Why is Bitcoin in the highest level of trust? - page 8.

RainbowKun

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Quote from: rosebrand on August 12, 2021, 06:20:35 PM

Quote from: NeverSop on August 05, 2021, 04:59:39 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.

I totally agree wit h you, in the past bitcoin has proved it's system to being safe and secured, there have never been any case of hack, and also bitcoin has proven it's self to be a successful form of investment in the long run, if we look at what price has done in the long run then we can truly see it's truly as successful form of investment, and also bitcoin is the oldest among all and the mother of all crypto, so this is more reason why bitcoin got the high level of trust.

Yes, Bitcoin is now gaining more and more trust. In the past 12 years, no single force can tamper with the data of the Bitcoin network. No one can crack the private key of Bitcoin, and no one can control the Bitcoin network. Humans’ trust in Bitcoin is getting stronger and stronger, so they are willing to store their wealth in the Bitcoin network.

rosebrand

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Quote from: NeverSop on August 05, 2021, 04:59:39 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.

I totally agree wit h you, in the past bitcoin has proved it's system to being safe and secured, there have never been any case of hack, and also bitcoin has proven it's self to be a successful form of investment in the long run, if we look at what price has done in the long run then we can truly see it's truly as successful form of investment, and also bitcoin is the oldest among all and the mother of all crypto, so this is more reason why bitcoin got the high level of trust.

TelolettOm

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Actually, I only think about the value of Bitcoin that mostly will be increasing (although sometimes it is also dropping but at last it will recover and back to rise again.
Bitcoin is also the first crypto.
When many more people take Bitcoin as an investment asset, many more people trust in Bitcoin. And because of its popularity, many more other people will know about Bitcoin at first and then it will be spreading more and more to people.

worldofcoins

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Quote from: qwertyup23 on August 09, 2021, 12:15:56 PM

So imagine, every transaction is posted on a public ledger where the contents cannot be changed since it is being monitored by almost all people who transact using BTC. The reason on why the blockchain technology has the highest level of trust is due to the miners which constantly check every block to validate all the possible contents of such block. So if you attempt to change the contents of one block, another miner would be able to see it and it would verify it accordingly to the genesis block.

That is the reason on why it requires so much power whenever you mine BTCs as it computes and verifies all the block on the blockchain technology.

Exactly and once a transaction has been confirmed a few times on the blockchain then changing or reverting the transaction isn't gonna be possible useless you own 51% of the network, I'm not saying that's not possible but it's rare to happen especially now. In the times of 2009-2011, it would've been much easier for big companies but there wouldn't be any use because bitcoin was not as much popular at that time.

But now there are a massive amount of miners and it's quite hard to pull of 51% attack through their resources.

hitsnorth

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BTC is pretty safe and reliable indeed. And it's most well-known crypto even within people who doesn't know anything about crypto. Altcoins seems too strange and not trust-worthy and it's true for the most of them.

ultrloa

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Quote from: Gbniman on August 12, 2021, 08:31:29 AM

To my own view Bitcoin is a standard and Biggest gains scale
The cryptocurrency Bitcoin has value because it holds up very well when it comes to these six characteristics, although its biggest issue is its status as a unit of exchange because most businesses have yet to accept it as payment.

Well for now they are avoiding or forget about the discussion upon acceptance of bitcoin and other alts since there are so many thing chase out to be more better in terms of using the cryptocurrency. maybe banks or business are settle for their left over meals.

Maybe in future once covid will be left out to the system ,once they get fit we can earn more money from it in future.

Gbniman

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To my own view Bitcoin is a standard and Biggest gains scale
The cryptocurrency Bitcoin has value because it holds up very well when it comes to these six characteristics, although its biggest issue is its status as a unit of exchange because most businesses have yet to accept it as payment.

isaac_clarke22

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Quote from: mk4 on August 05, 2021, 05:01:03 AM

~

That is the only drawback actually. Every code is still open for another well-written one. From the whole years that Bitcoin ran, it does not seem to be that the code will be a problem now these days.
It is that some countries are prohibiting their people to use it.

Shasha80

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Quote from: Mahanton on August 11, 2021, 05:52:28 PM

Quote from: Shasha80 on August 11, 2021, 05:38:42 PM

Quote from: Kelvinid on August 11, 2021, 03:56:13 AM

Quote from: Shasha80 on August 11, 2021, 03:01:53 AM

It is indeed internet users who are starting to trust Bitcoin, because Bitcoin can be used if there is internet access. Bitcoin is getting more and more
popular after some people who own Bitcoin get profit from Bitcoin. And the peak after big companies and rich people decided to invest in Bitcoin
made the price of Bitcoin more expensive. Finally made many people see Bitcoin as a promising asset, and thanks to promotions by influencers,
Bitcoin is finally getting to be known to many people. That's what finally until now makes Bitcoin's level of trust even higher.

Some did the profit and also many had suffered losses because of their actions. People had come and invested in crypto not only they are in considering the trust level but obviously, they just come for money and a sort of curiosity. And you know what? The majority of these investors will be in a panic once the market showing a decline and they just often sell. This will have to tell us that these people aren't giving such trust in Bitcoin but still in doubt.

In the end it depends on the purpose of investors investing in Bitcoin, if they only focus on making money, what you say is true. Which some investors
do doubt Bitcoin, because investors who have a high level of trust in Bitcoin, it is impossible to panic sell when the Bitcoin price falls. Why do I always
say experience and knowledge do play an important role, because it is proven that investors with good experience and knowledge about the crypto
world will have a much higher level of trust in Bitcoin.

We all share on the same goal which is to make profits even though we do highly support bitcoin into its actual utility but it cant really be avoided that people would really be minding about on how to make profits.
Trust is already gained since this is the king or father of all crypto which its understandable that it would really be getting that soo much trust and believers because we had been already in a decade.
Even if its been a bit outdated when it comes to features or functionalities but still people cant really just dump it all over and would be replaced by some altcoins in the market but hey,
we cant really assure since nothing do last forever.

With Bitcoin running for over a decade and Bitcoin has always been the best crypto. It is understandable why Bitcoin has earned such high trust
from the crypto community. Although many altcoins perform better than Bitcoin, but that doesn't change the fact that Bitcoin is still much more
trusted than altcoins. So there is no need to worry if the Bitcoin price falls, because with the high trust of investors, make Bitcoin often recover quickly.

Mahanton

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Quote from: Shasha80 on August 11, 2021, 05:38:42 PM

Quote from: Kelvinid on August 11, 2021, 03:56:13 AM

Quote from: Shasha80 on August 11, 2021, 03:01:53 AM

Quote from: mbe48 on August 11, 2021, 02:45:52 AM

I think only people who make money on the internet believe in bitcoin (Some People), the popularity level of Bitcoin increases when big investors enter the Crypto world so that ordinary people who don't know Blockchain also invest in Bitcoin. But I firmly believe that Bitcoin is a valuable asset besides fast transactions, its security is unquestionable and maybe in the future everyone will also feel the benefits of blockchain technology.

It is indeed internet users who are starting to trust Bitcoin, because Bitcoin can be used if there is internet access. Bitcoin is getting more and more
popular after some people who own Bitcoin get profit from Bitcoin. And the peak after big companies and rich people decided to invest in Bitcoin
made the price of Bitcoin more expensive. Finally made many people see Bitcoin as a promising asset, and thanks to promotions by influencers,
Bitcoin is finally getting to be known to many people. That's what finally until now makes Bitcoin's level of trust even higher.

Some did the profit and also many had suffered losses because of their actions. People had come and invested in crypto not only they are in considering the trust level but obviously, they just come for money and a sort of curiosity. And you know what? The majority of these investors will be in a panic once the market showing a decline and they just often sell. This will have to tell us that these people aren't giving such trust in Bitcoin but still in doubt.

In the end it depends on the purpose of investors investing in Bitcoin, if they only focus on making money, what you say is true. Which some investors
do doubt Bitcoin, because investors who have a high level of trust in Bitcoin, it is impossible to panic sell when the Bitcoin price falls. Why do I always
say experience and knowledge do play an important role, because it is proven that investors with good experience and knowledge about the crypto
world will have a much higher level of trust in Bitcoin.

We all share on the same goal which is to make profits even though we do highly support bitcoin into its actual utility but it cant really be avoided that people would really be minding about on how to make profits.
Trust is already gained since this is the king or father of all crypto which its understandable that it would really be getting that soo much trust and believers because we had been already in a decade.
Even if its been a bit outdated when it comes to features or functionalities but still people cant really just dump it all over and would be replaced by some altcoins in the market but hey,
we cant really assure since nothing do last forever.

sherenikaw

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Activity: 630

Merit: 10

rocket.hashbon.com

If we invest in coins, we definitely want profit and security, therefore we must choose a trusted coin. The better and more reliable the coin is in the market, the better the opportunity to invest and make a profit. That's why btc has become a trusted coin in the crypto world because apart from being the highest coin, btc's prospects are also the best. Therefore everyone wants btc and is competing to get it because they already know the benefits. But remember that investing in btc must be really careful and smart in analyzing the market so you don't get a loss.

Shasha80

sr. member

Activity: 1876

Merit: 318

Quote from: Kelvinid on August 11, 2021, 03:56:13 AM

Quote from: Shasha80 on August 11, 2021, 03:01:53 AM

Quote from: mbe48 on August 11, 2021, 02:45:52 AM

I think only people who make money on the internet believe in bitcoin (Some People), the popularity level of Bitcoin increases when big investors enter the Crypto world so that ordinary people who don't know Blockchain also invest in Bitcoin. But I firmly believe that Bitcoin is a valuable asset besides fast transactions, its security is unquestionable and maybe in the future everyone will also feel the benefits of blockchain technology.

It is indeed internet users who are starting to trust Bitcoin, because Bitcoin can be used if there is internet access. Bitcoin is getting more and more
popular after some people who own Bitcoin get profit from Bitcoin. And the peak after big companies and rich people decided to invest in Bitcoin
made the price of Bitcoin more expensive. Finally made many people see Bitcoin as a promising asset, and thanks to promotions by influencers,
Bitcoin is finally getting to be known to many people. That's what finally until now makes Bitcoin's level of trust even higher.

Some did the profit and also many had suffered losses because of their actions. People had come and invested in crypto not only they are in considering the trust level but obviously, they just come for money and a sort of curiosity. And you know what? The majority of these investors will be in a panic once the market showing a decline and they just often sell. This will have to tell us that these people aren't giving such trust in Bitcoin but still in doubt.

In the end it depends on the purpose of investors investing in Bitcoin, if they only focus on making money, what you say is true. Which some investors
do doubt Bitcoin, because investors who have a high level of trust in Bitcoin, it is impossible to panic sell when the Bitcoin price falls. Why do I always
say experience and knowledge do play an important role, because it is proven that investors with good experience and knowledge about the crypto
world will have a much higher level of trust in Bitcoin.

Mr.sprin

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I believe that after several countries legalized bitcoin, trust in bitcoin was even higher, especially now that bitcoin has proven itself to be very worthy of investment. yesterday China banned bitcoin but Chinese people buy bitcoin maybe it's China's strategy to lower the price of bitcoin and when the price of bitcoin goes down they buy it because they know Bitcoin can be saved for the future.

nightxglow

sr. member

Activity: 700

Merit: 251

I guess why bitcoin is in the highest level of trust because of the image that it has built for the past years. At first, not many people know about it, but bitcoin gradually become more and more valuable. From nothing to something. Maybe at first it's just some curiosity of people, wanting to get know into cryptocurrency world, but the one that has the most value, the one that everyone know is bitcoin. Most people might not know cryptocurrency, but they will know about bitcoin. It's the power of the popularity bitcoin hold, because it's so popular, because so many people know it and want it, thus people tend to trust it more than others.

Kelvinid

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win lambo...

Quote from: Shasha80 on August 11, 2021, 03:01:53 AM

Quote from: mbe48 on August 11, 2021, 02:45:52 AM

I think only people who make money on the internet believe in bitcoin (Some People), the popularity level of Bitcoin increases when big investors enter the Crypto world so that ordinary people who don't know Blockchain also invest in Bitcoin. But I firmly believe that Bitcoin is a valuable asset besides fast transactions, its security is unquestionable and maybe in the future everyone will also feel the benefits of blockchain technology.

It is indeed internet users who are starting to trust Bitcoin, because Bitcoin can be used if there is internet access. Bitcoin is getting more and more
popular after some people who own Bitcoin get profit from Bitcoin. And the peak after big companies and rich people decided to invest in Bitcoin
made the price of Bitcoin more expensive. Finally made many people see Bitcoin as a promising asset, and thanks to promotions by influencers,
Bitcoin is finally getting to be known to many people. That's what finally until now makes Bitcoin's level of trust even higher.

Some did the profit and also many had suffered losses because of their actions. People had come and invested in crypto not only they are in considering the trust level but obviously, they just come for money and a sort of curiosity. And you know what? The majority of these investors will be in a panic once the market showing a decline and they just often sell. This will have to tell us that these people aren't giving such trust in Bitcoin but still in doubt.

Shasha80

sr. member

Activity: 1876

Merit: 318

Quote from: mbe48 on August 11, 2021, 02:45:52 AM

I think only people who make money on the internet believe in bitcoin (Some People), the popularity level of Bitcoin increases when big investors enter the Crypto world so that ordinary people who don't know Blockchain also invest in Bitcoin. But I firmly believe that Bitcoin is a valuable asset besides fast transactions, its security is unquestionable and maybe in the future everyone will also feel the benefits of blockchain technology.

It is indeed internet users who are starting to trust Bitcoin, because Bitcoin can be used if there is internet access. Bitcoin is getting more and more
popular after some people who own Bitcoin get profit from Bitcoin. And the peak after big companies and rich people decided to invest in Bitcoin
made the price of Bitcoin more expensive. Finally made many people see Bitcoin as a promising asset, and thanks to promotions by influencers,
Bitcoin is finally getting to be known to many people. That's what finally until now makes Bitcoin's level of trust even higher.

mbe48

full member

Activity: 994

Merit: 105

I think only people who make money on the internet believe in bitcoin (Some People), the popularity level of Bitcoin increases when big investors enter the Crypto world so that ordinary people who don't know Blockchain also invest in Bitcoin. But I firmly believe that Bitcoin is a valuable asset besides fast transactions, its security is unquestionable and maybe in the future everyone will also feel the benefits of blockchain technology.

rodskee

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Quote from: Kiley33 on August 10, 2021, 09:36:43 PM

Bitcoin has experienced a decade of sharp rises and falls, as well as regulatory issues. But it is still booming.

Bitcoin is transparent, we don't believe in people, but we believe in code, and we can view the source code at any time. And Bitcoin has anonymity, which protects our privacy very well.

After each price change, there will be a new address, and a new batch of users will register to enter the market.

I admired all the details you mentioned about bitcoin qualities because those are really impressive and aspiring , but the last part is what i thin does not imply if we really wanted bitcoin to stay from generation to generation and this is it,

Quote

The important thing is to make money in Bitcoin.

because bitcoin is a currency and not an asset or something that we must consider profitable , instead we must learn the real venture why satoshi created this and that is to have alternative from FIAT.

Shenzou

sr. member

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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.

Kiley33

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Bitcoin has experienced a decade of sharp rises and falls, as well as regulatory issues. But it is still booming.

Bitcoin is transparent, we don't believe in people, but we believe in code, and we can view the source code at any time. And Bitcoin has anonymity, which protects our privacy very well.

After each price change, there will be a new address, and a new batch of users will register to enter the market.

The important thing is to make money in Bitcoin.

Topic: Why is Bitcoin in the highest level of trust? - page 8. (Read 1955 times)