Is Bitcoin really driven by individuals? - page 5.

vernl

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Quote from: idontcare on November 07, 2018, 04:19:38 AM

I don't think so. Bitcoin it is authenticated by so many individuals back to general, since bitcoin is a very common top end. If we need BTC, the price will increase, too much (surplus), the price is reduced here is how not only to one person Undecided

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Yeah , your words are absolutely true but it doesn't contain the situation that "That guy has a lot of Bitcoin" . So if they have the market in their hand so they can drive Bitcoin and the whole market for sure.

idontcare

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I don't think so. Bitcoin it is authenticated by so many individuals back to general, since bitcoin is a very common top end. If we need BTC, the price will increase, too much (surplus), the price is reduced here is how not only to one person Undecided

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bitbunnny

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WOLF.BET - Provably Fair Crypto Casino

Despite some theories that Bitcoin is strongly influenced by some interest groups to my opinion individual users still have the biggest impact.
Also, we have whales who usualy hold very large amount of Bitcoins and no doubt they can influence the market but still usually this is exaggerated.
There is no conspiracy theory behind Bitcoin and it's not driven by some special group of individuals but each and every Bitcoin user has its own contribution that is valuable.

Palo25

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Individuals do determine the price of Bitcoin, if there isn't a demand for it, it won't hold any value.just like goods and services, if no one wants to use it the price/value reduces. Bitcoin especially is determined by individuals because of its decentralization.

levvv

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Quote from: Webberson on October 04, 2018, 10:09:19 AM

Bitcoin is seen as a currency that is not regulated by any institute. It does not generate any revenue and therefore, has a zero minimal value. What then brings about its value and drives it as well?

For individual to be able driving bitcoin in the market, it will need very massive amount of bitcoin.
I think it is not the individual, it is a group of whales who can make the market price going up or down.
The bitcoin value comes from massive adoption of peoples who buy bitcoin, they bought and sold it with higher price.

AAKODI

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Definitely bitcoin prices are mainly influence by individuals because in the market bitcoin demand depend on each and every individuals decisions and actions that are taken according to there desire because unlike centralized markets bitcoin market is build by collection of individuals which makes its price to increase or decrease according to them

Marial Carter

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The market is controlled by all individuals, but no individual has the power to control all.

samsul1234

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Quote from: Webberson on October 04, 2018, 10:09:19 AM

Bitcoin is seen as a currency that is not regulated by any institute. It does not generate any revenue and therefore, has a zero minimal value. What then brings about its value and drives it as well?

what makes bitcoin valuable and has value is that many people are speculating and those people can raise bitcoin even lower it, I see now many people are speculating about it, and we are required to follow the rules of the people themselves

Segway

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The notion that cryptocurrency doesn't need intrinsic value is nonsense, because market value always depends in part upon intrinsic value. “Currencies to be exchangeable have to be backed by something,” Greenspan points out. Without intrinsic value, nobody would have assigned Bitcoin a value in the first place

Om.monata

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the question of who drives bitcoin is still speculation but nowadays bitcoin is easily dumped or pumped by individuals who have a lot of money, this can be a statement if maybe bitcoin is easily influenced by the movement of individuals who have money.

onrise

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Quote from: Harvey-Connan on November 05, 2018, 07:06:12 PM

Each individual controls himself and all makes a bitcoin market, we also bother as the government tries to control it.

Every individual does contribute to the total pool of the btc or other crypto coins. But individuals generally cannot drive the price as their are larger institutional players who buy in bulk and this is what drives the prices rise or crash in the market.

anitaraymonds

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Partly yes partly no. I said yes because some actions taken by some individuals may shake the market and result of that market sentiments will go along way to determine the price of the market. Then no, because it is only market sentiments which makes the any change in the market price. Mean while these sentiments are as a result of news that the markets reacts to.

novokovskitve

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but bitcoin cost depends on deytviya of people. therefore it is quite reasonable to say that he is operated by people.

sultanGol

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I want to believe, that we individuals are the ones, who can and will determine the route of Bitcoin, and so how much it worth. Of course there are always other factors, but we are the key.

ict

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We all know that the crypto currency is a decentralized currency so that none of the individuals regulate and control the system and the movement of the price of bitcoin and altcoin. price movements are strongly influenced by supply and demand. however, each individual can make a policy that affects the price of bitcoin or altcoin.

AlaEhBTC

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Yes it has value because people are giving it value and those individuals that are acknowledging bitcoin are the one that drives it. Look at the whales, they can manipulate the price on what price they want.

happy weblancer

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Based on the demand, supply and play of major bitcoin holders! The more popular Bitcoin has become, the higher its price has risen in 2017. In 2018, the price of Bitcoin began to fall due to a decrease in demand, and popularity began to fall. Now bitcoin has taken its place in the cryptocurrency market. But as soon as some powerful holder enters the market, the price of Bitcoin will immediately change. Chaos will begin again in the market.

kalstarzz

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Quote from: Webberson on October 04, 2018, 10:09:19 AM

Bitcoin is seen as a currency that is not regulated by any institute. It does not generate any revenue and therefore, has a zero minimal value. What then brings about its value and drives it as well?

I see the value of bitcoin brought by investors, with more and more investors making the value stronger. and this is what makes the price continue to be pushed to date. this year users continue to increase and I'm sure the price in 2019 will get a stronger boost, and will deliver bitcoin to a much higher value.

MrCrank

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Quote from: Webberson on October 04, 2018, 10:09:19 AM

Bitcoin is seen as a currency that is not regulated by any institute. It does not generate any revenue and therefore, has a zero minimal value. What then brings about its value and drives it as well?

Not generate revenue? Yes, if don't include BTC mining. Mining is good business for large farms.
Also semi-anonymous transactions. BTC can't have zero minimum value because cost of mining farms are huge money and works 24/7

andika2018

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Quote from: Webberson on October 04, 2018, 10:09:19 AM

Bitcoin is seen as a currency that is not regulated by any institute. It does not generate any revenue and therefore, has a zero minimal value. What then brings about its value and drives it as well?

From what i am read, bitcoin have a value because people trust on the network security and its impossible to double transaction. Fiat money have value because trust on government but the different between bitcoin and fiat money is bitcoin have limited supply and no authorities control the supply

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