Can We Trust Bitcoin?

By CrusadersCrypto | Crypto Facts 101 | 19 Nov 2023


The short answer is: Yes.
Bitcoin has been the leading currency for a ton of time now and has failed no one. Apart from everyone that had bought at 60,000...It's also helped millions (maybe even a billion?) people exchange money from their hands to the hands of others around them. Whether it be through a transaction, purchase, or trade; Bitcoin made it possible.
That's why bitcoin is here to stay; and the reason we can trust it mainly comes down to how nobody owns the token. It's rumored that Hal, one of the lead developers of bitcoin in it's early stages; was the founder of bitcoin; it turns out that Hal is now dead; he died a while ago.
This all comes leaking back into the one fact being that bitcoin is no longer owned by someone. It's owned by nobody apart from us. 95% of the supply will only ever be released to the public; that's if you believe Hal was the genuine founder of the token. We're not even sure of that though; and in order for us to be fair evaluators, we've got to assume that he isn't the founder of bitcoin, so, for now; Bitcoin is still trustable. The most damage the real founder could ever do is sell all his bitcoin at once, plumetting the price by 5% which is, let's be honest, nothing. Bitcoin already fluctuates 10%-15% on a month to month basis. This'd be a blip on the radar.
Regardless, it is important to look at the facts here, the majority of bitcoin is in the hands of the people that use it on the day to day basis; not in the hands of corporations, hedgefunds, or private equity firms.
To conclude this article; bitcoin is backed by us, the community.

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CrusadersCrypto
CrusadersCrypto

Just looking to spread the news about things I find interesting, and make money while I do it. Business inquiries: Comment on my posts


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