Who control bitcoin network? | Bitcointalksearch.org

calkob

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Quote from: ashiqdey on September 26, 2016, 08:17:56 AM

Since bitcoin is decentralized so who actually makes the transaction, and who control blockchain and it's ledger. So one manage blockchain could they take our money?

You really need to do the most basic of research before posting on a forum, like these are the most basic of questions you are asking which makes me believe that the question is not even genuine. you use the words, decentralised, blockchain and ledger, surly to even know of these words in conjunction with bitcoin you would have had to do some research 1st, so how did you not learn that no one controls the bitcoin network at the same time? Huh

larryfromjapan

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There are mice in my computer running on a treadmill confirming transactions. All peers have mice confirmed transactions. So whoever has the most mice will control it. Cool

Why is every body so concerned with the nuances that do not matter? We dont ask those types of questions about oour cars and cell phones which are way more complicated. Just sayin.

MingLee

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No individual directly controls the Bitcoin network, however users on this forum will say that, by proxy, those with large mining pools or portions of the total (Chinese miners) or those who have a lot of the dev power (Core, Segwit, other competitors) control the network.

It all depends on how you want to look at it. It comes down to whether or not your definition relies on the direct control of the network or control through more subtle means.

rapazev

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technically, nobody/everybody controls bitcoin.

Quote from: ashiqdey on September 26, 2016, 08:17:56 AM

who actually makes the transaction?

Users. Me, you, and every other user.

Quote from: ashiqdey on September 26, 2016, 08:17:56 AM

who control blockchain and it's ledger. So one manage blockchain could they take our money?

the majority will "control". Everything that's has to be made in blockchain needs the "approval" from miners/nodes.

staff_1307

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Each user has a certain network Bitcoin. No one has complete control over it.

amacar2

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Quote from: mastica on October 03, 2016, 05:17:00 PM

Currently bitcoin network has the support from miners, the big miners that protect bitcoin, to has control over bitcoin you must have 51% the total hash, something that we do believe its impossible, soo as i know bitcoin has no one controlling it its freedom.

Yes this is correct info and too see how this owning 51% hash power also known as 51% attack can mess the coin, look at few ETH clone cryptos like shift and krypton. Coin with very low hash power can go through this types of attack, however for someone to own 51% hash power of bitcoin mining is almost impossible due to very high numbers of miners and hashpower.

YuginKadoya

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Quote from: Ai7xpressTV on October 04, 2016, 05:51:26 AM

Quote from: ashiqdey on September 26, 2016, 08:17:56 AM

Since bitcoin is decentralized so who actually makes the transaction, and who control blockchain and it's ledger. So one manage blockchain could they take our money?

No one controls or can controled bitcoin. but the network Bitcoin is controlled by all Bitcoin users.

I think the word control here is not the proper way to address the bitcoin users because bitcoin users are the one progressing and the one regressing the movement of bitcoin they can not control this kind of movement by some bitcoin traders have a prediction ahead of them on what kind of movement bitcoin will go so the word control is not really apply that is why there is no one controlling bitcoin.

Ai7xpressTV

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Quote from: ashiqdey on September 26, 2016, 08:17:56 AM

Since bitcoin is decentralized so who actually makes the transaction, and who control blockchain and it's ledger. So one manage blockchain could they take our money?

No one controls or can controled bitcoin. but the network Bitcoin is controlled by all Bitcoin users.

CasioK

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Quote from: Mastsetad on October 04, 2016, 05:06:48 AM

No one controls bitcoin network, it is all automated, if there was someone controlling it then it would not have been anonymous nor it has been called different than banks of physical world, just because no one has control on its network that is why it is considered that way.

Instead of considering as no one, we could assume the miners are controlling bitcoin network with their hash power. But each and every miners needs to follow the protocols defined by Satoshi, so there is no need to worry as long as no single miner gets more than 51% of total hash power of bitcoin network.

markisanon2434

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The answer to your question is that nobody controls the network but everybody who uses the network play their part in securing the network as well as keeping the network growing. It's all about decentralization. Miners to an extent protects the network, they get rewarded for this. Some mining pools such as f2pool, antpool, etc owns huge mining power and control, but they are made up of many small individual miners and they keep moving and shifting to different pools to ensure that no pools get more than 50 percent of the mining pool. This is done to prevent the 51 percent attack.

Mastsetad

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No one controls bitcoin network, it is all automated, if there was someone controlling it then it would not have been anonymous nor it has been called different than banks of physical world, just because no one has control on its network that is why it is considered that way.

wintermeasures

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Quote from: ashiqdey on September 26, 2016, 08:17:56 AM

Since bitcoin is decentralized so who actually makes the transaction, and who control blockchain and it's ledger. So one manage blockchain could they take our money?

According To Me No One Controls The Bitcoin Network The Persons Who Owns Bitcoin Controls It Because Its A P2P Currency And Being Transfered Person To Person And Also In Future It Is Not Possible That A Single Person Controls It....

springgers

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Quote from: ashiqdey on September 26, 2016, 08:17:56 AM

Since bitcoin is decentralized so who actually makes the transaction, and who control blockchain and it's ledger. So one manage blockchain could they take our money?

What are you trying to ask?
Who can make a hardfork or things like that in the coin?

calkob

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Quote from: ashiqdey on September 26, 2016, 08:17:56 AM

Since bitcoin is decentralized so who actually makes the transaction, and who control blockchain and it's ledger. So one manage blockchain could they take our money?

Thats the whole point, no one person or organisation own or control bitcoin, it is software run on many computers around the world that run to set rules that everyone agrees upon.

Zadicar

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Quote from: Barbut on October 04, 2016, 01:17:01 AM

Decentralization is nice thing, for now nobody can't control bitcoin network. It's question how long will stay like that, will miner's have good profit and reason to stay where they are. For them to pay mining expenses price need to be higher every couple months.
Price is determined with demand, so if we have more interested people in bitcoin price tend to rise. It's still very simply with bitcoin, I wonder will things remain the same in the future.

Lets hope that this trend would continue on upcoming years to come. You are right price would really depend on the demand on bitcoin, the more demand the less supply which could make the price high but one things for sure no one controls bitcoin and no one could able to do so.

justspare

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Bitcoin is decentralized which means that no one can control it. Saying this, some of the big miners have influence on Bitcoin but that doesn't mean they control it.

Barbut

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Decentralization is nice thing, for now nobody can't control bitcoin network. It's question how long will stay like that, will miner's have good profit and reason to stay where they are. For them to pay mining expenses price need to be higher every couple months.
Price is determined with demand, so if we have more interested people in bitcoin price tend to rise. It's still very simply with bitcoin, I wonder will things remain the same in the future.

hoian0809

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Quote from: jossiel on October 04, 2016, 12:59:28 AM

Quote from: mastica on October 03, 2016, 05:17:00 PM

Currently bitcoin network has the support from miners, the big miners that protect bitcoin, to has control over bitcoin you must have 51% the total hash, something that we do believe its impossible, soo as i know bitcoin has no one controlling it its freedom.

Yeah as of now, no one really controls the bitcoin network and it is just like a company without CEO but keeps on earning from its laborers.

But the market of bitcoin it s being controlled by the whales all over the bitcoin industry. But with the bitcoin network no one knows who is the controller of it.

The only personalities who are able to control the network are the devs.

Unless the special interest group somehow guarantee a fixed exchange for the new coin this artificially propping its value and fixing miners aboard. Banks for example could unite and impose their will on the protocol by firing the chain and then establishing an exchange window.

jossiel

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Quote from: mastica on October 03, 2016, 05:17:00 PM

Currently bitcoin network has the support from miners, the big miners that protect bitcoin, to has control over bitcoin you must have 51% the total hash, something that we do believe its impossible, soo as i know bitcoin has no one controlling it its freedom.

Yeah as of now, no one really controls the bitcoin network and it is just like a company without CEO but keeps on earning from its laborers.

But the market of bitcoin it s being controlled by the whales all over the bitcoin industry. But with the bitcoin network no one knows who is the controller of it.

The only personalities who are able to control the network are the devs.

mastica

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Currently bitcoin network has the support from miners, the big miners that protect bitcoin, to has control over bitcoin you must have 51% the total hash, something that we do believe its impossible, soo as i know bitcoin has no one controlling it its freedom.

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