Brisket on Nostr: With Bitcoin, all the rules are immutable. Nobody can change them if they wanted to. ...
With Bitcoin, all the rules are immutable. Nobody can change them if they wanted to.
To cheat would require you to betray people's trust. You would have to first gain their trust before betraying it. This is because you need people's to voluntarily surrender their value as it cannot be taken without their consent.
So what you have is a scenario where cheating has a relatively low return (compared to playing honestly) & a high cost. The penalty for dishonesty in the Bitcoin space is generally social banishment. These incentives mean that even the 80% that would cheat if they could, tend to be honest.
Aligned incentives are a beautiful thing.
To cheat would require you to betray people's trust. You would have to first gain their trust before betraying it. This is because you need people's to voluntarily surrender their value as it cannot be taken without their consent.
So what you have is a scenario where cheating has a relatively low return (compared to playing honestly) & a high cost. The penalty for dishonesty in the Bitcoin space is generally social banishment. These incentives mean that even the 80% that would cheat if they could, tend to be honest.
Aligned incentives are a beautiful thing.