Is Bitcoin really driven by individuals? - page 8.

SIDDHI777

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Quote from: Mikeschmitt on October 06, 2018, 06:34:41 AM

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

Of course supply and demand play a major role but those are factors that are determined by individuals in the crypto market and when we consider bitcoin I think every investor or a trader has the power to change those factors for some extend but when a group of people follow the similar actions that makes a significant change in the bitcoin market and that is why at the end whether bitcoin price fall or increase it is because of the actions of the community who hold and use bitcoin

satria2

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Until now it has not been able to explain that Bitcoin is being moved by several groups to make everything well controlled so far.

brooklynian

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Individuals drive bitcoin because they are the players in the cryptocurrency market. The position of bitcoin whether high or low is the aggregate of activities of trade and investment so if there are no people, there will be no market.

rosemary4u

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The whole system is decentralized so we are all responsible for the market and how it turns out. This is the real issue on the ground, I believe we are all responsible for how the market turns out, no institution controls the crypto ecosystem, thanks to the power of blockchain technology. So we are all responsible for what happens to cryptocurrency or bitcoin for that matter.

nightfury

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With speculations spreading around in the internet and in this forum, we can't really deny that there are big players or whales in this cryptoeconomics. Imagine these entities if they will go on moving their big bitcoin holdings together. It will surely affect Bitcoin's market price drastically even just in an hour.

aryaadikariyansyahsuwarto

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This Is Promissing Project

I don't think so, bitcoin is driven by a market in which there are many buying and selling activities, because if it's a bit then it won't affect to push bitcoin. So if the activity in the market has a lot of demand, that's what makes bitcoin strong ... !!

brooklynian

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It is the people that give value to bitcoin by believing in it and investing in it based on its features and advantages. This demand for bitcoin continue to make the price soar and drive attention to it all over the world. So basically, what drives the price is demand and supply.

Privatoria

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Currently, Bitcoin is already more centralized than it was in the early years of its existence. This is due to the concentration of mining capacities in the hands of large pools, including those related to manufacturers of ASICs. Bitmain contains several large bitcoin mining pools in order not to attract much attention to the concentration of power in one place. If ten largest pools are to agree among themselves, then they can do anything with the network.

andra73

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terra-credit.com

are there people who have that ability? If it's just yourself I don't think she will be able to move, because the Fund requires bitcoin that will move the market too.
and such we know, this technology is highly transparent, I think everybody can have a bitcoin and not an individual who moves the market bitcoin.

ubay

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Bitcoin is very unique, it is transparent and can be owned by everyone and not controlled by anyone. And limited supply makes everyone want to have it.

vonnyaries

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the value of bitcoin depend on demand, if the demand on bitcoin is high and the stock in the market is low, it automatically the price of bitcoin will rise up more and more, and if the demand is low and stock in the market is high the price of bitcoin is going down more and more, it is a economy law

cahbagus555

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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?

Bitcoin have a value because the network security and on limited supply. We know that price always depend on supply and demand and i think because bitcoin supply is not much and only 21million, the price always rising from first created.

karloscimot

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if in my opinion, because bitcoin can grow rapidly if bitcoiners buy large amounts of bitcoin. and positive news, and who can influence bitcoin is the person who created bitcoin and its ranks

BitcoinHunt3r

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Leading Crypto Sports Betting & Casino Platform

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 think market who drives it until now, supply and demand is make value for it. If there is no market, then we can't know what is value of bitcoin and can't trade it. And who drives market, it is our community.

Kasabus

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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?

We actually can't figured it out why prices goes like that especially for Bitcoin. Considering the value of dollar in exchange to the number of Bitcoin is very interesting.
The existence of digital is somewhat to called huge development on currency, instead of using fiat money, we can exchange it into digital form which could be easily for us to transacts payments and others.

hadveach

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Activity: 448

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1. the value of bitcoin is influenced by individuals who trade, investor.
2. the value of bitcoin is affected by market supply and demand.
3. the value of bitcoin is also influenced by all the news about bitcoin coming from outside.

TobiasVR

sr. member

Activity: 626

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bitcoin can be influenced by individuals who have big capital, the limited factor of total supply of bitcoin makes it one of the steps that can be influenced. so maybe now supply and demand contribute the first step in the increase or decrease in bitcoin.

dimox

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people or peoples can decide about bitcoin price, someone or some organisation can make price of bitcoin be low or high. all depend on people that want to buy bitcoin, because bitcoin dont have standard price.
bitcoin cantbe control by people that dont have bitcoin, but if someone have it, you can control that price. as much as you have, as big as you can control it

Ains_sama

full member

Activity: 608

Merit: 100

once again, this is like gold. prices are due to mutual agreement by bitcoin users. bitcoin has value because of its technology review, so that technology developers give value to bitcoin. It is said that bitcoin technology is better than banks, so this technology cannot be ignored. and always rated every time.

Omega Weapon

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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?

The value of something comes from different several sources, and when it comes to bitcoin its value comes from being a network that no one controls directly and that cannot be censored, that is very valuable in itself and when you add the fact that you have a coin that is not controlled by any centralized party then it's not really weird to find that people are giving a very high value to it.

Topic: Is Bitcoin really driven by individuals? - page 8. (Read 2178 times)