Quote from: Roger_Murdock on May 27, 2015, 05:21:03 AM

One objection I've seen to the claim that Bitcoin is "trustless" goes something like this: "what do you mean I don't have to trust anyone to store value in Bitcoin? What about trusting Satoshi with his million-plus coins? What about who knows how many other early-adopting whales who could crash the market with a huge sell off?" It's not a bad-sounding argument, but it's important to understand that the risk involved is really just "market risk," a risk that is common to all assets (including fiat). In other words, there's always a risk that the market price of an asset in the future will be less than its current price due to changes in supply and demand. Now, as a practical matter, the market risk associated with holding Bitcoin (certainly in the short-term) is a lot greater than the market risk associated with holding US dollars. But the reason it's greater is that the Bitcoin market is small and illiquid. In other words, the problem goes back to the fact that Bitcoin is not yet money / still has a small network effect.

trustless is about the transactions authenticity and inability to be faked.. which is what bitcoin is.

your argument is about FIAT exchanges which has nothing to do with bitcoin code or blockchain transactions. yea exchanges can cause issues and the exchange rate on exchanges can change. but thats a failure of the FIAT greed. not bitcoin.

EG
people trust gold because of its rarity and purity.. no matter how much commodities exchanges may manipulate the FIAT value of gold.. gold as a element still holds value.

bitcoin and gold can survive any FIAT or government manipulation. so if you get to the root of the problem if you remove fiat out of the equation and just think about bitcoin->goods, gold-> goods swaps. (without fiat conversion) bitcoin and gold still hold value.