Topic: Bitcoin creates bond and trust among its users - page 2. (Read 293 times)
Come imagine that a lot of people got affected in 2017 when Bitcoin experienced an all-time high and the crashed after a month or two. This made people lost any trust with Bitcoin at that time and some never went back to invest in cryptocurrency. But during the last year, when Bitcoin crossed the previous all-time high and then went way more up, people started to get their curiosities back and now wants to get back to the action, but this time they purchased other alts since it was cheaper. But the rush propels Bitcoin to move up further, especially when billionaires and corporate celebrities went to endorse.
I somehow agree with your point. However, in my country, people always try to steal others money on the internet. The percentage is about 20%. It is extremely big. Thus, I hardly believe anyone unless they have a long transaction history proving that they are clean
Third party app for escrow is considerable. If there is a blockchain creating its own escrow, it will definitely be used by many people
Third party app for escrow is considerable. If there is a blockchain creating its own escrow, it will definitely be used by many people
It can be considered as the most used digital currency which is easily transferrable to others via peer to peer transaction through using blockchain technology. People are continuously supporting and using it to get faster service and getting other facilities too. That makes trust to its user. It doesn't make trust by itself.
Bitcoin is a digital currency that is not tangible, but people transact on it on daily bases,how is it possible ???it is only possible because bitcoin build trust among saler and buyer of the currency.it takes trust to send money to someone's wallet and wait to receive the bitcoin in exchange ...what do you think
trust between users is usually done in p2p trading, not for exchange trading, because blockchain technology is the basic foundation for users to make transactions online
that's just my opinion
What this means: It's not Bitcoin that creates trust, it's the people who trade crypto that create trust in Bitcoin.
Many people here make transactions with Bitcoin, without having to know each other, Bitcoin never creates trust, people who created all of that, so we dare and believe in making transactions with other users.
Having a trustless system is one of the major advantages provided by the blockchain technology (i.e. smart contracts) that powers the crypto industry. This is why this monetary system (which is growing rapidly) is preferred over the current method.
The "non-tangible" part isn't that important, after all we've had digital money for many years, and people had no trouble with money existing purely as a number on the Internet. Bitcoin is different because there's no intermediaries and confirmed transactions are final, but with banks it's also not always possible to reverse a transaction, and there's a lot of scammers who use bank cards to receive money from their victims, so when it comes to p2p trading, Bitcoin and fiat payment methods aren't that different. Reputation has always been the most important part of p2p trade.
Bitcoin is a digital currency that is not tangible, but people transact on it on daily bases,how is it possible ???it is only possible because bitcoin build trust among saler and buyer of the currency.it takes trust to send money to someone's wallet and wait to receive the bitcoin in exchange ...what do you think
I totally agree with you, a lot of people lost faith when Bitcoin was dumped in 2017, then when Bitcoin crossed the previous ATH with huge market capitalization in just next three years, it got a huge response in the corporation sector, resulting in world class Companies like Grayscale, TESLA have been forced to think about investing in Bitcoin. Bitcoin is now able to gain the trust of people from all walks of life and revolutionize digital transactions.
blockchain technology is the basic foundation for users to make transactions / transfer Bitcoin directly by users online, which is called peer-to-peer doing individually.
What this means: It's not Bitcoin that creates trust, it's the people who trade crypto that create trust in Bitcoin.
Many people here make transactions with Bitcoin, without having to know each other, Bitcoin never creates trust, people who created all of that, so we dare and believe in making transactions with other users.
What this means: It's not Bitcoin that creates trust, it's the people who trade crypto that create trust in Bitcoin.
Many people here make transactions with Bitcoin, without having to know each other, Bitcoin never creates trust, people who created all of that, so we dare and believe in making transactions with other users.
Bitcoin is a digital currency that is not tangible, but people transact on it on daily bases,how is it possible ?
What does it have to do with being tangible? The balance shown on your Paypal account is also intangible, but people transact with it daily. After the invention of internet, lots of things are valuable and intangible at the same time. Bitcoin is, by design, created for this purpose.it takes trust to send money to someone's wallet and wait to receive the bitcoin in exchange ...what do you think
And it doesn't with fiat? If you ever deal with someone hand-to-hand, there's no guarantee. This is why people use online escrow services.You shouldn't be confusing humans' trust with Bitcoin's technology.
Bitcoin is a digital currency that is not tangible, but people transact on it on daily bases,how is it possible ???it is only possible because bitcoin build trust among saler and buyer of the currency.it takes trust to send money to someone's wallet and wait to receive the bitcoin in exchange ...what do you think
Hi
I do think that you are talking about how the process of buying and selling works in the business of bitcoins. People have to wait and how does it go by ? Well if you are asking this then I do believe that you have heard about the lightning network. It takes on the buying and selling transactions from shops , etc even some grocery stores have it now. But this network is not entirely safe thus is rather in a scope of an improvement.
Other than that there are things like : transactions getting confirmed after just one confirmations which is exceptionally very helpful in gambling. But then again people did create something to track back the transaction but that will only work if you would have the password.
Then again you can use segwit and set the transaction to be urgent you will pay more but it will take less time and both parties can decide to pay half.
People even use escrow sometimes or some good services.
Bitcoin is a digital currency that is not tangible, but people transact on it on daily bases,how is it possible ???it is only possible because bitcoin build trust among saler and buyer of the currency.it takes trust to send money to someone's wallet and wait to receive the bitcoin in exchange ...what do you think
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