Who Controls Bitcoin and How is it valued?
One of the questions that keep popping up in the minds of digital enthusiasts is who controls bitcoin. Many people think that bitcoin is uncontrolled and therefore not sustainable.
Bitcoin is popular digital money. Some argue that the value of bitcoin is significantly higher than the market value, while others argue that bitcoin is worthless. Any central bank or government does not officially sponsor cryptocurrencies. They have to be traded on an open market, comparable to the stock market.
The emergence of Bitcoin tried to fulfill a long-standing promise of decentralized money. Many corporations are putting their economic interest in the bitcoin ecosystem. There are whales, miners, exchanges, developers, and many economic and financial entities. Even the community attempts to rebalance and tip the scales in its favor.
Who controls Bitcoin?
Bitcoin is digital money, and as such, it is immune to the absolute control that a single person or group of people may attempt to impose. No one controls Bitcoin as such because what truly defines its control is totally digital code, software. This is true, at least in its operation, and it is difficult to modify.