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PostPosted: Wed Sep 27, 2017 12:44 pm 

Joined: Wed Sep 13, 2017 7:04 am
Posts: 8
Why Bitcoin should be trusted?

PostPosted: Wed Sep 27, 2017 12:47 pm 

Joined: Thu Aug 17, 2017 9:49 am
Posts: 13
This is a very valid question. Why trust a virtual and immaterial currency? Bitcoin transactions are not traceable and cannot be tracked. The Bitcoin value fluctuates so much that it becomes an unpredictable currency. So, there are reasons to believe that Bitcoins are not stable.

The concept behind Bitcoins is the need of the hour. Bitcoins are the only crypto currency that is existing in the global market for last eight years. The online shops are now accepting payments through Bitcoins and there are online shops now who deal only in Bitcoins. There are physical stores also accepting Bitcoins as payment against their sale of goods or services. There are business opportunities worldwide which transact only in Bitcoins. Anyone interested in such businesses or investment has to collect Bitcoins first.

Bitcoins are convincing and have impressed a large section of global population. But still, acceptance of Bitcoins is yet to reach adequacy. Bitcoins have definitely gained trust of global businesses because the price of Bitcoins is increasing since its inception. It is simply because of Bitcoin’s supply versus demand theory. The supply of Bitcoins is definitely not able to meet its demand, hence the appreciation in Bitcoin prices.

All this is not possible without confidence and trust in Bitcoin. Bitcoin is a technology, software. People are investing in Bitcoins. And many claim to have made a fortune through their investment in Bitcoin.

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