Can Bitcoin be trusted? - page 11. | Bitcointalksearch.org

posi

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Quote from: SirLancelot on February 19, 2023, 04:09:46 PM

Quote from: adaseb on February 18, 2023, 11:32:04 PM

If he buys Bitcoin it’s considered an investment. Every investment has a risk. People assumed that real estate was a low risk investment and many are under water now. I think the only safe investment right now is bonds. Or you keep it in your savings account.

Nobody knows if it will crash or not. It’s been over a decade, since it hasn’t hit $0 yet then most likely it won’t anytime soon. You can say the same for a stock like Tesla. It’s the most popular EV brand today however will they still be around in a decades time? Nobody knows.

Were people really wrong about real estate being a low risk investment if you buy clean and verified property in places which are most likely to have a higher growth potential for land prices in the future? That is what it is in where I live. Real estate is considered to be one of the most profitable and low risk investments if of course you do your research before making any purchases to avoid potential risks involved in frauds and etc.

I personally prefer investing in real estate or gold rather than bonds, though bonds could be a safer investment, but I feel I can get higher chances of getting profit with the other two I've mentioned. About Bitcoin, I do trust it but I wouldn't with all my wealth, of course.

Any investment has risks and pitfalls, and over the last year, real estate has been considered the most attractive investment in my area. From teachers to engineers, farmers, and workers... everyone becomes real estate brokers and investors. But only a year later, the real estate bubble burst and many people fell into a dead end, thinking that real estate would never fall in value, and they invested with borrowed money. There is no asset that offers high returns with low risk, the higher the return, the higher the risk.

Joshapat

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We have to know what the trusted measure is, if the trusted measure is definitely profit then any investment will never guarantee profit, many people are too afraid to invest in bitcoin for fear that the price will drop because of the many prohibitions on using bitcoin, but the thing that makes me optimistic about the future and the opportunity to get more expensive is the law of the market, namely the number of users that continues to increase and the stock does not increase, it will make the price skyrocket.

Fundamentals Of

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If your friend is asking for a guarantee that Bitcoin won't crash, it is like he is asking for a guarantee that whatever amount he will put into Bitcoin will have zero risk. That is not possible. Although it is very unlikely that Bitcoin won't crash the way shitcoins and centralized platforms like crypto exchanges and crypto lending companies do, it is still not risk-free. Nobody can tell whether Bitcoin could still be here after many years. So just tell him to understand Bitcoin first and then decide whether it is worth the risk.

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Quote from: adaseb on February 18, 2023, 11:32:04 PM

If he buys Bitcoin it’s considered an investment. Every investment has a risk. People assumed that real estate was a low risk investment and many are under water now. I think the only safe investment right now is bonds. Or you keep it in your savings account.

Nobody knows if it will crash or not. It’s been over a decade, since it hasn’t hit $0 yet then most likely it won’t anytime soon. You can say the same for a stock like Tesla. It’s the most popular EV brand today however will they still be around in a decades time? Nobody knows.

Were people really wrong about real estate being a low risk investment if you buy clean and verified property in places which are most likely to have a higher growth potential for land prices in the future? That is what it is in where I live. Real estate is considered to be one of the most profitable and low risk investments if of course you do your research before making any purchases to avoid potential risks involved in frauds and etc.

I personally prefer investing in real estate or gold rather than bonds, though bonds could be a safer investment, but I feel I can get higher chances of getting profit with the other two I've mentioned. About Bitcoin, I do trust it but I wouldn't with all my wealth, of course.

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Quote from: Sakanwa on February 18, 2023, 02:20:00 AM

A friend of mine came to me and we were having a conversation and I was trying to introduce he to the forum,but he turns out that I was asked if I really trust and believe in bitcoin it will never crash like other cypto industry.

Bitcoin can crash if we are talking about the price but not until the point the price becomes zero just like any other cryptocurrencies. If you want to trust Bitcoin as your "investment" then make sure you are ready with any good and bad news that could happened around you because the market is unexpected sometimes and you may lose something that makes your "trust" on Bitcoin becomes "manipulated'.

hugeblack

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When you talk about crashes, do you mean a technical problem? Or a drop in price? Bitcoin has been working for more than ten years without stopping due to a major error, and therefore you can trust it from a technical point of view, but in terms of price, everything is the same, but as long as the network is decentralized, the price will rise again.

Generally, if your problem is not the price, you can believe in Bitcoin.

savetheFORUM

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Quote from: Sakanwa on February 18, 2023, 02:20:00 AM

A friend of mine came to me and we were having a conversation and I was trying to introduce he to the forum,but he turns out that I was asked if I really trust and believe in bitcoin it will never crash like other cypto industry.

I want know if it will not crash and I need help to convince him about it that it will not crash because am a beginner and I haven't know much about bitcoin so I guess been here I will fine help to assist my friend to join the forum.

So you were inviting your friend to Bitcoin and the forum and then all of a sudden, with a simple question, you realized that you yourself are not familiar enough about bitcoin to teach someone else. Well, I guess now you and your friend will have one more activity to do when you guys meet. You guys should learn one thing each, every day, and when you two meet, you tell each other what you've learnt today. This way, both of you will gain knowledge over time and you guys will have a stronger interest towards it.

About your question for crashing, yes, it can crash, what you are seeing right now in the market is the result of a crash, but, what makes bitcoin significantly different is its ability to recover and grow stronger each time.

maydna

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You can explain to your friends that in the event of a crash, it would be a good time to join bitcoin by starting to buy bitcoins and don't be afraid if a crash occurs because bitcoins will surely go up and down all the time with a crash that you have the opportunity to buy more bitcoins and save them until the price can increase again. But most people are afraid of a crash coming to the market because they think that it will make the price go down and not be able to get up again. But they were wrong because bitcoin has experienced that crash all this time and could go higher. And many people are using that moment to buy lots of bitcoins so that when the price goes up and they sell them, they will make a big profit. But we trust bitcoin.

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Quote from: adaseb on February 18, 2023, 11:32:04 PM

If he buys Bitcoin it’s considered an investment. Every investment has a risk. People assumed that real estate was a low risk investment and many are under water now. I think the only safe investment right now is bonds. Or you keep it in your savings account.

Nobody knows if it will crash or not. It’s been over a decade, since it hasn’t hit $0 yet then most likely it won’t anytime soon. You can say the same for a stock like Tesla. It’s the most popular EV brand today however will they still be around in a decades time? Nobody knows.

Look at real estate in China, many times riskier than bitcoin investment, there is no investment that is both safe and has a high return. I don't know about bonds, but gold is also a safe bet in the long run, but the returns won't be too high.

Bitcoin is like other assets, the value is determined by our beliefs, as long as we still need and use it, bitcoin will always exist and never go to zero. I would rather invest and trust in a decentralized asset like bitcoin than hand over my money to some company like Tesla, even though it is now more trusted by people than bitcoin.

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Quote from: Sakanwa on February 18, 2023, 02:20:00 AM

A friend of mine came to me and we were having a conversation and I was trying to introduce he to the forum,but he turns out that I was asked if I really trust and believe in bitcoin it will never crash like other cypto industry.

The funny thing about crypto is that if the price goes up everybody wants to be a bystander waiting for markets to come down so that they are accommodated..

But the beauty about the crypto industry is that crashes will always be there as markets react to what's going on around the world and not forgetting the people behind these crypto coins are human who react as a result of emotions and what they interpret from the market news et cetera

Quote from: Sakanwa on February 18, 2023, 02:20:00 AM

I want know if it will not crash and I need help to convince him about it that it will not crash because am a beginner and I haven't know much about bitcoin so I guess been here I will fine help to assist my friend to join the forum.

No need to sugar coat things Roll Eyes

tell your friend the crypto ecosystem is like the weather...

there will be sunny days, rainy days, cold days etc and of all these non of them last forever it's the nature of things.

Like the weather crypto a moon and also crash, but these crashes are not permanent as markets usually recover and life goes on....

adaseb

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If he buys Bitcoin it’s considered an investment. Every investment has a risk. People assumed that real estate was a low risk investment and many are under water now. I think the only safe investment right now is bonds. Or you keep it in your savings account.

Nobody knows if it will crash or not. It’s been over a decade, since it hasn’t hit $0 yet then most likely it won’t anytime soon. You can say the same for a stock like Tesla. It’s the most popular EV brand today however will they still be around in a decades time? Nobody knows.

MarjorieZimmermanGinger

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Bitcoin can give someone the freedom to choose independent investments without control by any institution. Trust in bitcoin is nothing more than how involved you are, but there is no compulsion of faith to choose it. If you are a beginner, then introducing bitcoin to your friends should not be done, how is it possible to convince others if you don't know bitcoin yourself fully.

Quote from: Sakanwa on February 18, 2023, 02:20:00 AM

I want know if it will not crash and I need help to convince him about it that it will not crash because am a beginner and I haven't know much about bitcoin so I guess been here I will fine help to assist my friend to join the forum.

Do not convince people that bitcoin can bring them wealth, because it will be quite problematic when it comes to market sentiment that occurs against bitcoin corrections, involvement in the investment needs to consider the ratio of rewards and risks that will be incurred, so that involvement represents complete knowledge and most importantly, don't panic when market conditions are experiencing a sharp decline in prices.

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Quote from: irhact on February 18, 2023, 04:24:57 PM

Quote from: Sakanwa on February 18, 2023, 02:20:00 AM

A friend of mine came to me and we were having a conversation and I was trying to introduce he to the forum,but he turns out that I was asked if I really trust and believe in bitcoin it will never crash like other cypto industry.

Tell your friend that Bitcoin isn't like other cryptocurency that he's seeing or know and that's why Bitcoin isn't called alternative coins. Bitcoin is decentralized and that's one of the reason it'll or wouldn't crashed like other projects. Bitcoin doesn't have a CEO or face of the coin that can be attacked like SBF or CZ and when this is done, it can crash the market.

Bitcoin has also gained the trust of the community which is why it's very unlikely that it will crash just like Luna crashed last year. Bitcoin is unique and different While other cryptocurency been built are mostly inferior or just a copy and paste of other codes which make it easier for scammers to exploit their flaws.

Oh you mean it won't crash like the LUNA coin because in the past Bitcoin did crashed a lot during bear season but when it's time for the bull run it did gains a lot but of course, it will crash again when the hype is done. Everything about the market is on hype that's why it's value is increasing but if we talk about Bitcoin only then 1 BTC is only 1 BTC you can't change that.

Understanding the market or the history of Bitcoin is essential if you want to know if it has a potential and not only that – that's why the people/community chose Bitcoin because of its attributes of being a decentralized crypto currency coin.

Silberman

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Quote from: Sakanwa on February 18, 2023, 02:20:00 AM

A friend of mine came to me and we were having a conversation and I was trying to introduce he to the forum,but he turns out that I was asked if I really trust and believe in bitcoin it will never crash like other cypto industry.

I want know if it will not crash and I need help to convince him about it that it will not crash because am a beginner and I haven't know much about bitcoin so I guess been here I will fine help to assist my friend to join the forum.

What do you mean by a crash? If by this you mean bitcoin losing all its value then bitcoin is never going to suffer this as someone will always find bitcoin useful and valuable, but if by a crash you just mean a big decrease on its price then this can actually happen, and you can check this is true by looking at the charts, however I will recommend that you desist on your attempt to bring your friend to the forum, if they want to join they will do it when they are ready, you have done enough already by letting him know this forum exists and that bitcoin is a solid coin, so nothing else should be expected out of you.

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Quote from: Sakanwa on February 18, 2023, 02:20:00 AM

A friend of mine came to me and we were having a conversation and I was trying to introduce he to the forum,but he turns out that I was asked if I really trust and believe in bitcoin it will never crash like other cypto industry.

Tell your friend that Bitcoin isn't like other cryptocurency that he's seeing or know and that's why Bitcoin isn't called alternative coins. Bitcoin is decentralized and that's one of the reason it'll or wouldn't crashed like other projects. Bitcoin doesn't have a CEO or face of the coin that can be attacked like SBF or CZ and when this is done, it can crash the market.

Bitcoin has also gained the trust of the community which is why it's very unlikely that it will crash just like Luna crashed last year. Bitcoin is unique and different While other cryptocurency been built are mostly inferior or just a copy and paste of other codes which make it easier for scammers to exploit their flaws.

Falconer

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You can trust bitcoin as currency or secure means of transaction, but you should not trust bitcoin 100% as riskless investment asset either in the short or long term. It's not that I don't believe in the possibility of profiting, but you are also exposed to the risk of loss due to price volatility and your habit and understanding protects your bitcoin and your wallet.

But if you believe in the possibility and potential of winning in bitcoin, do it in an amount you can afford to lose. That to me is much better than you having to put all your budget into bitcoins. Man, you don't know the future, and neither do I and anyone else. So know your own risk.

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Quote from: Sakanwa on February 18, 2023, 02:20:00 AM

I want know if it will not crash and I need help to convince him about it that it will not crash because am a beginner and I haven't know much about bitcoin so I guess been here I will fine help to assist my friend to join the forum.

I believe that you must take time to understand how bitcoin market is exactly behaving over the time. Due to few characteristics like halving event and limited supply, bitcoin is able to manage to keep the demand up always which helps to rise up even after crashes. So, I like to suggest you to take time to educate yourself and your friend on various unique features of bitcoin.

Once you come out with all the basic characteristics of bitcoin ecosystem then you will not be able to stop yourself to go investing with bitcoin with all your capital. People usually take time to realize the real benefits of bitcoin investments but once they find time to know all of those things then they will become lifetime Bitcoiners.

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Quote from: Sakanwa on February 18, 2023, 02:20:00 AM

A friend of mine came to me and we were having a conversation and I was trying to introduce he to the forum,but he turns out that I was asked if I really trust and believe in bitcoin it will never crash like other cypto industry.

I want know if it will not crash and I need help to convince him about it that it will not crash because am a beginner and I haven't know much about bitcoin so I guess been here I will fine help to assist my friend to join the forum.

Maybe you need to show the journey of rising prices in bitcoin for 13 years and there you will find increases and decreases that occurred in bitcoin during its journey you can also add that in each bitcoin cycle a similar thing occurs in the formation of a new ATH, besides that you can adding that the development of bitcoin and altcoins is increasingly widespread in the ranks of society, both in the middle, upper and lower classes, you can also say that bitcoin is an asset to protect the value of your money. But in all of these you will be able to make a rich if the investment is made in the long term.

wiss19

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You are now 5 months old in the forum and I think with that long, you already figured out that Bitcoin is undying and is the most trusted crypto. I bet you won't also invest on Bitcoin if you think that it was not trusted. In order for your friend to be convinced more on joining Bitcoin, you can show him the profits that you already earned from investing on it.

You can also share him the historical chart of Bitcoin and by there he will witness that Bitcoin can recover after each dip it gets.

Lastly, you can share the link of Bitcoin
introduction. By there he will see that Bitcoin started in the year of 2009 and it was now 2024 years old.

Lucius

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Quote from: Jawhead999 on February 18, 2023, 02:25:58 AM

Bitcoin have suffered 2 huge crashes at 2018 and 2021, it's really wrong if you're saying Bitcoin will never crash, I believe we will suffer another crash in the future.

It was much more than just two crashes if we take into account the total time that Bitcoin has existed, although most people were not really interested in what happened 10 years ago. As for trust, it cannot be bought, hired or found in the middle of the street, it must be earned. Some will say that Bitcoin still hasn't earned that trust, and I wouldn't dispute their opinion because it's a personal matter for each individual.

Bitcoin will certainly experience many more bad moments than the next crash, but this is not something that is specific only to Bitcoin - those who trade stocks know that this market can easily lose hundreds of billions of dollars in one day, and yet people still trade stocks.

I would conclude that trust in Bitcoin is much more than its price, no matter how strange it may sound to some.

Topic: Can Bitcoin be trusted? - page 11. (Read 1854 times)