Actually I mostly agree with rtcw's response. You don't have to trust in the system. You don't even have to trust that others will believe in it to give it value, because Bitcoin actually has inherent value. But you do have to trust that enough people will use it, in order to maintain it's value.
Bitcoin is like a house. It can protect your possessions from theft. Unfortunately it's the biggest house ever constructed. And it requires maintenance. If lots of people want to use it, it will be very cheap to maintain. If only a few people want to use it, it will be impossible to maintain, and the thieves will break in.
From what I have seen over the past several months, it seems that a lot of people want to use it. More than I would have imagined, actually.
Topic: anyone else discouraged? - page 2. (Read 3699 times)
$29/$31.50 is nothing compared to what it will be in a few months. Seriously, the word on bitcoin is JUST starting to spread through the major news sources. It's going for a ride, and it won't be stopping for a long time yet.
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millions of people out there who aren't informed as you are now.
billions
What benjamindees probably meant was:
Anyway, I say follow the trend until the trend tells you otherwise. To predict is foolish, to be on the right side is divine.
Do what you can, there are millions of people out there who aren't informed as you are now. You still have time.
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The bitcoin system is based on public/private key encryption in addition to public transaction record in the blockchain. There is no need to trust another user, because the system takes care of security for you, preventing any kind of 'chargeback' or 'reversal' scenario by its design.
Anyway, I say follow the trend until the trend tells you otherwise. To predict is foolish, to be on the right side is divine.
Do what you can, there are millions of people out there who aren't informed as you are now. You still have time.
because "i" or "we" have to trust that theyll have value based on people believing in the system. i get that they are hard to attain and have read both sides of the debate. i know its a revolutionary concept which i respect, an hope it works... im just on the fence atm.
id like to get started, as i only have one but im concerned about the fast move to 29USD
id like to get started, as i only have one but im concerned about the fast move to 29USD
What makes you think Bitcoin has anything to do with trust?
i believe in the concept of bitcoin,just dont see how this could work on pure trust alone. i bought one BTC a week ago an there already over 26USD?! just wondering who else is apprehensive about this.
ive only got one as i dont have the money to buy, but all in all i do hope this works out to replace the digital FRN's
ive only got one as i dont have the money to buy, but all in all i do hope this works out to replace the digital FRN's
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