Topic: Why we trust in cryptocurrencies? (or not?) (Read 1151 times)

WE should!

In toadys world you basically own nothing - even if you have bought a house.

- If you dont pay house tax your house will be sold by the state.
- If you dont pay your taxes on your car, it will also be sold by the state.

They can't take your crypto unless you give them your keys  

I know alot of things are happening in the crypto space which made lots of people to ask same questions you asked 4years ago, same question still keep on repeating it's self because of the things which are happening. The Luna crash as one of the major problem why most people are Lossing interest and trust from crypto. To me I still believe on crypto currency rather than my local currency Naira, lost of my funds are saved across crypto wallets BUSD, Matic and Eth, I truth them (crypto currency) more than I trust my local currency # (Naira) because lots of this coins are backed up with reserved and have limited supply which when the demand increases the price pump up, when it comes to the BUSD  which is equal to the united state dollars, I like holding it because the demand of it in my country is increasing and as such I made gain every day. Do you know the funniest part instead of the country to look for a way to increase the value of the currency, they keep on printing more Naira note to enable them meet up their budget which are never meet, no effected monitory policy to control the way money are being printed.


But the crypto like btc which have limited supply of 21,000 and can not increase more than that, matic 10 billion, and busd 17.98 Billion.
And so far my policy of holding my crypto currency have helped me alot more than puting my trust somewhere else.

I think Many people not agree with this After 😭😭 Terra luna Collapse. Only Bitcoin Not controlled by any person or State.

Do you really think that you gave any valid reason here?

Crypto is mostly trusted by people around the world - it is the fastest and easiest way to be rich in limited time
Also the point you have added is very valid that the companies and individuals are very serious about investment in block chain because of the potential.

The world is evolving and many individuals and companies are beginning to maximize blockchain technology because of the potential it holds. Though, it has it's setbacks, but cryptocurrency and blockchain technology is the future and the future is now and we must embrace it.

I guess the Major reason is that you're in control of your money ( your are your own bank) . other reasons why people trust cryptocurrency are because of its transparency, i.e any information you need about a particular coin is put out there, both in transaction, circulation , supply, number of holders, volume , some coins are deflationary, fast in transaction, traceable and a lot more to talk about, than when compared to fiat moneytory system.

When you decide to trust crypto or not things will keep moving. Since the crypto market is decentralized where no government will impose law to control it activities, more people tend to adopt it because they have been looking for this kind of freedom for long now. The crypto world is difficult to be hijacked by government.

As for me, I trust in cryptocurrency so much basically because it has helped me in so many ways than the government system ever will. Decentralisation has proven to be the best key with its transparency and self governance to your money owned.

Fiat is worth because the people give it worth. The US-dollar is a good example: in the past it was backed with gold, which gave the dollar the worth it had. At the year 1971 it was dissolved from President Richard Nixon. Now we only believe in the worth it had.
In crypto we have an active market, where it gains its worth from supply and demand. The decentralized topic is a plus to that.
In every country we have different rules for crypto and we saw countries ban crypto. But it will never happen that the whole world agrees on to ban crypto. There will be always a country which says: Hey they ban crypto, but we don’t, so come to us then.

The decentralized platform that made bitcoin to be strong is what actually keep bitcoin trust worthy, by now people won't have believe strongly in cryptocurrency, it is not fiat currency that have low security level, politicians queue up in cryptocurrency because of the security level

Money is basically controlled by the government, every time that passes always creates currency. Inflation always occurs, although not too severe. However, from year to year, we will feel that with the same nominal value, the next 10 years the value will decrease for us to spend. I still believe in crypto because it is still running independently. And this has always been the potential to replace fiat, and if this happens then it is directly controlled by the government.

We trust in cryptocurrency cause of blockchain technology. It is a system that cannot be changed, edited, removed, or deleted. blockchain chain technology. There is no middleman who can control it. It is a trustless, decentralized system. It was introduced in 1990. But work and research on this technology continued for nearly 20 years. In 1909 Satoshi Nakamoto apply this to Bitcoin. Bitcoin proved a very successful cryptosystem. Million people around the world join it and they are still working on this system and its number of users are increasing day by day.

We are definitely entering into a new era of history. Statecraft as we knew it is gone forever. Every couple of centuries, life changes completely. If those of us who are alive today live to see the revolution completed, we would probably be dumbbfounded by the changes which are about to take place.

Its up to us if how much we trust or just merely hope for a good result in investing crypto... I would say its always a risk ... 1st of all price is always volatile..ita exchange or market is manipulated...theres always hacks has been lost ...Fact is cryptocurrency, in its current form, meets most every condition of a speculative asset..

The right thing to do is trust yourself of course before anything else. I am also a student, we can simply say that we are not knowledgeable enough to understand everything here in crypto so just learn more about it first and decide if it is worth to trust or not.

the reason for the trust in crypto currency is because of the decentralized nature of crypto. Technical decisions are not left to some selected few, with prior notice of the community. There is complete transparency in crypto currency.

the reason people trust in the blockchain system is because of it's decentralized nature. It cannot be manipulated by a selected few to suit their personal interest without the notice of the system in general, that's what decentralization means.

cryptocurrency will gain more trust because of it's decentralized nature, and the fact that crypto currency is not affected by the activities of inflation or deflation. Unlike your fiat currency in your bank account, cryptocurrency is an investment that yield interest more than any bank will ever give.

The main reason I trust cryptocurrency comes from the blockchain. I think coins and blockchains are inseparable. I believe in the development of blockchains, so I believe in the future of coins!