Post
Topic
Board Speculation
Re: You guys gonna become paranoid about Ripple
by
JoelKatz
on 17/01/2014, 06:06:42 UTC
Anything is possible, but this system seems to rely on trust, which is the primary currency in a confidence game.
Every human monetary or financial system relies either on trust, on force, or on a mix. One can list several things one must trust to use Bitcoin, for example, that a super-majority of Bitcoin users won't decide to change the Bitcoin software such that your Bitcoins are no longer considered valid or that 51% of the mining power isn't already controlled by the same malicious entity.