Topic: Who controls the Bitcoin system? - page 18. (Read 1431 times)
Technically, the one who owns bitcoin are the users/holders itself. So there's no really single entity who can dictate the price of btc but the supply and demand. If one person holds great percentage of btc, he can affect the price in one single movement.
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 stored locally rather than on the Internet. It is essentially a file stored on your computer, mobile phone, or other hardware device, that is, a bunch of digital signatures generated by calculations, or strings. The circulation of Bitcoin is entirely controlled by the network rather than a third party organization.
I also think that bitcoin does not control and it all depends on all users in terms of rising and falling prices, and players with large capital usually can affect bitcoin prices.
The only one who can control bitcoin is its users. the developers only facilitate to provide virtual wallet services to bitcoin users without being able to change the system implemented by bitcoin with blockchain technology. With it, pure bitcoin is controlled by all its users so that the price also depends on the sale and purchase activities in various bitcoin marketplace and price fluctuations through the agreement with the users. However, the unique feature of this technology is that bitcoin transactions are confirmed by miners and recorded on all connected servers around the world.
the bitcoin system is a decentralized virtual currency so there is no control or central bitcoin circulation by any party. if anyone thinks that the bitcoin price movement is very volatile because of the intentional elements of certain parties by way of pump or dump in my opinion is not true. the rise and fall of the bitcoin price is highly dependent on market demand if market demand is large, there will certainly be some kind of effect from the rising bitcoin price movement. some of the factors that cause the current decline in bitcoin prices are the decrease in the scale of investors caused by many factors, one of which is some negative news which tend to be very angular about bitcoin.
I do not think anybody controls it. Those with big money are affecting the price.
They change the price by making money in and out.
In the past, the coin prices did not go that far.
Good money was earned by buying and selling. Not anymore.
They change the price by making money in and out.
In the past, the coin prices did not go that far.
Good money was earned by buying and selling. Not anymore.
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 suggest you read Satoshi's whitepaper to truly understand bitcoin.
https://bitcoin.org/bitcoin.pdf
Bitcoin technology is decentralized, meaning no central authority, no central control. People set-up their machines to become nodes themselves but it doesn't it that they have control. Although they are investors (whales) who usually owns large amount of bitcoin, it doesn't mean that they have control as well.
As a decentralized system with a complicated design, we are hard to see. There are a number of players with more or less events (for example, miners, holders, exchanges, even developers), but one of them may have more power than the other in terms of improvements to the Bitcoin protocol technology to be performed. Which causes expensive or not Bitcoin prices. Bitcoin holders have the greatest impact on bitcoin prices because of their effect on existing Bitcoin supplies.
The majority controls bitcoin. It's a decentralized coin... but it's majority rule. Miners in China could control bitcoin if they invest enough to become the majority. It's already sort of happened before.
Bitcoin is controlled by all its users worldwide. Developers can indeed improve Bitcoin software, but they can not enforce changes in the Bitcoin protocol because all users are free to choose the software and version they want to use. In order to remain compatible with each other, all users need to use software that follows the same rules. Bitcoin works only when there is full consensus among all users.
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.
Will in my own perception bitcoin will controlled to all us,who being a part of cryptocurrency because we are the one who make our own market and investment trading in the blockchain,but there are some people or other organization who tried to manipulate the cryptocurrency system and thats group that we called a whales or big player in the market,because sometimes they controlled the trade in the crypto system into there hand, by creating FUD to us.
There are people who own a very large percentage of the extracted bitcoins.
If they want to change the price, they will do it.
And there is no question of any decentralization!
Bitcoin has become a means of manipulation.
If they want to change the price, they will do it.
And there is no question of any decentralization!
Bitcoin has become a means of manipulation.
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 us
According to Bitcoin.org, nobody owns the Bitcoin network much like no one owns the technology behind email. Bitcoin is controlled by all Bitcoin users around the world. While developers are improving the software, they can't force a change in the Bitcoin protocol because all users are free to choose what software and version they use. In order to stay compatible with each other, all users need to use software complying with the same rules. Bitcoin can only work correctly with a complete consensus among all users. Therefore, all users and developers have a strong incentive to protect this consensus.
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.
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