Topic: Who controls the Bitcoin system? - page 7. (Read 1458 times)
Of course everyone who uses bitcoin are the ones who can control bitcoin and absolutely with blockchain technology. As long as there is internet people can send or receive bitcoin with the help of blockchain. The price of bitcoin is also controlled by people who have limited supply and high demand then the created of different prices following the world market.
the bitcoin system is a decentralized virtual Currency, so there is no control or Central bitcoin handling by any of the parties. if someone thinks that the price of bitcoin movement is very unstable due to the deliberate elements of individual parties using a pump or dump in my opinion is not true. the rise and fall of bitcoin price is highly dependent on market demand, if market demand is large, there will surely be some effect of bitcoin price growth movement. some of the factors that cause the current decline in bitcoin prices are the decrease in investor scale caused by many factors, one of which is some negative news which is usually very angular about bitcoin
its controlled by the investors that invest in btc if no one invest in btc the system it self will continue to grow? those people who believe in btc at the beginning there are people who introduced bitcoin to us so we investors or all can controlled 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.
Technically, there is no sole controller of the bitcoin system. It is controlled by ever user or owner of bitcoins. Every PC, mobile phone, or any device connected to the internet that can handle an electronic ledger ia technically a member of the blockchain which is conteolled by everyone.
The Bitcoin system in part is controlled by an elite group and also in part by the masses who contribute to the pool of those who own the bitcoin..... How this is controlled by the elite is clear that when the whales begin to dump their coins, the price of the coin falls and how fast they are dumping will define the price of bitcoin at the time. Not so with the Masses..... Their little bitcoins here and there when sold AT DIFFERENT TIMES will not have any major impact on the market price....... Except there's a FUD and then everyone is selling......
basically the bitcoin server is what regulates everything about the process of bitcoin system performance, and not necessarily the system is only a part of life for humans.
Yes, Bitcoin is operated by all its users. But there are users in the Bitcoin community who can manipulate its operation by many reasons. Therefore, though decentralized Bitcoin is at least theoretically under control.
Who control the bitcoin system? It is a global market controlled by the users and that is really possible that miners, hodlers, exchanges and developers are the one who have a big factors. But a group of people who hold a great amount of Bitcoins together can do so by agreeing with each other and Bitcoin is decentralized and has a lot of 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.
I agree with you. Although we feel that bitcoin is controlled by somebody but the truth is we are the one who control bitcoin. The user or we say investor is the one who can manipulate prices and can control its trend.
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.
It's controlled by ourselves
As a decentralized system by design, it can be difficult to see where the real power lies in Bitcoin. There are a number of different players in the ecosystem (e.g. miners, hodlers, exchanges, developers), but one entity has more power than the others in terms of what types of protocol improvements will be made.
the hodlers have the biggest impact on the bitcoin price due to the effect they have on the supply of available Bitcoin. Taking this point further, they also have the largest amount of power in terms of what types of improvements are made to the Bitcoin protocol because everyone in the system is incentivized to make the native tokens on the platform as valuable as possible.
Yes, that is exactly what Kyle Torpey say in his contribution in Forbes.com and that is really possible that miners, hodlers, exchanges and developers are the one who have a big factorsthe hodlers have the biggest impact on the bitcoin price due to the effect they have on the supply of available Bitcoin. Taking this point further, they also have the largest amount of power in terms of what types of improvements are made to the Bitcoin protocol because everyone in the system is incentivized to make the native tokens on the platform as valuable as possible.
affecting bitcoin prices, because hodlers can hold bitcoin that affects the circulation of bitcoin and i think exchanges is the biggest factors among the four reason stated above, the volatility of bitcoin price totally reflect on exchanges since that is where traders buy and sell their coin and the effect is the changes of supply and demand.
As a decentralized system by design, it can be difficult to see where the real power lies in Bitcoin. There are a number of different players in the ecosystem (e.g. miners, hodlers, exchanges, developers), but one entity has more power than the others in terms of what types of protocol improvements will be made.
the hodlers have the biggest impact on the bitcoin price due to the effect they have on the supply of available Bitcoin. Taking this point further, they also have the largest amount of power in terms of what types of improvements are made to the Bitcoin protocol because everyone in the system is incentivized to make the native tokens on the platform as valuable as possible.
the hodlers have the biggest impact on the bitcoin price due to the effect they have on the supply of available Bitcoin. Taking this point further, they also have the largest amount of power in terms of what types of improvements are made to the Bitcoin protocol because everyone in the system is incentivized to make the native tokens on the platform as valuable as possible.
As far as I know no one controlling the bitcoin system because all of the users the one who controls bitcoin, we are the one who controls the price, and bitcoin is made for everyone. But we don't know who are behind of this great technology.
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.
Is this true?
I hear about checkpoint key and an alert key for the first time and there is nothing to find on the internet.
If somebody can explain this I will be appreciated.
It would be unjust to say that the real value to Bitcoins come from their community especially from it's users who literally use Bitcoin for medium of exchange than the store of value.All others all milking that glory of Bitcoins for their own convenience.
Bitcoin has no governing body. It is completely run by the people who use it. Bitcoin miners have a certain level of control over the way the system is runned.
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.
It is very different than a mobile app or anything you mentioned above. Here's a link for beginners on how to understand the technology
Actually, there's ton of information out there for you ponder.
https://blockgeeks.com/guides/what-is-blockchain-technology/
The beauty of BTC is that it is decentralized and distributed, which means it is not controlled by a single entity like fist currency is controlled by central governments. All BTC community members are rightful owners of BTC. Having so many owners make BTC free from any sort of manipulations.
So we can say BTC is controlled by no one.
So we can say BTC is controlled by no one.
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 don't think anyone can control the bitcoin network. It is controlled by all the bitcoins. bitcoin is scattered, no one can control the price of the bitcoin , it is all the bitcoin holders search control, some developers can only do some of the extra service for bitcoin 
There is no authority or an individual that controls Bitcoin. It could be said that Bitcoin is controlled by community. Community includes all the users, developers, miners, etc. No one can individually enforce a change in Bitcoin. But a group of people who hold a great amount of Bitcoins together can do so by agreeing with each other. In addition to this, government regulation, innovations in technology and its acceptance rate can also influence the Bitcoin system.
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