Topic: In a world where trust fails - page 2. (Read 354 times)
Bitcoin is a decentralized currency that have it's own autonomy, so emphasising on trust via centralized currency and decentralized currency, so on decentralized currency which is Bitcoin from this scenario, the reliability in Bitcoin can be seventy five percent sure in terms of security purposes and confidence, actually people rely on bitcoin base on Satoshi ideology or concepts over personal management and higher security of protecting your currency, but in the aspect of fiat currency, the reliability is not what can be secured because it can be easily be manipulate because of it's centralized. So trust building is sure in Bitcoin than fiat.
Bitcoin won't help to get rid of the greed and the scamming, which has become part of human nature. It seems like society has accepted that it's completely fine if you cheat and steal if there is an opportunity for that. Fraudulent activities haven't decreased with the introduction of Bitcoin. They have, in fact, increased because crypto opens up new possibilities. That also entails new ways to scam someone.
A trustless and decentralized protocol still needs two honest parties to fully utilize its advantages. If we are talking about P2P trading without the use of a 3rd party, which is one of the benefits of using Bitcoin. If we are just moving that trust from a traditional financial institution to some other middleman, we have just changed the packaging, but the faulty product has still not been fixed.
A trustless and decentralized protocol still needs two honest parties to fully utilize its advantages. If we are talking about P2P trading without the use of a 3rd party, which is one of the benefits of using Bitcoin. If we are just moving that trust from a traditional financial institution to some other middleman, we have just changed the packaging, but the faulty product has still not been fixed.
I have come to full appreciate the innovation of Bitcoin and Blockchain that has opened the door to decentralization. A peer-2-peer network system where everyone is protecting their interest through a consensus mechanism. If it must work we all must make it work kind of mindset. A system where everyone needs each other to keep the vision growing.
This is quite motivating, it feels good being amidst people you can relent on, trust and believe every spoken words of their mouth, this also serve as a lesson to us all that after being a active member of this unique forum, we are not expected to join the world of all manners of fraudulent activities, because you cant be in this forum and remain the same way you came.
Satoshi really saw the future of mankind and taught of this innovation
Satoshi has done his part and the impact remains, it is left on us too in deciding what footprints are we leaving behind for generations to come
But before you will trust Bitcoin you must understand how it will work.
We saw there are different reports of losing their Bitcoin and getting scammed because they don't know how to protect their asset though they know that Bitcoin brings them freedom and could be trustless but they'd lack of knowledge how to keep it. So IMO, Bitcoin isn't for everyone, if you're willing to understand what is Bitcoin how the mechanism work, then, Bitcoin it's good for you.
Satoshi, the name who created Bitcoin and we should be thankful to this person that until now many people have been benefited and changed their lives through using Bitcoin.
We saw there are different reports of losing their Bitcoin and getting scammed because they don't know how to protect their asset though they know that Bitcoin brings them freedom and could be trustless but they'd lack of knowledge how to keep it. So IMO, Bitcoin isn't for everyone, if you're willing to understand what is Bitcoin how the mechanism work, then, Bitcoin it's good for you.
Satoshi, the name who created Bitcoin and we should be thankful to this person that until now many people have been benefited and changed their lives through using Bitcoin.
Greed is human nature and that won't be gone for some people that haven't learned a huge lesson for having that attitude. Whilst the others have learned in an expensive and hard way, that made them change.
We now live in a society where no one trust each other for a reliable business any longer.
I still believe about trusting people for business partnerships is still existing. Lately, I talked to a couple of my friends about forming a business and we're all sincere to what we're planning but there's no execution yet and that's why I believe that trusting others about you and their business is still existing. 
Bitcoin, although often referenced as a trustless system, is not really exempt from requiring trust at some levels. Fine, there is no central authority nor organization behind it, but we still need to trust the software, and that those that are evolving it do it flawlessly, and are on the watch out for potential menaces to the subjacent protocol and encryption.
It is of course open source, so one could go and verify for himself, but let’s be honest, there are very few that will attempt to do so, and even less really capable. It’s trust on a different scale, but trust nonetheless, although shifting the focus to an ameliorated scenario …
It is of course open source, so one could go and verify for himself, but let’s be honest, there are very few that will attempt to do so, and even less really capable. It’s trust on a different scale, but trust nonetheless, although shifting the focus to an ameliorated scenario …
We now live in a society where no one trust each other for a reliable business any longer. A world where greed and selfishness is eating up the world at large, a world where every one thinks about only themselves and what the stand to gain in every process they engage in not minding if others had a stake.
I think nobody should be trusting their money to anyone. This is not related to greed or selfishness, but to freedom.
Bitcoin and its trustless system has nothing to do with greed or "everyone thinks about only themselves".
It is about I am the owner of my money and I decide about its fate. This is about property rights, freedom and censorship.
But most of people is using centralized exchanges and even worst hold their coins on there, while there's many non custodial wallet and decentralized exchanges exist. People need to move from CEX to DEX, this will prevent from any hack, scam, data breach events... also make the volume trading better. Lack of liquidity and higher fees are disadvantages of DEX, that's the reason DEX is so underrated/unpopular. If someone still holding his coins on CEX, I think he doesn't even understand why does Bitcoin was created and just looking for profit.
With decentralization which means giving up legal guarantees to get involved in problems, it actually opens up more opportunities for people to cheat and be deceived. Therefore, in a decentralized financial system it is more popular to use the word "don't trust, verify". A trustworthy person will first suggest research and explain the risks rather than shouting "trust me" and "it's profitable".
I have come to full appreciate the innovation of Bitcoin and Blockchain that has opened the door to decentralization. A peer-2-peer network system where everyone is protecting their interest through a consensus mechanism. If it must work we all must make it work kind of mindset. A system where everyone needs each other to keep the vision growing.
Unfortunately this p2p network is not void of people who have been scammed and the bitcoins never returned. Trust is not a commodity in the market these days, it has to be earned and to be earned, there has to be a proven track record. Don't just trust the p2p network simply because you believe in satoshi and his vision for a safe transaction space with everybody's interest represented, even among the biblical selected disciples of Christ there was still a judas", don't easily trust.
If BTC is a country that we humans are living in it will make more sense with is full decentralization but what about the outside world? Greed will always be here
1. Years back few people stood up to take the name of BTC creator, that's complete greed.
2. Scammers still Rob people off their coins anyways either through hacking, phishing or other.
3. Regulation is still pushing BTC and other crypto back, not all humans have the confidence to still own a BTC since the government aren't giving them the go ahead which is where I think regulation will work.
My point is no matter how might a sword can be the wielder can be consumed by greed, evil, good, or other.
1. Years back few people stood up to take the name of BTC creator, that's complete greed.
2. Scammers still Rob people off their coins anyways either through hacking, phishing or other.
3. Regulation is still pushing BTC and other crypto back, not all humans have the confidence to still own a BTC since the government aren't giving them the go ahead which is where I think regulation will work.
My point is no matter how might a sword can be the wielder can be consumed by greed, evil, good, or other.
We now live in a society where no one trust each other for a reliable business any longer. A world where greed and selfishness is eating up the world at large, a world where every one thinks about only themselves and what the stand to gain in every process they engage in not minding if others had a stake.
I have come to fully appreciate the innovation of Bitcoin and Blockchain that has opened the door to decentralization. A peer-2-peer network system where everyone is protecting their interest through a consensus mechanism. If it must work we all must make it work kind of mindset. A system where everyone needs each other to keep the vision growing.
Now there will be no need for fear of greed or self centered motives because for the system to get altered every one must come in agreement like wise the same concept if the vision must continue working. No one has autonomy of the system, no central authority no regulatory agency. Satoshi really saw the future of mankind and taught of this innovation
#Thanks to Satoshi
I have come to fully appreciate the innovation of Bitcoin and Blockchain that has opened the door to decentralization. A peer-2-peer network system where everyone is protecting their interest through a consensus mechanism. If it must work we all must make it work kind of mindset. A system where everyone needs each other to keep the vision growing.
Now there will be no need for fear of greed or self centered motives because for the system to get altered every one must come in agreement like wise the same concept if the vision must continue working. No one has autonomy of the system, no central authority no regulatory agency. Satoshi really saw the future of mankind and taught of this innovation
#Thanks to Satoshi
Jump to: