At present, governments, through imposed laws, determine the kind of money of legal tender. But it is other entities, such as central banks and currency centers (CECA), which are in charge, first, of regulating and controlling the monetary policy of an economy, and second, of creating the currency and notes according to insist and the need to have bodily and electronic money. And they can create as much as they want and whenever they want.
No matter the timeframe of the history you select, this model has proven to fail miserably. Only in the 21st century (and notice that we only have 16 years of the century), there are multiple failures: Crisis, corallites, uncontrolled inflation, …
Offer and demand
But, who determines its price? The price of a bit coin is determined by anyone who wants to participate in the purchase – sale process, essentially its users. That is, what ultimately determines the price of bit coin, even if multiple factors influence it. The bit coin trade allows you to distribute it and benefit from it. As in other scenarios, the producers (in the case of Bit coin: the miners) can propose a price by selling their bit coins to the interested parties, reaching agreements. Imagine the typical deals between two people, one proposes a price and if the other, between bargains, is willing to accept it then the transaction is made.
This can be done btc on the street, and it is done. But, in a computerized world like ours, it is more common to see this type of deals in specialized online platforms and optimized for it. The well-known “Bit coin trading platforms”. Unlike a buy-sell website, which has its prices stipulated as in Bit2Me, in any trading platform you can publish a purchase proposal at the desired price.
In the trading markets, you also do not have to buy a full bit coin, you can buy pieces. Remember that 1 bit coin is composed of 100. When another offer of sale coincides with yours, automatically, the transaction is made. This purchase – sale operation makes, only on that platform, that the price of the bit coin is fixed at the price of the exchange made.
Freebitco.in is an online platform where you can simply earn money by betting at a casino or poker. With the trend of online sports, the market rate has changed in recent years. Nowadays, Freebitco gaming has become an industry with billions of bitcoins, because people with a new generation are always on a short path to making money.