Can Bitcoin be trusted? - page 6. | Bitcointalksearch.org

lizarder

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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.

Confidence in anything will be formed when you and anyone know him, that's how logic is formed in trusting anything. Trust in Bitcoin will be far more formed when you have the capital to buy it and store it as a long -term investment. Sometimes we need to think simple for something we trust and will be in vain when we believe but never want to be involved in investment.

Don't make sure people that Bitcoin will not crash but instead tell your friends about Bitcoin votality in the market, so they can learn to understand how to solve the impact of risk when they are in investment and give your friends understanding of Bitcoin's trip from the beginning of their appearance until now.

Semar Mesem

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Bitcoin has a strong security system so we rarely hear about cases of hacked wallets, many people tell of losing bitcoin assets but what they use are wallets from exchanges, and what gets hacked are accounts from these exchanges, even so we must always be vigilant and always follow procedures wallet security.

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Quote from: kesmex on May 26, 2023, 04:01:27 AM

of course Bitcoin is very trusted, even though the price of Bitcoin has fallen deeply from its new ATH of $ 65k,
Bitcoin is able to stay above $ 20k, meaning that this level is very strong and can even go up to $ 30k,
especially next year Bitcoin will do a Halving where Bullrun has been getting closer, it's the same as 2021,
and 2024 many people predict Bitcoin will reach $ 100k even $ 200k.

Bitcoin price movements are very fast and sharp, but that doesn't mean that it makes Bitcoin untrustworthy, even now Bitcoin support and users are increasing.
if you have known Bitcoin for a long time, maybe there will be no doubts on the contrary and regarding the price of Bitcoin, even though it has fallen far compared to its last ATH last year, many people still believe that Bitcoin will be able to recover and reach its new ATH in an unpredictable year. define, but I have no doubt that it will.

kesmex

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of course Bitcoin is very trusted, even though the price of Bitcoin has fallen deeply from its new ATH of $ 65k,
Bitcoin is able to stay above $ 20k, meaning that this level is very strong and can even go up to $ 30k,
especially next year Bitcoin will do a Halving where Bullrun has been getting closer, it's the same as 2021,
and 2024 many people predict Bitcoin will reach $ 100k even $ 200k.

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Quote from: Rasa nanas on May 07, 2023, 06:41:29 PM

what does it mean to crash like other crypto? bitcoin is the most popular crypto, if bitcoin crashes it is certain that all the crypto industry will crash. the point is like this, don't equate bitcoin with altcoins especially with new altcoins which in fact many new projects fail.
don't trust bitcoins? it's the same as not trust in the crypto industry !

I also make sure and believe that if we don't believe in bitcoin it means we won't believe in crypto either. it must be understood that crypto has become big because of the role it has created and because of the influence of bitcoin.
if bitcoin is affected by movement, let alone until it crashes, of course it will be affected by the crypto itself.
investors' trust in bitcoin makes many believe in crypto, it must be admitted that many new projects grow and eventually destroy it does not damage the reputation of crypto itself because the existence of bitcoin is still trusted.

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Quote from: Negotiation on May 09, 2023, 06:54:48 AM

Bitcoin has been around for over a decade now and is only getting more popular with time. Along with this, the value of Bitcoin has also increased rapidly in the past few years, which means that people are now willing to invest in bitcoin more than ever before. Even if you hear about bitcoin being hacked, using a strong wallet makes it less likely. This wallet has a private key for security which corresponds to the wallet address. Bitcoin wallets are available in desktop, web, mobile and hardware types therefore the private key will not be shared with anyone.

I feel like its going to grow to a point where people will not ask this. However, lets remember that majority of the world uses dollars and some people still do not trust dollars neither, which happens and we just need to accept the fact that some stuff are just not that easy to handle.

It is not going to be easy for anyone to just do this kind of stuff that easily, it may take a while and it may take a long while as well so it could end up with something major for bitcoin not to be trusted, but with time it will be, we just have to learn how to live with that. I know that not many people trust it right now, and many do, there are tens of millions of people who love it, but there are tons of people who do not like it as well, with time that will get lesser.

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Bitcoin has been around for over a decade now and is only getting more popular with time. Along with this, the value of Bitcoin has also increased rapidly in the past few years, which means that people are now willing to invest in bitcoin more than ever before. Even if you hear about bitcoin being hacked, using a strong wallet makes it less likely. This wallet has a private key for security which corresponds to the wallet address. Bitcoin wallets are available in desktop, web, mobile and hardware types therefore the private key will not be shared with anyone.

ancafe

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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 can imagine you trying to give your friend positive arguments for bitcoin in conversation and I also make sure he is not so sure about going through with it.

If Crash is meant by the rise and fall of the price of bitcoin, we often see it along the way. Even though severe corrections often occur in bitcoin travel, what distinguishes bitcoin from the others is that there is always a recovery moment and returns to strengthen at a higher price, also known as ATH.

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.

Stop convincing anyone to invest in bitcoin, without giving us an understanding that bitcoin will still be one of the best that ever existed. However, if you intend to provide an understanding, then the steps you need to provide regarding risk and price fluctuations, let them try to learn this first.

Because the most important thing is not convincing them to invest, but they have a pattern to avoid the risk of price fluctuations when bitcoin is in a severe correction stage in the market.

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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 will Crash, but Crash won't make Bitcoin die. What I know is that big crashes have happened to Bitcoin twice, but what happened, Bitcoin is still alive and always gives new hope to investors. Crash are only limited to unfavorable conditions for investors who buy Bitcoin at high prices, but for investors who want to get several times the profit will take advantage of crash conditions to collect as much Bitcoin as they can afford.
Tell your friends, there is no investment media that does not have the risk of loss. If you want to introduce BTT and Bitcoin Forums to your friends, the first step you should take is to be able to convince him of the knowledge you have and the results you get from investing in Bitcoin.

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Quote from: asrinur on May 07, 2023, 11:06:06 AM

Obviously bitcoin is very trustworthy. If someone doesn't believe in bitcoin, only sees when bitcoin crashes, it means that person doesn't understand bitcoin thoroughly. Even if people understand about the very volatile price of cryptocurrencies, they will never doubt bitcoin. As we know that bitcoin often crashes and bitcoin can survive and recover from crashes.

Yes, Bitcoin is a very volatile currency and those who don't understand this issue the holders of Bitcoin will lose it after a long period of time. An investors should be understood first. A bullish movement can be followed by a correction in Bitcoin price which is normal. Sometimes Bitcoin price can be dumped without any reason. There is no room to be upset here either. A Bitcoin holder should have a good idea about its dynamic nature. Otherwise it won't be easy for those holders to get the expected returns from Bitcoin in the long run.

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Quote from: 19Nov16 on May 08, 2023, 05:28:20 AM

Bitcoin's main strength is the support of the global community which is very strong, of course many of these communities have tested bitcoin's security, with a private key of around 53 characters it is almost impossible for anyone to guess, hack cases that have occurred are usually because computers or smartphones are exposed to malware so all data can be stolen.

I think bitcoin's main strength is that it is an algorithm built on encryption. So you don't need to trust bitcoin as some other person, you need to trust an algorithm that is independent of third parties. This algorithm will work no matter what, even if the internet goes down in one or more countries, the system will still work. Your country's banking system, for example, will not be able to give you such guarantees. Another issue is the volatility of the price, but bitcoin does not get better or worse from that.

bangjoe

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Quote from: 19Nov16 on May 08, 2023, 05:28:20 AM

Bitcoin's main strength is the support of the global community which is very strong, of course many of these communities have tested bitcoin's security, with a private key of around 53 characters it is almost impossible for anyone to guess, hack cases that have occurred are usually because computers or smartphones are exposed to malware so all data can be stolen.

Yes that's true, Bitcoin is very trusted because the community owned by Bitcoin is very large and the solidarity of its communities cannot be doubted anymore, it is one of the powers of Bitcoin can stand and develop until now. Hack cases only occur in those who are negligent in storing their seed phrase or they do transactions in which there is a trap to be able to enter our wallet, so far no one can attack the Bitcoin network, because of that Bitcoin has become a king in the market.

Quote from: Texac on May 08, 2023, 06:47:35 AM

Quote from: Rasa nanas on May 07, 2023, 06:41:29 PM

don't trust bitcoins? it's the same as not trust in the crypto industry !

Exactly. bitcoin is the most trusted coin in this market, if even we don't trust bitcoin, we shouldn't trust this whole industry. when comparing bitcoin to physical assets like gold and real estate, it is true that bitcoin is riskier. but in return, bitcoin is risky, but the return will also be higher than other safe assets. So investing in bitcoin is very fair, if you can accept the risk, you will get the reward you deserve.

The big return of the risks is also the right word in this Intustry, the Bitcoin market is experiencing extreme volatility compared to other assets outside of crypto and therefore it is said to be bitcoin as a risk asset, but as far as you study bitcoin to this day, a little doubt There must be a decline due to crash several Crypto Exchange platforms that manage large funds, but it should be remembered that it is not bitcoin but service providers such as FTX exchange, or Altcoin like Terra Luna.

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Quote from: Rasa nanas on May 07, 2023, 06:41:29 PM

don't trust bitcoins? it's the same as not trust in the crypto industry !

Exactly. bitcoin is the most trusted coin in this market, if even we don't trust bitcoin, we shouldn't trust this whole industry. when comparing bitcoin to physical assets like gold and real estate, it is true that bitcoin is riskier. but in return, bitcoin is risky, but the return will also be higher than other safe assets. So investing in bitcoin is very fair, if you can accept the risk, you will get the reward you deserve.

19Nov16

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Bitcoin's main strength is the support of the global community which is very strong, of course many of these communities have tested bitcoin's security, with a private key of around 53 characters it is almost impossible for anyone to guess, hack cases that have occurred are usually because computers or smartphones are exposed to malware so all data can be stolen.

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what does it mean to crash like other crypto? bitcoin is the most popular crypto, if bitcoin crashes it is certain that all the crypto industry will crash. the point is like this, don't equate bitcoin with altcoins especially with new altcoins which in fact many new projects fail.
don't trust bitcoins? it's the same as not trust in the crypto industry !

Baoo

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To be begin with, I highly encourage you OP and your friend to learn about Bitcoin and generally Cryptocurrencies also try to check the history of BTC since 2009 after that you will definitely realize in your own if It can be trusted or not. In addition to that, it is been 14 years since Bitcoin on top of Cryptocurrencies despite the attempts from countries. In fact, It has faced a plenty of crashes the most important ones happened in 2018 during Corona virus and in 2021 when FTX collapsed. In conclusion, the crashes are always existing since Bitcoin is not recognized by most of governments and it is pretty certain that they will try again and gain to break it down but as long as the community of this digital coin is progressing and Bitcoin is secured, nothing and no one actually will end Bitcoin’s existence.

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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 has been in existence since 2009 when it was first created by Satoshi Nakamato and co, if you check 2009 till date 2023 is roughly 14 years of Bitcoin's existence, at least a good number of years to consider being successful. Too the fact that no one person or Government control Bitcoin, it's truly decentralized which makes secured. No one can print more than 21 Million Bitcoin as it's currently not own by Government who has money printing machines to print more Bitcoin, though Bitcoin's technology is only made to be digital.

However, no one beholds the future to know what will exactly happen in the future, but with evidence on ground as regards to the performance and transparency in the system, I do think that Bitcoin has come to stay.

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Short term price fluctuations do not indicate a level of trust as you ask OP. If you mean, can you rely on bitcoin as a store of value which will beat inflation over years & likely rapidly increase in $ perceived value over years then I would say yes.

Price fluctuations are very much still part of bitcoin. It is not a stable coin, there are times when we see wild swings in both directions. Your money is definitely going to do well invested in bitcoin though so in that sense, yes you can trust bitcoin.

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Quote from: Lantind on May 07, 2023, 01:05:26 PM

Bitcoin has been developing for a very long time, it's no wonder that people have put their trust in Bitcoin, so far Bitcoin has always proven that bitcoin is in great demand and the level of popularity is increasing day by day, from several other aspects it is convincing that Bitcoin is very trusted by many person.

Those coins are hardly to blame. It's the people handling them, Bitcoin and a few other decentral coins are not manageable. Coins like Luna is a different ballgame.

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Quote from: asrinur on May 07, 2023, 11:06:06 AM

Obviously bitcoin is very trustworthy. If someone doesn't believe in bitcoin, only sees when bitcoin crashes, it means that person doesn't understand bitcoin thoroughly. Even if people understand about the very volatile price of cryptocurrencies, they will never doubt bitcoin. As we know that bitcoin often crashes and bitcoin can survive and recover from crashes.

Bitcoin has been developing for a very long time, it's no wonder that people have put their trust in Bitcoin, so far Bitcoin has always proven that bitcoin is in great demand and the level of popularity is increasing day by day, from several other aspects it is convincing that Bitcoin is very trusted by many person.

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