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But... "trusted" means we can trust them, right?! #sarcasm
Trusted third parties are security holes https://nakamotoinstitute.org/trusted-third-parties/ …https://twitter.com/WSJ/status/1155986762142851073 …
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Nope. It means people *do* trust them, for example by making the integrity of their assets or their personal or security-relevant information vulnerable to them.
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And conveniently, hackers are in the possession of the exact information they need to open fake accounts and use it for nefarious purposes (including money laundering). Note: Requiring personal info enables, not prevents money laundering.
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Any payment processor is also a privacy hole, disclosing data about your transaction and about you. Thoughts on how Bitcoin + Lightning can help address this and protect our liberties here:https://medium.com/@alexgladstein/the-moral-case-for-lightning-a-global-private-payment-network-9b232019a75b …
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There is usually no way to use them without trusting them, though, and often few or no alternatives.
#ExceptionBitcoin
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Isn't lightning more or less a third party?
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Its a way for blockstream to make money without being a miner, unfortunately blockstram also controls the core dev team so they have a captured market and a conflict of interest.
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Yea, third party
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Banks are giving all kinds of stories - pick your choice !https://www.cnn.com/2019/07/29/business/deutsche-bank-ecb-negative-rates/index.html …
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For the zillionth time...
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These hacks are the norm now, we need to come up with a way to secure our own personal data without the need for CC companies and other institutions to store it centrally
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Banks running scared of
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Trusted third parties are security holes. Read this as a nature's law.
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KYC/AML is a security hole.
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