Who controls the Bitcoins? - page 17.

Fatanut

legendary

Activity: 1008

Merit: 1060

Quote from: deisik on January 08, 2017, 05:05:16 AM

Quote from: Fatanut on January 06, 2017, 05:13:44 AM

Quote from: marseille on January 05, 2017, 11:25:23 PM

It's a good question who controls the bitcoin. I think a group of dev controls it. Because for bitcoin, there are some private keys (for checkpoint and alert) that if one has it, he will be able to propagate his own blocks into the network. I think a few people hold the private keys there.

There's actually a website that has the private keys of all the bitcoin addresses. Funny because even if you do have it all saved on a .txt file, if will take you a lot of power and time (even years) before you can find the private key of a specific wallet. There have been discussion about this in this forum. There are just too many bitcoin addresses available and I really mean way many for you to be able to control bitcoins or hack someone using the list of all private keys.

I'm curious why people still believe in this nonsense

The site you refer to can't contain the private keys of all potentially possible bitcoin addresses by any chance since just to store them in some format would require all the Universe converted to storage devices and that would likely still not suffice. The guy who started that thread (I won't post a link so as not to promote it) is a shill who is deliberately spreading outright FUD. If the point is that the site can calculate all bitcoin addresses, I can just as well claim that the algorithm for calculating a Bitcoin key already contains all possible keys itself

The sleep of reason produces monsters

I've found the website that's on my mind. It's http://directory.io/. I thought you might be interested. Grin

I'm not sure what's on your mind, though. It does say that it generates the keys depending on the page (read: FAQ). If anyone wants some more explanation as to why your private keys can't be found using things like this, read this reddit post.

All links came from directory.io itself.

Blitzboy

hero member

Activity: 1316

Merit: 561

Leading Crypto Sports Betting & Casino Platform

Quote from: agamasrori on January 07, 2017, 06:21:04 PM

Quote from: blackstone on January 07, 2017, 02:26:06 PM

nobody has control over bitcoins .it is totally anonymous and it actually runs on an algorithm and people have started accepting it as currency in their way and starting valuing them thats y it is in this world it has so much important.

Yes you are right, but if there is someone has so many amount of bitcoin to influence bitcoin price is really possible. Bitcoin is mostly traded using chinese yuan. So I think china is control it.

China is really having a big influence on the price of bitcoin and it does have many traders as well as miners. But the thing is that not China nor the people in it controls bitcoin, even bitcoin's inventor is still remain a myth to us, so it does seem that China is the big boss but no, nobody controls bitcoin, not us nor China nor aliens Grin

hajimasan

hero member

Activity: 882

Merit: 500

It is not any official currency of any country or organization. But it's a myth or something like that bitcoin is official currency of internet. Yes it's true that bitcoin rules the cryptocurrency world.

deisik

legendary

Activity: 3514

Merit: 1280

English ⬄ Russian Translation Services

Quote from: Fatanut on January 06, 2017, 05:13:44 AM

Quote from: marseille on January 05, 2017, 11:25:23 PM

It's a good question who controls the bitcoin. I think a group of dev controls it. Because for bitcoin, there are some private keys (for checkpoint and alert) that if one has it, he will be able to propagate his own blocks into the network. I think a few people hold the private keys there.

There's actually a website that has the private keys of all the bitcoin addresses. Funny because even if you do have it all saved on a .txt file, if will take you a lot of power and time (even years) before you can find the private key of a specific wallet. There have been discussion about this in this forum. There are just too many bitcoin addresses available and I really mean way many for you to be able to control bitcoins or hack someone using the list of all private keys.

I'm curious why people still believe in this nonsense

The site you refer to can't contain the private keys of all potentially possible bitcoin addresses by any chance since just to store them in some format would require all the Universe converted to storage devices and that would likely still not suffice. The guy who started that thread (I won't post a link so as not to promote it) is a shill who is deliberately spreading outright FUD. If the point is that the site can calculate all bitcoin addresses, I can just as well claim that the algorithm for calculating a Bitcoin key already contains all possible keys itself

The sleep of reason produces monsters

agamasrori

sr. member

Activity: 364

Merit: 250

Quote from: blackstone on January 07, 2017, 02:26:06 PM

nobody has control over bitcoins .it is totally anonymous and it actually runs on an algorithm and people have started accepting it as currency in their way and starting valuing them thats y it is in this world it has so much important.

Yes you are right, but if there is someone has so many amount of bitcoin to influence bitcoin price is really possible. Bitcoin is mostly traded using chinese yuan. So I think china is control it.

hurain

sr. member

Activity: 462

Merit: 250

Quote from: bncbnc on January 06, 2017, 10:00:59 AM

Quote from: marseille on January 05, 2017, 11:25:23 PM

It's a good question who controls the bitcoin. I think a group of dev controls it. Because for bitcoin, there are some private keys (for checkpoint and alert) that if one has it, he will be able to propagate his own blocks into the network. I think a few people hold the private keys there.

bitcoin is not under the control of a single person or group, because they cannot hae access to all the bitcoins address and wallets that belong to a particular person. to me those people who are holding bitcoins are the real owner of bitcoin and they can control such amount of bitcoins.

although most of the people think that Chinese are controlling bitcoin but to me i do not think so, i think bitcoin is a universal decentralize currency of the world and is not going going to be under control of a single country, actually the users of bitcoin are spread in all over the world and therefore it is as comparably hard to turn it as decentralize currency.

GMPoison

sr. member

Activity: 434

Merit: 250

Quote from: Tanic on January 07, 2017, 02:17:17 PM

I think that's investors who control bitcoins. When it appear more investors who are ready to invest in bitcoin it's price is rising. And when bitcoin holders are selling bitcoin the price is going down.

The title doesn't say "who controls bitcoins price" though, technically speaking no one owns bitcoin because it's decentralized by nature.

blackstone

newbie

Activity: 21

Merit: 0

nobody has control over bitcoins .it is totally anonymous and it actually runs on an algorithm and people have started accepting it as currency in their way and starting valuing them thats y it is in this world it has so much important.

Tanic

sr. member

Activity: 294

Merit: 250

I think that's investors who control bitcoins. When it appear more investors who are ready to invest in bitcoin it's price is rising. And when bitcoin holders are selling bitcoin the price is going down.

Tanic

sr. member

Activity: 294

Merit: 250

I think that's investors who control bitcoins. When it appear more investors who are ready to invest in bitcoin it's price is rising. And when bitcoin holders are selling bitcoin the price is going down.

20kevin20

legendary

Activity: 1134

Merit: 1598

Quote from: Frank Alister on January 07, 2017, 01:06:59 PM

Nobody and everyone who use it. It's very simple, because people have the opportunity to change the price. There are not many rules and if you think about it there are no rules at all. So nobody specific controls it.

Exactly, we can change it in a second by only selling BTC for over $2000. The price is the amount we want to sell Bitcoin for. Except that, we also got the demand and the events which are influenting the change. BTC is controlled by us, that's why it's known as "being your own bank": you control all your wallets and transactions, even the fees.

Frank Alister

member

Activity: 99

Merit: 10

Nobody and everyone who use it. It's very simple, because people have the opportunity to change the price. There are not many rules and if you think about it there are no rules at all. So nobody specific controls it.

gilangIDR

legendary

Activity: 1526

Merit: 1001

I do not think there will be someone who can control the bitcoin. may have a great community that can move bitcoin, especially moving bitcoin prices in world financial markets.

slapper

legendary

Activity: 1946

Merit: 1100

Leading Crypto Sports Betting & Casino Platform

Quote from: webtricks on January 07, 2017, 04:14:46 AM

Bitcoin is based on simple principle of Decentralisation.
The owner of Bitcoin is the one holding it.
Everyone who own Bitcoin are the owner of their Bitcoin. Once people transfer Bitcoin to other, it envolves transfer of ownership too!!

I totally agree. People are free to control their Bitcoin and no individual or government can govern other people's Bitcoin. Thanks to this system, Bitcoin can be considered as the most anonymous currency on this planet. However, the Bitcoin prices can be controlled. WHy? The China is the answer. They have over 50% of Bitcoin and 50% of mining pool in their country. This is the main reason why they can easily bump the coin and dump it

webtricks

legendary

Activity: 1918

Merit: 1728

Bitcoin is based on simple principle of Decentralisation.
The owner of Bitcoin is the one holding it.
Everyone who own Bitcoin are the owner of their Bitcoin. Once people transfer Bitcoin to other, it envolves transfer of ownership too!!

strasboug

sr. member

Activity: 504

Merit: 250

Quote from: Fatanut on January 06, 2017, 05:13:44 AM

Quote from: marseille on January 05, 2017, 11:25:23 PM

It's a good question who controls the bitcoin. I think a group of dev controls it. Because for bitcoin, there are some private keys (for checkpoint and alert) that if one has it, he will be able to propagate his own blocks into the network. I think a few people hold the private keys there.

There's actually a website that has the private keys of all the bitcoin addresses. Funny because even if you do have it all saved on a .txt file, if will take you a lot of power and time (even years) before you can find the private key of a specific wallet. There have been discussion about this in this forum. There are just too many bitcoin addresses available and I really mean way many for you to be able to control bitcoins or hack someone using the list of all private keys.

I don't think you get what marseille said. He meant that in bitcoin, there are two private keys, not for wallet, but bitcoin itself. One private key is for checkpoint. If you have it, you can define the mandatory checkpoint that every other client will accept. Thus you can propagate your own blocks. I know this is true for the old version of bitcoin, not sure if this is changed or not. These private keys are controlled by a few devs in the inner circle of the bitcoin.

adi33

hero member

Activity: 630

Merit: 500

RealistaToken.com

Bitcoin fluctuates according to me that regulate bitcoin is the market price. because bitcoin price goes up because people are buying it. Now when a lot of people who sell bitcoin might no longer marketable

delliaerd

hero member

Activity: 672

Merit: 500

Prbably china is control bitcoin for this time, approximately 80% of total transaction bitcoin currently trading using chinese yuan. Although USA, Japan and Russia were start to be big player of bitcoin but still need time for this. So many people in china try to move their wealth to outside of their country, becouse the government try to control their money. So I think china will keep their domination of bitcoin.

Positid

sr. member

Activity: 378

Merit: 250

BULL RUN until 2030

Quote from: Bitcoinsummoner on January 06, 2017, 11:09:46 AM

Quote from: bncbnc on January 06, 2017, 10:00:59 AM

Quote from: marseille on January 05, 2017, 11:25:23 PM

It's a good question who controls the bitcoin. I think a group of dev controls it. Because for bitcoin, there are some private keys (for checkpoint and alert) that if one has it, he will be able to propagate his own blocks into the network. I think a few people hold the private keys there.

bitcoin is not under the control of a single person or group, because they cannot hae access to all the bitcoins address and wallets that belong to a particular person. to me those people who are holding bitcoins are the real owner of bitcoin and they can control such amount of bitcoins.

Yeah i think we are the only who control bitcoin since if we are not investing and buying more bitcoin the price will not increase and bitcoin is decentralized even china has a largest bitcoin farm they are just holding a large number of bitcoin but we are not centralized..

That's what makes it a wonderful place to stay, the government cannot manipulate bitcoin as it's solely based on our demand. With less demand means less support and bitcoin will not progress.

Bitcoinsummoner

hero member

Activity: 1456

Merit: 624

Maintain Social Distance, Stay safe.

Quote from: bncbnc on January 06, 2017, 10:00:59 AM

Quote from: marseille on January 05, 2017, 11:25:23 PM

It's a good question who controls the bitcoin. I think a group of dev controls it. Because for bitcoin, there are some private keys (for checkpoint and alert) that if one has it, he will be able to propagate his own blocks into the network. I think a few people hold the private keys there.

bitcoin is not under the control of a single person or group, because they cannot hae access to all the bitcoins address and wallets that belong to a particular person. to me those people who are holding bitcoins are the real owner of bitcoin and they can control such amount of bitcoins.

Yeah i think we are the only who control bitcoin since if we are not investing and buying more bitcoin the price will not increase and bitcoin is decentralized even china has a largest bitcoin farm they are just holding a large number of bitcoin but we are not centralized..

Topic: Who controls the Bitcoins? - page 17. (Read 46445 times)