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[Dagov]

How is Bitcoin governed?
Bitcoin is not a business that has an owner. There is no body in charge of it. The program is a protocol that operates independently and is updated by programmers. They are backed by organizations like miners, who are the owners of the equipment used to create new Bitcoins and keep the network secure.

Participants do have the ability to cast a vote for which Bitcoin software should be supported using their devices. If developers make and publish necessary modifications to the current protocol, the miners won't be impacted unless they choose to adopt them.

 

[btaliat]

Bitcoin has no regulator because it is decentralized. This only means that it is controlled by the activities of its users. The whalers who are heavy traders and the government are the major players in crypto.

 

[Margery]

Bitcoin is not controllable from outside. It has a blockchain in which all actions are recorded, and then confirmed by several participants. Blockchain cannot be changed.
It is precisely this question that irritates those in power.

 

[magnus2022]

Bitcoin can not be controlled by one single entity. It is totally decentralized and can't be easily hacked even by the programmers. Bitcoin nomenclature is quite fascinating, complex and quite diverse. Bitcoin internet mechanism is been guided by the actions of the users.

 

[chipan]

Bitcoin can not be controlled by one single entity. It is totally decentralized and can't be easily hacked even by the programmers. Bitcoin nomenclature is quite fascinating, complex and quite diverse. Bitcoin internet mechanism is been guided by the actions of the users.

Yes in can't be hacked by any programers or hackers because commonly known as blockchain, gives owners a record of all their transactions that cannot be tampered with because there is no single point of failure.

 

[Riberet19]

Bitcoin does not have a governance as such is decentralized and belongs to each bitcoin holder, as well as to the miners also, everyone who has bitcoin can interact with it and has equal rights over the blockchain as all its other holders.

 

[btaliat]

Bitcoin as a decentralized market doesn't have a sole controller. But truly it is governed by the actions of whalers and influencers. Most times, what they do always move the direction of the coins.

 

[Xrin Nightfall]

It uses the same 256-bit Secure Hash Algorithm (SHA) hash algorithms that are used to secure systems in banks, the government, and VPNs. While encryption can be decoded, the unique fingerprint provided by SHA hash algorithms for each transaction is unrecoverable.

 

[Riberet19]

Bitcoin as a decentralized market doesn't have a sole controller. But truly it is governed by the actions of whalers and influencers. Most times, what they do always move the direction of the coins.

Yes, in fact whales will always have a very large role in terms of upward or downward movements since they are great holders of the ecosystem, but sometimes a good number of retailers can also move the price if there is a hype effect or feeling of extreme greed or even something like what happened with Gamestop that Reddit users agreed to buy their massively. stocks and pumped the price

 

[Emmanuel24]

Bitcoin is a currency that stands on it own and works according to the way users react to it so the main backed up are mining companies, programmers and users (investors) so this makes the price flunctuate and describe as volatility in nature. Also it has decentralized nature so there's no centralized authority over it.

 

[btaliat]

How is Bitcoin governed?
Bitcoin is not a business that has an owner. There is no body in charge of it. The program is a protocol that operates independently and is updated by programmers. They are backed by organizations like miners, who are the owners of the equipment used to create new Bitcoins and keep the network secure.

Participants do have the ability to cast a vote for which Bitcoin software should be supported using their devices. If developers make and publish necessary modifications to the current protocol, the miners won't be impacted unless they choose to adopt them.

Bitcoin is not a business. It is a digital coin that was launched in 2009 as a decentralized coin. All the participants in Bitcoin in one way or the other influences the performance of the coin which makes it somehow to be dominated by just one person.

 

[Wisdom01]

it's a decentralized something , so am not sure if it's governed by anyone and others , that's the the thing , it's actually controlled by the demand and supply of coin by the investors , that's how it's actually done and controlled like , based on my observation

 

[btaliat]

it's a decentralized something , so am not sure if it's governed by anyone and others , that's the the thing , it's actually controlled by the demand and supply of coin by the investors , that's how it's actually done and controlled like , based on my observation

It is not governed by anybody. Attempts have been made by the government to be controlling it but the way the Bitcoin was programmed, it cannot be controlled or stopped by just a single authority.

 

[Wisdom01]

It is not governed by anybody. Attempts have been made by the government to be controlling it but the way the Bitcoin was programmed, it cannot be controlled or stopped by just a single authority.

yeah the government can't control it , probably why some are just finding ways to ban the use of it ,they probably want something they could control and Bitcoin is actually not providing such kind of thing for to them I think

 

[btaliat]

yeah the government can't control it , probably why some are just finding ways to ban the use of it ,they probably want something they could control and Bitcoin is actually not providing such kind of thing for to them I think

This will explain the main reason why most governments followed suit after China launched her first CBDC. Unfortunately, the new coin has not been functioning well as cryptocurrency works. That's why they introduced regulation.

 

[Wisdom01]

This will explain the main reason why most governments followed suit after China launched her first CBDC. Unfortunately, the new coin has not been functioning well as cryptocurrency works. That's why they introduced regulation.

Yeah after China launched her first digital currency project , I believe they constructed different ATM machines and others ,they were probably putting all things in place and I think the reason was probably to see the development of the new coin

 

[silentwatch]

Bitcoin is a decentralized cryptocurrency, which means that it is not governed by any central authority or organization. Instead, it operates on a peer-to-peer network, allowing users to send and receive payments directly without the need for intermediaries. The rules and operations of the Bitcoin network are maintained and governed by its community of users, who use a consensus-based process to make decisions about how the network should operate.

The feature keys of Bitcoin is its transparency, as all transactions are recorded on blockchain. This allows anyone to view and verify the transactions that take place on the network. The blockchain is also decentralized, meaning that it is not controlled by any single entity and is instead maintained by a network of users who work to ensure its integrity.

 

[btaliat]

Yeah after China launched her first digital currency project , I believe they constructed different ATM machines and others ,they were probably putting all things in place and I think the reason was probably to see the development of the new coin

Unfortunately, there has not been development in the CBDC. These days now, the country has been introducing different modifications to the coin and even crypto since the citizens are still yearning for crypto trading.

 

[Wisdom01]

Unfortunately, there has not been development in the CBDC. These days now, the country has been introducing different modifications to the coin and even crypto since the citizens are still yearning for crypto trading.

I think since many filing station , restaurant and others are using the digital coin as method of payment , obviously people would have to adopt it like that even the cryptocurrency investors and those yearning for cryptocurrency I think

 

[a_jerobon]

Bitcoin is not governed by anyone since it is a decentralized currency. Those currencies that are government by the central bank are centralized. But the central bank does not have any control on crypto currencies.