As part of an ongoing series, I'd like to share my thoughts on some important Satoshi quotes. I'll probably come back to these in the future, as there's so deep you can go, on so many levels, and I'm still learning myself every day.
The open source nature of Bitcoin may seem, at first, a weakness, but in fact it is one of it's greatest strengths. I think in this quote Satoshi was trying to say that this kind of system inherently creates checks and balances, where everyone is a Watchman, and the Watchmen are all watching each other in an open and transparent forum.
You can think of Bitcoin as the first DAO, or Decentralised Autonomous Organisation. At the core of such a system is the vision that the stake each individual participant has in an open and decentralised system will incentivise them to maintain the fairness of that system.
Spreading participation to give as many people as possible a stake, and not just a small, closed circle, also adds to the safety of a system as more minds equal a greater probability of finding solutions to difficult problems that arise down the road.
Well written. Crypto is the future. Banks already getting nervous.
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