HomeBitcoin NewsTrace Mayer and Jameson Lopp Remind People how Bitcoin is Supposed to...

Trace Mayer and Jameson Lopp Remind People how Bitcoin is Supposed to be Perceived


It is evident there are some interesting opinions on Bitcoin and cryptocurrency to take into account. According to Trace Mayer and Jameson Lopp, a lot of people need to take Bitcoin more seriously. This is especially true when it comes to running nodes and controlling private keys. Some very remarkable comments, yet a more than valid reminder for all users.

In the Bitcoin world, users are held accountable at all times. Unfortunately, most users also tend to give control over their funds to third parties. Online wallet services and exchange balances are not proper Bitcoin wallets by any means. The reliance on these intermediary services needs to come to an end sooner rather than later. It will take a lot of effort to make people aware of those risks.

The Bitcoin Wake-up Call Receive Mixed Responses

Trace Mayer and Jameson Lopp are certainly on to something in this regard. An interesting tweet has surfaced to remind people how Bitcoin works exactly. While not everyone can run a fully validating node, it is certainly possible to control your private keys at all times. Failure to do so is simply asking for trouble. Additionally, it also shows an unwillingness to fully control your financial assets. It is not something most consumers are used to, after all.

On the topic of nodes, there is always room for arguments. Not everyone can or wants to run a fully validating node. That doesn’t make them “second-class Bitcoin citizens” by any means. While setting up a node is not difficult, it also serves no purpose in the minds of most people. If everyone were to take this approach, Bitcoin’s node centralization problem would quickly disappear.

Whether or not this message will fall on deaf ears, remains to be seen. It is always interesting to see how Bitcoin users perceive the rest of the community. Putting people in “castes” is never a good idea, though. At the same time, a wake-up call like this one is direly needed from time to time.

Header image courtesy of Shutterstock


JP Buntinx
JP Buntinx
JP is a freelance copywriter and SEO writer who is passionate about various topics. The majority of his work focuses on Bitcoin, blockchain, and financial technology. He is contributing to major news sites all over the world, including NewsBTC, The Merkle, Samsung Insights, and TransferGo.

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