Which system?
The BTC security system is only offered by the purse provider. and exchange systems offered by those who have a market.
But for a price change system for every penny and every second, I think we all get involved in it.
Topic: Who controls the Bitcoin system? - page 12. (Read 1415 times)
Even though the core idea behind the bitcoin was decentralization there are certain people or groups of people that have tools to manipulate and dictate market directions. For example the Great Satoshi Nakamoto owns the biggest amount of Bitcoins which makes him/her/them the richest crypto owner(s) in the world. Moreover, such crypto fortune lets make decisions that result in certain market events. Could be decline or growth, whichever is favorable at certain point and moment.
Bitcoin is decentralized system no one control it. But miners work for to do the transactions of btc
Bitcoin network is a decentralized network and so no governing body or any banking system does not have control over the bitcoin system, as the bitcoin system is a peer to peer online networking system there is no central authority to control them and all the transactions are recorded in the public ledger called the block chain system. As no one has control over the bitcoin system no one will be able to stop the bitcoin system, so even if some government's have banned the use of bitcoins, the bitcoin transactions can be carried out through wallets and exchanges all over the world and can be converted to fiat currencies.
I think nobody can control or own the bitcoin system like they can not control and possess the technology by email and the internet. I think Bitcoin is no different than a mobile application or program that offers a personal Bitcoin wallet and allows users to send and receive Bitcoin.
Actually everybody controls the bitcoin network. There are just people (whales) who possess a big amount of bitcoin who can literally move the market. They try and move wallstreet trading and sometimes succeed how much more in bitcoin. There no regulations and no one would know and no one would arrest you for dumping and crashing the market
Though Bitcoin is decentralize, I believe that it is controlled by some developers, it is impossible to a technology to be created without a people behind it. Like it was created by a person it was also controlled by a person but the major controller of bitcoin is the community of btc.
I think nobody can control or own the bitcoin system like they can not control and possess the technology by email and the internet. I think Bitcoin is no different than a mobile application or program that offers a personal Bitcoin wallet and allows users to send and receive Bitcoin.
Your first statement is correct but your second statement is wrong. Bitcoin is unlike any other technology because it utilizes the blockchain. With blockchain, smart contracts can be done when process of transaction occurs. This adds security to both the buyer and the seller.
there is no control over bitcoin and the only one controls it is the dev and the owner of bitcoin we do not know how to recover the bitcoin but we just hold it
Everybody says that nobody controls bitcoin but for me there's one person or one group who controls it but no one knows who it was that is way they say that nobody controls it. If nobody controls it who launch the system? Who is in charge in the maintenance of the system? Where is the server of this system? Who paid for it for web hosting? Is it launch in the air and then everybody used it? No one knows but it has, it ALWAYS HAS. No system or program runs by its own. How about if it crash? Who manage it? Who made the updates? That's the sign you have to keep it in your mind.
No institution, group or person can control the bitcoin system. we can only control the price, so the user only contributes in determining the market price through demand and supply.
Technically speaking Bitcoin is controlled by the community itself it consist of traders, miners,developers and Bitcoin holders.Bitcoin is the first digital currency and it is a decentralized currency no intermediaries are involved in it the holders themselves control the Bitcoin there is no governing body it is run by the people who use it. Bitcoin miners have some certain level of control without Bitcoin miners Bitcoin would be ineffective. the transaction of Bitcoin is distributed by an open network .
there is. and it's controlled by all users. and organized by the internet neatly.
The traders and miners controls it the traders gives Bitcoin price and miners give blocks for blockchain to confirms all the transactions.
Technically it’s controlled by the community. What is the community?
Consists of miners / traders / those who hold currency
Bitcoin miners: These people have bought the hardware / pay for the electricity to make the transactions and the network “function”.
Bitcoin traders: Large stake holders who move the markets in certain ways by altering liquidity.
Bitcoin holders: Those who are not necessarily in the “trading” realm, but have been buying and holding the currency (thus removing tokens from circulation / the ecosystem)
Consists of miners / traders / those who hold currency
Bitcoin miners: These people have bought the hardware / pay for the electricity to make the transactions and the network “function”.
Bitcoin traders: Large stake holders who move the markets in certain ways by altering liquidity.
Bitcoin holders: Those who are not necessarily in the “trading” realm, but have been buying and holding the currency (thus removing tokens from circulation / the ecosystem)
We are the bitcoin lover holder who controld bitcoin. Without us i dont know if bitcoin will still function today.
isn't bitcoin has a checkpoint key and alert key that very few core dev team member holds? with these keys they can effectively destroy the coin if they want.
It can range from a single home heating controller using a thermostat controlling boiler to large industrial control system that are used for controlling processes.
I think nobody can control or own the bitcoin system like they can not control and possess the technology by email and the internet. I think Bitcoin is no different than a mobile application or program that offers a personal Bitcoin wallet and allows users to send and receive Bitcoin.
Nobody control the Bitcoin system it was purely the users which is us during our transactions that is why the US Pentagon is studying the capability of the blockchain because it has unique system in which its very difficult to manipulate but anyone can control the Bitcoin price specially by the big whales in which they could manipulate the Bitcoin price anytime they want.
I think nobody can control or own the bitcoin system like they can not control and possess the technology by email and the internet. I think Bitcoin is no different than a mobile application or program that offers a personal Bitcoin wallet and allows users to send and receive Bitcoin.
bitcoin is controlled by all of usagree with this, but still there is a dominant to be able to control the bitcoin of course that have a lot of savings and trade by looking for huge profits.
One advantage of bitcoin is that it is a decentralized system. It is not under the control of one central authority or government central banks. What influences bitcoin is the people using it. So bitcoin community will grow as more people support it. There is really no central control. What we do influences how bitcoin develops.
No one controls bitcoin,to be precise, it is an automatic system that operates at the expense of miners
I think nobody can control or own the bitcoin system like they can not control and possess the technology by email and the internet. I think Bitcoin is no different than a mobile application or program that offers a personal Bitcoin wallet and allows users to send and receive Bitcoin.
bitcoin is controlled by all of usagree with this, but still there is a dominant to be able to control the bitcoin of course that have a lot of savings and trade by looking for huge profits.
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