pertinent essay on blockchain from the security perspective
https://www.schneier.com/essays/archives/2019/02/theres_no_g...
Sure anyone can run a node. But most nodes are in centralized pools running code that few developers can approve pull requests too.
I'd bet dollars to doughnuts that any crypto is an order of magnitude more centralized than any nation's treasury department
A coin might be fairly centralized, but the centralized coders and miners are replaceable in an organic fashion. If they were all shut down others could pop up and even if there were forks one fork could eventually triumph over others.
Unfortunately, critics never seem to do this.
how do you even know it's schneier's post? how could you trust any digital signature schneier might use to prove authenticity of that post?
etc, etc.
this is the kind of garbage that post can be reduced to.
If I trust that my choice of cryptocurrency software (or hardware wallet) is legit, and I'm wrong, I lose all the savings I put into crypto, with zero chance of recovery.
ultimately all the services you rely on to keep your savings safe can be built by other companies on top of bitcoin for a fee (already happening btw). it's just an option in addition to the rest of financial world. eggs, basket, yadda, yadda.