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Topic
Board Bitcoin Discussion
Re: Bitcoin XT - Officially #REKT (also goes for BIP101 fraud)
by
iCEBREAKER
on 30/08/2015, 07:26:14 UTC
Again: The true value that Bitcoin brings to the table is not "everyone gets to write into the holy ledger", it is instead "everyone gets to benefit from sane and non-inflationary financial instutions whose sanity and honesty are ensured by the holy blockchain".

Basically you can't reply to the simple question of "who is going to run a node for these financial institutions?". Gotcha.

And you keep talking about keeping the blockchain decentralized? What a joke you are.

Financial institutions may run their own nodes, hire a specialist, or use SPV.  The point, for the sake of the network remaining diverse/diffuse/defensible/resilient, is to maintain the option of "really" (IE trustlessly) using Bitcoin for anyone with a $300 laptop and 1Mb upstream.

The broader point is that Bitcoin grants anyone with such a laptop and pipe the (revolutionary) option of being their own (disruptive) financial institution.

Absent a crackdown or other type of crisis, most people will simply "benefit from sane and non-inflationary financial instutions whose sanity and honesty are ensured by the holy blockchain."

But if there were a crackdown or other crisis, we must ensure that ~everyone is economically and technologically able to "write into the holy ledger."