Why people trusted Satoshi Nakamoto and bought first BTC coins 10 years ago?

[Cobijin 118]

Back in the days nobody or a few trusted Satoshi work, but when the whitepaper started to being recognized as a great invention for the future, ,that´s when bitcoin started to being known. The 09 economy crisis has to do something with this also.

[Eleazar42 73]

If you are a visionary then you would have bought bitcoin when nakamoto offered the world the project of a digital currency, in my personal case I would have liked to have bought btc for that time of 2009 but at that time I was not as connected on the internet as I am now.

[talattabi06 2]

People wanted to believe something because a crisis was just ending. They were unchangeable rules, not someone they trust

[josss126 41]

10 years ago no one believed Satoshi Nakamoto, everyone thought that bitcoin will never grow in price and no one hoped for it

[hatem70 20]

I think that buying Bitcoin in its early days was not a risk because its price at the beginning of its offering was less than a cent, so if you buy 1000 Bitcoin, its price does not exceed $ 10, it is not considered a risk at all.
And I think everyone who bought Bitcoin in their early days had a long-term investment outlook

[Humberto Alvarez 11]

yes so many other people were also thinking like that, but bitcoin proved that it is the best and number one crypto currency in the world. although anything is possible and another crypto currency can take place of bitcoin, but in present time or in near future it is very difficult because still people are showing trust on bitcoin and new people are entering in the world of bitcoin. they are investing their fiat currency in bitcoin therefore the position of bitcoin getting more stronger and stronger.

[sofiaqq 25]

I think because some coins are inestable, and control for the governments so people don't trust it for invest, and Bitcoin wasn't control for any governments and literally anybody.

[Billalkhan6712 82]

People relied on Santoshi Nakamoto not on his cryto currency work and bought the first BTC coin 10 years ago. Because crypto currency is a major platform for outsourcing income. Thank you for sharing this with me

[Mir Hamza 2888]

People trust the creator of that product more than the product only then they buy this product. In case of Satoshi Nakamoto the people trust his product and bought it immediately, because they considered it as modern gold. Since many people had traust on Satoshi Nakamoto, even then they bought bitcoin, even though bitcoin was not as important as it is today. One such thing which is completely new in the market, no one knows anything about her angel, then no one will buy such thing, but only when people had objection to the maker of this thing, then only people bought it 

[Daramola Abiodun T 60]

Actually, there is cheating in the traditional financial system of the world. This alone is sufficient to enable people accept anything that is different from that system. People trusted BTC because it allows them to conduct transaction anonymously. Not only that, you can own 1billion worth of BTC in your wallet without government knowing and tracing you. All these contributed to the reason why people trusted BTC even without knowing the creator.

[SERGEI260882 2189]

хоошо бы сделать тут встроенный переводчик, чтоб сразу понимать кто что пишет)

[Javier5678 48]

at tha time they referred to bitcoin as digital gold and from another perspective it was a good savings system and why not invest less than 15% of your earnings in BTC since it did not cost as it does today

[Rosarvx 965]

it's very cheap to buy because it feels enough to buy a little Bitcoin, also the reason is that some people were expecting a high price 

[JanBomCrypto 494]

People at the time did not buy bitcoin, bitcoin trade was in 2010 but till people mine more of bitcoin than buying. It I easy to mine bitcoin like freely that time unlike now when it is hard. Like me, if I had know bitcoin at the time, I will mine bitcoin freely too. 

[Rozy 1918]

great topic to talk about my friend, you know what worries me the most is that it is said that Bitcoin is limited and can't be regenerated and actually I can not believe that, because how it existed ? and as long as it can be splitted then it cannot run out right? you just go on splitting endlessly but the value might change , right?

[cryptovlek 2597]

I don't think they just trusted Satoshi, but they trusted Bitcoin. They didn't risk too much either for that time, the early people in Bitcoin only risked their hard drive getting burned and their bitcoins lost if they didn't backup wallets. Bitcoin was only traded in 2010 and prices were very low in the beginning.

[bogdanoff 3173]

I haven't looked a lot at that but I think that it was the idea of having finally created a digital currency that could last. Satoshi given perfect explanation of the Bitcoin system in the whitepaper and cleared all doubts using the bitcointalk forum and directly emails with anyone asking.

[percare 3192]

On 11/29/2019 at 12:46 PM, Brushless4500KV said:

Something I don't understand is that how he managed to sell his bitcoins anonymously? How early adopters trusted bitcoin when they didn't know about its value?

They weren't buying anything and Satoshi didn't sell them Bitcoin. You have to learn how this started and starting from the whitepaper. It is a lot of reading to do. Satoshi didn't have a presale or ICO and didn't premine the Bitcoin like other big cryptocurrencies did, so it could have had profit but it was all honest and genuine. He didn't sell the coins he mined either for all these years so probably he blocked his access to them.

[yonkii 3205]

I don't think that Satoshi managed to sell his Bitcoins. I have read there are the wallets that contain more than a million Bitcoins from mining in the early days and while there are many miners some were mined in a way that was proven they belong to Satoshi. These wallets were not moved so I think that Satoshi didn't sell the Bitcoin he mined until he left in 2010. Maybe he mined more later and is one of the people we read about and is still in Bitcoin but probably not.

[zhoutong 2188]

Satoshi given the Bitcoin whitepaper to the ciphers mailing list in 2008. He informed everyone about Bitcoin and given access to the software in order for them to mine and test his experiment. Which I don't know if it was an experiment as I think he was testing at least for a year. Some like Hal Finney were the innovators, the pioneers that started running the software and announced it on social media too, right when Satoshi started the engines with the creation of the Genesis block.

Bitcoin wasn't sold until more than a year later. It was mined and stored in the blockchain. The early people weren't investors but miners. Tech shavy people and interested in this new internet money that they didn't know if it would succeed. This is why a year later when the first Bitcoin appeared price of Bitcoin was very low. 

[kryptonick 2659]

The Bitcoin code was open source. It required too much time to read all the code and even skilled developers could need months to understand exactly how it worked. Satoshi was there and explained all the technicals to anyone so some people thought that it could work. It takes a leap of faith to put your computer at risk and spend many hours daily to mine something that could not be used for anything or would probably be a big failure. In fact if I found and read about Bitcoin in 2010, even if I did all that and downloaded the software and mined. I would probably be like the rest people that lost their wallets. This needs to have knowledge of everything Satoshi used and perhaps this is the reason he referred to the cryptographers first so that the early people in it wouldn't abandon it but would be people that understood.

[joemcgwa 3227]

I think those people who were bought bitcoin at the first time from Satoshi Nakamoto must be those who were close friends of Nakamoto, so that's they were the people who were supplying bitcoin.

[Cleaner 2549]

When Bitcoin started its journey they had to spend a lot of effort and money to establish it.  They promoted Bitcoin.  And through various works they provided bitcoin.  And everyone got Bitcoin and turned it into Fiat.  However, the creator of Bitcoin is still in disguise.  However, it has taken them a long time to meet the demand and trust of Bitcoin.

[teebasas 3018]

I hadn't thought about this before, but the explanation is that at that time the price of bitcoin was low and people could easily buy it. Perhaps the explanation is also that some individuals were expecting a high price and at that time had faith in the future of bitcoin and other cryptocurrencies.

[Fixfin 2569]

They didn't trust Satoshi, what they trusted was the bitcoin code, and by the way there was no trading when Bitcoin started they were only mining bitcoin. Trading started a little before Satoshi left Bitcoin, sometime in 2010 when the first exchange was founded.