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Author Topic: Why is Bitcoin in the highest level of trust?  (Read 1939 times)
Pierre Gerson
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August 06, 2021, 01:55:52 AM
 #21

Bitcoin is a currency based on blockchain technology, and blockchain technology can also be said to be a "credibility network".

1. Its code is open source, which eliminates the possibility of evil from the program level;
2. It is decentralized and eliminates the possibility of evil from the authority level;
3. It has data on the chain, transparent transactions, and truly "open and transparent".

This is also the reason why Bitcoin has a unique technology and a high degree of consensus
Kimonoe
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August 06, 2021, 07:10:34 AM
 #22

maybe this is inseparable.from bitcoin's.policy which.has a long-term and very transparent.business that.makes bitcoin able to survive for a very long time so that we are able to wait for something to be in.the business for a long period.of time
especially with a limited supply that makes it continue to grow. especially at this time there are still few who use it, what will happen if there will be many countries that legalize it ... of course that's what makes bitcoin growing, moreover, many people use it as an investment tool

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August 06, 2021, 01:06:48 PM
 #23

Probably because bitcoin doesn't have any owner or a central authority that they're following to continue it's daily market activity, maybe that's why people still believes and trusts in bitcoin more than anything else plus there's a public ledger that can't be faked or can't be manipulated.
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August 06, 2021, 01:11:21 PM
 #24

Bitcoin already have a history and its the first crypto currency in the market as that becomes most popular cryptocurrency since year 2009,  as the matter of fact It's proven and tested, so i'm not surprised that it's still have a higher level of trust unlike other crypto currency in the market, which is even now TBH that the value itself keep increasing every year, so IMO it will remain at the top of all crypto in the market and no one can take over in it as long as the adoption of bitcoin keep increasing as well.
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August 06, 2021, 01:41:14 PM
 #25

My trust comes from observation over the years. I confess I was into alts a LOT when I was new in crypto, I actually believed all the crap these projects were saying. I even paid money to invest in projects, and believed in building interoperable chains, utility tokens that would save the world with all the things you can think of in all the industries you can make up.

But Bitcoin stayed true to what it did best, which was to provide a means of sending money to anyone, for anyone. I really don't care that media and people attack this utility. Bitcoin has always been the one thing I can trust to send money. Yes sometimes high fees, but I know how to make sure I pay enough. But never network down, never network not accessible, never network blocked. Even ETH cannot say this.

I'm not joking when someone asks me which is the most reliable network to send money with the highest certainty. It's not even bank transfer or Western Union. It's Bitcoin.

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tanjiran
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August 06, 2021, 10:03:32 PM
 #26

because everyone knows that this business has such a high level of freedom that bitcoin gives to its investors.so it attracts many enthusiasts, especially beginners to invest in the crypto world, with this we are easier when we don't want to invest anymore then we can release it back on the stock market, maybe that's what makes bitcoin enthusiasts very interested in this investment
Moreover, bitcoin has existed for a decade, the history of its price development is very promising. Initially many were less trusting and ignored, as time went on bitcoin proved that it was valuable and functional. over time, it made the market confidence continue to increase, even without the transparency of the dev team. more evidence than bullshit.the more adoption of large companies that plan to accept payments with btc further increase market confidence. this is proof that btc is "safe", not as scary as it is often reported, as long as its users are willing to learn well how to protect and use their assets.

RainbowKun (OP)
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August 07, 2021, 08:36:51 AM
 #27

because everyone knows that this business has such a high level of freedom that bitcoin gives to its investors.so it attracts many enthusiasts, especially beginners to invest in the crypto world, with this we are easier when we don't want to invest anymore then we can release it back on the stock market, maybe that's what makes bitcoin enthusiasts very interested in this investment
Moreover, bitcoin has existed for a decade, the history of its price development is very promising. Initially many were less trusting and ignored, as time went on bitcoin proved that it was valuable and functional. over time, it made the market confidence continue to increase, even without the transparency of the dev team. more evidence than bullshit.the more adoption of large companies that plan to accept payments with btc further increase market confidence. this is proof that btc is "safe", not as scary as it is often reported, as long as its users are willing to learn well how to protect and use their assets.

My trust comes from observation over the years. I confess I was into alts a LOT when I was new in crypto, I actually believed all the crap these projects were saying. I even paid money to invest in projects, and believed in building interoperable chains, utility tokens that would save the world with all the things you can think of in all the industries you can make up.

But Bitcoin stayed true to what it did best, which was to provide a means of sending money to anyone, for anyone. I really don't care that media and people attack this utility. Bitcoin has always been the one thing I can trust to send money. Yes sometimes high fees, but I know how to make sure I pay enough. But never network down, never network not accessible, never network blocked. Even ETH cannot say this.

I'm not joking when someone asks me which is the most reliable network to send money with the highest certainty. It's not even bank transfer or Western Union. It's Bitcoin.

Yes, our trust in Bitcoin was not formed overnight, but slowly established after more than ten years of development. Over the past 12 years, the Bitcoin network has suffered various attacks. There is no single force that can tamper with the data of the Bitcoin network or control the Bitcoin network. The Bitcoin network is truly decentralized. This is the basis of Bitcoin trust. We believe more in Bitcoin's algorithm and consensus mechanism. We believe in mathematics and technology.


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Celin Kai
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August 07, 2021, 09:37:00 AM
 #28

In the early days of Bitcoin practitioners, everyone was talking about becoming a coin hoarding party, and their view was that they considered key information.

I think there are two core factors in the field of Bitcoin:
1. Production side
2. Transaction terminal

Combining these factors, the creditworthiness of Bitcoin is accepted and used by more and more people.
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August 07, 2021, 12:34:50 PM
 #29

In general, if you think about cryptocurrency, the first cryptocurrency name that comes first is Bitcoin. It has truly gained a reputation among its users as a high-quality trusted cryptocurrency. People trust Bitcoin the most because it is a secure and fully decentralized cryptocurrency.  Since Bitcoin cannot be controlled by any individual or organization, it will ensure that it is not manipulated by any single person or organization. Moreover, Bitcoin is a safe and secure cryptocurrency and investing in it protects the privacy of the investor which is one of the main reasons to believe in it.

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August 07, 2021, 12:56:49 PM
 #30

For the longest run, bitcoin was able to build trust from many people and it is very evident as its investors and users grows massively each day. It has a reputation that it was able to protect regardless of all the issues people throw at it and after being the top cryptocurrency from the very beginning, it was able to shut its doubters and haters and made them regret. Bitcoin is incomparable and it is without a doubt the best cryptocurrency ever made with consideration with the lives it was able to change and the success it was able to achieve.
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August 07, 2021, 03:14:13 PM
 #31

Bitcoin is a very popular cryptocurrency around the world. Today this bitcoin has been created for 11 years. But people have not been deceived by this bitcoin.However, over time, the price of Bitcoin has gone up and down a lot.As long as Bitcoin has been tried, no complaints have been heard from it.This is why I think Bitcoin is the highest level believer.
RainbowKun (OP)
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August 08, 2021, 09:36:57 AM
 #32

In general, if you think about cryptocurrency, the first cryptocurrency name that comes first is Bitcoin. It has truly gained a reputation among its users as a high-quality trusted cryptocurrency. People trust Bitcoin the most because it is a secure and fully decentralized cryptocurrency.  Since Bitcoin cannot be controlled by any individual or organization, it will ensure that it is not manipulated by any single person or organization. Moreover, Bitcoin is a safe and secure cryptocurrency and investing in it protects the privacy of the investor which is one of the main reasons to believe in it.


We can feel more and more clearly that the world's trust in Bitcoin is constantly strengthening. Most fundamentally, this is brought about by the underlying technology of Bitcoin. In the 12 years since Bitcoin was born, no force can control the Bitcoin network, and no force can tamper with the Bitcoin network. The Bitcoin network has been running smoothly for 12 years, and it is entirely based on mathematical algorithms and cryptographic knowledge. Neither individual humans nor collective humans can interfere with the Bitcoin network. This is the foundation of trust in the birth of Bitcoin.

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August 08, 2021, 09:50:29 AM
 #33

People trust and invest into Bitcoin more because one of the reasons is that Bitcoin is the oldest cryptocurrency in the market. It is special because of this reason. People believe in Bitcoin more than any other cryptocurrencies. And Bitcoin has many more usage places compared to others. Can this change in the future? Of course it can. But it is not going to be easy to dethrone Bitcoin for sure.

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August 08, 2021, 12:32:26 PM
 #34

The more I think about it, I'm convinced that it's less about "trust" and more about "peace of mind" and "certainty".  It brings people comfort to be safe in the knowledge that no one is in a position to block or reverse their transactions.  It's not something you need to worry about. 

Is it possible we are mistaking this feeling for trust?  As an analogy, we don't "trust" gravity, we just understand what it does and know that it will continue to do it.  You don't need to contemplate the likelihood that one day gravity is going to fail at what it does.  This is something stronger than trust.  It's inherent.

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August 08, 2021, 12:43:45 PM
 #35

well the outbreak wake them up on how banks actually works, just like the online shopping wake the traditional trade up to follow the online shop trend due outbreak circumstance.
circumstances thats the bottom line, banks could went tragically in bankrupt when there is no money in circulation but people getting withdraw the money from them continuously yeah no wonder they are now offering you lots of loans option.
back to the topic,  the trust itself i believe would be there as long as bitcoin price in current price position, once the normal economy is back and lots of non real bitcoin enthusiast pull their money over and the price got crashed, guess is there a strong trust like today? i doubt that so.

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August 08, 2021, 12:58:02 PM
 #36

Bitcoin is in the highest level of trust because it is the longest and pioneer of all bitcoin. It is the highest because of its value. It is the most famous coin and it has already established good reputation and referred to as digital gold. It is a good store of value. It is widely used for online transactions such as remittance, payments for purchases. It is fast, efficient and reliable coin. I believe it is the future currency.

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August 08, 2021, 01:23:23 PM
 #37

Bitcoin is known as the father of all cryptocurrencies that's why it has established a good foundation of trust from its investors. It's the pioneer and first to succeed as a digital currency. It has proven a lot and already passed all the tests of time. It's continuously proving that it's trustworthy because of its developments. It still has a lot to prove in the future for sure.
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August 08, 2021, 02:00:52 PM
 #38

I think bitcoin is considered the most trustworthy coin for a number of reasons.  One of the biggest reasons and something that I have always felt, is that there is no "central head" behind bitcoin that is around.  I am of the firm belief that Satoshi always knew that he would be leaving his bitcoin project at a certain point.  I'm not sure he knew exactly when he was going to do this, but I know he knew that not having him/figure head at the helm of bitcoin would make it "leaderless" , no one to control it etc.  This lead to a big part of bitcoins trust.  Also just that bitcoin has been around the longest, had the best Dev Team, it's blockchain has been tested unlike any other coins etc.

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August 08, 2021, 02:01:09 PM
 #39

why bitcoin gets high trust,, the reason is simple, because no third party interferes with bitcoin, the government also can't control bitcoin, bitcoin also gives us freedom of thought, as technology develops, bitcoin comes with new nuances, bitcoin is safe and reliable, yet There has never been a case of fraud committed by bitcoin..

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dificanovi
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August 08, 2021, 04:06:39 PM
 #40

bitcoin has the highest trust because the profits obtained from holding bitcoin in the long term will provide very large profits. if we make transactions then no third party will interfere in the affairs of sending bitcoins. besides that bitcoin is the first Cryptocurrency to be created, therefore the level of one's trust in bitcoin is very high.

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