Is Bitcoin really driven by individuals?

[tabbac]

Bitcoin is just a part of the blockchain technology, the currency itself is like a gearbox, a thing that can be expressed and calculated in some way. Well, only people determine the final cost. And so it turns out))

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[wangchagongcha]

Bitcoin is completely different from other cryptocurrency systems. Bitcoin's change in value and the future of bitcoin are very bright. Only 21 million Bitcoins can be produced based on its scattered computer code (and 16 million were circulated), meaning bitcoin is very limited. Even the best stock investors are considered A great success if they can earn 20% of their capital gains in a year. But how much do banks pay them? 0.5% per year? Bitcoin has soared 53,000% since 2009 when the first volume was created.

[Fredomago]

bitcoin is a technology that is offered to everyone wherever they are and who wants to use it. Bitcoin is very valuable because of the high demand and supply, the more people seek and the less supply, the more valuable bitcoin is.

For future references, bitcoin will be for anyone who trusted the system, if there's numbers of individuals who are holding and keeping to have much bigger influence then its up to them, we are in the process where we can't deny the fact that this industry are still manipulated by personalities who
have large investment and willing to take the risk just to have more control with the market, people who's so wealthy and have capability to work things
out from this business.

[Ava Duvall]

The value of the AML Bitcoin is not determined by any government. Therefore, if any economic or financial instability occurs, AML Bitcoin users are not affected.

Yes, bitcoin is in no way connected to the government. That's why the government has no power over bitcoin, and can't control it. Which in some shape or form is good

[Nolimitz84]

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?

A group of researchers from the American Institute of Technology Stevens found that the price of Bitcoin can increase tenfold thanks to the comments and posts of users of social networks. This assessment of experts published in the journal The Journal of Management Information Systems.

Scientists came to this conclusion, having studied the comments of users of the Bitcointalk forum for two years and posts on Twitter for the same period with mention of Bitcoin - there were 3.4 million.

Analysts divided the comments into positive and negative, and their authors into two categories: active users and the “silent majority”, people who rarely mentioned Bitcoin.

As a result, the scientists came to a rather unexpected conclusion: it turned out that the comments and posts of active users had practically no effect on the dynamics of the Bitcoin price, whereas due to the meager statements of the “silent majority” the price sometimes increased tenfold.

The head of the research explains this paradox by the fact that active users of social networks may have certain intentions, in particular, to create a “HYIP” for pumping a Bitcoin course or other cryptocurrencies in which they invested. Therefore, the words of those who write about Bitcoin rarely and, most likely, sincerely express thoughts, have much more weight and more influence on the course than obsessive statements in support of or against a particular coin.

In addition to bounty managers, entire institutions monitor my messages)) This is very encouraging.
As for Your question, I can say that management is not in the power of people.But the price is formed by people.

[georgepark]

Unlike many payment methods, bitcoin is no third party,therefore the price is decided by the demand and supply.

[burky156]

The bitcoin price would change with demands and trades ofcourse but i strongly believe that most prices are driven by individuals, not just for the cryptocurrency or bitcoin, in every business in the world. The powerfull and wealthy persons and families are ruling the systems. When they want they can make a coin jump or die.

[yesyes18]

well, the speculations about this market even adds up to that. It makes the control lie within a few powerful people and that's why Nouriel keeps on blasting us each day. Anyways I do believe Bitcoin has value and that's why people are still interested in. Value ckmes from interest, I mean without the love for something, how can you get value from it???

[777Jolami]

I think that it is possible that btc is driven by some individuals because I don't believe that there is no an organization or a person who doesn't have some control over the btc

I think this is also a "mystery" has existed for so long. I suppose, it may or may not be the individual operating bitcoin. But at least they have witnessed the success of their child. Or at least, they are not against the trend later.

[bitalk1]

Everything in this world is done and controlled by humans (no aliens are officially found). If you look at some wallets and amounts on them, that is the reality of both raising and derailing the course, just probably these owners do not need popularity.

[nur rochid]

I think that it is possible that btc is driven by some individuals because I don't believe that there is no an organization or a person who doesn't have some control over the btc

I think this is also a "mystery" has existed for so long. I suppose, it may or may not be the individual operating bitcoin. But at least they have witnessed the success of their child. Or at least, they are not against the trend later.

i don't think for individuals, at least groups. because it requires a lot of capital when driving bitcoin alone. the increasing number of BTC users, i think it will be harder to drive, so they create panic through the news

[Omega Weapon]

I think that it is possible that btc is driven by some individuals because I don't believe that there is no an organization or a person who doesn't have some control over the btc

Even if bitcoin is a decentralized currency it is very clear that there are very powerful individuals that can control the price of bitcoin to some extent, but it is obvious to me that the level of manipulation that they can use to manipulate bitcoin is exaggerated by most people, this is because most people that invested in this market become losers and they try to find an excuse of why that happened.

[Shannon98]

Bitcoin offers an efficient means of transferring money over the internet and is controlled by a decentralised network with a transparent set of rules.

Bitcoin will obtain its value both from its use as a medium of exchange and as a store of value. This will show that bitcoin’s utility as a store of value is dependent on its utility as a medium of exchange.

For something to be used as a store of value it needs to have some intrinsic value, if Bitcoin does not achieve success as a medium of exchange, it will have no practical utility and thus no intrinsic value and won’t be appealing as a store of value.

From my point of view, is that as Bitcoin gains legitimacy, larger scale investors, and more adoption. Its volatility will decrease to the point that volatility is not a concern that would discourage adoption.

[toast]

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?

maybe the interest of investors themselves in my opinion the cryptocurrency is influenced by the movement of investors themselves trade movements and of course the intentions and goals of these investors in investing with cryptocurrencies

[mensahkkofie]

We as crypto enthusiasts control the world of bitcoin. The price or value of bitcoin is also controlled by us as an individuals. It depends how we value bitcoin that gives it's price at any point in time. We can either make the price rise or fall depending on how the majority of holders see it.

[Harvey-Connan]

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

[ICOTechSupport]

Actually bitcoin is a currency.Which operates on the basis of your demand.If the number of people who spend in it increases,then the market gets hot.And in the beginning some people invented it.But its demand has increased significantly.Now the number of people who want it,has increased.It is now being operated by the peoples.

[larrylegend33]

We don't know and i believe that we will never know something about that.. There are big mysteries behind the cryptocurrency and blockchains curtain. Who started it, who supported? Where is the founder? Big questions without answers..

Everyone should read this article, i think it will blow your mind.

Who Is The REAL Satoshi Nakamoto?
https://medium.com/@cryptaldashcoin/who-is-the-real-satoshi-nakamoto-55bacbbee566

[andika2018]

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

[MrCrank]

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