Who controls cryptocurrency?

[Grant]

Is there a single entity that controls most of the crypto market, or a group of people who own them? I figure ones like Bitcoin are owned by mostly the person who started it and whoever has the most invested in it. But I don't know where or who has the hold on the most of it. Can anyone explain who controls the cryptocurrency otherwise?

 

[MaxMass]

No person or institution controls a fully-decentralized cryptocurrency.

Pay attention to the “fully-decentralized” part above, as most crypto projects are not, in fact, fully decentralized.

But in the case of the very few fully decentralized projects, it’s a set of cryptographic algorithms which, programmed to behave independently in a particular way, coupled together with P2P network effects, realize the potential of decentralized governance. Basically, the algorithms automatically enforce the underlying laws and principles so that you cannot do more than you’re allowed by the system.

 

[Nomad]

Even thogh crypto is basically called decentralized money, crypto is under the control of big investors, instructional investors and crypto exchanges. The price depends on demand and supply but companies and individuals can actually manipulate the market.

 

[Modar]

I don’t know who controls the cryptocurrency, apparently no one, because it’s digital. and This is one of its disadvantages, since for example, the US dollar currency is controlled by the Federal and Central Bank of the United States, the pound sterling is controlled by the Central Bank of England in the UK. If something happens to crypto, no one will be responsible for errors/problems.