Topic: Is Bitcoin really driven by individuals? - page 11. (Read 2179 times)

Bitcoin is not the same as fiat money. Bitcoin attracts more people because of being decentralized and digital yet the value is not stable more and more people are engage on it.  The more people who use bitcoin  the more to increase it demand and supply.

Yes I agree on that every individual specially to those who are investing in a big amount in bitcoin will really drive the price to become high and sometimes low, I think it is all because of the direct effect of purchasing or maybe dumping bitcoin on the market place, it will always depend on the volume of investors in the market place.

The people, the technology, the demand and the supply.

Those are the factors that drives bitcoin's value and yes you and I are part of those factors. It's worthless if there's no adoption and you can't use it in real life although most alts has its own price but doesn't have real use case and bitcoin is different from those.

It has its market cap that has the biggest share in the crypto market which has been contributed by us.

Bitcoin has value because of demand, value will increase with increasing demand, and because bitcoin is not controlled by the government, if demand decreases and many of those who sell it certainly will reduce the value of bitcoin. That is bitcoin, a value that can rise and fall depending on market conditions.

Individuals who are related directly or indirectly to this market, drives the Bitcoin market.We all know that the price of Bitcoin depends upon it's demand and here demand is the number of people buying and selling .So with an increase or decrease in the demand the price increases or decreases which means that definitely the individuals have a large role in driving the Bitcoin market.

The value of Bitcoin is not in its price and Bitcoin is not a means to save money.

The decentralized Bitcoin network has opened up the possibility of innovation:

• the blockchain,
• open source code,
• additional improvements based on the existing network.

Bitcoin is indeed difficult to control, which drives Bitcoin is an efficient and effective system and guaranteed security so that bitcoin is interested in by various circles from the community and from the institution's point of view that greatly encourages bitcoin.

Bitcoin is different than the common market because there is no outside party to control the price.The decentralized feature of bitcoin is the factor driving it.Thus the individuals have more power to make it go forward.

Yes bitcoin is being driven by us the end users and as a community the progress and fall of bitcoin lay with us our activities and at that since there is no body that regulates the activities of bitcoin since it a decentralized commodity, and at that it operate on the economic law of demand and supply.

yes, to a certain extent, we the people and users are driving bitcoin.

not. As far as I know, the one who can drive bitcoin is the person who is not an individual or one person. because if more and more users are using bitcoin, then the faster bitcoin will experience price increases

Bitcoin was devised by an individual named Satoshi Nakamoto, which is an alias. Bitcoin might have been created by an individual but it is not driven by anyone. It is collectively governed by all the stakeholders.

Most often I think? But right now the institutional are here and they will buy bitcoin as much as they can then sell those accounts to their clients. Actually im more realistic in the bitcoin price after 2 yrs coz price could change from it current standing. We're lucky that we are accumulating at this price.

Bitcoins is all about the people behind it and when I talk about the people it means that I am talking about the investors into bitcoins. It's the investors that keep bitcoins afloat and if Bitcoins should go down then it will all depends on them as well.

The independent individual as an option is not getting better than government. The rich owners called the whales are now the main manipulators, they are the unexpected problem and new crypto government.
 
The only drive should be the demand and supply but until this year, the demand has been maintained and the price falling.  If the demand increases and the seller provide a lower price compare to market, it creates panic. This result in lower price order by buyer, this is the pattern of manipulation.

One gets the impression that Bitcoin price control is fully within the competence of market participants.

I believe there are a lot of answers to such question but as for me, I believe the people who have faith in bitcoin and other altcoins drives its price up and down. If more people learn of it and how to use it, the price will go up. Given there is FUD, the price is down. Most of these are driven by a group of people most of the time because they want new entries to the markets.

What really drives bitcoin is the supply and demand. Bitcoin has its own independent value. The price is influenced by the number of users.

It is much meaningful if we say bitcoin is driven by a community created with individuals who are traders or investors and there actions make a huge change for the price of bitcoin and its future also its demand and value mainly decided through there actions and that attracts the rest of the world but it doesn't mean that media and governments action have no effect on bitcoin or its progress but above can be considered as significant 

bitcoin does have a minimal value.
its based on many factors. but fortified and strengthened by the cost of acquisition

do not be fooled that the price is value. there are actually 2 layers to it
the underlying value is the LOW of a long-tested out period where its clear that the majority refuse to sell below.
this is based on acquisition costs... the volatile price is the speculation above that which is variable

concentrating on the LOW/acquisition/bottom
its not just buying on the market but also mining. if it costs the average/majority of miners atleast X to mine bitcoin. they wont foolishly sell for less. and if they can buy it on a market for less than they can mine it. they will buy it. which helps build up the underlying value of X
over the last year based on mining costs. the amount of coins that have moved/traded and such, the majority of coins hold a underlying value of $5,800+
yea some people bought at $6k-$20k but the higher the number goes the less people actually got it at that price.
but as based on a good long 11 month period of multiple opportunities for everyone to sell for less than $5,800 no one has bit. mining costs are also above $5,800 which also as i said strengthen that bottomline value where people wont sell at a loss. so there is a bottom.

i emphasis the 'plus' of $5,800. but du to lack of test of time, retest of bottom, variable mining cost variable market acquisition cost and lack of majority of all the above. mentioning any underlying value specific number at this point is too early as the majority have yet to really test, prove that a higher milestone should exist (EG latest retest of $5,800 was not that long ago. and the maths of mining costs also shown that there have been some opportunity to mine coin at $5,800 recently too even many periods above $5,800. so its just too soon to call out a higher bottom value
 

its like gold. if it only cost a penny to mine gold everyone would mine it as they could sell it for any price and break even and profit. thus gold wouldnt be ~$1k/oz
the reason its $1k/oz is because gold needs excavators, diesel, labour which cost money. so miners wont sell for less
as for the gold markets. again if the majority of holders bought gold at a penny they would sell for any price. but they too over time been paying high hundreds and this last decade the $1k area. so thats why gold has a underlying value of such.