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.
Good question!
IMO: if we evaluate BTCs long term survailability, we should focus on it´s scalability issue first. No one has actually proven, BTC is scalable into being a viable currency. For me its mathematically very improbable and thats why Im a huge sceptioc of BTC.
After the main question, many others would follow, but thats the main one for me.