Topic: How much do you Trust Bitcoin ? (Read 307 times)

I trust bitcoin so much that I don’t even have a doubt about it or have a negative notion about how it is going to farewell in the future. Bitcoin has proven it since the day it was launched and it continues to grow immensely in the face of many obstacles stopping its widespread or long time adoption. I trust bitcoin so much and I will give it a 99% rating if I’m to rate it from 1-100. The remaining 1% is the uncertainty of what the future will be, as it is not certain and could not happen, bitcoin is tested and trusted, it is a dependable currency.

from 0-100 my trust in bitcoin reaches 90, why is that? because from what I have noticed, no one can drop the price of bitcoin drastically, while the majority of defi or nft are trash projects and the price of their respective tokens is almost to zero

Bitcoin is immune to inflation and is also not centralized therefore Nialinay will continue to fluctuate but there is high interest, we will continue to see Bitcoin attracting many people while projects such as Defi tokens and NFT will disappear over time

I strongly believe in the long-term potential of Bitcoin and in the promising blockchain technology that has revolutionized the financial system with its tremendous capabilities. I have confidence exceeding 98% in Bitcoin as a currency, and many investors like me place most of their capital in it with certainty and trust more than any other altcoins. However, when it comes to DEFI or NFTs, it's a different story. They may positively impact Bitcoin by increasing its growth and use cases. Still, this impact could be damaging in the event of DEFI protocol hacks or congestion in the Bitcoin network resulting from the minting of NFTs on the ordinals network and the increase in Bitcoin transaction fees. Satoshi did not create Bitcoin to operate in this way, and that's why I believe what will go against the nature of Bitcoin may fade away someday. However, Bitcoin and its technology remain alive no matter what happens.

Cryptocurrency is not a regulated assets as a whole so asking how much one should trust Bitcoin is a different aspect. We all come together to trade and invest in cryptocurrency and so doing making money of it and also with the losses involved. One thing you need look out for is not letting the losses be more than the winning.

I trust bitcoin as a technology 100%, but my faith in people is much lower than these numbers. Haters, opponents of the bitcoin represented by officials and supporters of the traditionally established financial system (serious levers of power are concentrated in their hands) will in every possible way hinder the progress of this electronic money and technology. Their influence may affect the long-term viability and stability of the bitcoin, unfortunately.

I don't think NFT can affect the bitcoin as a leading cryptocurrency. NFTis a temporary hype, while bitcoin, like art technology, is eternal (how long can it be used by humanity).

Your trust in Bitcoin is based on how you understand its financial and technological potential.
The impact of DeFI, NFTs, and the regulatory landscape is just to shift people's attention from Bitcoin because DeFi is still operated in the same exact protocol used by institutions while NFT is just another playground scammer.
Having said that, I believe the major problem we have now is the regulatory landscape and every Bitcoiner should be more careful especially now that the giant investment companies ^{(BlackRock, Fidelity, etc are going after top crypto firms. An example is Binance)} are planning to rule the crypto market.

Like I have DeFi and NFT is just another scam playing ground soon we will hear that another DeFi rug pulls or get hacked while NFT will lose value to zero.

100

Trust on Bitcoin is 100%. Everyone one has a question why 100%.why not 100% we all are Bitcoin lover and we all know to policy and Bitcoin market strategy. The market analysis show us that proper invest analysis give us profit without faces losses. So why not 100% trust on Bitcoin.

Currently my confidence in bitcoin is more than 50%. Because bitcoin is a very promising and high quality digital asset if you look at its current development. Maybe if I believed 100% in Bitcoin, right now I still can't. Because after all, in my personal opinion, any investment asset has its risks. Therefore, my trust in Bitcoin is not 100%. Because in my personal opinion, those who invest will definitely not have full confidence in the assets they invest , and I am no different.

Hey OP This is a big topic of discussion with lots of opinions. I really believe in BTC and to Buy BTC today is simpler than before but I am confused looking at BTC fees now. Cheers.

I believe NFTs are going to have a negative influence on Bitcoin as we can see right now with the network fees even though it's temporal. But aside from that I believe NFTs have a negative influence on Bitcoin because so many people will lose money to NFTs, it has been preached to some as a sure way to escape poverty. Now when these bunch of people flock in and lose money, they'll categorize everything related to crypto as scam or fraud, including Bitcoin. Few might see that NFTs are not Bitcoin but many would avoid it because of their previous experience. This has already happened and it's happening right now and will still happen.


I think it would be a 97 and this is me being modest. We can see the facts and figures. No altcoin or NFT has come close to Bitcoin, talk more of reaching it, before surpassing it.
The features of Bitcoin are unique to any other coin. It's even more fascinating when you realize that it's the first cryptocurrency ever created. Usually, other inventions in an industry do better than the previous one, but the reverse is the case with Bitcoin.
Bitcoin has been better than every other coin ever created.

For bitcoin to still remain a trending coin since it was introduced and to have gained more popularity and interest over the years have given me more confidence that this coin have came to stay, bitcoin volatility cannot be compared with any other coin and some of the coins that was introduced along side with bitcoin crashed along the line while bitcoin still remains unshakable for a very long time now.

It is understood that the decentralized approach of this coin have even made it gain more trust and acknowledgement because you don't actually need a third party to be involved before you can make transactions as transactions can just be done through p2p without any doubt from both parties.

The introduction of block chain have even made it more visible as every of a person transactions are being recorded on each blocks of many networks that connects to each other thereby making transactions difficult to be altered by any device or person.

A 100% Bitcoin is always going to be better than any narratives that's been spread for some group of people's selfish interest. Defi or whatever new thing that's trending now wasn't the first to come into the picture. Every bull market a new trend comes along but guess what, with time they'll all fade away and that's why it's very important not to neglect Bitcoin and case after those new trends as you'll regret such decisions in future. At a time we had masternood projects dominating the industry and it moved to defi, metaverse and other trends like AI and so on. They'll have their fair share of the market but as their hypes dies so will they vanish from the market and if you put your hopes on them, you'll regret. There's nothing wrong in trading them for some profits but never neglect Bitcoin because of some trend that'll fail soon.


There's something called first mover advantage and that's what Bitcoin has, Bitcoin is going to be in the game longer than any other cryptocurency projects because it's the most trusted and that isn't going away. Bitcoin opened the door for others so it'll always have that respect as the first one to do it. In regards to trust between altcoins and Bitcoin, Bitcoin should be given the priority because no altcoins will overtake it. Altcoin and the trends the OP is talking about will come and go but Bitcoin will still be here. Those altcoins do well for a very short timeframe like we have currently with AI season that projects with focus on AI are receiving the most attention. After now they'll stop doing well but Bitcoin will always been in the limelight even when those trends are at their highest peak. Saying no one should trust Bitcoin completely is misleading because what's there not to trust Bitcoin completely for? Nothing will last forever so that's not a reason not to trust Bitcoin.

The BTC ecosystem is still young and not yet fully mature, there are still many things that need to be addressed and currently there are many cases in the crypto world, both from hacking and technical or non-technical errors on exchanges which result in consumer wealth.

However, I am sure that the crypto world will develop quickly and my own level of trust is almost full but not 100%/ but this will also be a necessity that makes things easier and can eliminate dependence on banks.

my trust in Bitcoin? I confirm my 100% trust in Bitcoin. No matter what the outcome will be, I believe in Bitcoin, in how it develops, grows, and also various things about it both now and in the future. I doubted Bitcoin in the past, but after knowing how the cycle and development of Bitcoin has been so far, I really believe in Bitcoin. by accepting various risks. And what is certain, these risks are risks that I can still handle.

It cannot be influenced by altcoins, whatever model of altcoins, I don't think Bitcoin will be easily shaken. If it was like that, it should have been done a long time ago because in the past it was also often linked to other altcoins. But in reality, they do not have a big influence on Bitcoin.

50 for me.  As a technology, Bitcoin may become obsolete or can adapt to the changes depending on the performance of its developer. 

I will always have reservations when it comes to technology since technology is there to be outdated by other technology.  When it comes to market domination, I believe that there is no constant in this world but change, there will come a time when some cryptocurrency will outpace Bitcoin though I do not know when but I believe it is certain.


DeFi is yet to be perfect and I think it will take a very long time before it fixes its glitches and flaws.  I do not have any timeframe for when this problem with DeFi is fixed but I believe that there will always be an exploit without a high security as Bitcoin securing the network of these DeFi's.  While NFT is all hype, I do not see any usage for these NFT but just a decoration and subject for bragging.  Itmaybe be used to represent ownership of real-world asset but I do not think that it will overcome Bitcoin's dominance in the market becaue if these assets is to be traded, I think it will be done through real-world transaction and the NFT that represent that asset can just be sent to the buyer without undergoing digital market trading platform.

You didn't have to explain it this way for anyone to understand you...why would you compare the durability of this instable coin that has atleast served the public and gained global Trust for over a decade to a NON- fungible token?.. has it value surpassed Bitcoin over the years it has strived?..

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what do you mean "regulatory landscape"? .. is there any news on the adoption of NFTs as legal tenders?... you must be a clown

Sandra 🧑‍🦰

Bitcoin cannot be compared to all you've mentioned above, they are centralized networks and bitcoin is a decentralized digital currency even though they all exist o the blockchain but different networks, bitcoin is a lifetime digital currency, others are testnets or mainnets digital projects or smart contracts developments, they may be all volatile but bitcoin is more regarded well than every other ones in question.


What i know is that every other smart contracts projects, defi or NFTs all have to depend on bitcoin for their survival because it's the king of cryptocurrencies and nothing to argue about that, they depend on bitcoin while bitcoin stands on it's own.

Well now you have to understand something and that's what do you trust Bitcoin on, many people has their definition and expectations about Bitcoin, in terms of Bitcoin getting more adoption level I trust Bitcoin hundred percent, in terms of Bitcoin changing the way we carry out financial system transaction positively I trust Bitcoin hundred percent but in terms of Bitcoin making one a billionaire from nothing then I have my reservations on that.

If asked about the trustworthiness of Bitcoin, I would trust Bitcoin more than any other altcoin.
Everyone has confidence in Bitcoin because we already know that Bitcoin is the first digital asset that provides many benefits and has many investors. But there will be no trust impact because of NFT and Defi, they have their own way.
Those who are quite skeptical about Bitcoin don't fully understand how the two work.

I have loved the name Bitcoin right from the first time I started involving into crypto currency but based on the rate at which scammers are using Bitcoin and other coins in the crypto world to scam people, I didn't like it that much but since I find my way here on this Bitcointalk forum, I have learn a lot about Bitcoin.
However, Bitcoin is a legit source for investments purpose and other good means (wether in business or what ever) and Bitcoin is trusted almost world wild, but it is only those that has misconceptions about Bitcoin that doesn't feel comfortable when dealing with it.
As for me, I am already investing on Bitcoin and at the same time holding my coins.

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.

Aside from the estimated waiting time for Bitcoin investment, I have 100% trust in Bitcoin when it being pit at comparison with Altcoin such as Defi as mentioned by the ops, a lot of times, we tend to bring Bitcoin down by trying to compare Bitcoin with other project and coins, but that is a wrong assumption and class comparison for bitcoin and should be avoid in any discussion because when it comes to trust, there is no level ground between Bitcoin or any altcoin no matter the hype that may have been created around those coins or project.
So for me, bitcoin all the way and I want to advise anyone most especially newbies to take such high risk as to hold Defi tokens for the long term based on just promises, but Bitcoin has proven time without number that it is ahead of the games, and investor funds are secured as long as their patient enough to wait.

Depends on situation since there are times that my trust goes 50-50 depends on the market condition like we are experiencing a bearish market condition and certain thing is unexpected to happen then from that I always have a doubt then do some proper checking before buying since its hard to be in situation where we need to hold for long months without seeing some good movements. But in situation where BTC is showing some glimpsed of having a good run like a total Bull run that we called provably level of trust became more high and I think its goes to 80% since from that we don't need to worry anything since price would usually go up. The only thing we need to wait for that is when to sell and everything is fine at our end especially when we are taking our profits and enjoying the efforts we made on good season of BTC.

For me, it's hard to level my trust in BTC using 0 to 100 since I only invest in what I can afford to lose so i'll say it's around 60-100. I  don't know for others on what number they will use since we all did the same which is invest what we can afford to lose. To be honest, I don't rate my trust in BTC because I don't think I can level it myself and one more thing, I don't think it's because of those two that it is the factor that will change the overall level of trust we have on BTC because Bitcoin had already existed and been use many times before it existed. I agree with the above post that we shouldn't dwell so much on our level of trust in Bitcoin.

Even though it is expected that we have some level of faith in Bitcoin to be well invested in it, we should not forget that nothing is guaranteed, nothing is promised. I don't think we should dwell so much on trust that we should jettison the need for responsible investing.

As a guide, what you should put in Bitcoinshoulg only be kidney you don't need urgently, money you can afford to live your normal life without it. This is why the DCA method is recommended for anyone willing to venture into Bitcoin.

To what extent do you believe in the long-term viability and stability of Bitcoin as a leading cryptocurrency, considering the impact of decentralized finance (DeFi) and non-fungible tokens (NFTs) on its perceived value, adoption, and regulatory landscape? How do you perceive the potential influence of DeFi and NFTs on the trustworthiness and growth potential of Bitcoin, and how does this factor into your overall level of trust in the digital asset ?
To make it simple from 0 to 100  how much do u trust on Bitcoin ?