Post
Topic
Board Bitcoin Discussion
Merits 2 from 1 user
Topic OP
Remember
by
BlackHatCoiner
on 21/06/2024, 08:17:15 UTC
⭐ Merited by pooya87 (2)
"The best way to make Bitcoin fail is to believe that its success is guaranteed [...] The big compromise in a strongly decentralized system is that it's all of our jobs to look out for it."

Quote from: Greg Maxwell
The best way to make Bitcoin fail is to believe that its success is guaranteed. I too believe that Bitcoin is strong, but it is only strong because people will fight to protect it. If a threat arises and people sit back and do little saying, "Bitcoin is strong, the market will provide protection" then it will fail. There isn't any higher authority. Each and every user of Bitcoin is personally responsible for protecting it. We are the market, the invisible hand. Bitcoin's strength arises because people do step up and protect it, so we must never take that assumption of strength as a reason to not act. All systems have their costs and compromises. The big compromise in a strongly decenteralized system is that it all of our jobs to look out for it. Is Mankind mature enough for that kind of responsibility? I think so-- Bitcoin isn't the only thing that exists because of our collective will. "It is the common fate of the indolent to see their rights become a prey to the active. The condition upon which God hath given liberty to man is eternal vigilance; which condition if he break, servitude is at once the consequence of his crime and the punishment of his guilt.”