Topic: How much do you Trust Bitcoin ? - page 2. (Read 307 times)

No matter how many competitors you name to Bitcoin, nothing has ever come to the market to overtake Bitcoin in popularity and acceptance. I always rank Bitcoin above everything else. If someone tells me how much you trust Bitcoin I will tell them I trust my banking system zero percent but I trust Bitcoin 100%. Banks in my country can go bankrupt at any time but Bitcoin will never go bankrupt because Bitcoin is not controlled by a third party.

Unlike any other investment opportunity, you only risk a little when it comes to investing in bitcoins because you are not like the other people who sold their houses and other important things just to buy bitcoins and some others used their grandmother's retirement fees to buy bitcoins which is not really recommended especially when we are talking about huge amount of money. The best approach when it comes to investment in bitcoins is to have small allocations from your salaries or give up some bad habits like smoking and drinking alcohol in this case if you don't get a good result from investment, you save yourself from wasting your money and when you hit the jackpot if the price will significantly increase, you also win the challenge. So in the end, it depends on the person if he chooses the right choice for him in his investment and this is how we trust bitcoins because we know what we are doing with our money.

I trust Bitcoin completely and if in quite simple terms with the numbers 0 to 100. I will put my trust in Bitcoin at the full 100%, because until now there has been no other digital asset that has been able to overthrow Bitcoin and make a big impact on overthrowing Bitcoin so that other things like DeFi and NFT will only prosper as usual and there will be no more influence from them to make Bitcoin decline. Because Bitcoin will remain strong with many users forever.

Still 90plus ofcourse. We cant deny the addition of defi and nft but traditional coin like bitcoin would always be the king. In fact everything in the cryptospace still rely on its movement. So safe to say that its still trusted by majority of industry whatever they are whales, institutions, anon and anyone who are still into crypto.

Nothing is 100% as that will indicate a perfect system but I will go with 98. Bitcoin is the only transaction you cannot toy with and the security is superb. It's only with bitcoin you can make a transaction and worry less about if it has reach the destination or not because as soon as a confirmation is done and has a max of 6, it cannot be reverse and that is one aspect I love about it.

Another reason why I love bitcoin is that there is no censorship, it's highly resistant to that because as of this month, tether has blacklisted ethereum address claiming it is use to finance Isreal and Palestine war, this could be true and it could also be a lie because this are all suspicion until proven guilty and a place where everyone is allow to use without anyone authorization, it is not possible and yet the wallet address are not going to be able to clean themselves again. However, this cannot happen in bitcoin, a coin belong to no one except if you have the private keys or seed phrase to that account.

In addition why I trust bitcoin very well is the security to wallet. You can give your bank account a maximum security from theft and still get the shock of your life by losing your money because many cases have reported where insider worker compromised informations and steal money from customers. This can not happen with bitcoin except when you misplace your seed phrase or private keys.

Bitcoin has really shown it can stand the test of time.  I mean, think about it - this thing has been around for almost 14 years now, which is pretty crazy when you think about how fast technology moves these days.  Sure it's had its ups and downs, but it just keeps bouncing back.

So do I think Bitcoin is here to stay as one of the top players in crypto? I'd say the chances look pretty good.  But that doesnt mean it's not gonna have to keep adapting.  If Bitcoin wants to keep its spot at the top, it's gonna need to roll with the punches in terms of changing markets and what people want out of it.  It can't get stale.  but if it can keep that core decentralized secure vibe that made it big in the first place, I dont see why Bitcoin can't keep on truckin' as one of the leaders.

Although I have a lot of faith in Bitcoin, anything can happen. Because we can never guarantee that we will make a profit after investing. There can also be loss after investment here. We must always remember that nothing is certain. So all things considered my confidence in Bitcoin is 70-100.

For one to trust bitcoin completely will be a mistake because there no 100% guarantee that bitcoin will survive for ever or that the price will keep pumping till infinity. But I do believe that the possibility for bitcoin value to increase with timeline is higher than it going down. This is why it is good to only invest with the amount that you can avoid to lose so that if anything happens along the line, you can continue with your life without much effect of your loss on you financially.

I have 65% trust on bitcoin because over the years it has shown its potential value which is something on can give some level of trust on. It has also shown that it can do better than other assets in the long term when it comes to profits that can be gotten from it and also an hedge to inflation, all these put together is something worth to trust her.

I think everyone on this bitcointalk forum has a belief or faith in bitcoin. It's hard for anyone to measure trust in BTC using a scale of 0 to 100 because if you're new to investing when Bitcoin's price rises, you may lose faith in Bitcoin if you don't get the results you expected. And if the results are even slightly as expected, your bitcoins will continue to grow day by day. It is very difficult to consider only numbers here. I don't want to measure any scale when it comes to Bitcoin. In my case if I say I am a middle class. I can invest very small amount of bitcoin which is limited to my needs. But that doesn't mean my confidence level in Bitcoin will be very low. Bitcoin's trustworthiness and value will depend on its adoption and use in the real world rather than personal confidence levels.

Bitcoin, DeFi and NFTs are all entirely different things and shouldn't be mixed into one question of trust.

Bitcoin is trust-less by design. Due to it's purely decentralized nature, you don't need to trust whether or not Bitcoin will be here tomorrow. You probably need to trust the internet on whether it will be here tomorrow or not more than you need to trust Bitcoin.

I determine my trust in DeFi based on the protocol and am extremely vigilant in the protocols I choose, if I use them at all.

I don't trust NFTs because the industry and the majority of the value of what is within it is subjective, unreliable and probably manipulated for the most part.

A currency that has consistently maintained its nature for 14 years should be trusted. Bitcoin has never derailed from the whitepaper published by its founder. It has also been able to grow stronger even in the face of attacks and diverse challenges. Bitcoin is designed to be a decentralized currency which means it displaces any form of intermediary. Any decentralized finance that promotes peer-to-peer financial services will be a plus to the Bitcoin ecosystem. Regulation is an enemy of Bitcoin because it will limit its quest to promote pseudonymous financial transactions.

But it is also important to note that we don't just trust in the Bitcoin space, we verify. And doing your own research is an ideal way to verify a coin or service in the crypto sector. To answer your question, I trust Bitcoin 100% more than any other cryptocurrency.  

100, yes that's right 100, I write consciously and without the influence of any drugs lol. but it's true, I've been following bitcoin since 2014 until now. If you want to draw a straight line from the range 2009 - 2023, the Bitcoin graph shows extraordinary growth. for me there is no doubt about bitcoin. Unless you are a typical short term trader, I can't blame other friends who don't believe in Bitcoin because of its very high rises and falls. I am typical for long term, I don't really care about the ups and downs of Bitcoin, I keep piling it up from year to year, which I believe until now, Bitcoin has never touched its ATH.

DeFi and NFTs can only complement Bitcoin in one way or another, but they aren't the technologies upon which Bitcoin's success is founded. With or without them, Bitcoin would work and achieve success. Having said this, I trust Bitcoin a lot. Not 100 because it isn't perfect, but it would be above 90.

At this point in time, both DeFi and NFT aren't in their best forms yet. To a certain extent, rather than making Bitcoin's philosophy stronger, they're giving Bitcoin a bad name instead. But they'll probably develop into better versions in the near future.

Actually when I was not in here before all I heard about Bitcoin is scamm which is pretty bad, cause here in my country there are many scammers who promoting bitcoins but in the end of the day all your money will gone.
But now when I joined here I realized that Bitcoin is one of the best coin in crypto world cause as we all know and witnessed way back few years ago how Bitcoin rise up and many investors got profits on that.  Honestly I am not a big investor cause I am In a stage of middle class so I'll prefer to invest my exist money an d not all my income from my regular job.  So if I rate my trust in Bitcoin then all I can say is that I need more knowledge to control myself in investing so for now I am 85% trust Bitcoin.

I cannot say I fully trust bitcoin 100%, but let me be sincere. I trust bitcoin 80% because many people are already rich in this industry, and that is the reason why I trust bitcoin even that much. However, if you look at it, you will see that bitcoin has been existing for a long period of time and nobody has complained badly about it. The only people complaining about the currency are those that invest and can’t take risks; they now sell; they didn’t gain, so those are the people that complain and those who got scammed, which is due to their negligence. Therefore, if bitcoin can betray it, it will not be now. The only time I get jumbled about it is when the market turns upside down, and when I remember, I only invest the amount I can afford to lose; I don't bother anymore. If I’m not bothering the maker, I would have 100% trust in bitcoin.
 


You are right, mate, banks have been betrayed and many people still continue using such banks, so therefore, I also believe using bitcoin is nothing, but when you have trust in yourself, you will enjoy your bitcoin investment as other people did a long time ago and it will continue happening. However, as we all know, bitcoin is something that you will be in charge of if your funds are managed, which means that nothing will happen to it unlike banks or other organizations, who will be the ones to control your funds, which is not supposed to be like that.

I don't care about the impact of alt stuff like NFT or DeFi, because in all my years spent in this ecosystem I never saw evidence of altcoins impacting Bitcoin, but I am worried about Bitcoin itself - specifically how much of its value is just random speculation and how much is solid fundamentals. It could be that Bitcoin is vastly overpriced and will crash hard when the speculators will quit it for a new or different type of asset (not altcoins or something like that).

100.

It's funny that we're still comparing Bitcoin with these projects that are into DeFis and NFTs. Have you noticed that most of the projects that are on these sectors have already been dead?

While Bitcoin, it stands firmly and still gaining the price back closer to the former ATH and could be more than the past ATH when we achieve the bull run?

You are romanticizing what's with DeFis and NFTs where in fact that many projects there have already lost the interest of the community.

Everyone trust the banking system and the internet without understanding how it is been operated yet so many times the trust has been broken but will still make use of them. But Bitcoin was made so you don't have to trust others, which means you've got to trust on but yourself. You don't have to trust it, that's the nature. This is because no one knows what the actual price at any moment will be. The technology is great so it's on you to avoid scams and take steps to keep your investment safe and risk free.

I have the same trust if you compare it to altcoins but what about your trust without comparing it to altcoins and such?. Well, if it won't change then does that mean you are willing to risk all of your money in investing Bitcoin?. If not then you did not believe in Bitcoin 100% to start with. We all know that it is volatile therefore it is not guaranteed that you will earn profit because It's all about patience and if you don't have enough patience then you may lose some of your money.


I am also not sure what percentage it will be because it all depends on how much money are you going to risk when you invest in Bitcoin so I don't have exact percentage and It could be 80% the highest or lower since it depends on your situation (like needed money for now so you have less money to invest and maybe next time).

Well, you have your opinion and trust level on Bitcoin. But I think when it comes to trust level, Bitcoin has gain a particular amount and alot of people actually respect and trust Bitcoin enough to use as high as 80% of their earnings especially during this vital period in the market and this also what has led to this share growth of Bitcoin over the years as it has completed the repeated circle always and will always let people have something to believe in it more and more.