> You’re free to disagree of course and you’re free to entrust all sorts of strangers to make all sorts of decisions in your life, just don’t expect others to do the same.
You already do though. You're just entrusting a different set of un-elected un-accountable strangers with no economics degrees with your monetary policy -- the Bitcoin Core team. And the PRC where over 50% of the hash power is located. They could change the number of Bitcoin on issue, the rate, the block reward rate, anything, with zero recourse on your part. Your government is accountable to you, the core team, to themselves.
If you tell me they wont then you're trusting them not to unless you can point to a math equation preventing them, I guess.
You're describing a libertarian pipedream that can't exist.
> You're just entrusting a different set of un-elected un-accountable strangers with no economics degrees with your monetary policy -- the Bitcoin Core team
no i don't. they just happen to maintain the reference implementation.
> And the PRC where over 50% of the hash power is located
no trust involved here either.
> They could change the number of Bitcoin on issue, the rate, the block reward rate, anything, with zero recourse on your part.
no they can't and the fact that you think this means you have zero understanding of how bitcoin works.
> If you tell me they wont
i'm telling you they can't. bitcoin is defined by consensus rules and releasing a binary that breaks those rules or mining blocks that break those rules doesn't change bitcoin.
It’s the politics. If the core team decided to change the parameters of bitcoin at worst everyone would fall in line and at best it’d fork and you’d lose a whole lot of value.
Then "faith" that people are going to continue to believe in the Bitcoin that you believe in. I mean it’s not scarce anyone can clone and fire up their own bitcoin.
You already do though. You're just entrusting a different set of un-elected un-accountable strangers with no economics degrees with your monetary policy -- the Bitcoin Core team. And the PRC where over 50% of the hash power is located. They could change the number of Bitcoin on issue, the rate, the block reward rate, anything, with zero recourse on your part. Your government is accountable to you, the core team, to themselves.
If you tell me they wont then you're trusting them not to unless you can point to a math equation preventing them, I guess.
You're describing a libertarian pipedream that can't exist.