Post
Topic
Board Bitcoin Discussion
Re: Trust Factors in Bitcoin
by
hugeblack
on 26/08/2018, 12:01:23 UTC
What makes all those people trust Bitcoin?
All have an overwhelming reason to trust Bitcoin, some trust in decentralization[1], transparency[2], Anonymous[3], price will rise to the moon, and cheap global transfers.

What are the factors that influence trust in Bitcoin system? If we would like to measure trustworthiness in Bitcoin, what are the attributes that contribute to the variability of this measure? Why people trust in Bitcoin?
The same factors that affect the cause of trust in bitcoin.
For example, some countries and regulators do not trust Bitcoin because it is impossible to know the players involved[4] and the difficulty of tracking their transactions.
Others have reasons for price volatility and legal status such as large shops[5].


[1] Is Decentralized Bitcoin Really Decentralized?
[2] Bitcoin is often perceived as an anonymous payment network. But in reality, Bitcoin is probably the most transparent payment network in the world.
[3] Bitcoin Anonymity - Is Bitcoin Anonymous?
[4] The SEC disapproved the ETF because "unidentifiable participants can influence the market".
[5] Microsoft Resumes Bitcoin Payments After Halt Over 'Instability'