Can Bitcoin be trusted?

[Nrcewker]

Bitcoin is around 14 years old and according to reports it says that users are around 170 million and active users are more than 10 million, of course this is a very large community because if combined it is equivalent to the population of major countries, bitcoin is of course trusted because until now users still feel safe store assets in bitcoin, although sometimes we hear cases of hack wallets.

These wallets gets hacked only due to the carelessness of the owners. First of all we should avoid online wallets. Never store any coins in any online wallets. Secondly many people like to store the coins in exchanges as this gonna help them to exchange the coins faster. But we have to strictly avoid these things while storing the coins. As in both cases, the coins are not completely owned by you, other entities also have access to it and hence for this reason many times, wallets are hacked.

[Semar Mesem]

I think bitcoin has a good and reliable reputation, if more and more companies and countries legalize bitcoin then they have done rigorous and long trials, many people complain about losing bitcoins, but after being asked it turns out that their mistake was saving in a web wallet that can be closed services like Xapo.

[mich]

Well I have put a lot of trust in my Bitcoin investment. It is my only investment so in many years I think I will be very happy that I did not sell any of my coins when there was a lot of fomo being spread on here and on the internet.
I do not think that Bitcoin will crash very low. But yes I am quite sure there is going to be many corrections still ahead of us. We must be patient with this and just know there are many years of profit and big gains for us who are patient.
But yes it is a good idea for your friend to join forum. If he does not want to join he can at least read up on Bitcoin. It is not for everyone but I think he will want to invest in it himself.

[asrinur]

Obviously bitcoin is very trustworthy. If someone doesn't believe in bitcoin, only sees when bitcoin crashes, it means that person doesn't understand bitcoin thoroughly. Even if people understand about the very volatile price of cryptocurrencies, they will never doubt bitcoin. As we know that bitcoin often crashes and bitcoin can survive and recover from crashes.

[Wend]

Bitcoin is around 14 years old and according to reports it says that users are around 170 million and active users are more than 10 million, of course this is a very large community because if combined it is equivalent to the population of major countries, bitcoin is of course trusted because until now users still feel safe store assets in bitcoin, although sometimes we hear cases of hack wallets.

These wallets gets hacked only due to the carelessness of the owners. First of all we should avoid online wallets. Never store any coins in any online wallets. Secondly many people like to store the coins in exchanges as this gonna help them to exchange the coins faster. But we have to strictly avoid these things while storing the coins. As in both cases, the coins are not completely owned by you, other entities also have access to it and hence for this reason many times, wallets are hacked.

We should stay away from centralized exchange wallets completely if we don't want our bitcoins to be lost for no reason. Hardware wallets are the best, but if you cannot own them, a non-custodial wallet like Electrum is a good option. I have been using Electrum for 5 years and have had no problems. So the hack was caused by our carelessness and not by using an online wallet. The safety of our property depends on how we use and care for it.

[Lantind]

Obviously bitcoin is very trustworthy. If someone doesn't believe in bitcoin, only sees when bitcoin crashes, it means that person doesn't understand bitcoin thoroughly. Even if people understand about the very volatile price of cryptocurrencies, they will never doubt bitcoin. As we know that bitcoin often crashes and bitcoin can survive and recover from crashes.

Bitcoin has been developing for a very long time, it's no wonder that people have put their trust in Bitcoin, so far Bitcoin has always proven that bitcoin is in great demand and the level of popularity is increasing day by day, from several other aspects it is convincing that Bitcoin is very trusted by many person.

[WillyAp]

Bitcoin has been developing for a very long time, it's no wonder that people have put their trust in Bitcoin, so far Bitcoin has always proven that bitcoin is in great demand and the level of popularity is increasing day by day, from several other aspects it is convincing that Bitcoin is very trusted by many person.

Those coins are hardly to blame. It's the people handling them, Bitcoin and a few other decentral coins are not manageable. Coins like Luna is a different ballgame.

[DeathAngel]

Short term price fluctuations do not indicate a level of trust as you ask OP. If you mean, can you rely on bitcoin as a store of value which will beat inflation over years & likely rapidly increase in $ perceived value over years then I would say yes.

Price fluctuations are very much still part of bitcoin. It is not a stable coin, there are times when we see wild swings in both directions. Your money is definitely going to do well invested in bitcoin though so in that sense, yes you can trust bitcoin.

[Franctoshi]

A friend of mine came to me and we were having a conversation and I was trying to introduce he to the forum,but he turns out that I was asked if I really trust and believe in bitcoin it will never crash like other cypto industry.

I want know if it will not crash and I need help to convince him about it that it will not crash because am a beginner and I haven't know much about bitcoin so I guess been here I will fine help to assist my friend to join the forum.

Bitcoin has been in existence since 2009 when it was first created by Satoshi Nakamato and co, if you check 2009 till date 2023 is roughly 14 years of Bitcoin's existence, at least a good number of years to consider being successful. Too the fact that no one person or Government control Bitcoin, it's truly decentralized which makes secured. No one can print more than 21 Million Bitcoin as it's currently not own by Government who has money printing machines to print more Bitcoin, though Bitcoin's technology is only made to be digital.

However, no one beholds the future to know what will exactly happen in the future, but with evidence on ground as regards to the performance and transparency in the system, I do think that Bitcoin has come to stay.

[Baoo]

To be begin with, I highly encourage you OP and your friend to learn about Bitcoin and  generally Cryptocurrencies also try to check the history of BTC since 2009 after that you will definitely realize in your own if It can be trusted or not. In addition to that, it is been 14 years since Bitcoin on top of Cryptocurrencies despite the attempts from countries. In fact, It has faced a plenty of crashes the most important ones happened in 2018 during Corona virus and in 2021 when FTX collapsed. In conclusion, the crashes are always existing since Bitcoin is not recognized by most of governments and it is pretty certain that they will try again and gain to break it down but as long as the community of this digital coin is progressing and Bitcoin is secured, nothing and no one actually will end Bitcoin’s existence.

[Rasa nanas]

what does it mean to crash like other crypto? bitcoin is the most popular crypto, if bitcoin crashes it is certain that all the crypto industry will crash. the point is like this, don't equate bitcoin with altcoins especially with new altcoins which in fact many new projects fail.
don't trust bitcoins? it's the same as not trust in the crypto industry !

[19Nov16]

Bitcoin's main strength is the support of the global community which is very strong, of course many of these communities have tested bitcoin's security, with a private key of around 53 characters it is almost impossible for anyone to guess, hack cases that have occurred are usually because computers or smartphones are exposed to malware so all data can be stolen.

[Texac]

don't trust bitcoins? it's the same as not trust in the crypto industry !

Exactly.  bitcoin is the most trusted coin in this market, if even we don't trust bitcoin, we shouldn't trust this whole industry.  when comparing bitcoin to physical assets like gold and real estate, it is true that bitcoin is riskier.  but in return, bitcoin is risky, but the return will also be higher than other safe assets.  So investing in bitcoin is very fair, if you can accept the risk, you will get the reward you deserve.

[bangjoe]

Bitcoin's main strength is the support of the global community which is very strong, of course many of these communities have tested bitcoin's security, with a private key of around 53 characters it is almost impossible for anyone to guess, hack cases that have occurred are usually because computers or smartphones are exposed to malware so all data can be stolen.

Yes that's true, Bitcoin is very trusted because the community owned by Bitcoin is very large and the solidarity of its communities cannot be doubted anymore, it is one of the powers of Bitcoin can stand and develop until now. Hack cases only occur in those who are negligent in storing their seed phrase or they do transactions in which there is a trap to be able to enter our wallet, so far no one can attack the Bitcoin network, because of that Bitcoin has become a king in the market.

don't trust bitcoins? it's the same as not trust in the crypto industry !

Exactly.  bitcoin is the most trusted coin in this market, if even we don't trust bitcoin, we shouldn't trust this whole industry.  when comparing bitcoin to physical assets like gold and real estate, it is true that bitcoin is riskier.  but in return, bitcoin is risky, but the return will also be higher than other safe assets.  So investing in bitcoin is very fair, if you can accept the risk, you will get the reward you deserve.

The big return of the risks is also the right word in this Intustry, the Bitcoin market is experiencing extreme volatility compared to other assets outside of crypto and therefore it is said to be bitcoin as a risk asset, but as far as you study bitcoin to this day, a little doubt There must be a decline due to crash several Crypto Exchange platforms that manage large funds, but it should be remembered that it is not bitcoin but service providers such as FTX exchange, or Altcoin like Terra Luna.

[fzkto]

Bitcoin's main strength is the support of the global community which is very strong, of course many of these communities have tested bitcoin's security, with a private key of around 53 characters it is almost impossible for anyone to guess, hack cases that have occurred are usually because computers or smartphones are exposed to malware so all data can be stolen.

I think bitcoin's main strength is that it is an algorithm built on encryption. So you don't need to trust bitcoin as some other person, you need to trust an algorithm that is independent of third parties. This algorithm will work no matter what, even if the internet goes down in one or more countries, the system will still work. Your country's banking system, for example, will not be able to give you such guarantees. Another issue is the volatility of the price, but bitcoin does not get better or worse from that.

[BobK71]

Obviously bitcoin is very trustworthy. If someone doesn't believe in bitcoin, only sees when bitcoin crashes, it means that person doesn't understand bitcoin thoroughly. Even if people understand about the very volatile price of cryptocurrencies, they will never doubt bitcoin. As we know that bitcoin often crashes and bitcoin can survive and recover from crashes.

Yes, Bitcoin is a very volatile currency and those who don't understand this issue the holders of Bitcoin will lose it after a long period of time. An investors should be understood first. A bullish movement can be followed by a correction in Bitcoin price which is normal. Sometimes Bitcoin price can be dumped without any reason. There is no room to be upset here either. A Bitcoin holder should have a good idea about its dynamic nature. Otherwise it won't be easy for those holders to get the expected returns from Bitcoin in the long run.

[mamesso]

A friend of mine came to me and we were having a conversation and I was trying to introduce he to the forum,but he turns out that I was asked if I really trust and believe in bitcoin it will never crash like other cypto industry.

I want know if it will not crash and I need help to convince him about it that it will not crash because am a beginner and I haven't know much about bitcoin so I guess been here I will fine help to assist my friend to join the forum.

Bitcoin will Crash, but Crash won't make Bitcoin die. What I know is that big crashes have happened to Bitcoin twice, but what happened, Bitcoin is still alive and always gives new hope to investors. Crash are only limited to unfavorable conditions for investors who buy Bitcoin at high prices, but for investors who want to get several times the profit will take advantage of crash conditions to collect as much Bitcoin as they can afford.
Tell your friends, there is no investment media that does not have the risk of loss. If you want to introduce BTT and Bitcoin Forums to your friends, the first step you should take is to be able to convince him of the knowledge you have and the results you get from investing in Bitcoin.

[ancafe]

A friend of mine came to me and we were having a conversation and I was trying to introduce he to the forum,but he turns out that I was asked if I really trust and believe in bitcoin it will never crash like other cypto industry.

I can imagine you trying to give your friend positive arguments for bitcoin in conversation and I also make sure he is not so sure about going through with it.

If Crash is meant by the rise and fall of the price of bitcoin, we often see it along the way. Even though severe corrections often occur in bitcoin travel, what distinguishes bitcoin from the others is that there is always a recovery moment and returns to strengthen at a higher price, also known as ATH.

I want know if it will not crash and I need help to convince him about it that it will not crash because am a beginner and I haven't know much about bitcoin so I guess been here I will fine help to assist my friend to join the forum.

Stop convincing anyone to invest in bitcoin, without giving us an understanding that bitcoin will still be one of the best that ever existed. However, if you intend to provide an understanding, then the steps you need to provide regarding risk and price fluctuations, let them try to learn this first.

Because the most important thing is not convincing them to invest, but they have a pattern to avoid the risk of price fluctuations when bitcoin is in a severe correction stage in the market.

[Negotiation]

Bitcoin has been around for over a decade now and is only getting more popular with time. Along with this, the value of Bitcoin has also increased rapidly in the past few years, which means that people are now willing to invest in bitcoin more than ever before. Even if you hear about bitcoin being hacked, using a strong wallet makes it less likely. This wallet has a private key for security which corresponds to the wallet address. Bitcoin wallets are available in desktop, web, mobile and hardware types therefore the private key will not be shared with anyone.

[beerlover]

Bitcoin has been around for over a decade now and is only getting more popular with time. Along with this, the value of Bitcoin has also increased rapidly in the past few years, which means that people are now willing to invest in bitcoin more than ever before. Even if you hear about bitcoin being hacked, using a strong wallet makes it less likely. This wallet has a private key for security which corresponds to the wallet address. Bitcoin wallets are available in desktop, web, mobile and hardware types therefore the private key will not be shared with anyone.

I feel like its going to grow to a point where people will not ask this. However, lets remember that majority of the world uses dollars and some people still do not trust dollars neither, which happens and we just need to accept the fact that some stuff are just not that easy to handle.

It is not going to be easy for anyone to just do this kind of stuff that easily, it may take a while and it may take a long while as well so it could end up with something major for bitcoin not to be trusted, but with time it will be, we just have to learn how to live with that. I know that not many people trust it right now, and many do, there are tens of millions of people who love it, but there are tons of people who do not like it as well, with time that will get lesser.