https://www.wired.com/story/theres-no-good-reason-to-trust-blockchain-technology/ What blockchain does is shift some of the trust in people and institutions to trust in technology. You need to trust the cryptography, the protocols, the software, the computers and the network. And you need to trust them absolutely, because they’re often single points of failure. When that trust turns out to be misplaced, there is no recourse. If your bitcoin exchange gets hacked, you lose all of your money. If your bitcoin wallet gets hacked, you lose all of your money. If you forget your login credentials, you lose all of your money. If there’s a bug in the code of your smart contract, you lose all of your money. If someone successfully hacks the blockchain security, you lose all of your money. In many ways, trusting technology is harder than trusting people. Would you rather trust a human legal system or the details of some computer code you don’t have the expertise to audit?
They said what does Buffet know about crypto? He is an old obsolete fool. I wonder what they will say about Schneier. Maybe another tech buffoon who knows shit.
I trust math more than I trust the central bank. I trust the BTC protocol and it’s PoW based game theory. I do not trust exchanges, or any other entity that holds your keys.
I don't trust myself at all. I set up a mobile wallet in 2021 and forgot the password and don't remember where I wrote it down and put it. Luckily, or unluckily, my ETH has devalued to $64.
I would rather not trust humans
Who do you think created those distributed systems? Angels?
There is a new coin developed by bamboons, you should trust that one instead.