Can Bitcoin be trusted?

[Doan9269]

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.

What's the reason you want to introduce your friend to Forum and bitcoin despite the resistance? It's not a must to force anyone into what you're doing. Investing in bitcoin is by choice and not coercion. The only role you have to play in that regard is to offer them explanation on how it works and the risk involved as well and that's only if they interested in such conversation again. Do not go about telling people you are bitcoin investor as it's not fully legalized in all countries.

Again, you're not in a referral contest. Do not compel anyone to register on the forum against their wish. Besides, one can visit the forum as a guest and have access to read everything here with the exemption of offering their own opinions.

We have to act our own part kn trying to introduce this forum to some but immediately we see that it's becoming something else beyond we planned for then we should avoid going further, after one would have talked alot about bitcoin to them, it's also something that they should be left alone to have time to rethink about it and look into it more closely by making their personal research as an addition efforts not to fall hands of scammers, you can't force a person when he's yet to be determined for bitcoin adoption, except they show interest for tou to push forward.

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[bestcoins1]

I agree with what has been said and make a few additions. The fact that Bitcoin has survived to the present day is an element of trust in itself. To trust bitcoin, we just need to look at all the stages bitcoin goes through.

Besides having to see the stages that Bitcoin has gone through, everyone also needs to see how the level of public trust in Bitcoin every year. Because it is also about the development of Bitcoin from year to year and can also have an impact on increasing prices if every year the enthusiasts for Bitcoin always increase and they also make purchases on Bitcoin.

The fact that institutions and governments buy and hold bitcoin for a long time is also an effect of reliance on bitcoin. In recent years, making payments with bitcoin is one of these factors. All in all, there are many reasons to trust bitcoin.

That's certainly a factor, but I'd prefer to see a lot of companies with well-known products willing to accept Bitcoin for payment. So that this can also be a direct promotion for Bitcoin because products from companies that are well-known are definitely more widely used by the public, so many people will also see firsthand that the companies from the products they buy also want to serve payments via Bitcoin. And it is also a very good effect for the use of Bitcoin which will probably continue to expand.

[ZAINmalik75]

It is true that bitcoin is not likely to be a scam like other altcoins but there is no guarantee that it could be a major crash as we have seen a major crash in 2017 and later in 2018 when bitcoin dropped from $20000 to $3200.  But it didn't last long as Bitcoin once again crossed $68k but crashed again to $15k and the present rate is $24k. this is how Bitcoin sometimes undergoes major corrections.

Basically, most of the people from all around the world are familiar with fiat currency and Stocks market where the dump percentage in price were quite low compared to cryptocurrency so that's why when they observe or face a Bitcoin dump with a percentage of 60% to 80% in price, they taught it's gonna be scam as because in stock there is no such kind of big dump and where ever it happen it indicates of bankruptcy, but in cryptocurrency it's totally opposite, we face a lot of big dump but Bitcoin recover it and make new ATH too,

so that why it's difficult for any person to believe in Bitcoin if he is not familiar with Bitcoin or if he hasn't researched about Bitcoin price history, currently most of the people revert to Bitcoin because of the number of profit which people earn. While still a lot of people call Bitcoin a scam because they are not aware of the potential.

[Freddie Boyer]

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.

Well, what do you think now fully believe or re-observation. I think, your friend is smart, that way your curiosity will arise and a desire will be born to know more and more deeply about the performance of the market, especially BTC. What is certain is that you need to remember that the crypto market is volatile and can happen at any time and turn green quickly.

[Kadal Ijo]

Hack cases that have occurred are of course small things which are usually because someone doesn't care about the security system, with the 52 characters in the bitcoin private key it can be said to be very difficult to guess, this is what makes many people have no doubts about the bitcoin security system.

[Ricardo11]

You can trust Bitcoin. Although Bitcoin suffered two major crashes in 2018 and 2021, but it is no longer in danger. Because Bitcoin is now on a growth path. And Bitcoin experts believe that there is a high possibility that Bitcoin will become the next ATH between 2024 and 2025. Although the value of Bitcoin is variable, at any time the value of Bitcoin increases or decreases. Yet there is a high possibility that Bitcoin price will turn into the next ATH. And you can now trust Bitcoin.

[Bitcoin_people]

Since you have been associated with cryptocurrency for the past few years and have at least some knowledge about Bitcoin. So when your friend asks you to talk about Bitcoin, be sure to bring up Bitcoin's past and future. We all know very well what Bitcoin's past was like and how Bitcoin's popularity has manifested itself today. Those of us who have been working with this forum for a long time are dependent and believers in Bitcoin. We believe in Bitcoin more than anything else, and Bitcoin can be trusted with the blink of an eye. Currently, we have seen many researchers research that they will prefer Bitcoin over paper money in the future. and considering all aspects of Bitcoin it has a bright future as people have been able to change their lives by investing in Bitcoin. And if we invest in Bitcoin and leave it for the future, we will definitely be in a better position. So I would like to tell you that you can safely tell your friend that Bitcoin is a currency that can be trusted blindly and held as an asset for the future.

[itorai]

I'm personally long-term bullish on bitcoin, but there's no guarantees with bitcoin going up and there's no guarantees with literally anything concerning markets. With investing, you just need to weigh in the risks/reward ratio to determine if something is worth investing in.

Very wise opinion, I agree with you (consider the risk/reward ratio to determine if something is worth investing in.). I like the policy you made, I think even though I am optimistic about BTC, I am always careful because the crypto market is very volatile.

[EarnOnVictor]

It is true that bitcoin is not likely to be a scam like other altcoins but there is no guarantee that it could be a major crash as we have seen a major crash in 2017 and later in 2018 when bitcoin dropped from $20000 to $3200.  But it didn't last long as Bitcoin once again crossed $68k but crashed again to $15k and the present rate is $24k. this is how Bitcoin sometimes undergoes major corrections.

Basically, most of the people from all around the world are familiar with fiat currency and Stocks market where the dump percentage in price were quite low compared to cryptocurrency so that's why when they observe or face a Bitcoin dump with a percentage of 60% to 80% in price, they taught it's gonna be scam as because in stock there is no such kind of big dump and where ever it happen it indicates of bankruptcy, but in cryptocurrency it's totally opposite, we face a lot of big dump but Bitcoin recover it and make new ATH too,

so that why it's difficult for any person to believe in Bitcoin if he is not familiar with Bitcoin or if he hasn't researched about Bitcoin price history, currently most of the people revert to Bitcoin because of the number of profit which people earn. While still a lot of people call Bitcoin a scam because they are not aware of the potential.

You have a point there, the rate at which Bitcoin could buy to reach an ATH and also sell back dangerously could be very scary and discouraging. But that is to the unprofessional people that just dabble into it and it's a very good reason why you need to understand the market you are dealing with before committing your money. Bitcoin is an asset that anyone dealing with it has to fully understand its season, there are bullish and bearish seasons in it. Not that it won't be falling and buying intermittently like any other market but there are major times of the bullish season and the same goes for the bearish season. From what I noticed, the long-term bearish season of Bitcoin where it might be playing almost dead is more than the bullish season where people will start pumping it due to FOMO just like what we see now. Regardless, this shouldn't cause panic if the person is a true trader/investor, they should rather analyze the coin well to know where to buy and when to liquidate their position properly.

Nonetheless, what I believe that scares people most about Bitcoin is that there is nothing backing it as an asset. The only thing backing Bitcoin now is people's money, nothing valuable as a substitute that people could fall back on in case of unforecastable circumstances. But the real enthusiasts dealing with it do not care mainly because of the blockchain technology of the coin, the decentralization and the privacy issue it's being solved for them.

[AnonBitCoiner]

You can trust Bitcoin. Although Bitcoin suffered two major crashes in 2018 and 2021, but it is no longer in danger. Because Bitcoin is now on a growth path. And Bitcoin experts believe that there is a high possibility that Bitcoin will become the next ATH between 2024 and 2025. Although the value of Bitcoin is variable, at any time the value of Bitcoin increases or decreases. Yet there is a high possibility that Bitcoin price will turn into the next ATH. And you can now trust Bitcoin.

Bitcoin faced huge crashes in previous years but if someone considered that crashes as a lucky part for them so that was an opportunity for them to make investment. But those who don't buy any bitcoin that time due to lack of education of bitcoin halving they missed a great chance because buyer of that time will get large sum of money in 2024. Bitcoin value is variable but due to this variable characteristics people are often using it as an investment because such ups and downs make everyone wealthy if they focus on appropriate timing through appropriate research. Keep in mind that crashes are for sometimes so take benefits from it instead of considering it a worse part of crypto

[flyingcarpet]

You can trust Bitcoin. Although Bitcoin suffered two major crashes in 2018 and 2021, but it is no longer in danger. Because Bitcoin is now on a growth path. And Bitcoin experts believe that there is a high possibility that Bitcoin will become the next ATH between 2024 and 2025. Although the value of Bitcoin is variable, at any time the value of Bitcoin increases or decreases. Yet there is a high possibility that Bitcoin price will turn into the next ATH. And you can now trust Bitcoin.

Bitcoin faced huge crashes in previous years but if someone considered that crashes as a lucky part for them so that was an opportunity for them to make investment. But those who don't buy any bitcoin that time due to lack of education of bitcoin halving they missed a great chance because buyer of that time will get large sum of money in 2024. Bitcoin value is variable but due to this variable characteristics people are often using it as an investment because such ups and downs make everyone wealthy if they focus on appropriate timing through appropriate research. Keep in mind that crashes are for sometimes so take benefits from it instead of considering it a worse part of crypto

Ups and downs in prices always provide opportunities for investors. This situation happens frequently with Bitcoin. Bitcoin cycles have provided huge returns to those who take advantage of the opportunities during these cycle periods. Bitcoin investors trust Bitcoin because Bitcoin has not misled its investors before.

Those who want to make a profit in the short term may lose money in Bitcoin. This depends on the time period in which they invest, but in the long term, Bitcoin has always made its investors profitable.

[Nrcewker]

I'm personally long-term bullish on bitcoin, but there's no guarantees with bitcoin going up and there's no guarantees with literally anything concerning markets. With investing, you just need to weigh in the risks/reward ratio to determine if something is worth investing in.

Very wise opinion, I agree with you (consider the risk/reward ratio to determine if something is worth investing in.). I like the policy you made, I think even though I am optimistic about BTC, I am always careful because the crypto market is very volatile.

You need to make your fundamentals straight and clear. We have the information that Bitcoins are limited in number. We also know that, out of 10 men, 5 at least know about Bitcoins, which proves that Bitcoins are popular as well. Now, when something is popular and fixed in number, what are the chances that when time passes, it will become very valuable? So forget about the risk and buy as many coins as you can in this affordable range. Once bitcoins cross the 60–70k USD mark, it won’t stop. Risk is always present in each and every type of investment. So in the case of bitcoins, just overlook it.

[arufox]

To me, bitcoin can be trusted. There are several factors why I have confidence in Bitcoin due to its proven level of stability, such as a strong history of performance, wide adoption by large companies, decentralized blockchain technology, and set supply limits.

And over time, you may also have experienced amazing things besides what you mentioned with Bitcoin. Because someone who has experienced big profits will also continue to believe in Bitcoin even though he doesn't know everything about the blockchain technology that is in Bitcoin, but if we talk in a more general direction I think many people's trust in Bitcoin is due to encouragement from themselves themselves as well as encouragement from the large corporations.

Which companies also want to use Bitcoin and want to accept it as payment for the products that are with them (the company). And now the adoption of Bitcoin continues to expand among the public as well as on corporate parties too, because maybe they have seen how a country that has started to progress after adopting Bitcoin in recent years. Close examples are El-Salvador and the Central African Republic.

Correct. I agree with you that sometimes people believe in Bitcoin after they have made huge profits even though they don't fully understand cryptocurrencies. However, most of them believe in bitcoin because bitcoin can earn money without having to work hard and also many people don't care how many big companies adopt bitcoin they only think about how fast they can make money from bitcoin.

[Aanuoluwatofunmi]

sometimes people believe in Bitcoin after they have made huge profits even though they don't fully understand cryptocurrencies. However, most of them believe in bitcoin because bitcoin can earn money without having to work hard and also many people don't care how many big companies adopt bitcoin they only think about how fast they can make money from bitcoin.

How much are we going to like bitcoin even when we are not making any profit yet from what we have invested, how committed are we going to go about the network even if we already have a past record of losses in our previous investments made online, bitcoin renders equal opportunity towards everyone, do we actually trust in this or we believe it's been manipulated against us for other's sake or benefits.

[EluguHcman]

In the first place you must be knowledgeable in the Bitcoin industry if or before you must try to talk to someone or bringing someone up to the industry.
You can't give what you don't have and it should be believed that you must have got your conscience cleared and mind made up about Bitcoin which built your confidence in the Bitcoin.
Don't you think even if after you goes back to that of your and clear his doubts out he may feel something untrust because you couldn't sort yourself out at when expected?
Well, you don't take out of excitements and talk to anyone about what you can't be defended or give a confidential stories of believe ability about.

However, Bitcoin has come to stay  but with the nature of its decentralization and regularities, a 100% faith is not worth leaning on it but more solid, concrete and sealed entrusted over every other crypto coins which are flexible and fragile to give up to crashing.

[GreenStox]

You feel you are a beginner but you have the courage to convince other people of things you don't fully know, it seems like you are careless, BTC is indeed a good asset but if you don't know much about it you can learn about it first then tell your friends.

[Manlikefrank1]

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.

When you want to know a quality product you need to how long with it consistently and Historical Performance: A Decade of Remarkable Gains. Investors often seek assets with a history of robust performance, and Bitcoin doesn't disappoint.so he should know the value been in the game for long and consistently in the market

[dderekwalcott]

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.

I'm sharing my insights and perspective after reviewing some of the initial discussions regarding the possibility of a Bitcoin crash.
Bitcoin, considered the pioneer of cryptocurrency in my opinion, actually possesses unique characteristics that set it apart from other digital assets in the cryptocurrency space.Its decentralized nature, limited supply and growing adoption contribute to its resilience and long-term viability.While it is true that Bitcoin has experienced crashes and corrections throughout its history, including significant downturns in previous years, it is essential to recognize its remarkable ability to recover and continue its upward trajectory. Despite the challenges and obstacles faced, Bitcoin has consistently demonstrated resilience and overcome various adversities, ultimately reaffirming its position as a leading digital asset.Comparing Bitcoin with other cryptocurrencies it becomes clear that Bitcoin has a different track record. With a history spanning over a decade, Bitcoin has weathered multiple market cycles proving its stability and resilience.
In essence, Bitcoin has established itself as a resilient and stable asset, able to withstand market volatility and uncertainty.

[CageMabok]

You feel you are a beginner but you have the courage to convince other people of things you don't fully know, it seems like you are careless, BTC is indeed a good asset but if you don't know much about it you can learn about it first then tell your friends.

In fact, we also need to see first whether what is being done is only to convince someone about the goodness of Bitcoin without inviting them to immediately buy Bitcoin before they have a sufficient level of knowledge. Because if you just want to tell someone about Bitcoin, I think this is still in the normal category and isn't wrong as long as you don't force them to buy it straight away.

Even though the person telling you this would certainly be better to have complete knowledge about Bitcoin so that the person being convinced can make a decision to believe the person who told them that. But as long as someone doesn't force other people to believe in Bitcoin, I don't think there is any mistake made by that person because in the end it all boils down to each person's thoughts and beliefs about Bitcoin.

[martinex]

That's certainly a factor, but I'd prefer to see a lot of companies with well-known products willing to accept Bitcoin for payment. So that this can also be a direct promotion for Bitcoin because products from companies that are well-known are definitely more widely used by the public, so many people will also see firsthand that the companies from the products they buy also want to serve payments via Bitcoin. And it is also a very good effect for the use of Bitcoin which will probably continue to expand.

Yes. if they have received it indirectly the demand for BTC will increase and this will also become something that will be familiar to the public in the future when carrying out transactions even in other places at other times and places when they shop and there are payment options available that allow them to be paid using BTC . If BTC adoption is evenly distributed everywhere, it will be even easier.