> Trustlessly
With cryptocurrencies, you need to trust:
* The exchanges (and other ramps for getting useful money into the system and out of the system)
* The developers of the chain
* The developers of the smart contracts
* The developers of wallets
* The miners
* The internet providers
* The hardware manufacturers
* The government (yes, they could punish usage of cryptocurrencies hard if they wanted to)
> Your will that declares what assets go to your children. The deed to your home. The lease for your car. Certificates. Art. Tickets. Contracts. Money.
Which can all be lost or stolen easily without a central authority and a judicial system. Do not underestimate the power of phishing, especially if it is directed towards specific people.
With cryptocurrencies, you need to trust:
* The exchanges (and other ramps for getting useful money into the system and out of the system)
* The developers of the chain
* The developers of the smart contracts
* The developers of wallets
* The miners
* The internet providers
* The hardware manufacturers
* The government (yes, they could punish usage of cryptocurrencies hard if they wanted to)
> Your will that declares what assets go to your children. The deed to your home. The lease for your car. Certificates. Art. Tickets. Contracts. Money.
Which can all be lost or stolen easily without a central authority and a judicial system. Do not underestimate the power of phishing, especially if it is directed towards specific people.