Why do You Trust Bitcoin

[Lethn]

. It's Open Source ( This is the main point for me )

. Blockchain is public

. It follows a form of mathematically based logic

. It actually works

. No personal information is data farmed through the transactions by third parties looking to spy on you

[franky1]

Why do You Trust Bitcoin
If you don't know who created it or why it was created?

This literally makes no sense.
Wtf do I care what inks, chemical content or patents are used. As long as it's not fake I can use it.

if you dont know how bank notes were created what inks were used or all the security features how can you truly trust that a bank note is not fake.

bitcoin is fully open and all possible answers to how its made, who made it, who continues to make it, all the security features, bla bla blah.. all questions can be answered in bitcoin, but not bank notes.

so thats why i left the question. why trust bank notes knowing bank notes have less answered questions?

the answer of course is that once you learn about bitcoin you instantly trust it more than bank notes.
i wasnt trying to troll or poke an argument. i was trying to be subtle about bitcoin being more trusting than banknotes. but only you can learn that by you learning the beauty of bitcoin.

[bitcoinbot]

Why do You Trust Bitcoin
If you don't know who created it or why it was created?

This literally makes no sense.
Wtf do I care what inks, chemical content or patents are used. As long as it's not fake I can use it.

if you dont know how bank notes were created what inks were used or all the security features how can you truly trust that a bank note is not fake.

bitcoin is fully open and all possible answers to how its made, who made it, who continues to make it, all the security features, bla bla blah.. all questions can be answered in bitcoin, but not bank notes.

so thats why i left the question. why trust bank notes knowing bank notes have less answered questions?

the answer of course is that once you learn about bitcoin you instantly trust it more than bank notes.
i wasnt trying to troll or poke an argument. i was trying to be subtle about bitcoin being more trusting than banknotes. but only you can learn that by you learning the beauty of bitcoin.

I believe I already know the value of bitcoin

[franky1]

your OP message was wrote as if you didnt know that bitcoin was open, checkable, etc.

oh well atleast you know now. and have the answer to your question in the first post

have a good day

[mskryxz]

If you don't know who created it or why it was created?

1.you cannot tell me the machine model numbers of the federal mint
2.you cannot tell me the ALL security features of a bank note
3.you cannot tell me the licence/patent details of the cotton paper or ink
4.you cannot tell me chemical content of the paper and ink
5.you cannot tell me the exact figure of fractional reserve right now
6.you cannot tell me what the total number of bank notes will exist in circulation in 20 years
7.you cannot tell me the name of the artists that drew/designed the latest bank notes.
8.you cannot tell me that if you stored $1million in a bank account. that you would be happy leaving it there (knowing only $250k is insured)
9.you cannot tell me if your local bank will still exist in 20 years.
10.you cannot have a conversation with the inventors and innovators of bank notes.

so why do you trust bank notes??

but with bitcoin

1. avalon, terrahash, etc
2. sha256, eliptic curve, decentralisation, difficulty
3. mit open licence
4. sha256, eliptic curve, asics. (sourcecode is fully open to read every line and detail.)
5. zero
6. 20million
7. satoshi originally, now gavin andressen, jeff garzik, etc
8. if its on a address associated to a privkey only i have, it will be there for as long as only i have it.
9. privkeys dont need banks/online wallet services/exchanges
10. anyone can talk to gavin, jeff and the rest of the bitcoin team.

I like!

[redhawk979]

Because only 21 million coins can be created, preventing people from making more coins.

Except that one time.

[Beliathon]

because I trust math more than I trust people.

This.

Fiat is latin for "faith"

I'm an atheist. To me, faith is folly, a tired remnant from the bronze age. I prefer reason and logic; observation and deduction.

"The crash in 2008 initiated a growing gap between rich and poor, and between unreality and reality. The regulated economy ensures illusory stability, predictability and false manifestations of wealth, leveraged against the future. The real economy, accounting for all factors, is a very different thing from the regulated economy, which only acknowledges desired parts of the economic picture. When confidence in the illusion dissolves, an apparatus of political and social control is necessary to keep the system grinding forward in a way that we want it to: it must follow an artificially-propelled arrow of progress, with growth and profit moving ever upwards (well, moving upwards 80 per cent of the time, until another crash hits). The recession jarred that pre-engineered momentum; it dismantled the future many were promised, marketed in mass culture and the popular entertainment industries. The Great Recession told us: no matter how many tales you were told, the future of your dreams will never arrive. The crisis marked a moment, so to speak, of atheism about the future."

http://historiesofthingstocome.blogspot.com/2014/07/bitcoin-economy-of-eternal-now.html

[ticoti]

I trust it because of its community and enviroment.
many people have a really high confidence in this technology.
and that is because it is a really good technology
but we need some changes in bitcoin,however there is no hurry to make that changes,they will be coming with time

[Buffer Overflow]

I trust bitcoin because i can change it for true money when i want.

I have sold like 1.4 Bitcoins now, and at last its true money. That is why you can trust on it.

What is this "true money" you speak of?

[franky1]

I trust bitcoin because i can change it for true money when i want.

I have sold like 1.4 Bitcoins now, and at last its true money. That is why you can trust on it.

What is "true money"?

a bank note is not true money.
imagine a bank note like a cheque(check). its purely a promise to pay. its paper, no real value. now imagine you hand someone a cheque, (secretly you know its going to bounce but the other person does not).
the recipient doesnt pt it in the bank, they hand it to a "cheque cashier" or a "payday loan" company who hold it.
that company use that cheque as a 'asset measure' to generate more funds.

at some point someone WILL realise that the cheque will bounce. and that leaves the final recipint in debt.

now look at the 'government debt' which the government is saying is the 'peoples debt'. and you will see that my scenario (replacing cheques to represent bank notes) has already occurred.

you cant bounce a bitcoin without someone quickly seeing its not confirmed, making bitcoin true money in comparison to bank notes

[Envrin]

Why do You Trust Bitcoin

Simple.  Because I trust myself more than the govt or banks.  It's my money, and it's nobody else's business how much I have, how much I make, or where I spend it.  I don't like the idea of every financial transaction I've ever made being on record, and available to a dozen or so entities.  Not to mention having my entire savings in the line of fire, and capable of being seized at the whim of an official.  I also don't like having to basically ask permission from the bank to spend my own money, or send money to another account, etc.  With bitcoin, if I want to move to another country, I can do just that without worrying about how to transfer my money over to my new home.

Thanks, but no thanks.  With bitcoin, all I have to worry about is hackers, which isn't difficult if you know what you're doing.  

[BitCoinNutJob]

If you don't know who created it or why it was created?

Its open source so the creator doesnt matter as was previously stated but beyond that i trust it because of no single point of failure so its very efficient vs having humans operate a system "directly".

[tss]

ahh yes.. the math...  i can suffer until all the early and nefarious coins are distributed and real acceptance occurs.

[frankenmint]

Why do You Trust Bitcoin

Simple.  Because I trust myself more than the govt or banks.  It's my money, and it's nobody else's business how much I have, how much I make, or where I spend it.  I don't like the idea of every financial transaction I've ever made being on record, and available to a dozen or so entities.  Not to mention having my entire savings in the line of fire, and capable of being seized at the whim of an official.  I also don't like having to basically ask permission from the bank to spend my own money, or send money to another account, etc.  With bitcoin, if I want to move to another country, I can do just that without worrying about how to transfer my money over to my new home.

Thanks, but no thanks.  With bitcoin, all I have to worry about is hackers, which isn't difficult if you know what you're doing.  

In my case I only need to worry about things like damaging my computer or destroying my paper wallets (somewhat concerning too)

[RaXmOuSe]

Because Fiat is failure and debts interest killing it. I think a alternative, such as this open source project, will be the future when things hit the fan.

[chenka563]

no other reason,only dissatisfaction with reality.

[Agestorzrxx]

I think the bitcoin is a great invention.

[coa032]

Because I can send money via BTC to my parents from one country to another, because there's limited number of bitcoins out there, because it is open source, decentralized, and because it will make us rich.

[bitbaby]

I trust it because it works. I control my own funds and don't have to rely on government to keep them safe for me.

[wadili89]

If you don't know who created it or why it was created?

It doesnt matter. The code is there available publicly and the majority has been rewritten or newly added.

Nobody controls it and its used as the majority decdes to use so th epupose for which it was created is irrelevant.