Who controls the Bitcoin system? - page 9.

Lintel

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Quote from: Fairy_90 on March 12, 2018, 11:23:51 PM

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.

yes nobody is controlling the bitcoin system of bitcoin network. Bitcoin is being controlled by all bitcoin users around the world. And also bitcoin users are free to chose what software they will going to use. so no one can contoll it not the government and not the bank.

Kousei23

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Quote from: Fairy_90 on March 12, 2018, 11:23:51 PM

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.

No one controlled bitcoin system because we all know that bitcoin is a decentralized cryptocurrency which means no one is controlling it yet the control of it is the hand of the one who are using it. Now, many people are into bitcoin making it more good in terms earnings and the value of it are affected through the numbers of users who are rapidly increasing so the true one who is controlling bitcoin is us, the users.

Cofuchu

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It's very difficult to say that someone controls bitcoin, it's still a blockchain technology and difficult to track, if possible at all. If you say so, then a coin owner can control it himself.

LuciferEveningStar

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Quote from: Fairy_90 on March 12, 2018, 11:23:51 PM

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.

The transactions are made by an algorithm called block chain and in order for the bitcoins to grow its value then it will be still depending on the people who are going to invest on it if they will prefer bitcoins or they will rather choose another cryptocurrency.

Blessed J

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The idea of bitcoin is based on the ethereum blockchain technology. The blockchain technology deals with decentralisation and not centralisation so no one person controls the bitcoin system.This makes transactions and data storage on the blockchain technology easy and safer.

alexn3620

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Technology blokchain does not belong to anyone, in fact is its advantage, the network is decentralized. Another question is the price of bitcoin and who influences it.

adi33

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RealistaToken.com

Quote from: patykuprova on March 22, 2018, 06:24:21 PM

Quote from: catok broek on March 22, 2018, 05:08:26 PM

Quote from: Fairy_90 on March 12, 2018, 11:23:51 PM

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 think market control bitcoin. because of decentralized system attached on bitcoin, its volatility proves that market puts its hand on bitcoin. Miners and traders are players that take profit from the volatility of bitcoin.

Not only markets, i think the news controls Bitcoin also, if they just release some bad news about Bitcoin like Bitcoin was banned in somewhere than the price will be dropped insane.
The market will be a mess if there is a crazy news also.

Of course many bitcoin schemes are one can be an influence in market prices. besides the demand from the market itself that makes it down or up. so far I think it's someone who can control the price. people who have enough money

dexterbit

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In my opinion that it's decentalised and therefore isn't controlled by anyone,but then there are obviously patterns in its behaviour that it is following.That means that there's stuff that affects it and goes into it.

kirito1614

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The special case who can control bitcoin is its clients. the engineers just encourage to give virtual wallet administrations to bitcoin clients without having the capacity to change the framework actualized by bitcoin with blockchain innovation. With it, unadulterated bitcoin is controlled by every one of its clients so the cost likewise relies upon the deal and buy exercises in different bitcoin commercial center and value vacillations through the concurrence with the clients. In any case, the one of a kind component of this innovation is that bitcoin exchanges are affirmed by mineworkers and recorded on every single associated server around the globe.

rickyNmorty

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Investor

Bitcoin is not controlled by a single person, that's why it is decentralized. Now, when we talk about decentralization of bitcoin a lot of us are thinking that bitcoin isn't originating from a single country, which is true however, partly incorrect. Bitcoin does not come from any single country and moreover, isn't controlled by a single entity. So we could say that we, the investors abd enthusiasts, are the one thst controls the tides of bitcoin's fate.

AntonisZ

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We are not only the people we control the bitcoin as you said before.. it's a conversation which have written over the years..but personally i think only a piece of Strong people, own and control its power..

freshm4ker

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To me the bitcoin is controlled by all of its users partly around the world because the system is transparently decentralized that nobody should remain compatible with each other using bitcoins that can control this all. Cool

dimastegar

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Small Trader

Bitcoin is controlled by everyone who has Bitcoin. All market demand is because we are trading Bitcoin. And by trading, we've helped keep the cycle of the crypto market. As much as possible and as long as we are still trading Bitcoin and Altcoin, that is the price of a given coin.

patykuprova

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Quote from: catok broek on March 22, 2018, 05:08:26 PM

Quote from: Fairy_90 on March 12, 2018, 11:23:51 PM

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 think market control bitcoin. because of decentralized system attached on bitcoin, its volatility proves that market puts its hand on bitcoin. Miners and traders are players that take profit from the volatility of bitcoin.

Not only markets, i think the news controls Bitcoin also, if they just release some bad news about Bitcoin like Bitcoin was banned in somewhere than the price will be dropped insane.
The market will be a mess if there is a crazy news also.

janelleshepard

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Noone controls Bitcoin system at all because it was built by the blockchain system and there are only blocks in this system not controller.
The only thing you can control in Bitcoin is the price which is very insane in every moments. Sometimes it was dump and sometimes it was pump but invest in it will be profit all the time.

catok broek

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Quote from: Fairy_90 on March 12, 2018, 11:23:51 PM

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 think market control bitcoin. because of decentralized system attached on bitcoin, its volatility proves that market puts its hand on bitcoin. Miners and traders are players that take profit from the volatility of bitcoin.

laryillary

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Activity: 238

Merit: 11

Bitcoin does not belong to anyone. This technology can be used by anyone who follows the rules of this currency.
It is not controlled by any central bank, and the person who first proposed the use of bitcoin for several years does not make itself felt.
Everyone can make sure that this currency does only what it is supposed to do, and its creator no longer controls operations with bitcoins.
Now it is the responsibility of independent developers. That is, bitcoin has become a so-called open source software, which can be downloaded and used for free at your own discretion.

Zicadis

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Dump it!!!

Quote from: Fairy_90 on March 12, 2018, 11:23:51 PM

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.

In some technical way the devs do have some control of it via a consensus that's why bitcoin in the past was able to be forked but if you mean a person having the power to hit the on/off switch I think the control lies within the decentralised computers scattered all around the world with no stop or start button and you can not compare btc to an app thats wrong!! Apps are easy to hack as compared to bitcoin which is a complex unhackable technology.

Sumo

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Quote from: Fairy_90 on March 12, 2018, 11:23:51 PM

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.

Technology and the bitcoin system is decentralized. But I do not rule out the fact that digital currencies can be managed by someone.

Palmholder

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Miners control bitcoin. Yes, they compete each with other and noone has monopoly, anyway they may collaborate theoreticly. They decide which transaction will be include to next block, so we all depend from them. They also keep 1mb block size because they want to get high fees

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