h2o_code (OP)
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August 25, 2018, 05:19:39 PM |
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The hype of Bitcoin attracted people from a wide range of backgrounds around the world. What makes all those people trust Bitcoin? Trust is needed when there is an exchange in cooperative relationship with the existing of uncertainty and vulnerability*. This situation is valid in Bitcoin exchange.
What are the factors that influence trust in Bitcoin system? If we would like to measure trustworthiness in Bitcoin, what are the attributes that contribute to the variability of this measure? Why people trust in Bitcoin?
I would like to hear from the folks in Bitcoin community, your responses are much appreciated.
* Hoff, K. A., & Bashir, M. (2015). Trust in automation: Integrating empirical evidence on factors that influence trust. Human Factors, 57(3), 407-434.
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pat4cryptoreal
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August 25, 2018, 06:15:39 PM |
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There is a level of trust that have develop over time towards bitcoin. Bitcoin have proven to be an innovative fintech with incomparable transparency and speed.
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PsylockReborn
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August 25, 2018, 06:57:34 PM |
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Knowledge about the usefulness of the technology is one key that will build trust from investors. Bitcoin has already proven so many things few years back. Despite the endless FUD about bitcoin, it remained strong because of the support of the community. For me the most trustworthy crypto today is bitcoin so if you want to invest in crypto you won't take your chances on shitcoins.
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avikz
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August 25, 2018, 07:03:46 PM |
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Trust is needed when there is an exchange in cooperative relationship with the existing of uncertainty and vulnerability*. This situation is valid in Bitcoin exchange.
I am not sure if I have understood it correctly! "uncertainty" is what made crypto market a speculator's heaven but can you please explain about "vulnerability" please? I know the meaning of "vulnerability" but unable to understand the context here! The trust factor is very closely related to the potential profit. A majority of the people is still attached with the crypto market, because they believe that cryptos will reach to Moon one day and they will be millionaires. That's how this group of people "Trusts" crypto. A very small percentage of people are actually interested in technology and that's why they "trust" crypto! But we can't really leave any one of them because both type of believers are the pillars of crypto eco-system! Some trust the money and some trust the technicality! That's it, Simple! |
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h2o_code (OP)
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August 26, 2018, 09:38:52 AM |
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I am not sure if I have understood it correctly! "uncertainty" is what made crypto market a speculator's heaven but can you please explain about "vulnerability" please? I know the meaning of "vulnerability" but unable to understand the context here!
Consider vulnerability as a risk in this context, if there is a risk, why people will trust Bitcoin? |
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h2o_code (OP)
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August 26, 2018, 10:03:53 AM |
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There is a level of trust that have develop over time towards bitcoin. Bitcoin have proven to be an innovative fintech with incomparable transparency and speed.
what made this level of trust to develop over time? and do you think transparency and speed are some of the factors that influence trust in Bitcoin? |
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h2o_code (OP)
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August 26, 2018, 10:17:34 AM |
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Knowledge about the usefulness of the technology is one key that will build trust from investors. Bitcoin has already proven so many things few years back. Despite the endless FUD about bitcoin, it remained strong because of the support of the community. For me the most trustworthy crypto today is bitcoin so if you want to invest in crypto you won't take your chances on shitcoins.
So knowledge is a key factor to build trust. What about factors such as culture, age, and gender, do you think they do influence trust in Bitcoin? |
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BlackPanda
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August 26, 2018, 10:22:10 AM |
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Knowledge about the usefulness of the technology is one key that will build trust from investors. Bitcoin has already proven so many things few years back. Despite the endless FUD about bitcoin, it remained strong because of the support of the community. For me the most trustworthy crypto today is bitcoin so if you want to invest in crypto you won't take your chances on shitcoins.
So knowledge is a key factor to build trust. What about factors such as culture, age, and gender, do you think they do influence trust in Bitcoin? Things like culture and age will indeed influence, but if we talk about cryptocurrency then I am very sure that this does not have a big influence. Cryptocurrency like Bitcoin is easy to learn so I think everyone can easily understand Bitcoin. What is needed is willingness, when we have a good sense of knowledge we will have the opportunity to achieve good results too. |
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evilsign
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August 26, 2018, 10:29:45 AM |
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The hype of Bitcoin attracted people from a wide range of backgrounds around the world. What makes all those people trust Bitcoin? Trust is needed when there is an exchange in cooperative relationship with the existing of uncertainty and vulnerability*. This situation is valid in Bitcoin exchange.
What are the factors that influence trust in Bitcoin system? If we would like to measure trustworthiness in Bitcoin, what are the attributes that contribute to the variability of this measure? Why people trust in Bitcoin?
I would like to hear from the folks in Bitcoin community, your responses are much appreciated.
* Hoff, K. A., & Bashir, M. (2015). Trust in automation: Integrating empirical evidence on factors that influence trust. Human Factors, 57(3), 407-434.
trust is certainly based on reality, and the reality of bitcoin that starts from zero and becomes very expensive is what makes people think, ask, and finally believe that bitcoin has value and is worth having. If you follow the words of others, you will feel that you are in the middle of an ocean that will be swayed by a sense of confusion, because not a few people do not like bitcoin. Maybe because I want to get bitcoin at a low price or other factors, I don't know for sure. |
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akosijue
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August 26, 2018, 10:38:26 AM |
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From my point of view, I think Bitcoin has been trusted for many years now eventhough the first FUD years really existed, and I think this is one of the many reasons why people trust the Bitcoin system. Many critics, analysts, amd crypto experts said that "Bitcoin will fall", "Bitcoin will not last", and many more things that only proved them wrong these last few years of bullish market, and from my point of view, many would say now that the Bitcoin system is trusted proven by many crypto enthusiasts and they're thr ones that are gonna advetise the credibility of it attracting more investors payment systems applications, and future investors.
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flying_bit
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August 26, 2018, 10:41:00 AM |
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The hype of Bitcoin attracted people from a wide range of backgrounds around the world. What makes all those people trust Bitcoin? Trust is needed when there is an exchange in cooperative relationship with the existing of uncertainty and vulnerability*. This situation is valid in Bitcoin exchange.
What are the factors that influence trust in Bitcoin system? If we would like to measure trustworthiness in Bitcoin, what are the attributes that contribute to the variability of this measure? Why people trust in Bitcoin?
I would like to hear from the folks in Bitcoin community, your responses are much appreciated.
* Hoff, K. A., & Bashir, M. (2015). Trust in automation: Integrating empirical evidence on factors that influence trust. Human Factors, 57(3), 407-434.
Bitcoin been around for almost years that makes people trust it. Like wine, it get it'a value from it's age. The mere fact that it able to exist, being able to use and remain unhackable with the use of blockchain for several years proves it legitimacy. Bitcoin able to survive several issues like mtgox scandal or banning of use in several countries but people still use it and it continouse to grow. With that bitcoin proves it supremacy and gain trust from investor. |
Reality is the only thing that is real.
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princestan
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August 26, 2018, 10:57:30 AM |
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The ability for bitcoin to rise from the scratch to its current state without been hacked, is enough to gain investors trust. Bitcoin over the years has brought tremendous growth in the crypto currency world and in the world generally today, i personally think that it deserve all the trust and support from the us...
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vqscyxuo
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August 26, 2018, 10:59:46 AM |
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The value of Bitcoin exists because of trust factors, and I think the foundation of computing on the Web has created a common trust in Bitcoin.
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Strufmbae
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HIRE ME FOR SMALL TASK
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August 26, 2018, 11:13:16 AM |
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We have this issue back in few years ago that bitcoin and some other crypto will be just like a bubble, reaching heights but will pop out and vanish, investors trust bitcoin because of it's capability to be the biggest asset an investor could have save in the near future, factors can be evaluated through exchanges when you trade bitcoin to other crypto.
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hugeblack
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Buy/Sell crypto at BestChange
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August 26, 2018, 12:01:23 PM |
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What makes all those people trust Bitcoin? All have an overwhelming reason to trust Bitcoin, some trust in decentralization [1], transparency [2], Anonymous [3], price will rise to the moon, and cheap global transfers. What are the factors that influence trust in Bitcoin system? If we would like to measure trustworthiness in Bitcoin, what are the attributes that contribute to the variability of this measure? Why people trust in Bitcoin? The same factors that affect the cause of trust in bitcoin. For example, some countries and regulators do not trust Bitcoin because it is impossible to know the players involved[4] and the difficulty of tracking their transactions. Others have reasons for price volatility and legal status such as large shops[5]. [1] Is Decentralized Bitcoin Really Decentralized?[2] Bitcoin is often perceived as an anonymous payment network. But in reality, Bitcoin is probably the most transparent payment network in the world. [3] Bitcoin Anonymity - Is Bitcoin Anonymous?[4] The SEC disapproved the ETF because "unidentifiable participants can influence the market".[5] Microsoft Resumes Bitcoin Payments After Halt Over 'Instability' |
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Kolikalex55
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simply getting the job done
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August 26, 2018, 12:04:14 PM |
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I think the main factor of growth played a hard fork and then started to take in Japan ! Now light waiting for the ETF !
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Mycro Jobs
〈 SIMPLY GETTING THE JOB DONE ⟩ |
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h2o_code (OP)
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August 27, 2018, 08:46:09 AM |
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If Bitcoin gained the trust of people over years, what if there is a new system that is based in blockchain, what are the factors that will help you to trust that system?
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dohh
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August 27, 2018, 08:53:22 AM |
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The hype of Bitcoin attracted people from a wide range of backgrounds around the world. What makes all those people trust Bitcoin? Trust is needed when there is an exchange in cooperative relationship with the existing of uncertainty and vulnerability*. This situation is valid in Bitcoin exchange.
What are the factors that influence trust in Bitcoin system? If we would like to measure trustworthiness in Bitcoin, what are the attributes that contribute to the variability of this measure? Why people trust in Bitcoin?
I would like to hear from the folks in Bitcoin community, your responses are much appreciated.
* Hoff, K. A., & Bashir, M. (2015). Trust in automation: Integrating empirical evidence on factors that influence trust. Human Factors, 57(3), 407-434.
Good question! IMO: if we evaluate BTCs long term survailability, we should focus on it´s scalability issue first. No one has actually proven, BTC is scalable into being a viable currency. For me its mathematically very improbable and thats why Im a huge sceptioc of BTC. After the main question, many others would follow, but thats the main one for me. |
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EoNs_COIN
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August 27, 2018, 08:53:55 AM |
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The ability for bitcoin to rise from the scratch to its current state without been hacked, is enough to gain investors trust. Bitcoin over the years has brought tremendous growth in the crypto currency world and in the world generally today, i personally think that it deserve all the trust and support from the us... true
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dohh
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August 27, 2018, 08:59:09 AM |
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If Bitcoin gained the trust of people over years, what if there is a new system that is based in blockchain, what are the factors that will help you to trust that system?
Important side note: BTCs scalability at decentralized blockchain technology is NOT proven, mainly because its ridiculously ineffective. Actually that goes for all cryptocurrencies. |
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