Your coins depend on them.
That isn't saying anything.
Depend on them how? They can't take my coins just because they have hashing power. They'd need my private key to do that.
I know exactly what the risks are, but I'm not convinced that you do. You've been acting very concerned about the fact that a pool exceeded some magical 50% number and seem certain that the protocol needs to be "fixed". But I'm not sure that you even understand what a mining pool with 51% can do that a mining pool with 49% can't do.
If you can't see that then I have missunderstood you.
I thought you were a VERY smart man.
I thought you were a VERY smart man.
I never said I was VERY smart. I'm just trying to understand why you think that BTC isn't "safe".
OK, maybe I got missunderstood myself.
It is not safe to the eyes of newcomers which prevents BTC from becoming mainstream.
That's what I meant.
And yes your coins depend on the protocol which depenends on the core-dev team.
If the protocol is comprimised your coins and private keys mean nothing because your coins will be worthless.