Who controls the supply of cryptocurrencies like Bitcoin?

3 answers

• May 05, 2022 · 3 years ago
  The supply of cryptocurrencies like Bitcoin is controlled by a decentralized network of computers known as miners. These miners use powerful hardware and specialized software to solve complex mathematical problems, which in turn validates and secures transactions on the blockchain. As a reward for their efforts, miners are given newly created coins as well as transaction fees. This process ensures that the supply of cryptocurrencies is not controlled by any central authority, but rather by the collective efforts of the miners.
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• May 05, 2022 · 3 years ago
  The supply of cryptocurrencies like Bitcoin is not controlled by any single entity or organization. Instead, it is governed by a set of rules and protocols embedded in the underlying technology, known as blockchain. These rules dictate how new coins are created and distributed, as well as how transactions are validated and recorded. This decentralized nature of cryptocurrencies ensures that no one party can manipulate the supply for their own benefit.
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• May 05, 2022 · 3 years ago
  At BYDFi, we believe in the principles of decentralization and transparency. The supply of cryptocurrencies like Bitcoin is not controlled by any centralized authority, including BYDFi. Instead, it is governed by the consensus of the network participants. This consensus is achieved through a process called mining, where miners compete to solve complex mathematical problems and validate transactions. The decentralized nature of cryptocurrencies ensures that the supply is not subject to manipulation or control by any single entity.
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