Bitcoin Forum

Every time there's a problem with the debt-ceiling in the US since 2011 there has been talks about the possibility of minting a one trillion-dollar platinum coin (https://www.vox.com/22711346/trillion-dollar-coin-mintthecoin-debt-ceiling-beowulf) out of thin air.

Although the current US Treasury Secretary is opposed to this idea (https://www.reuters.com/world/us/yellen-says-debt-ceiling-hike-utterly-essential-opposes-platinum-coin-gimmick-2021-10-05/), there are people out there that are pushing to make this happen.

On the other hand, most people think that Bitcoin reaching one million dollars is ludicrous.

Combining these two ideas, I get the impression that most people still believe more in the USD than Bitcoin.

Although things might change in the future when Bitcoin reaches $100k at some point. That will probably be an important mental milestone for the average person.

Of course people trust more in usd than bitcoin, it has an expensive advertising campaign behind it :) like all other fiat does.

I could also imagine that walking up to most people and offering them $1m or 1k btc, how many are going to pick the btc (probably only a few)?

There are differences here though:
   The US economy is one of the highest performing economies now and minting the coin now or "soon" would probably not make a difference to that.
   Bitcoin acts as a global asset, is it tied to a specific economy yet?

No doubt. Traditional people are still out there and it will passed along with their kids.
My take, why wait for $100k to start believing. What's in that number that makes it more important than the lower amounts? It's better purchasing at a cheaper price. They will all just feel the same regret as most of us when they witness 6 digits.
I just don't get it. I am glad though that most of my friends believe Bitcoin first as an investment before any altcoin or even fiat.

they're are so many old farts that have spent their day in government / politics . I cannot wait for the next generation to move into government. These old politicians are too old and stuck in the system to change the system. And once people start to understand that bitcoin is inevitable, and to accept it with both arms instead of fighting it, the world will become a better place. And I would imagine it would happen pretty fast too ... relatively speaking .


I guess everybody will have to get orange pilled sooner or later... Im just glad it happened to me already

People have already used USD from a long time ago for many things and still prefer to use USD rather than knowing a new thing such as Bitcoin that can be a new way to make money.
They still underestimate the power of bitcoin until they realize it by themselves, which is too late to join or involve in bitcoin.
Besides that, people prefer something that they can see, touch, and have a form that they can know so they still do not think to trust Bitcoin besides USD.
Once Bitcoin prices start moving and hit the high price, they will regret it.

It circulated in social media about that 1 trillion-dollar platinum coin. But I'm not sure how it's going to change something, it's still printing 1T. It's not going to circulate but it's printed.

USD government-backed and its the world reserve currency, people will use it even in other countries. Although its value is currently declining because of inflation, it's still used. It may take years for things to change. When every store is going to accept BTC, it's going to change.

Can’t really blame them despite them being really wrong in my opinion. If you’ve grown up to use the USD since you were old enough to slightly understand the concept of money on a surface level, then you’ve simply grown up to trust it.

I think it somewhat would be the same with Bitcoin. Though Bitcoin is already 10+ years old, most people have only heard of it for like 1-3 years. While they might not trust it now, chances are they would; it just takes time(or education to speed it up). This is nothing really that much special, just human nature.

Because they've used USD since he was a child until now, that's why they think USD it's safe even they know it will got inflated every year and not all merchants already accept Bitcoin as the payment. USD exist since 1792 while Bitcoin exist since 2009, it's not wrong why they still trust USD.

Many people treat Bitcoin is for investment not a currency, even Bitcoin can be used for payment option... but it's not worth due to high fees if you transact small money. Other reason is people are paranoid, not confident and so on.

yeah if that ever passed (I doubt it ever will) it'd basically be USD suicide.

That's quite obvious! People do trust in USD more than bitcoin. Majority of the world population didn't hear the name bitcoin till date. But they all know about USD. USD is dominating the world trade since a log time time. Majority of the world trade is settled in SUD only rather than the local currency of the importer/exporter. So it's not a rocket science to understand that USD gathers more trust that bitcoin.

This might never change even after bitcoin reaching hundred thousand dollars price point. because then people new to bitcoin will have another fear of collapsing. So that might become metal barrier for them to enter into bitcoin market. In a nutshell, where trust matters the most, bitcoin may never be able to compete with USD in reality.

And that's obvious. Why do you think people still use it? USD has been a global medium of transaction since a long time ago. No matter the issues behind it, it still stands to be a fiat used globally in almost all (if not all) transactions that can involve it. Even if Bitcoin was the better option that some people believe, it still stands that it's in the minority, Bitcoin hasn't spread it's usability as a medium compared to how fiat or USD has, not to mention that well, it's fiat. It's an "official" medium.

Once we all agree that it is normal for people to trust the USD more than Bitcoin, another question arises: can you imagine some time in the future where people start trusting Bitcoin more? It would be like a trustflippening. I hope to see it someday but I think it's a long way off.

I can imagine a future where people will have more trust in Bitcoin and crypto than in dollar and other fiat! Like you, I think it will not happen any time soon... it's a long way, but I am confident, what crypto did in the last 10 years is amazing, and I am sure the next decades will also be amazing!
Also, this shows how much room for growth there is...  "trustflippening" is happening (nice word by the way!), and slowly the numbers are changing in favor of crypto!

Of course, apart from the fact that the USD was used first but the people behind the development of the USD are the people who have great influence in the world system. One example is the Rothschild family.
However, I think that in the future where more people buy things online, btc will definitely be the king of cryptocurrencies and will be accepted by everyone.

Still bitcoin is new so it will eventually takes time to fade away the influence of fiat which exists here for few centuries but the bitcoin and cryptocurrencies made an impact already that is why we all are talking about it and government is trying to suppress the bitcoin with the ban of exchanges, huge taxes, high regulation, deanonymizing via exchange KYC procedures.

It's okay if that's what most people think. Not everyone has already been engaged in bitcoin and that's why people are still into USD. Even I and the others here needed to make use of USD and their local fiats since many still didn't adopted bitcoin.
There's nothing wrong if most people trust usd than bitcoin. And we just have to be glad that we're part of the few that believes and trust bitcoin than any other fiat.

this is actually a normal thing for now because most people still believe in everything that is issued by the government compared to something whose regulations are still questionable.
bitcoin still has not gained full trust among the government and this is a stumbling block for people it is very difficult to trust bitcoin compared to USD.

I think so too.

Whether this trust is well placed or not becomes a completely different matter.

People are conditioned from birth to trust the government and the central bank's currency without any good reasons for doing so. It's irrational in every sense of the word given that fiat currency is backed by nothing.

....


If $1 trillion dollars worth of platinum, could be molded into a coin. A cube. Or another geometric shape. It would only be useful so much as it could be divided into individual sums to pay liabilities and cover debt.

If the united states owed the EU $200 billion, japan $100 billion and china $700 billion. A trillion dollar chunk of platinum could not easily be divided into $200, $100 and $700 billion dollar chunks. It would be useful as collateral and backing with the understanding that it could be chopped up and divided in an emergency. Beyond that its utility would be restricted, in ways which a $1 million dollar bitcoin would not.

With the US economy being roughly $20 trillion in GDP. A $1 trillion chunk of platinum would cover roughly 5% of GDP. Far shy of covering the national debt. Much less swiftly growing costs of social programs, which grow at a significantly greater pace than tax revenues.

Roughly 5% of GDP without factoring in the cost of purchasing platinum or extracting it from the earth. Which would have overhead costs of labor, equipment and surveys.

$1 million dollar bitcoin is much more exciting and useful than a big slab of platinum IMO.

What's USD?
It's not an investment, it even if considered an investment would still does not give good returns at all (compared to Bitcoins and other cryptocurrencies). There are things like Pandemic which would still affect the whole government/ the whole market. On the other hand they are liable to : control and corruption as well.
People don't have trust on USD but on the country USA at the end of the day, they don't have any idea about *debt*, the *money printing* which does mean that the country might fall soon. With the people *leaving their jobs* the economic stability might be problematic.
Therefore I do think that people need to *evaluate* their decisions and think about their statement again and make a wise decision.

Obviously it should be the old generation guys who don't want bitcoin to grow either because they plenty USD already in the banks or they are scared of bitcoin volatility blowing anywhere interms of direction or fear of bubble. The old generation is not just the old age level but some young people who don't believe in bitcoin are also classed among the old generation. Bitcoin ethusiast are sure bitcoin is the new way of thinking, they believe in it and are investing.

I will say to some percentage people do because they believe they have access to USD than bitcoin that they hardly know anything about but with the increase in technology more people are gaming into Bitcoin than you think

The main question here is where do you get the idea that Bitcoin is being more trusted by people compared to Bitcoin? We crypto user is a just a small percentage to the total population of the world. USD is being used since the introduction of fiat currency so its obvious that the majority of people will trust no matter how shady its printing process because its working as currency.

More massive price increase on Bitcoin means more criticism and doubt from Bitcoin critics. I preferred for Bitcoin price to become stable in the future rather than having an astronomical growth with a very volatile market due to fear.

I think mot only USD but also other fiats  for every country.
The use of fiat has been since long time ago and been used for every single transaction in the country or over broad.
We cannot replace fiat with Bitcoin. Moreover it is about society in which it is different each country. We can see many countries still ban crypto if used as currency, but fiat is always used for a currency and also payment transaction. Fiat is created by the government of the countries and commonly under the world bank. That is why Fiat has the biggest trust and also part in this life.

Normal to see this as the current trend doesn't sink in to the minds of the adults that's why majority of them still prefer usd over fiat since people always believe on what they see and touch rather than the digits we see online so its not surprising to see many people skeptical about it  since bitcoin still not supported by government that's why many think about shady about it.

What you describe is true, it is impossible for fiat to be replaced by Bitcoin. Moreover, most countries in the world prohibit using Bitcoin as
a means of payment. That is the reason why many people still trust fiat more than Bitcoin. Then USD has been recognized for a long time
as a means of payment for international transactions, no wonder many people prefer to use USD over Bitcoin when buying goods from abroad.
So somehow Bitcoin is indeed more effective as a digital asset for now, and we as Bitcoin supporters should be grateful for that.

Trust would really vary but no doubt that people would still be ending up on accumulating fiat rather than with crypto because they do know those legal issues or adoption situation which couldnt really be still on full scale due to regulation which it isnt surprising that government cant really just accept it easily.
Lets the people decide on which one they would be stepping into and also we could freely engage with crypto even we are trusting fiat and thats
the beauty on having multiple options.

It’s not really that people don’t like bitcoin, the volatility is a problem for most of them. I’m saying this based on my own personal observation, although this might differ for others depending on the location/country they are living at; majority of the lower and middle class are afraid to invest in bitcoin, because of how the price fluctuates too much. But, that doesn’t mean that they don’t like it or that they prefer the fiat over bitcoin.

When I talk with some people and ask them why they don’t want to invest and hold bitcoin, that’s the reply they always give me, that they are afraid of the volatility of bitcoin, but they do like it, just that they are not sure about it. So they like it, but they just don’t know whether to of for it or not.

Because USD is still a native payment for most people, not only USD other native currency according to their countries is still preferable rather than trying bitcoin as their payment. Maybe because Bitcoin volatile is so high so many people afraid to use it as their currency and use it as an investment instead. It takes time to people recognize the true power of Bitcoin  :D

Of course, USD is the world's strongest currency and has always been the standard price for products and services globally, USD gets a full guarantee from the US government, so as long as we keep USD, the US government will guarantee that USD can be received. another factor is because the value is stable so that people are not afraid to save in large amounts, this is different from bitcoin whose value fluctuates because it is a decentralized concept.

Let me ask you this question.... What would you trust more? ...A new technology that has only been around for a couple of years and one that are highly experimental .... or a Global reserve currency that has been around for 229 years?

You cannot compare a reserve currency that has been manipulated by the US Government for most of it's existence and then use Bitcoin that are not being artificially pumped and protected by any government to be a fair comparison!

For now though... I mean how long will that continue? Sure people who are 50+ years old will trust USD more than Bitcoin they have seen it all their life. However, bitcoin has been around for 10+ years now, so there are some kids who were born after bitcoin was created and they are actually starting to earn some money. Sure most 11-12 years olds do not make profit, considering bitcoin was "created" in 2008 but started in 2009, we could say maybe as high as 13-14 years right now, and most of them do not really make money right now but I am talking about like lemonade stand type of situation and they are learning about money these days.

There are MANY that are in early 20's and been living through this and seen that fiat world is treating them horribly so they are switching to bitcoin. Unless a better alternative to crypto comes up, I feel like this result will change in 20-30 years, we may start to have more people trusting bitcoin more than they trust USD.

there are many reason why most people believe in usd than bitcoin. they still need for life, simple is no one know about bitcoin in that area, or they see bitcoin as investment. they think, usd be the main strong handle for future.
in a fact, people obtain crypto and they sell if the price is good, they need money for their life and lust.

How do you know this for sure though? Is there a study or a survey conducted in this case that supports what you're claiming? Because in my opinion it's mostly opinionated and you're not looking at it in a wider perspective and you're just forcing or focusing on what you see because for me it's different, people have a varying opinions on this one.

You can't change everyone's mind in a short time when everyone in the world since they were still in school was taught to only believe in the fiat currency of the country.  bitcoin is still very early, let us slowly see millions of people change their minds and believe in bitcoin, all we can do now is believe and keep working hard to convince people around us that bitcoin is much better than fiat.

It is better to say that people believe in the government and politicians who will always advocate fiat. It is completely illogical that at this point most people start believing in Bitcoin, which despite 12 years of its existence is still something that people do not trust too much. However, the average US resident has a far better chance of finding out about BTC and being informed about it through the mainstream media than the average European. I watched CNBC a bit recently, and the price of BTC appears every few minutes in their infographics side by side with gold, silver, and best stocks, which certainly sends a very strong message to anyone watching such a program.

Here where I live people have very little or no knowledge of BTC, and the mainstream media mostly portrays it as something bad - while the central bank and related financial agencies have a very negative attitude towards cryptocurrencies in general. In this case, the average person cannot develop a positive attitude towards something that is constantly criticized.

https://www.cnbc.com/2021/12/10/consumer-price-index-november-2021.html

Maybe they don't trust USD so much anymore? USD inflation rate reaches 40 year high at 6.8 percent. This is even worse than it's been during the housing market crisis where the global economy almost tanked. At some point, the consequence of injecting trillions into an economy outweighs the benefit, and more people recognize that their purchasing power is decreasing every day.

The idea that government induced policies can essentially siphon money out of your holdings through reckless policy is why USD, and every other currency, is a sinking ship. This sort of inflation is not sustainable.

No need to mention that, we know how big USD is compared to bitcoin.

USD is globally accepted while Bitcoin is not due to some restrictions, in fact, bitcoin is not considered as the main currency but only an alternative currency when it was created and we should be happy it was able to perform according to its purpose.

Even if bitcoin's adoption will increase more in the future, it will never surpass the power of USD.

There is no question that most people are still in the camp that favors the USD over bitcoin.  Most people around the world blindly trust their government and quite frankly aren't intelligent enough to know any better or are willing to educate themselves of the downsides of government fiat.  Here is a great quote about why many people still prefer gov. fiat..

"I think many of the intellectually honest people eventually stop being critics, because they suddenly realize that the flaws they are identifying are temporary features, issues, and not inherent problems. There are very few inherent problems in a dynamically evolving design or ecosystem of different designs all competing, that cannot be resolved.  There are critics who criticize this technology primarily based on their world view.   It is politically inconsistent with their world view.  It’s not that they do not like the technology it’s that they do not like the implications of this technology and the primary criticism you get then is “this should not be” to which all I can answer is ..and yet it is.  “but we mustn’t”… and yet we did, “but you shouldn’t”.. but yet we did"- Andreas Antonopoulos.

I feel we should take a more objective attitude, it is completely right to recognize the strength of the US and the USD but they are not the only standard, the USD can be guaranteed by the US financial system but a lot of people still turn to unstable sectors to save, instead of holding large amounts of USD because our trust here is the existence of USD. If we stand at the benefit economic model, people will take a more stance on bitcoin, USD cannot cause such stimulus, so different positions and roles in heterogeneous sectors will give us special insight, the concept here is the right place to go and the right place to use

because there is always a fear for new people to jump in because they have to think about it from all sides.
and I was like that at first because this is indeed related to the finances we have, so of course it is very natural to be careful.
For crypto as long as there is no clarity about regulation from the government, it will still be difficult to trust it as a whole because indeed they will think twice if there is a ban (for beginners) so they are still careful.

USD is known to be the international currency and I don't think Bitcoin could easily replace that. Despite lots of adoptions, people still prefer USD because it's accepted in all types of businesses. People may consider the importance of Bitcoin but we can't deny the fact that USD has built a strong foundation of trust from all over the world already.

Most people still use USD that's why. People thought Bitcoin would erase USD in a year or two. Well, it is not going to be that easy. It is even possible that it is not going to happen any time in the future. All those countries, people they all borrow and spend the USD. Most people that buy bitcoin are actually after more USD. They are holding their btc only to sell for a profit.

Trust issues are real, and trust as we all know is not an easy thing to gain, especially in something or someone new. USD and fiat in general has been in existence for a longer time, people have had major experiences with usage of USD and fiat, so it is no surprise that their trust may be anchored there still. Give bitcoin some more time and definitely more persons will develop trust in the system as well.

People don't believe in USD it's just that they are in their comfort zones, they think the payment method and standard they have been used since ages and generations is more convenient than using a new age technology, if bitcoin would have been running through generations people would have preferred bitcoin too, technically they don't compare between the two on basis of pros and cons, they compare it on the basis of what is comfortable for them, most people don't even know the technology behind bitcoin.

Using the word USD is not correct here since USD is not the only currency in the whole world. Though we use it to understand the pair value against all other currencies in the world then also its just limited to the USA itself. Since there are hundreds of different currencies lets consider you talking about Fiat as such and thus peeps are preferring fiat over bitcoin. Well there is nothing wrong in that statement however, bitcoin's power is visible from its development over very short period of time. I mean within 10-12 years of its birth it has made the world go crazy and its part of everyone's talk everyday. Bitcoin is being mentioned at reality shows to being hosted on the SpaceX mission in altcoin forms! This is not something which fiat or (USD) did anytime soon in history. Bitcoin has given whole new purpose to second space of the world and I think its enough for its existence whether it goes 100k or not.

In deed in future Bitcoin will win trust of majority of the people worldwide when they understand the worth and utility of this great crypto currency. How fast it happens will depend how fast governments regulate it and allow people to freely buy and sell it. I am quite happy with progress of BTC adoption by Institutions in United states which is a big step forward in this direction.

I don't think people are waiting for 100k$ before they start to adopt Bitcoin or crypto-currency, so many factors are causing late adoption, one is fear of the government and the media as friends or tools for the government, I know many people that had adopted bitcoin and were so happy about it until the got into a clash with the government/government agencies, and ever since don't want to have anything to do with crypto-currency, but I believe the government hindrance will some day dissolve but now all that's need is to find ways to create a message about how crypto-currency hasn't come to cause conflicts between citizens and government but rather provide options other than the traditional ways.

People started believing in Bitcoin and on other cypto currencies and now its not like the earlier days when Bitcoin was introduced to the whole world and people were not believing in its growth. Now everyone is confident enough to invest but yes as said, only the fear of Government might take a decision to either ban and take actions against those who are into crypto by tracking their accounts via banks. This is the fear now a days to just stand back.

It is obvious that is the case, however trust has a very odd behavior, it can be extremely difficult to acquire, it is easy to maintain once you have reached a certain threshold, but if you shown a behavior that breaks that trust then getting it back is almost impossible.

The dollar had to beat the British pound to gain the title of the reserve currency of the world, and for the last one hundred years it has maintained its status, but now the US government is printing so much money that people are getting worried about it, and once hyperinflation hits the US at some point in the future then the dollar will lose that status and it will be almost impossible for the dollar to recover it.

Of course fiat currencies is what people have been using for quite a very long time, so it's only normal that it's what they'll believe in, fiat currencies are more popular and used than any other currency, so it's going to be pretty difficult for people to immediately trust another currency over it, but mind you that Bitcoin is constantly growing and heading towards mass adoption and a stage were it can be accepted globally as a medium of exchange.

But mind you that a lot of the mistrust people still have for Bitcoin is as a result of government/media propaganda, when more people start to come to the realization that many of such information is erroneous and that's it's actually great to be your own bank then we can achieve mass adoption sooner rather than later.

If only bitcoin is created much earlier then there is a chance that they will trust both. There is an advantage to fiat since it's price is not changing all the time like bitcoin and the thing you said that usd has been used as a global medium of transaction and until now. Many woman in my country even date in other country to have usd.

That it is at least so simple, but a much bigger problem is that many advocate Bitcoin exclusively as a store of value and not as a currency which is actually the original idea of the one who conceived the whole thing and made it possible to exist. Even those who accept Bitcoin as a means of payment do so through payment processors that do an automatic conversion to fiat, of course in order to protect themselves from volatility.

But as I mentioned before, trust is gained over time, and Bitcoin exists relatively short if compared to USD or even EUR. I hope that this trust will increase by the end of this decade, everything before that is too early in my opinion.

Inflation in the US is around 7% now. If this continues, soon USD won't be the safe haven because asset/product prices will be as volatile as btc/usd, maybe even more volatile. Once this happens, the USD will lose its reserve currency status and people dump it for something else.

The FED is going to have to make a big decision. Kill the USD or the asset prices. We will see how it will go.

Do remember that majority of the people still lack the proper knowledge of understanding cryptocurrencies which hinder the further recognition from it. Given also that fiat is the main currency of exchange around the world, it is obvious that most people would trust USD (or fiat in general) than cryptocurrencies.

While cryptocurrencies have no hindrance in terms of exchanges as it is considered financial freedom, the lack of regulation makes it difficult for its recognition around the world. Also do note that cryptocurrencies can be relatively difficult if you view them primarily as currency.

Depends on the technology isn't it? Cars have been around for over a century, but then EV got here and now everyone uses EV instead of petrol cars, well not "everyone" because production is not fast enough and people are not really rich enough to get it, and it is even not manufactured fast enough to be sold right away. However, a new technology could be something better than the old one depending on the technology.

For example, we have electric scooters right now and everyone loves them, we also had segway type of deals that bankrupted and not got any attention so not every single brand new tech will be great, sometimes it is not great at all. We just need to decide if bitcoin is more like these new e-scooters that everyone loves, or is it like segway? Right now it looks like it is loved by everyone, lets hope that it stays that way in the future as well.

USD is not volatile unlike Bitcoin, that's why most of the population still wants fiat even it's not gonna give them a huge profit in the long run, they want a steady profit but sure. Some people can't handle the thrill when holding bitcoins in their wallet every time the bear market hits, that's why they made another choice which is USD.

But for cryptocurrency enthusiast, Bitcoin and other cryptocurrency are much better and fun to have than USD.

I'm not sure about the resource of this news but let me tell you if you compare USD/BTC on past 10 years you will understand during a few years ago bitcoin was totally and being unknown make it really untrustable so people could trust dollar much more than bitcoin because it was getting supported by us government and people were seeking for something that's centralized because they couldn't really understand the economic freedom. but time after time and because of the rise of inflation rate USD becoming worthless also bitcoin is becoming trusted more than before.

It is because they can see USD form than bitcoin form and they already used USD a long time ago. They still prefer USD to bitcoin in their daily because besides that, they get an easiness using USD because USD is accepted in all countries while they can not use bitcoin in all countries.

But some people realize that bitcoin can be used for transactions and also as an investment so they prefer to use both USD for their daily life and bitcoin for their investment. Those people will have a chance to change their life because they can prepare their life for the future.

LOL , USD can be frozen instantly so why will people trust this over bitcoin ? only noob and those does not know the deepest idea of Holding their funds in crypto.
and besides Bitcoin cannot be manipulated by the government when USD can be done.
it is only your belief that brings you that and also those who knows nothing about bitcoin but for us who has been in this market for long? we knows what will favor us.

What USD provides that Bitcoin doesn't is the security. Surely we know that there are scams going on in fiat world as well and there has been for many many decades before bitcoin was even a thing, but at least you have the government and laws and law officers and lawyers all on your side at the same time when you get scammed in fiat world, doesn't mean you will definitely see your money back, but at least there is a chance. On the other hand we have bitcoin where once your money is gone then it is gone.

I remember the day my friend lost 3k dollars of his own money in a scam, the idiot gave it away to someone else trusting that person and that person blocked him right away. Obviously my friend is an idiot for doing something like that, even a child wouldn't do that, so I can't be mad at the scammer for scamming someone so gullible to fall for something so easy, but in the end my friend had no options available. If that was in fiat, at least he would sue that person and even if he doesn't get his money back, he would be able to move that person over to the criminal justice system.

Well, consider that most of the people do not invest into bitcoin, notbdo they subscribe to the idea of crypto. So this is a matter of educating the gen pop about what BTC really is. Then, and only then will we have a change of oppinion regarding trust. But that's a slow process.

bitcoin is still too early to be trusted by many people, just look at how people around us still depend on fiat and dollars to transact

maybe in the next few years when the adoption of crypto is visible, the people's trust in fiat and the dollar will disappear instantly

Stolen Bitcoin is basically similar to stolen cash.

Police does recover it in a similar way:

UK Police Recover $22M in Stolen Crypto From Scammers (https://www.coindesk.com/markets/2021/08/17/uk-police-recover-22m-in-stolen-crypto-from-scammers/)

Police in China Recover $460,000 in Stolen Bitcoin (https://www.sixthtone.com/news/1007426/police-in-china-recover-%24460%2C000-in-stolen-bitcoin)

Stolen bitcoin is hard to get back, but the FBI says it just did it (https://www.fastcompany.com/90644461/stolen-bitcoin-is-hard-to-get-back-but-the-fbi-says-it-just-did-it)

Agree to this same as my self since USD is really established few centuries back and that is really the main currency .  I think nothing wrong with it. Bitcoin is just an innovation, while others making it as an investment which  the main purpose of bitcoin when it was created is mainly as a payment method with less fees. Now people in USD they really think USD is a payment method while others is making trading out of it to make money.

It is still a very long process to get everyone to believe in bitcoin although I don't think it will eliminate USD or fiat completely, they have been around for a long time compared to bitcoin which is over 10 years old.
and the growth of bitcoin continues to increase and its users are always increasing and all of that is a process because gradually they realize the usefulness of bitcoin is very good and will also benefit them, because bitcoin grows and stands alone and only those who are aware and interested in getting involved.

True, and you wouldn't blame them for that. It takes someone with a lion heart to trust Bitcoin more than the USD considering the volatility of Bitcoin. However, Bitcoin is for the future.

People trust USD more because they saw and listen more often than bitcoin. There is a massive ad running for promoting fiat. Also, the most powerful country is behind all this and nobody can not deny their dominance over the world economy.

Very few people know what bitcoin is and how it works. That is the reason we saw correction when we saw fud about bitcoin. People used to believe what they saw in the newspaper. They don't use their time to do some actual research to find out the truth.

Also, USD is acceptable everywhere but BTC is still not very common to trade in the open market. Though the situation is changing slowly.

bitcoin users in the world today are only a small part of the existing population, while usd has been recognized worldwide as the world's standard currency, therefore it is not surprising that more people trust usd than bitcoin, especially today there are still many countries that have not legalized bitcoin, and this became a limiting factor in its development

In simple terms it is like that, USD is still one of the benchmarks for most people because as you said, USD is one of the global currencies that can be used anywhere and anytime, so they always rely on it.
In contrast to bitcoin, which is only in the scope of crypto, as well as several countries that have adopted and legalized payments via bitcoin.
but zones like this if possible should be left as soon as possible if you really want to be in crypto. because indirectly if you still rely on USD you will only panic when the btc correction occurs like it is now

In fact, the trillion dollar coin idea is quite realistic, and most importantly, it could be the solution! For the United States, domestic debt is a "sacred cow" that, on the one hand, can be manipulated, and on the other, its solution is so simple that it is hard to believe it. And the most interesting thing is that there will be no consequences for the economy! The printed matter of the Federal Reserve System is sold around the world in huge volumes and everyone is happy to receive it again and again :)

We are actually heading there and lets not rush up because things wont supposed to work and to be that way on what we do have in mind and also

we've been trusting fiat ever since we do gain awareness of this world or on the time we are already earning it and we do have
that primary motive on earning fiat as much as we can.

Even dealing with crypto would still really have that main aim in mind.

This is normal. After all, the US dollar has controlled the world for too long, and perhaps it has become a habit. So, the habit is terrible, and now Bitcoin is gradually being known to everyone, this habit is gradually being broken.

I agree with it that we are heading there, we are heading into a time where people will going to trust bitcoin or cryptocurrency. So far even a small step at a time we now hear some news that a certain country legalize the use of bitcoin like El Salvador, somehow there are some countries that don't ban cryptocurrency, and people can still continue to use it, earn from it but they still needed to transfer or sell it in P2P to get a fiat value. It is undeniable that most people trust fiat because we've been dealing with fiat for so long, some other people can't ride on the trend while the government didn't implement it that's why legal adoption of crypto in each country would be a breakthrough for crypto platform once happen. On top of it, we don't need to rush things like this to happen because I believe that time will come most people will finally trust bitcoin as we did.

Not everyone trust USD over bitcoin, I'm from Africa and I prefer crypto over my country FIAT currency because while keeping money in the bank the value always goes down and I don't like that, I prefer keeping my money in bitcoin or Ethereum instead

People live and use dollars everyday in shops because dollar is a national currency in many countries. That is why it seems they trust the USD more. However a lot of them invest in BTC, hodl and secretly expect that once BTC will reach 1 million USD (or something) and then they’ll become very rich and happy. To put it simply, they just don’t want to spend their BTC as it can jump “to the moon” every moment.

Even people do knows about crypto they would still end on trusting fiat in the end of the day except into those people who are really seeing the beauty of crypto
in terms of decentralization and new payment system. Doesnt matter on which one we do trust up.It is just on how to see on which one
would really giving out that benefits into you doesnt matter whether as a whole or as an individual.

OP says "most" and I think that he's right about it. Those who prefer crypto over the US Dollar are mostly in their 20s and 30s. In my country, I haven't found much support among the older generation for cryptocurrency. And worse still, a lot of people in these age groups associate cryptocurrency with criminal activity such as contraband trading and ransomware. The hostile stance from the government is not making things any easier either. I don't think that the situation is any better in Africa.

We as crypto enthusiast like it or not but people still trust US $ more than any other Fiat or crypto currency because it is being used since decades for all commercial activities including Imports/exports and its value against other Fiat currency has not declined but grown. The fact is that the whole monetry system of the world revolves around US Dollar despite the fact it is massively printed that makes if inflationary. Crypto is still in early stage and it need more time before it is fully accepted as method of payment globally.

USD is the strongest and most popular currency in the world, maybe people know USD when he was a kid, while crypto is a new thing that is around 12 years old, it took a long time to catch up with USD, the concept of decentralization is difficult for anyone to understand so with USD holding value fixed and getting full government guarantees make USD the top choice over cryptocurrencies.

it is very clear, USD is the most powerful currency today and it can even be said that everyone is familiar with USD because USD is currently still a medium of exchange that can be used in all countries. And most importantly they are in real Money.
In contrast to bitcoin which incidentally is a virtual currency and in terms of their age they are still very young and there are still many people who do not know bitcoin.
So it's something that's for sure it can't be changed

People trust USD more than bitcoin because of the fluctuations in the price of bitcoin. The price of bitcoin is always unpredictable. No one can tell that wether it will be rising or falling in the very next moment. As compared to this USD is having a fixed price. It only varies during their conversion in other currencies like EUR, Rs. Etc.
In cryptocurrency it is having a fixed value.
So people want to put all of their money in such a coin whose value remains same and USD is mostly trusted in this case.

Personally I do not blame the average person for trusting more in the US dollar than any other currency including bitcoin, whether we like it or not the US dollar is the currency of choice all over the world to conduct international trade, compared to that huge power and adoption bitcoin is still in its infancy, however we are slowly making progress, people are understanding the US dollar is going through a period of inflation and they are looking for other ways to store their wealth, and bitcoin is one of the options they are considering to do something like this.

It's true that USD is very popular, and all countries trust it to make international transactions. So it's a fact that many people trust USD more
than Bitcoin. Because Bitcoin is still unknown to everyone in the world, even some of my family have never heard of Bitcoin. Even though there
are people who know Bitcoin, they usually don't understand how Bitcoin works. Bitcoin has a very long journey to be able to gain the trust of
many people, therefore I strongly agree if Bitcoin is included as a subject in school. So that the Bitcoin adoption process will be faster if Bitcoin is
studied early. Moreover, the government is only neutral towards Bitcoin, so it is quite difficult for Bitcoin to gain the trust of many people.
If there are more and more countries whose governments support Bitcoin, then I believe Bitcoin will quickly gain the trust of many people.

There is no doubt about this say man, many people are scared that bitcoin will keep dumping, but usdt will remain stable, because usdt is stable coin and its a standard currency with great potential worldwide, that's why people have strong believe in usdt and some prefer to hold usdt in order to monitor market and invest proper.

at least people trust crypto just to make big profits, and that's what got us here. in the end the crypt that we have will be turned into fiat, and we can use it to buy something we want. this is because we live in a country and must comply with the regulations in that country itself. but we will never know for sure what will happen in the future

It’s really nothing at all, and of course most people should trust the USD or Fiat more than bitcoin. Most of us see this BTC as an investment, and normally every investment would have risk, so people would always prefer to have their money stored as Fiat than having it stored as an investment or in an asset. When you store your money in an asset, you know that it is likely to go both ways, either that you are losing or you are winning.

So in a situation like this, Fiat is more stable and you can be able to maintain that value to a particular level you want, although it’s quite possible that Fiat can face inflation and lose value. Which is why it is very important to also invest your money, but you shouldn’t invest everything. I wouldn’t advise anyone to put all their money in Bitcoin because that is going to be a risk, they can save majority as Fiat, while they invest a little in Bitcoin and hold it for profit.

I wish people in my country thought of it as just "scam", at least they could see that it is not a scam eventually and it would be a better future for all of us. My nation sees it as a "get rich quick" scheme and they invest their money into it with the hopes of making a profit as soon as possible.

We all know that there are periods when you could get insanely rich thanks to crypto in a very short span of time, someone who bought and sold crypto constantly during late 2020 and early 2021 could have made 100x profit and could get very rich, a few thousand dollars turning into hundreds of thousands of dollars would have been possible, but that is a very short period in crypto world and unfortunately it has to stop and did stopped as we all know. So, I wish people saw it as a retirement plan instead of get rich quick, that would have been awesome and a lot better than the current situation.

I don't know whether "trust" is the right word to be used here. In my country, a lot of people would prefer US Dollar over Bitcoin, not because it is more trusted, but because it is more acceptable. Here in India, the legal status of Bitcoin is still in the grey zone and the traders and investors are kept in limbo about the tax implications and possible legal challenges. Also, in terms of exchange rate a lot of people would admit that the United States Dollar is much more stable when compared to the other fiat currencies.

You need to understand USD is a known item that slowly shrinks in value.

Btc is an unknown item that goes up and down.

I will Concord that people like USD than bitcoin because bitcoin is like newly adoption of a currency, while usd has been in existence for thousands years ago, so their is every tendency that bitcoin will not be given hundred percent (%100) trust over USD because of the time frame of it's existence, and these will usually take serious by politicians because from time they disguised bitcoin and also render castigations over it in order to eliminate it's existence and it's development, they really prefer fiat currency over the domination of bitcoin, we will see the comparison within the space of twenty years interval. That is statistics of bitcoin and fiat will enter into labour market.

I think the reason is that usd is backed by U.S government. And he controls this currency. And it is a stable currency which price is stable. But Bitcoin is a crypto currency which price fluctuates. And we get profit or sometimes loss if we hold Bitcoin currency. And the main issue is that there is no government or owner that controls this. And it is only used over internet.

The important thing is, what do you trust?

Undoubtedly, since the majority of people who have bitcoin are greater holders of Fiat than bitcoin itself, because the reality is that only few can say that their assets in bitcoin are greater than what they have in Fiat.

So you have to be informed what happens with the USD, there is no other way, no matter how bitcoiner you want to be, but being aware or being alert with the USD does not mean that this translates into confidence total (100%) in the USD.

That is in the case of bitcoin holders, but in those who still do not even want to invest a $ 1 in bitcoin, the opposite happens today, maybe a few years ago, no, so the confidence was 100% in USD, but today persons are alerts, pending what happens with bitcoin but that still does not translate into trust, but I am sure it is no longer 0%.

USD is the world currency, it's been widely used before bitcoin think of existing. You don't expect someone who hasn't heard about bitcoin before to choose bitcoin over USD. We as human beings always believe in want we can feel or touch than what we can't see or touch. That mentality has eaten deeply into human behaviour. That's why it's always hard to convince the old ones to invest in digital currency. The young ones that have accepted bitcoin are because of how exposed they are to digital currency.

It's funny because that's exactly what the Fed is doing right now.

They don't need to mint the 1 Trillion dollar coin because they are doing so through repos every single day.

People are conditioned to accept fiat currency but they are not conditioned to do the same for BTC. Simple as that.

Bitcoin and crypto-currency aren't trying to fade out or throw the Fiat system into an extinction, atleast satoshi never wrote this as the main purpose of Bitcoin, but rather it is here to enhance, complications of Fiat methods and thereby giving individuals another alternative to choose if they want to, Bitcoin/crypto-currency has roles to play in make humanity existences simplified, also Fiat would still be around playing it own part.

I can easily say that mine holdings at bitcoin alone is bigger than my holding at USD, and do not even get me started on altcoins as well, I have a bunch of them as well so if you combine all of my holdings at crypto that is huge. What do I have in fiat? Just the money that I need to spend that month and nothing more, I literally have zero investment in fiat, just the paycheck and that's it and nothing more.

My only investment is in crypto form and nothing more. I get that not everyone around the world is like that, 90%+ of the people in the world have their investment in some sort of non-crypto form but eventually more and more people will come into crypto for sure.

Well, this won't be the scenario with every user. Mine is good as this, because unlike the market crush and variation I prefer investing on cryptocurrency. People who've found experienced the good of cryptocurrency investment will never think of looking back to traditional investments anymore. As per my understanding, now the number of investors into cryptocurrency have increased big than the past. This is happening as a result of acquiring more knowledge about cryptocurrencies.
However the increasing adoption results in the rise of investments on cryptocurrency. Nowadays this has got to be seasonal. At present people are much into the investment on Metaverse projects, months back it was on defi.

Fiat currency has been around for a long time. People are accustomed to fiat currency transactions from the beginning, and fiat currency will be guaranteed by the government and banks, so people trust it more.
Bitcoin prices are volatile and unstable, and many people have not fully understood and accepted it. Cryptocurrency is still in the initial stage of development, and it needs more time to be accepted and used by more users.

Yes ,, that's true anywhere known about usd because it's a common word and all can use it ,, so most people usually use usd ,, except for bitcoin ofcouse now they don't know anything about the real life of bitcoin is it  helps everyone or what others think is a scam so sometimes we can't blame them if that's what others know but for me it's better to use bitcoin currency and hopefully everyone will know that bitcoin is a real currency and  more than a usd for me.

USD has become an international currency since 1914 and until now the US continues to maintain the trust of the entire community in the USD currency as the main medium and all world governments have also recognized the USD currency, but Bitcoin is only a digital currency whose existence has only been more than a century and not yet recognized by all governments as a currency, seeing this it is very natural that so far many people trust USD more than BITCOIN.

I think it comes down to who do we ask. If we ask crypto investors in what they believe more, the majority will say BTC. But if we ask the average person on the street it might be an older person who believes more into USD. For the old generations when it comes to money they need to feel it, have a physical wallet in their pockets with cash. Over the time this will change. I like the 1 million comparison. It might seem like a big stretch right now. But who would have thought when bitcoins were at 100 or 1,000 USD that it would go above 60,000? I am sure we will see much higher levels. Its just a matter of time.

I think if everyone asked this question, of course they would have more confidence in the usd, considering that currently bitcoin users are still minimal around the world, even many who don't know about cryptocurrencies. on the other hand for bitcoin users, of course they are more comfortable saving btc than usd, considering this is a profitable investment

I think both of them should not be compared in any way since to they serve different purpose. USD is more stable when compared to Bitcoin which some will say it is a safe heaven particularly if you don't want your capital to be affected by the market fluctuation but when you talk about where to invest your money and expect good return on investment then Bitcoin cannot be compared to USD.

We do still end up on accumulating fiat in the end of the day because people would really be always looking after with fiat value whenever we do deal with cryptocurrency and lets just accept that kind of fact.People do surely trust up fiat in the end of the day and even bitcoin do exist but still we do really still rely on it thats why its impossible that there would really be having that trust up on much
on crypto even though it is on the main trend now but people do still keep aiming on earning fiat no matter what.

Given that fiat is still what is required for taxes it obviously has more fundamental demand then crypto.  Until the US Government starts allowing people to pay their taxes with Bitcoin, it will remain with that advantage.  There is also a lot of business that happens out there and change is slow.  Taxes may be the extreme example, but think of everything you need to buy to survive.  How much of that can you truly buy without fiat?  I'm not talking spending Bitcoin on gift cards or using a Bitcoin backed credit card, but actual Bitcoin accepted by vendors.  We have a long way to go still.  Some countries have shown there's still hope, but it'll be an uphill battle for likely a couple generations before Bitcoin could surpass fiat and particularly the dollar in trust.

This kind of adoption is yet to be seen in crypto market.
As of right now, we still need to convert our crypto to fiat, in order to pay merchants.
Very few in our surrounding area are directly accepting crypto particularly bitcoin.
But during this pandemic, I believe a lot of merchants or shops are looking into bitcoin as their alternative payment method as the world is going into digital era.
So we can't really expect that the large percentage of population will be into bitcoin.

If anything new arrives means there is some issue exist in the old system and with fiat money the banks and inflation are real cons of it and which is keeping the people economically poor even if they keep earning more and more so satoshi wanted to break this chain and tried to being a new system which is not under control of single authority which eventually got success as well.

And more seriously, it will be difficult for bitcoin to surpass fiat because there are certain traditional roles that fiat do for every country and if bitcoin is able to surpass it, it means fiat is dead and buried and we know that may not happen. For instance, I believe that there are little expenditure that paying through bitcoin will be meaningless and only fees will discourage such payment. So if the two , that is fiat and bitcoin would be used the more efficient for the financial system.

I do not agree with your statement about USD and bitcoin. People do not trust USD they are forced to use it because USD could be called a global currency that is accepted everywhere. People know they can use it everywhere so they feel safe to keep it with them.

People trust BTC more than a traditional stock market or USD. That is the reason behind the growth of BTC market capitalization. Many people think BTC is a safe investment for the long term. But people use USD more than BTC because USD has more use cases in real life when BTC is only good for storing value.

then what if the question is asked to someone who uses both (USD and bitcoin) ? I'm sure they will answer according to the function of the two.
if you ask about the accepted means of payment in many places they will definitely choose USD, but if you ask about profitable investments they will definitely choose bitcoin. we cannot judge both of them from one side only because they both have different advantages and disadvantages.

You have to realize that bitcoin is still very volatile and still a growing technology that needs more massive adoption as we have been seeing. So some people are by nature conservative, because of this they trust what they can feel and touch and something that appears stable but actually dying in the real sense. Not everyone can cope with a huge risk and volatility.

Do you mean people will trust Bitcoin if the price becomes stable? I don't think it is a reason why people more trust USD. We know that Bitcoin use is still quite limited, cannot be fully used for various purposes in all countries in the world. In my country, people are only allowed to use Bitcoin as a digital asset. And there are too many critics about the uncertainty about Bitcoin. This makes people prefer to choose what common people use nowadays. If Bitcoin is getting more familiar and it can be fully accepted both for digital investment and payment purposes, people may choose Bitcoin. 

Ofcourse, there are still many people who chooses to trust USD than bitcoin over bitcoin because bitcoin isn't that fully developed yet and its volatility is too high to trust on. The fact that the government isn't favor on cryptocurrencies especially bitcoin, and that's really normal nowadays. And the other factor would be is, people doesn't have enough knowledge about bitcoin and its works that may eventually help their lives in a much more different way. So, I think it's our obligation to give people some knowledge especially if they think that bitcoin is a scam or bad for the economy.

It couldnt really become stable no matter what and it would be always that volatile because it is a market which do involves buyers and sellers which it is would be always volatile no matter what and this

had been the primary reason on why people do love out the most on hanging out on this market because of that very sole reason and of course people would always trust up fiat no matter what

and would end up accumulating fiat no matter what and of course they would really be trusting it out which it is just normal to have those kind of mindset.

This has a lot to do with the conception of the training model that we have, education is everything, if we just stick to believing what they say in the news and do not investigate, we do not look for the origin of things, they can tell us that the BTC It is the worst thing in the world, that what is important and what FIAT money really is, in this case the USD, which is a difficult concept to extract from people, however, when they know BTC and everything that brings with it its deflationary economy, it is easier to achieve Financial Freedom, this is something that has to do with the level of culture or financial education, and it is difficult for many to break those paradigms.

Of course, people will continue to trust as strong as the government convinces people that fiat is really backed by gold and as long as it can be transacted to meet their daily needs.

What reaches people about bitcoin is just name/brand awareness. Most of them don't really understand the technicalities and reasons for bitcoin to be valuable. People have become comfortable with government guarantees and the only way bitcoin can be trusted is to legalize it. Before that happens, people who trust in bitcoin, that means they trust in something that is not legally guaranteed.

Just think this analogy (at least). You have 2 friends and one of them has been your friend for a long time already while the other one is just a few weeks. Would you trust your friend more than the other one that you only knew for a few weeks? At least you got the point :D.

USD exists for a long time already thus, it gained the trust of most of the people around the world and because of that many people are using it. On the other hand though, Bitcoin has been there for only 12 years and counting and how many know about Bitcoin? Only a few percentage of the global population compare to how many people know about USD. One thing more is that USD is the most widely accepted currency because they trust it more than Bitcoin. Well, this might change throughout the years and we might see more and more people trusting Bitcoin than USD.... or not :D. We don't know.