Can Bitcoin be trusted? - page 12. | Bitcointalksearch.org

Lucius

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Quote from: Jawhead999 on February 18, 2023, 03:25:58 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.

gunhell16

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Quote from: Sakanwa on February 18, 2023, 03:20:00 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.

You know, first of all, you don't have to convince him, let him convince himself about bitcoin as it happened to you here. Because, if you convince him, it's like you're begging him to believe that bitcoin is good.

Bitcoin doesn't force people to believe it, it's good that the curiosity and interest to find out what Bitcoin is, and why are businessmen wasting it as an investment, comes from ourselves. questions that he will also wonder, you got what I mean?

And bitcoin will get crash only if all the holders will sell their bitcoin holdings, but that's not going to happen at this point
of time I guess.

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Quote from: Rikafip on February 18, 2023, 05:30:52 AM

Quote from: Ayers on February 18, 2023, 04:01:30 AM

rs after that and hits a new ATH. The crash is not a scary thing but an opportunity because to profit from bitcoin investment, we
I think what your friend is worried about is that bitcoin is going to disappear forever, not crash, and I also want to answer that bitcoin will never die or disappear.

Even though chances for that happening are slim to none, it can still happen. We don't know what future brings and every investment (including in bitcoin) posses certain amount of risk.

I say "never" which is probably a bit of an exaggeration, but I mean, I strongly believe in the future growth and survival of bitcoin. Although bitcoin's risk is higher than other investments like gold or real estate, the return it gives us is well worth the risk when we put our trust in bitcoin.
If bitcoin were to be recognized or proven to be as safe as gold today, the opportunity would not be for us either. In risk there is always an opportunity, opportunity is only for those who know how to take risks.

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Quote from: Sakanwa on February 18, 2023, 03:20:00 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.

If you and your friend don't understand what bitcoin is, even if we say bitcoin is reliable, both of you will trust us? To have faith in bitcoin, you need to learn about it, learn everything about bitcoin, then I believe you will find the answer. You are joining a bitcoin forum, and we are all invested in bitcoin, so of course, we will say that we are very confident in bitcoin.

KingsDen

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Quote from: Sakanwa on February 18, 2023, 03:20:00 AM

Re: Can Bitcoin be trusted?

Speaking according to the title of your post, I think bitcoin preaches that nothing should be trusted, in fact bitcoin brings about trustless network. Bitcoin helped us to solve the problem of having to trust someone you have never seen who might not even exist in the other country or state. bitcoin has saved us from the betrayer of humanity with its escrow system.
So, it is a trustless network.This means that i have the right to say that I should not trust bitcoin itself but asking the question of if it will crash, bitcoin has crashed more than once since its inception.

But one unique thing about Bitcoin is that after it crashes it recovers also which cannot be said of so many other cryptocurrencies which crashes to death.

dragonvslinux

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It's not that Bitcoin won't "crash", it's technically done this three times throughout it's history. It's that over 10+ years it has a history of recovery, even if prices are to go lower. By comparison, most other cryptocurrencies don't have that history. Out of 22K+ shitcoins, most of them will never recover from the current bear market, just like many others from the past never recovered.

wahyuagung26

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We appreciate you as a new member and joining us in the Forum, and regarding your statement about Bitcoin we suggest that you study more broadly in the Forum, there is a lot of material that you will get of course. And actually About Bitcoin going to Crash like other Crypto this is true but it's not the same as other coins Bitcoin has uniqueness and features that are different from other coins contained in Cryptocurrency.

In the previous year and stepping over 5 years ago exactly in 2018, and last year, Bitcoin had Crash and correction in a long period of time, even so Bitcoin can Recover and continue to grow, in the sense that Bitcoin is not the same as the coins in Crytpo other. and say to Crash to Zero I don't think it's even impossible to happen, so far Bitcoin has been able to survive and pass through some complicated obstacles, and it can be proven that Bitcoin will still be able to survive.

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Bitcoin crashes due to its volatile nature,when I mean crash i.e the price goes dip in the bearish market and after that,it regains back its price. It can't crash to hopeless which is point zero,just like other centralized altcoins. Since 2009 bitcoin has faced so many challenges and it is still surviving.

You are a newbie and you know nothing on bitcoin, that was why you couldn't explain to your friend that bitcoin is not like any other cryptocurrency he knows or have heard. Bitcoin is the king of all cryptocurrency,next time you shouldn't tell people about what you have little knowledge on so that you don't misled them. Also don't force anybody to believe in bitcoin or buy bitcoin because it is a risky investment for short term holders that don't understand the market.

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Bitcoin has had crashes before and even hit bottom prices. But it could all turn around and even bitcoin prices could make ATH highs that we never imagined. Crashes for bitcoin will usually occur after the bitcoin price hits its peak, which is what has been happening all along.

Before this, the bitcoin price had already touched a price peak and finally, the bitcoin price fell step by step to its lowest point at $ 15k. And it seems that right now, the price of bitcoin is experiencing a recovery phase until the price reaches its previous peak.

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Quote from: Sakanwa on February 18, 2023, 03:20:00 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.

Since you are new to Bitcoin and by your own admission you don't know much about it you should avoid trying to talk someone into it. It is a common mistake that many of us did but trust me, you don't wanna that responsibility. Let's say that you talk someone into buying some bitcoin and then it crashes like 75% (which has happened more than once) and in the end your friend might blame you for talking him into it.

Quote from: Ayers on February 18, 2023, 04:01:30 AM

rs after that and hits a new ATH. The crash is not a scary thing but an opportunity because to profit from bitcoin investment, we
I think what your friend is worried about is that bitcoin is going to disappear forever, not crash, and I also want to answer that bitcoin will never die or disappear.

Even though chances for that happening are slim to none, it can still happen. We don't know what future brings and every investment (including in bitcoin) posses certain amount of risk.

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Quote from: Sakanwa on February 18, 2023, 03:20:00 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.

You and your friend have a lot of work to do.

You have to acquire a lot of information, mainly by reading from reliable sources, but if not, there are many means nowadays. Once you know very well about how and when it was created, what it is and how it works, you can make decisions.

Your friend making decisions based on what you tell him and you basing them on whether we tell you that Bitcoin is going to crash or not is a very bad idea.

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The whole point of bitcoin is that you CAN and SHOULD trust it because no one can fake it. It's the most honest and transparent system in the world. Blockchain technology can even be used for voting and stuff.

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Quote from: Sakanwa on February 18, 2023, 03:20:00 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.

It’s your friends wish mate whether he wants to join the forum or not, why forcing him? When he will realise the true potential of the coin, he will automatically join the forum. Moreover anything can happen in future, government can impose strict rules against bitcoins or more worse. So yes currently teach him how independently he can control his finances if he uses Bitcoins. Also say him that he can treat Bitcoins as an asset and can hold it and sell it at more profit. If still he doesn’t wants to join, then leave him at his own way.

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Quote from: Jawhead999 on February 18, 2023, 03:25:58 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. Bitcoin could crash, but the point is Bitcoin can survive and recover from the crashes, not like majority of shitcoins were it will become dead coins due to no demand.

Introducing someone about a subject where you're not completely understand is really a big mistake.

Actually, you forgot 2013/14 and the notorious MtGox crash. Bitcoin is going in cycles and we're currently at the bottom of current cycle (best time to invest). Bitcoin is going to peak around September 2024, reaching $100k+. Every crash is just marking a new beginning, new cycle. Cool

nara1892

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Explaining bitcoin to them, beginners really have to be clear and can't miss a thing, at least for the basics of what bitcoin is. If he asks if bitcoin will crash, then the answer is of course it could happen. It's just that even though bitcoin crashes, it can always get it back up, unlike altcoins (some) which end in scams. We should tell them how when bitcoin crashed a few years back, let them see what happened that year. And when they know it all, let them decide for themselves whether or not they are interested in bitcoin.

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Quote from: Sakanwa on February 18, 2023, 03:20:00 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.

Your friend has a bad question.

Other cryptocurrencies have worse crashes than Bitcoin. They have different reasons to crash like pumps and dumps, rug pulls, hacks. They can be crashed if Bitcoin falls considerable. Hopefully you and your friend see difference here. Bitcoin falls considerable and other cryptocurrencies crash.

If your friend trust other cryptocurrencies but don't trust Bitcoin, he has bad decision.

A better question is "Does Bitcoin not have crash like other assets like stocks, golds, crude oil?"

Stocks, crude oil have falls or crashes like Bitcoin. In 2020, crude oil was traded -$30.

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When we're introducing bitcoin to someone who is close to us we need to teach them, and we should request them to analyse and take decision when it comes to buying and selling of bitcoin and other cryptocurrencies. As we've got risk with investments here the risk is high so is the profiting and loss. One need to understand it in the right way and automatically they'll trust it. Going through the charts too a better way to understand the market and trust it.

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I'm personally long-term bullish on bitcoin, but there's no guarantees with bitcoin going up and there's no guarantees with literally anything concerning markets. With investing, you just need to weigh in the risks/reward ratio to determine if something is worth investing in.

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Quote from: Sakanwa on February 18, 2023, 03:20:00 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.

It is true that bitcoin is not likely to be a scam like other altcoins but there is no guarantee that it could be a major crash as we have seen a major crash in 2017 and later in 2018 when bitcoin dropped from $20000 to $3200. But it didn't last long as Bitcoin once again crossed $68k but crashed again to $15k and the present rate is $24k. this is how Bitcoin sometimes undergoes major corrections. So one should have the patience of long time holding before expressing interest in Bitcoin

Quote from: Sakanwa on February 18, 2023, 03:20:00 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.

Bitcoin may see a major correction but it is unlikely to completely crash and become worthless like another altcoins. It is not mandatory for a person to participate in this forum to know about bitcoin but if someone wants to gain knowledge about bitcoin properly then he can take help of this forum and read various articles including google searching

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Quote from: Sakanwa on February 18, 2023, 03:20:00 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.

Bitcoin crash, but bitcoin never dies means that when we enter a bearish cycle like 2021, bitcoin will crash, losing 70%-80% of its value as the case may be. But after the bear season ends, bitcoin always recovers after that and hits a new ATH. The crash is not a scary thing but an opportunity because to profit from bitcoin investment, we need to buy low and sell high, and when bitcoin crashes, it is buying opportunity.
I think what your friend is worried about is that bitcoin is going to disappear forever, not crash, and I also want to answer that bitcoin will never die or disappear.

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