Bitcoin involves trust in the mining community: human beings whose identities you almost certainly don't know.

Unless you are also auditing all the code you use for software that objects with Bitcoin yourself, it also requires trust in either the software developers or other people who purport to be auditing the code.

The idea that Bitcoin eliminates the need for trust is a dangerous delusion.

> Unless you are also auditing all the code you use for software that objects with Bitcoin yourself

As I mentioned in another reply, compared to existing electronic monetary systems, an open source one will always be more trustworthy than a closed source one.

>Bitcoin involves trust in the mining community

To be a part of Bitcoin, miners need to follow a publicly known protocol that is easily verifiable by anyone using math. Additionally, miners never have direct control of your money: they can't spend it on your behalf.

I think the only point you have there is that you must trust someone somewhere to mine Bitcoin. And as long as there's a profit to be made, someone probably will.

All you are doing is arguing reasons why the people you need to trust to use bitcoin deserve that trust, in your opinion, which is very different than the idea that bitcoin eliminates the need for trust.

The more reputation they have, the more that reputation is worth in business and the smaller chance they have of it being worth it to steal your money. older would typically mean more reputation.