Topic: Why is Bitcoin in the highest level of trust? - page 5. (Read 1938 times)
Data consistency and transperancy has been one of the key reasons many built a high level of trust for bitcoin. I came to discover bitcoin wasn't really the first digital currency project before bitcoin came into Lim light we had other digital currency projects that failed the likes of Digicash, BitGold , B-money which were first attempted in the early 1990s people developed trust for bitcoin after it survived several market conditions.
I completely agreed with you.
There are many factors why bitcoin is trusted.
The reason why Bitcoin was trusted by many parties is that it was the only cryptocurrency that was truly decentralized.yes among them bitcoin has established itself as the most high-end crypto today and bitcoin is currently the most accepted by many parties around the world.
This happens due to the major concept of Bitcoin and everybody wants the liberation potential of Bitcoin.also in terms of security bitcoin has high protection.
Despite that human error still need to be avoided.
Actually there are many unsolved problem within bitcoin such as Byzantine fault. In fact, there is no 100% trust system as long as it is built by human. It can always be interrupted and fabricated. Even machine or A.I can have such problems if creators decide to feed it few "bugs"
I simply think trust is what people believe in. If you trust your clients, transactions will smoothly be proceeded, no matter what materials you use
I simply think trust is what people believe in. If you trust your clients, transactions will smoothly be proceeded, no matter what materials you use
There are many factors why bitcoin is trusted. yes among them bitcoin has established itself as the most high-end crypto today and bitcoin is currently the most accepted by many parties around the world. also in terms of security bitcoin has high protection. and most importantly, bitcoin is the most worthy of being an investment asset
It seems to me you are confusing the cause and effect. Bitcoin definitely has a plethora of useful characteristics that make it a desirable asset for investments. But the fact that investors have been long interested in bitcoin doesn't render it trusted by itself. Why do people think they can trust software and protocol such as bitcoin? They actually shouldn't. What they should do is learn what bitcoin offers, under what rules and laws it is operating. While they can't change these rules, they can decide whether they agree with them or not. Once they decided positively, they can join the network absolutely freely and run a piece of software to make sure that the principles they previously agreed with are being followed by everyone else in the network. They don't trust other participants, they instead constantly verify everyone abides by the rules of the network. Conclusively, bitcoin is trusted because no one is able to unilaterally change its principles. That is why it is chosen as legal tender in some countries, that is why it is being adopted, that is why it is an asset to invest. 
There are many factors why bitcoin is trusted. yes among them bitcoin has established itself as the most high-end crypto today and bitcoin is currently the most accepted by many parties around the world. also in terms of security bitcoin has high protection. and most importantly, bitcoin is the most worthy of being an investment asset
I believe bitcoin is sweet as a currency and therefore the journey during this currency from the very beginning may be a great distance off bitcoin isn't almost changing people's lives, it's about investing within the right way able to solve all problems. there's no fear of losing this currency from the crypto market and it not attend destruction if there's a small difference in price it go up again in time bitcoin ranks highest among all currencies.
I trust Bitcoin for the same reason I trust math. I understand it.
Some people trust Bitcoin because other smarter people trust it. If Bitcoin was flawed, some smart guy out there would have found the flaw and let everyone know.
Some people trust Bitcoin because other smarter people trust it. If Bitcoin was flawed, some smart guy out there would have found the flaw and let everyone know.
The Pow algorithm is a brute force cracking algorithm. At the beginning of the design, Satoshi Nakamoto only pointed out the feasibility of this algorithm in theory, but this was perfectly implemented by the community gods.
The main purpose of bitcoin is to provide a decentralized form of anonymous transaction value, to eliminate the intermediaries of banks and financial institutions and thereby reduce the cost of money transactions and that is one of them.
and other beliefs because investing in bitcoin is very promising and also guaranteed security and we are in full control, because bitcoin the first and most popular digital currency among other cryptocurrencies makes everyone believe and is clear evidence that many people who have benefited can actually make them rich and many again Another positive reason that makes bitcoin trusted.
and other beliefs because investing in bitcoin is very promising and also guaranteed security and we are in full control, because bitcoin the first and most popular digital currency among other cryptocurrencies makes everyone believe and is clear evidence that many people who have benefited can actually make them rich and many again Another positive reason that makes bitcoin trusted.
Bitcoin has been service in long time.Bitcoin already proved that Bitcoin is trusted than any others crypto. Bitcoin is most valuable crypto in market and most valuable coin.Bitcoin has been developing for long time.Bitcoin is decentralised crypto than others. I think bitcoin will be more increase in future and it will be most trusted.
Bitcoin is currently the strongest coin with a marketcap of more than $950 billion, but there are many opinions that coins like Ripple, Ethereum or Cardano have advantages over bitcoin, I hope there is a coin that can compete with bitcoin so that the competition for cryptocurrencies becomes more attractive.
Bitcoin has been service in long time.Bitcoin already proved that Bitcoin is trusted than any others crypto. Bitcoin is most valuable crypto in market and most valuable coin.Bitcoin has been developing for long time.Bitcoin is decentralised crypto than others. I think bitcoin will be more increase in future and it will be most trusted.
The important factor is that bitcoin is truly 100% decentralized and this makes it the best crypto currency on which everyone can trust. All other altcoins are centralized in the nature that the owner of those coins hold a large amount of tokens but this is not the case with bitcoins.
It's true Bitcoin is decentralized but that can't be said for every future coin, There's a possibility government starts using cryptocurrency and releases a fixed supply of new crypto.
And people of that particular country or state are supposed to use that. Then it will be easy for the government to trace the registered owners of a wallet that send that particular crypto to an illegal address.
I also think the government is probably going to promote a cashless society anyways because we're moving towards a 1 world government and it will be easy for them to trace the transactions.
Bitcoin has highest level of trust to investors and supporters because it's the mother of all cryptocurrencies wherein has already cement the foundation for how many now and it proved that it can survive the market dip and FUD from people hating it. Many famous people already jumped on bitcoin and by that alone it added more trust of bitcoin hence it's the future of payment system.
Bitcoin is very popular because it became the first crypto, bitcoin continues to have support from many companies and now we can see bitcoin on many stock exchanges and futures of the world, I believe bitcoin will be more and more popular and become the standard of payment accepted by the world like gold.
but bitcoin transactions and technological developments are trusted by most people. and even the community and support of many people is now increasing. this is indeed a good start for bitcoin towards the expected goal.
Bitcoin has highest level of trust to investors and supporters because it's the mother of all cryptocurrencies wherein has already cement the foundation for how many now and it proved that it can survive the market dip and FUD from people hating it. Many famous people already jumped on bitcoin and by that alone it added more trust of bitcoin hence it's the future of payment system.
Bitcoin is very popular because it became the first crypto, bitcoin continues to have support from many companies and now we can see bitcoin on many stock exchanges and futures of the world, I believe bitcoin will be more and more popular and become the standard of payment accepted by the world like gold.
Bitcoin has been service in long time.Bitcoin already proved that Bitcoin is trusted than any others crypto. Bitcoin is most valuable crypto in market and most valuable coin.Bitcoin has been developing for long time.Bitcoin is decentralised crypto than others. I think bitcoin will be more increase in future and it will be most trusted.
Some really good points, I will make some points why BTC is superior to any other cryptocurrency1- First in the market; BTC was the first cryptocurrency and there is nothing that can change it.
2- Anonymous; every crypto has its founders known in public but no one has a clue who Satoshi was
3- BTC is more valuable than other cryptos; Each halving the miner's reward is decreased to half which means more scarcity in future
There can be 100s of other reasons but these 3 reasons are most important ones that make BTC superior to other coins.
Bitcoin has highest level of trust to investors and supporters because it's the mother of all cryptocurrencies wherein has already cement the foundation for how many now and it proved that it can survive the market dip and FUD from people hating it. Many famous people already jumped on bitcoin and by that alone it added more trust of bitcoin hence it's the future of payment system.
Bitcoin serving in the very beginning of cryptocurrency journey. Bitcoin is the most potential and good coin. You can see its price increase from where. This can prove that Bitcoin will serve life time and this will never destroy. Because i think that if Bitcoin destroy then every crypto currency face heavy trouble and can be destroyed. Because of potential coin Bitcoin is in the highest level. Also this is the most trusted coin in cryptocurrency.
In the current world built by centralized system, the authenticity and validity of wealth transferring is protected by a third party as an intermediary. Who is a completely credible middleman? That role is mostly played by banks and all sorts of payment agencies, credit card companies, etc. We trust them and their services ensure the normal conduct of economic behavior. However, once one of the banks goes bankrupt, all of our assets there may disappear.
This is a very valid point and why Bitcoin and decentralized assets are more valuable than cash in the bank. If the bank for any reason goes bankrupt as you said, your money is gone and you may get it back but chances are slim.One may argue that even Bitcoins can be misplaced and lost but at least you have the control and responsibility for the mistake in that case. It's not easy to pay for other's mistakes but much easier to calm yourself when it's you who made the mistake of losing your coins. People who lose money to scams are more frustrated than traders who lose money.
Bitcoin has been service in long time.Bitcoin already proved that Bitcoin is trusted than any others crypto. Bitcoin is most valuable crypto in market and most valuable coin.Bitcoin has been developing for long time.Bitcoin is decentralised crypto than others. I think bitcoin will be more increase in future and it will be most trusted.
With all the positive traits given to bitcoin, no wonder it has gained a big trust not just to the people themselves but also to the big companies who are now integrating bitcoin into their transactions. So its definitely a worlwide adoption that is starting to take place and maybe when all these companies will benefit from bitcoin, the news will again spread out and creates more positivity on the side of bitcoin.In my personal view, bitcoin should have the highest level of trust because its fully decentralized. No one can control it not even the government so our money will be safe unlike when kept in banks which might be totally controlled by the banks personnel and sometimes, even inside jobs are also happening. And the fact that bitcoin has already built a strong foundation, so no one can ever destroy it. The more people will recognize bitcoin, the usage will also increase. Thus, making bitcoin bringing its best to serve the people in a more advanced and digital way.
investing in good coins will certainly be profitable for investors, so they choose coins that are really good, especially if the capital is large. why bitcoin has the highest price because bitcoin is the first coin to emerge and become a crypto pioneer. everywhere if something appeared first then it would be more valuable than something that came after. besides that, when viewed from the beginning of the emergence of bitcoin to date, the movement of bitcoin is also good even though there are periods of ups and downs but the price is far higher than other coins because the demand for it is also high. therefore investing in bitcoin is a dream for investors.
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