The hype of Bitcoin attracted people from a wide range of backgrounds around the world. What makes all those people trust Bitcoin? Trust is needed when there is an exchange in cooperative relationship with the existing of uncertainty and vulnerability*. This situation is valid in Bitcoin exchange.
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?
I would like to hear from the folks in Bitcoin community, your responses are much appreciated.
* Hoff, K. A., & Bashir, M. (2015). Trust in automation: Integrating empirical evidence on factors that influence trust. Human Factors, 57(3), 407-434.
The most basic factor is that anyone who tries to enter this system sees that millions of people around the world are involved in it and therefore begins to think that if millions and millions are engaged in this, that means for certain something very good. I would call this factor one word - an imitation of the behavior of the herd.