Topic: Who controls the Bitcoin system? - page 16. (Read 1441 times)
There is really no one controlling the Bitcoin system, its independent and free of any centralized influence. the development teams however keep on updating the system to improve its efficiency but doesn't necessarily manipulate it
bitcoin is decentralized, this is the difference between bitcoin and other fiat currency.
there are bitcoin developers but they not control bitcoin, they develop bitcoin features.
no one can control bitcoin i think.
there are bitcoin developers but they not control bitcoin, they develop bitcoin features.
no one can control bitcoin i think.
It is decentralized so NO ONE is controlling it.
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.
right . bitcoin as an algorithm built on the foundation of blockchain. So no one can control this system. But this market has people who can control it going up or down. Because those who are keeping large amounts of bitcoin they can control the market up and down at their will.
I am not sure but I think, technically it’s controlled by the community. What is the community? Consists of developers,miners, traders, those who hold currency.
1. Developers: You can find the Bitcoin source code here - bitcoin/bitcoin - it says there are 376 contributors, which you can see here - contributors - and you can make your own contributions / adjustments (they may or may not get approved)
2. Bitcoin miners: These people have bought the hardware / pay for the electricity to make the transactions and the network “function”.
3. Bitcoin traders: Large stake holders who move the markets in certain ways by altering liquidity.
4. Bitcoin holders: Those who are not necessarily in the “trading” realm, but have been buying and holding the currency.
1. Developers: You can find the Bitcoin source code here - bitcoin/bitcoin - it says there are 376 contributors, which you can see here - contributors - and you can make your own contributions / adjustments (they may or may not get approved)
2. Bitcoin miners: These people have bought the hardware / pay for the electricity to make the transactions and the network “function”.
3. Bitcoin traders: Large stake holders who move the markets in certain ways by altering liquidity.
4. Bitcoin holders: Those who are not necessarily in the “trading” realm, but have been buying and holding the currency.
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 an decentralized currency which means no one is controlling the bitcoin,that is the main reason for the invention of bitcoin to offer the service for the people who can be able to send and receive currency any where without banks help.Bitcoin was designed by working with the blockchain technology but it is not a mobile application.
Good to learn from what other people think.
- miners are def key.
- Even it is decentralized, big money control the price.
- miners are def key.
- Even it is decentralized, big money control the price.
Bitcoin is controlled by the community consist of developers,miners,bitcoin traders and bitcoin holders.
Bitcoin is indeed a decentralized monetary system.
But is the situation same?
Isn't the manipulation from Market Makers(MMs) has intensified recently?
Since December last year, many big financial institution were able to enter the market and now hold a decent percentage of the whole marketcap. I was watching the Bitmex charts and noticed how badly the manipulation is being done. The bulk holders are screwing longs and shorts equally without any set pattern. Bitcoin, since the year started, isn't following any chart sequence because MMs understand how the market sentiment works. Added to that, those exchanges who have all the data of sell and buy orders are also a big manipulator in the game.
But is the situation same?
Isn't the manipulation from Market Makers(MMs) has intensified recently?
Since December last year, many big financial institution were able to enter the market and now hold a decent percentage of the whole marketcap. I was watching the Bitmex charts and noticed how badly the manipulation is being done. The bulk holders are screwing longs and shorts equally without any set pattern. Bitcoin, since the year started, isn't following any chart sequence because MMs understand how the market sentiment works. Added to that, those exchanges who have all the data of sell and buy orders are also a big manipulator in the game.
Even Goldman Sachs one of biggest invesment institution now has bought one of the exchangers, Poloniex. With the influx of big institutions with big capital, maybe in the future market will be controlled by the big financiers
developers have designed software (cardiac crypto) that can be used for everyone in the world. Automatically in order to be used by users around the world.
Bitcoin itself is its director. It does not need anyone to control. Use it to be its controller.
Bitcoin is controlled by all its users almost all over the world almost because its decentralized system means that no one has to stay compatible with each other those who use bitcoin who can control this all
Bitcoin is managed by the owner of the wallet. And the cost of bitcoin is controlled by people with very large money.
my opinion is
There are people who have a very large percentage of extracted bitcoins.
If you want to change the price, they will do it.
And there is no question about any decentralization!
Bitcoin has become a manipulation tool.
Therefore I strongly advise you to listen to my word
There are people who have a very large percentage of extracted bitcoins.
If you want to change the price, they will do it.
And there is no question about any decentralization!
Bitcoin has become a manipulation tool.
Therefore I strongly advise you to listen to my word
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.
As a decentralized form of currency, Bitcoin prides itself on having no governing body. It is completely run by the people who use it.Technically it’s controlled by the community that consists of developers / miners / traders / those who hold this particular currency
Since changes are done by voting, the biggest pools controls what changes to be made on the protocol.
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.
I dont know but we all know that is is a decentralized factor so thats great about that.But I'm so thankful of bitcoin thats why I'm very much thankful.
we all know that bitcoin is not decentralized by anyone. but the development of bitcoin is controlled by the bitcoin users themselves. price setting on the market, development of new members and investors. they affect the market of bitcoin in the world.
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.
that is also what I think and become a question in my mind, I asked to some of my friends, they also can not answer. perhaps in this group I can get an accurate answer. I see the answers in this group vary and do not fit my mind.
As I read and heard, there is no control over bitcoin, but the only program on the computer controls it, and I think it's true, it's better to have this, no one can move on here.
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