WHO CONTROLS THE BITCOIN? (end of the guide)
hello friends of steemit today I bring you the third part of this little guide on bitcoin, well, the point is that this guide has reached its end so enjoy reading:
in this part we will analyze the following points
Who controls Bitcoin?
Why should I trust Bitcoin?
If it is not regulated by a government, what decides the value of Bitcoin?
Who controls Bitcoin?
Nobody ... and everyone. Bitcoin is a decentralized system in which each user is required to have a ledger of all the transactions made in their network. Behind the scenes, a team of developers works to improve the software, but a consensus is required for the system to work properly.
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Why should I trust Bitcoin?
The best part of Bitcoin is that you do not need to trust anyone. The software is open source, so you can review it and confirm that everything is as indicated. All transactions from the beginning can be viewed and consulted in real time. No business or individual controls Bitcoin, so there is no one to trust. Each transaction is protected with the best cryptographic methods on the market to avoid manipulation.
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If it is not regulated by a government, what decides the value of Bitcoin ??
Supply and demand: as the demand increases, so does the value of Bitcoin. There is a finite amount of Bitcoin in the distribution, so the value fluctuates, sometimes wildly, depending on demand or lack of demand.
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Thank you for reading
Great article, @jose2002!
thank you