> On the business transparency, you seem to completely ignore the cryptographic proof businesses can provide, that's not the same statement that businesses have been making since ancient times. It's a mathematical guarantee.
It’s a mathematical guarantee in the same way that a bank statement is. It’s extremely rare for the problem to be counting things rather than undisclosed debts, embezzlement, etc. and that kind of thing is just as much of a problem for a Bitcoin user because the real world isn’t on the blockchain. If I look at your balance now, that doesn’t mean that you didn’t borrow 90% of that balance from someone else, neglect to mention that you have paid taxes, transfer it the instant after I signed a contract with you, etc. In all of those cases, we end up in a courtroom where a napkin with the CEO’s signature saying “IOU $1,0000,000” and a witness has the same legal weight as the Bitcoin network.
It’s a mathematical guarantee in the same way that a bank statement is. It’s extremely rare for the problem to be counting things rather than undisclosed debts, embezzlement, etc. and that kind of thing is just as much of a problem for a Bitcoin user because the real world isn’t on the blockchain. If I look at your balance now, that doesn’t mean that you didn’t borrow 90% of that balance from someone else, neglect to mention that you have paid taxes, transfer it the instant after I signed a contract with you, etc. In all of those cases, we end up in a courtroom where a napkin with the CEO’s signature saying “IOU $1,0000,000” and a witness has the same legal weight as the Bitcoin network.