Why is Bitcoin in the highest level of trust?

Vaskiy

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Quote from: panukurap on January 10, 2022, 10:12:47 AM

Bitcoin has the highest level of trust it seems because Bitcoin is the first coin that has ever existed in cryptocurrency, besides that Bitcoin also includes staying strong and surviving from the beginning until now. Even Bitcoin's performance is getting better from year to year, this certainly makes many people interested and believe in it. Until now Bitcoin is still leading to be the king of crypto, almost the whole world knows about Bitcoin.

Were There Cryptocurrencies Before Bitcoin?

Even before the innovative bitcoin into the world there were more attempts of creating cryptocurrency and digital cash. However very few have succeeded in this, and hasn't reached the level of usage as bitcoin. Those are very early days for technology to make big changes. Bitcoin got innovated at the right time, which means people are well aware of technology and got used to it. This made it grow gradually.

panukurap

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Bitcoin has the highest level of trust it seems because Bitcoin is the first coin that has ever existed in cryptocurrency, besides that Bitcoin also includes staying strong and surviving from the beginning until now. Even Bitcoin's performance is getting better from year to year, this certainly makes many people interested and believe in it. Until now Bitcoin is still leading to be the king of crypto, almost the whole world knows about Bitcoin.

LUCKMCFLY

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Quote from: HUSTLER on December 30, 2021, 01:05:04 PM

Bitcoin's trust comes from the fact that all the transactions are public and no one can change them or manipulate them, there for there is no room for fraud and injustice, which we normally would find in the current economic environment in our society, where transactions are controlled and manipulated by banks and governments where bribe fraud and corruption can be done freely and they go unnoticed, because no one has access to them, that is why we need bitcoin or the blockchain technology to be implemented into our real life transactions to bring back trust.

It is that trust lies in several ways, firstly the trust that the transactions are safe, and that the money that is handled through BTC will arrive in seconds and that is already above any bank worldwide, besides that they are not needed No bank permits to move the money that we want, with a bank yes, then the trust and security that BTC provides is unique.

Confidence worldwide has already begun, and it is incredible, but it began with a government of a third world country, how is such a country an example to Europe and the USA? What happened to level 1A countries? Well, they are receiving a lecture from El Salvador, on how they are taking advantage of the benefits of BTC, where a president did not believe the IMF or any international regulatory body, he only did what was right, I think that more confidence in the world cannot be given, I think that now most countries will stick to the model implemented by El Salvador.

BuNga_cute

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Quote from: milewilda on December 27, 2021, 06:09:45 PM

Quote from: BuNga_cute on December 27, 2021, 06:04:06 PM

Quote from: jostorres on December 24, 2021, 04:39:36 PM

Quote from: BuNga_cute on December 24, 2021, 04:30:24 PM

~

What you say is true and makes a lot of sense, because no matter how good Bitcoin is, it's still risky to risk all of our money in Bitcoin. Moreover,
many rich people give advice to always invest in several assets, because if one asset loses, we can still generate profit from other assets. Especially
if all the assets we have go up, it opens up opportunities for us to become millionaires or billionaires. I am among those who have known Bitcoin
for a long time and have also managed to make big profits from Bitcoin several times. But I admit that it is very risky if we only invest in Bitcoin,
because Bitcoin does not continuously generate profits. Sometimes Bitcoin also experiences a decline, if that happens we must be able to have income
from other places, it's important to diversify our money across multiple assets.

Trust is there but the final decision would really be depending on a certain individual and we know that diversification is always been recommended and only invest
on what you could afford to lose on here in crypto because no matter how Bitcoin flying out with colors but there's no guarantee that it would lasts out forever on which
you do come into a point on where you do go all in without minding that particular risks on getting wrekt if the market would make out some sudden u-turn.
I dont blame out people on having that support but they should be mindful about probabilities.

Indeed, so far trust in Bitcoin is increasing, even many institutions are starting to dare to invest in Bitcoin in the long term. But that doesn't mean
Bitcoin will last forever, because someday there will be something better than Bitcoin. Because that's how technology develops, there will
always be technology that is much more sophisticated. So it's not wrong that we have very high trust in Bitcoin, but don't overdo it,
because anything in excess can have a bad effect. So think carefully about the risks that will occur if we risk everything for Bitcoin.
We really have to think about all the possibilities that will happen, including thinking about the worst risk that will happen to Bitcoin.

HUSTLER

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Bitcoin's trust comes from the fact that all the transactions are public and no one can change them or manipulate them, there for there is no room for fraud and injustice, which we normally would find in the current economic environment in our society, where transactions are controlled and manipulated by banks and governments where bribe fraud and corruption can be done freely and they go unnoticed, because no one has access to them, that is why we need bitcoin or the blockchain technology to be implemented into our real life transactions to bring back trust.

Chato1977

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Quote from: MIner1448 on December 25, 2021, 05:21:23 AM

First of all, bitcoin can be trusted due to its primacy in the market and a long history of its existence, because it is one of the first on the market and has never deviated from its concept of creation and its anonymity, there is no such thing on the market as bitcoin.

not to mentioned how fast the transactions is and how the support of the community stays for many years now.

Never hesitate in investing in this rank number one currency and the most valuable one.

Quote from: Molinology on December 30, 2021, 02:11:10 AM

Bitcoin is the oldest crypto as it was the first crypto to be ever introduced. Due to this reason people trust it the most. There are a lot of cryptos in the market and new cryptos are introduced every now and then. But only a few of them could be trusted which have strong fundamentals. Bitcoin has a never ending trust in this case and will continue to be the favourite crypto.

of course why would you invest in not safe investment when you can put your money in a currency that you know will continue to grow each year.

riso2015

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why bitcoin is at a high level of trust, maybe everyone will answer that bitcoin is safe and reliable, I myself have felt the comfort provided by bitcoin, as long as I entered the world of bitcoin I was not harmed by bitcoin, even I got a very valuable and beneficial experience what's amazing, if only I didn't want to learn and enter bitcoin, most likely until now I'm still working and being someone else's coolie, I'm very grateful to my friend who wants to guide me to learn bitcoin, the results are satisfying, even though so far I'm not rich , but at least my life has started to improve, thanks bitcoin..

Molinology

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Bitcoin is the oldest crypto as it was the first crypto to be ever introduced. Due to this reason people trust it the most. There are a lot of cryptos in the market and new cryptos are introduced every now and then. But only a few of them could be trusted which have strong fundamentals. Bitcoin has a never ending trust in this case and will continue to be the favourite crypto.

Newlifebtc

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Quote from: NeverSop on August 05, 2021, 05:59:39 AM

I think Bitcoin has safety, the highest level of security. Censorship resistant and unbreakable. Another way, bitcoin cannot be influenced by anyone, completely decentralized. All proven from history, features over time
Everything else may disappear completely one day. But bitcoin is not.

Bitcoin can also disappear one day, do you believe that bitcoin is trustworthy and will last for century, I'm seeing Bitcoin like currency that will breakdown on the way because it unsuitable is making me to fear and not to believe Bitcoin again, if you talk about influence Bitcoin is taking many influence

24Kt

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Quote from: jostorres on December 24, 2021, 04:39:36 PM

Quote from: BuNga_cute on December 24, 2021, 04:30:24 PM

Bitcoin has proven to be able to provide many benefits to many people. Bitcoin has even created a lot of new rich people in a pandemic situation, this makes Bitcoin more popular and gain the trust of many people.

Still, I do see veterans are not recommending to go all-in into bitcoin investments as bitcoin is an experimental project hence investing only affordable is highly recommended. I agree that bitcoin has proved its potential so far in more than 11 years of time but anything could happen in future hence we should not risk our life with only one investment opportunity which could be bitcoin or anything else.

Bitcoin really got the highest level of trust but that does not mean we can invest all our money into it. Even Bitcoin is highly reliable one, we should diversify our investments along with other investment opportunities like stocks and gold to balance our life at any unexpected events.

We don't know what the future will bring to us, this is why, you always need to have contingencies and not go all in. What if in the future there will be new technology that will be deployed and bitcoin will become obsolete? Who knows, right? So if you want to take care of your investments, don't forget that you are holding some stash and be updated with the market. So if anything big is about to happen, you are well-prepared. And right now, bitcoin is still the leading cryptocurrency among thousands of these alts. And I believe, it will stay this way for the succeeding years to come.

milewilda

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Quote from: BuNga_cute on December 27, 2021, 06:04:06 PM

Quote from: jostorres on December 24, 2021, 04:39:36 PM

Quote from: BuNga_cute on December 24, 2021, 04:30:24 PM

Bitcoin has proven to be able to provide many benefits to many people. Bitcoin has even created a lot of new rich people in a pandemic situation, this makes Bitcoin more popular and gain the trust of many people.

Still, I do see veterans are not recommending to go all-in into bitcoin investments as bitcoin is an experimental project hence investing only affordable is highly recommended. I agree that bitcoin has proved its potential so far in more than 11 years of time but anything could happen in future hence we should not risk our life with only one investment opportunity which could be bitcoin or anything else.

Bitcoin really got the highest level of trust but that does not mean we can invest all our money into it. Even Bitcoin is highly reliable one, we should diversify our investments along with other investment opportunities like stocks and gold to balance our life at any unexpected events.

What you say is true and makes a lot of sense, because no matter how good Bitcoin is, it's still risky to risk all of our money in Bitcoin. Moreover,
many rich people give advice to always invest in several assets, because if one asset loses, we can still generate profit from other assets. Especially
if all the assets we have go up, it opens up opportunities for us to become millionaires or billionaires. I am among those who have known Bitcoin
for a long time and have also managed to make big profits from Bitcoin several times. But I admit that it is very risky if we only invest in Bitcoin,
because Bitcoin does not continuously generate profits. Sometimes Bitcoin also experiences a decline, if that happens we must be able to have income
from other places, it's important to diversify our money across multiple assets.

Trust is there but the final decision would really be depending on a certain individual and we know that diversification is always been recommended and only invest
on what you could afford to lose on here in crypto because no matter how Bitcoin flying out with colors but there's no guarantee that it would lasts out forever on which
you do come into a point on where you do go all in without minding that particular risks on getting wrekt if the market would make out some sudden u-turn.
I dont blame out people on having that support but they should be mindful about probabilities.

BuNga_cute

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Quote from: jostorres on December 24, 2021, 04:39:36 PM

Quote from: BuNga_cute on December 24, 2021, 04:30:24 PM

Bitcoin has proven to be able to provide many benefits to many people. Bitcoin has even created a lot of new rich people in a pandemic situation, this makes Bitcoin more popular and gain the trust of many people.

Still, I do see veterans are not recommending to go all-in into bitcoin investments as bitcoin is an experimental project hence investing only affordable is highly recommended. I agree that bitcoin has proved its potential so far in more than 11 years of time but anything could happen in future hence we should not risk our life with only one investment opportunity which could be bitcoin or anything else.

Bitcoin really got the highest level of trust but that does not mean we can invest all our money into it. Even Bitcoin is highly reliable one, we should diversify our investments along with other investment opportunities like stocks and gold to balance our life at any unexpected events.

What you say is true and makes a lot of sense, because no matter how good Bitcoin is, it's still risky to risk all of our money in Bitcoin. Moreover,
many rich people give advice to always invest in several assets, because if one asset loses, we can still generate profit from other assets. Especially
if all the assets we have go up, it opens up opportunities for us to become millionaires or billionaires. I am among those who have known Bitcoin
for a long time and have also managed to make big profits from Bitcoin several times. But I admit that it is very risky if we only invest in Bitcoin,
because Bitcoin does not continuously generate profits. Sometimes Bitcoin also experiences a decline, if that happens we must be able to have income
from other places, it's important to diversify our money across multiple assets.

Gyfts

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Quote from: RainbowKun on August 05, 2021, 05:04:22 AM

In banks' ledger server, our money is just a string of number. Banks render these number effective. We trust banks then we carry out normal economic activities. But thought banks will not directly tamper with the number in our account, the government can depreciate the value of our wealth by issuing paper money in a large amount to deprive our money.
When it comes to Bitcoin, no intermediary is needed in money transferring. A distributed system built trust with the help of decentralization. Bitcoin protocol allows two separate individuals to conduct transactions in a peer-to-peer manner via the Internet. When you transfer Bitcoin from one account to another, you can trust not only its underlying system for support, but also the authenticity of the sender and the validity of Bitcoin.

This is a great point, and I like to explain to people using the logic you have above, when they minimize Bitcoin as worthless. The bitcoin private key that defines someone's balance is essentially a random string of numbers that is recognized by a network, in which you can transfer ownership of digitalized currency with other owners of the same type of randomized string. Banks utilize the same concept, except they attach personal information to each of the strings, and the central authority (whatever it is, government, the private bank itself, etc.) are able to modify any of the balances at their whim.

What security do you have the bank will honor their end of the deal, and maintain the balance they claim they hold for you? Banks require that you trust them, bitcoin requires that you trust yourself. And who do you trust more?

MIner1448

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First of all, bitcoin can be trusted due to its primacy in the market and a long history of its existence, because it is one of the first on the market and has never deviated from its concept of creation and its anonymity, there is no such thing on the market as bitcoin.

leea-1334

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Quote from: Minor Miner on December 24, 2021, 10:31:29 AM

Quote from: leea-1334 on December 24, 2021, 09:43:15 AM

I think we can all discuss all the fundamental reasons of security and decentralization etc etc but the proof is in the history of Bitcoin.

Right, history is really invincible. Only one thing is saddening that we lost "Satoshi"; we got him by our side in Bitcoin misfortune and helped in developing but today we do not find him in the golden days of Bitcoin. Without this thing, the whole history is really invincible.

I do not think it is sad at all. Look at the big networks who their founders saw the success of Bitcoin and tried to step down to do the same,,, they could not (think of Litecoin for example with Charlie Lee who stepped down but it was too late).

I think Satoshi leaving the way he did was the best thing for Bitcoin, and Bitcoin users will never see this golden age if he did not leave.

Quote from: Minor Miner on December 24, 2021, 10:31:29 AM

I don't know about newbie, but institute and government who has the power and has the ability to invest bulk money, their first preference is Bitcoin. Cause with the profit they also care about the security of their investment, and only Bitcoin is the real secured world.

Same as states,,, we think they are smart and powerful but at the end of most days the decision lies in the hands of one or two people who know as much as us. How many countries invest in Bitcoin truly understanding it or even using it we can never really know.

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Quote from: BuNga_cute on December 24, 2021, 04:30:24 PM

Bitcoin has proven to be able to provide many benefits to many people. Bitcoin has even created a lot of new rich people in a pandemic situation, this makes Bitcoin more popular and gain the trust of many people.

Still, I do see veterans are not recommending to go all-in into bitcoin investments as bitcoin is an experimental project hence investing only affordable is highly recommended. I agree that bitcoin has proved its potential so far in more than 11 years of time but anything could happen in future hence we should not risk our life with only one investment opportunity which could be bitcoin or anything else.

Bitcoin really got the highest level of trust but that does not mean we can invest all our money into it. Even Bitcoin is highly reliable one, we should diversify our investments along with other investment opportunities like stocks and gold to balance our life at any unexpected events.

BuNga_cute

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Quote from: barabarian1 on December 23, 2021, 06:34:35 PM

sometime, people said that bitcoin is trusted, and the other will say that is scam because of their bad experience.
people who already know, will trust and many of them store their money (after get paid) to this world. trust emerges because something happen, and maybe twice or more. and trustful come from after making profit.
at first time, im just trying to get in as deep, although its not deep as now, after few year, i know that i have to swim more and more. trust level increase as time goes by.

Usually people who are new to Bitcoin are unlikely to have trust in Bitcoin, moreover Bitcoin uses a new technology that not many people know about.
And also a lot of incidents of fraud on the internet, then it makes people who know Bitcoin for the first time usually don't immediately trust Bitcoin.
Our level of trust will be high in Bitcoin, if we have learned all about Bitcoin and managed to benefit from Bitcoin. Or we can get recommendations
from our family, usually we can more easily believe in something new for us. So why more and more people have high trust in Bitcoin, that's
because Bitcoin has proven to be able to provide many benefits to many people. Bitcoin has even created a lot of new rich people in a pandemic
situation, this makes Bitcoin more popular and gain the trust of many people.

touseefahmad1999

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Hi ! Bitcoin is very reliable for trading without any risk there is no chance to loose money because it has instantly and recovery money fast. It's fundamentally very strong coins best thing is decentralized coin . So you can choose this for long term or intratrading day . Even that you must save your private key otherwise you would loose important money . Bitcoin security is too much higher level nobody can crack of Bitcoin

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Quote from: yayayo on December 24, 2021, 10:00:53 AM

Quote from: leea-1334 on December 24, 2021, 09:43:15 AM

I think we can all discuss all the fundamental reasons of security and decentralization etc etc but the proof is in the history of Bitcoin.

Never been successfully hacked,,, Never refused or given back,,, And if I wanted today to spend or sell my BTC I could do that much easier than any other altcoin.

This for me is reason enough for any newbie to choose BTC over anything else. Trust is something not rational correct? Cheesy

I agree. Bitcoin being the ever first cryptocurrency has also a lot of factor to play why it has the highest level of trust. Then, a mentioned, its security and value are what makes it more desirable for the many even those who just spectators and starting in the crypto world.

ya.ya.yo!

bitcoin has entered a high level of security so the security level does not need to be worried anymore, we just have to be careful to keep the wallet key address so that it is not easily hacked by hackers. in addition to strong security, I think bitcoin is an asset with a very fast recovery rate so the risk of loss can be minimized.

Minor Miner

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Quote from: leea-1334 on December 24, 2021, 09:43:15 AM

I think we can all discuss all the fundamental reasons of security and decentralization etc etc but the proof is in the history of Bitcoin.

Right, history is really invincible. Only one thing is saddening that we lost "Satoshi"; we got him by our side in Bitcoin misfortune and helped in developing but today we do not find him in the golden days of Bitcoin. Without this thing, the whole history is really invincible.

Quote from: leea-1334 on December 24, 2021, 09:43:15 AM

Never been successfully hacked,,, Never refused or given back,,, And if I wanted today to spend or sell my BTC I could do that much easier than any other altcoin.

Even no one has ever been able to crack Bitcoin's private key partially. Although some developers claim to extract private keys using public keys, they have never been able to do that.
some people are very shouting about 51% attack but I just hear this mystery all over the year, never seen practically.

Quote from: leea-1334 on December 24, 2021, 09:43:15 AM

This for me is reason enough for any newbie to choose BTC over anything else. Trust is something not rational correct? Cheesy

I don't know about newbie, but institute and government who has the power and has the ability to invest bulk money, their first preference is Bitcoin. Cause with the profit they also care about the security of their investment, and only Bitcoin is the real secured world.

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