Bitcoin, or the Issue of Trust in the Internet

Internet fraud thrives and bears fruit. However, it’s no comfort to those who became victims of dishonest users. Maybe a closer look at Bitcoin operation concept will help to solve the problem of trust in the Internet in an easy way.
Transparency of Bitcoin Operation Concept
   Bitcoin operation concept resembles raising a brick-wall. Users add bricks (transactions) filling a layer – blockchain. Recordings of every transaction arrive to the ledger which is finally verified by other users of this blockchain. On a certain stage a chain is closed, so Bitcoin users begin to create and fill up a next layer – blockchain.
   If later any user would like to revise his transactions in the already closed blockchain, it is not an easy task to perform. It is impossible just to change data in one “brick” without breaking the “wall”. A user has to correct layer by layer taking into consideration introduced changes.   Hence, it is impossible to hide any actions in a chain of transactions. In open for registering transactions blockchain users can see discrepancy which appeared from the “bottom”.
   Transparency of transactions brings to naught any attempts to disrupt a closed blockchain. Therefore, publicity would not come amiss. Even the most ingenious swindler won’t be able to conceal his actions in the common chain. The issue of trust disappears by itself because dishonest user making changes in his block would not be able to save them without other users to accept correction.
Trust Everybody or Trust Nobody
   Anyone can become a Bitcoin earner. There are no restrictions on volumes. Cryptocurrency business is open for everybody who is interested in this field. In this situation some not-too-honest people might decide that if anybody can become a member of the system, so swindlers have a chance to profit by other users’ expense.
   Well, the concept of Bitcoin does not permit any mercenary ideas to be realized. The system is built on a single principle’s recognition. People choose Bitcoin just for their self-interest, but their benefits subject to conditions which cannot be violated neither physically nor technically. General tendency to earn money from sales or exchange of cryptocurrency lined up in a single chain of transactions eliminates swindlers’ attempts to introduce any changes for the purpose of profit earning.
   How can general trust or non-trust insure all Internet users? Perhaps, if to extend Bitcoin concept upon the whole World-Web there will be no other alternative for swindlers as to play fair. Exclusion of an opportunity to use other users for self-interest will lead to step-by-step extinction of over-greedy users who don’t like to work like others, in other words, honest.
Who controls the activity of others?
   On the one side, full transparency enforces everybody to monitor neighbors’ activity. On the other side, control is nevertheless required. The question is: Who should we entrust the powers to? There is no censorship in Bitcoin system, but there is absolute impossibility to fraud transactions in closed blockchains. Because it is impossible to open your own “brick” in the common layer without asking for permission of the whole shared chain.
   Considering the entire construction composed of blockchains we should admit that global control is inevitable. Who is able to undertake obligations? Maybe, system users might make a choice. Users’ ranking is easy to monitor in an open activity chain. Everybody has the opportunity to see not only a number of performed transactions assembled into blocks, but their quality as well.
  Transparency of the system allows monitoring nature of transactions, number of corrections introduced to blockchains, and recurrence of actions. Control functions can be handed over to somebody who does not make fraud attempts, and the activity of users is visible to all cryptocurrency account-holders. Closed group of users who gained the public trust can become a control authority. Although, at the present moment there is no such a necessity, but nobody knows what users can expect in the future.
   It is likely that even full transparency will require monitoring. Especially in case of further expansion of the network and new users acquisition. Trusted users can be selected according to the same concept of transparency. Why do we trust to e-payment systems blindly without seeing the background of their actions? Why do we think that payment systems do not cheat just because fraud is illegal?  We ascribe morality and ethics to the electronic system.
   Operating with Bitcoin does not bind everybody to be honest because fraud is illegal. However, transparency of activity helps to determine those users who have never tried to deceive others. Therefore, Bitcoin users can easily select a group of people whom other users can rely on. It is not difficult to establish in open space a tight circle of absolutely honest people.