Authority in Bitcoin: What Role Does It Play?

Authority in Bitcoin: What Role Does It Play?

In case you weren't aware, Bitcoiners hate authority. It is the central thing we want to avoid in finance, as well as any other industry that can be placed on the blockchain. We consider it inefficient, immoral, and just plain wrong. This makes sense for an anarcho-libertarian movement, but even anarchists have people they listen to. Merriam-Webster defines authority as "the power to give orders or make decisions," a vague description that doesn't describe how such power is acquired or what the consequences are. If we're going to rail against authority all the time, we should really do....


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