Oddbean new post about | logout
 incorrect logic due to factual error. 

Trust placed in FED, ECB, etc- ALLOW THEM TO CHANGE THE RULES. (print money, decide arbitrary interest rates, etc.)

The "trust" in core devs etc, is a web of trust that non-devs use to verify the source code, and choose which applications to use in order to interact with bitcoin in a self-sovereign way. 

There is no trust in bitcoin. There will only ever be 21 million. 
(to be exact: 20,999,999.977x100,000,000 satoshi)
difficulty to mine adjusts every 2016 blocks. halving of mining issuance occurs every 210,000 blocks. 


If I verify that I own 1000 satoshi today, that 1000 will always be the exact same ratio of the whole that it is today. 1000 sat = 1000 sats. There is nothing any dev can do to change that.