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vssa (OP)
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June 26, 2012, 07:36:13 PM |
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Why do you trust BTC in one sentence  |
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enmaku
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June 26, 2012, 07:39:26 PM |
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Bitcoin isn't run by people, who can be corrupted, bribed etc - it's run by math.
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Tomek
Newbie
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Activity: 4
Merit: 0
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June 26, 2012, 07:40:40 PM |
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Math.
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Matthew N. Wright
Untrustworthy
Hero Member
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Activity: 588
Merit: 500
Hero VIP ultra official trusted super staff puppet
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June 26, 2012, 07:41:45 PM
Last edit: June 26, 2012, 07:52:55 PM by Matthew N. Wright |
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Free competition.
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nimda
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June 26, 2012, 07:46:40 PM |
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imsaguy
General failure and former
VIP
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Activity: 574
Merit: 500
Don't send me a pm unless you gpg encrypt it.
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June 26, 2012, 07:47:00 PM |
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B00bies.
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Raize
Donator
Legendary
Offline
Activity: 1419
Merit: 1015
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June 26, 2012, 07:53:07 PM |
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"Democracy" has been gamed to death, long live the blockchain!
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gregwedow
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Activity: 9
Merit: 0
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June 26, 2012, 08:00:46 PM |
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Humans are flawed, math is pure.
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knight22
Legendary
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Activity: 1372
Merit: 1000
--------------->¿?
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June 26, 2012, 08:25:45 PM |
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cryptomancy and free market
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Wekkel
Legendary
Offline
Activity: 3108
Merit: 1531
yes
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June 26, 2012, 08:29:53 PM |
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Voluntary decentralized non-human controlled currency backed by people.
It's got everything that fiat-money doesn't have:
*centralized
*mandatory (for taxes)
*human-controlled (central banks, politics)
*backed by decree
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knight22
Legendary
Offline
Activity: 1372
Merit: 1000
--------------->¿?
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June 26, 2012, 08:31:19 PM |
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Not created out of thin air like actual bank currencies.
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vssa (OP)
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June 26, 2012, 09:55:11 PM |
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If we want bitcoin to be popular we need a much wider set of reasons about why you trust bitcoin in one sentence we need the small details map that leading to the main reasons. So Why do you trust bitcoin in one sentence. |
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MoonShadow
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Activity: 1708
Merit: 1010
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June 26, 2012, 10:00:39 PM |
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I've read the white paper and know how it works.
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"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."
- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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edd
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Activity: 1414
Merit: 1002
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June 26, 2012, 10:04:50 PM |
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Not only does Bitcoin have the potential to become a global currency without the backing of any government or organization, it eliminates the need to rely on payment processors for online payments.
Edit: I realize this doesn't quite answer the question but it was an off-the-cuff response. When I have a bit more time, I'll write a more accurate and concise statement.
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Still around.
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gregwedow
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Activity: 9
Merit: 0
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June 26, 2012, 10:06:29 PM |
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Is gaining popularity all about trust? Trust isn't needed for people to use it. They might use it because it's cheaper, more convenient and safer than alternatives.
Then there are two different levels of trust involved.
I trust the transaction system because it is completely open and understandable. No shady things going on. I can watch what's happening.
Do I trust that the value stored in my bitcoins will not evaporate one day? Not really. But I'll still use them because of these earlier mentioned three reasons.
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SgtSpike
Legendary
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Activity: 1400
Merit: 1005
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June 26, 2012, 10:12:22 PM |
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Cryptography keeps it secure, decentralized keeps it from corruption, open source keeps it honest, and limited supply keeps it from inflating.
That is why I trust Bitcoin.
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paraipan
In memoriam
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Activity: 924
Merit: 1004
Firstbits: 1pirata
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June 26, 2012, 10:13:27 PM |
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Who would have guessed that all the math we studied in college would lead us to a truly free market. Can't remember where i saw this quote: In bitcoin 2+2 always equals 4, no matter how much guns you point at it |
BTCitcoin: An Idea Worth Saving - Q&A with bitcoins on rugatu.com - Check my rep
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Stephen Gornick
Legendary
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Activity: 2506
Merit: 1010
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June 26, 2012, 10:36:48 PM |
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Mass collaboration around an open protocol.
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Xenland
Legendary
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Activity: 980
Merit: 1003
I'm not just any shaman, I'm a Sha256man
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June 26, 2012, 10:39:47 PM |
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I can be my own bank with the security of math.
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beckspace
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June 26, 2012, 10:44:27 PM |
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Who would have guessed that all the math we studied in college would lead us to a truly free market. Can't remember where i saw this quote: In bitcoin 2+2 always equals 4, no matter how much guns you point at it by Roger Ver: "If you point a gun at the rules of mathematics they are not gonna flinch. They don't care if you are pointing a gun at them or not." https://bitcointalk.org/index.php?topic=52190.msg624861#msg624861Why do I trust Bitcoin? Because the keys are f....ing long! |
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