How is the value of Bitcoin determined?

in hive-150122 •  last year  (edited)

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Who determines the value of Bitcoin?

This is a new reliable payment system like the digital monetary system can be created with the help of Bitcoin consensus networks.
It was the first currency in a peer-to-peer decentralized digital payment network, which suggests that there was no need for centralized authorities or intermediaries for such transactions.
This network will be powered exclusively by users.
The Bitcoin was created by the inventor, "Satoshi Nakamoto", to form a decentralized platform without manipulators devoid of the hierarchical systems that have contributed to the illegal inequalities and lack of transparency in many companies, which is why now the bitcoins wax without intermediaries and for everyone in the networks safe and reliable.

The cost of Bitcoin in its latest views has increased due to the decentralized nature of the networks, this means that a small percentage of individuals would not be responsible for exercising such control and making prior and quick decisions on all demands.
This will allow all those users of the platform to have the opportunity to participate in its decision-making, this shielding system is extremely difficult to manipulate.

This Bitcoin digital currency was the first cryptocurrency to implement the great blockchain system as we already know it today, and since then it has been coupled by many other platforms in order to guarantee the security of its technology that until now has been reliable, the openings of its operations in user clients and the preservation of public data. Without Bitcoin, other systems simply couldn't even work.
Consequently, the value of Bitcoin can be derived from the success of the projects that have incorporated Bitcoin technology as well as the solutions that these projects have put into the ecosystem.

The technology behind "blockchain" as a consequence has revolutionized in such a way that this is how companies work.
it has become possible to maintain the openings and decisions globally, at the same time that they have made the data available to all those users in an open way without intermediaries.

Bitcoin is like “digital gold” simple as that.?

When Bitcoin is compared to “pure digital gold”, and with good reason. Example, Bitcoin cannot be formed randomly, just like gold, it needs to be mined first.
But yes, Bitcoin is mined by computer methods, this indicates that Bitcoin cannot be created.
This mining is the process that validates transactions, and maintains the flow of assets and guarantees that those actors in the system receive their payment for their participation in watching.
The authenticity of Bitcoin as a form of digital currency will be demonstrated by the value of the mining process.

Conclusion

We say that the value of Bitcoin is indisputable, and especially taking into account its recent rise and strengthening.
Many of the institutional and individual investors have turned to Bitcoin as a reliable security bank and as a store of value and investment option, this as a consequence of those centralized financial and federal systems.
Being a decentralized, secure and public system, it has also demonstrated security in its system and in addition to being an excellent savings mechanism.

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Thanks for reading.....

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  ·  last year 

Hey thanks for the various posts.

Please include your reading references,

Then, posts about crypto in general can be posted on the Steemit Crypto Academy community,

this is a topic irrelevant to the Steem Alliance community.

You have also used a title that does not match the content in your post,

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