Is Bitcoin Better Than Gold? Part Two: Trust

Is Bitcoin Better Than Gold? Part Two: Trust

Trust is a component in both gold currency and Bitcoin, although working in two fundamentally different ways. With gold, trust is almost always required, be it in mining, minting, or banking. On the other hand, with Bitcoin, mandatory trust only enters the equation with a centralized mining network. All other trust requirements with Bitcoin occur when an individual voluntarily gives a company or other person control over his or her coins. However, contrary to popular belief, Bitcoin’s trustless nature does not necessarily make it a winner over gold when it comes to trust. If Bitcoin mining....


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