Who controls the Bitcoins? - page 20.

RhodaGila

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Quote from: PhilipPens on February 09, 2016, 05:15:29 AM

Who in the world controls the bitcoin? I don't understand where it appeared and how it began to be one of the official currencies?
Who controls the course of Bitcoin?

I guess we all holders Bitcoin Bitcoin is the controller itself. Maybe it could be distinguished with only nominal, large holders Bitcoin with a small portion Bitcoin holders.
When asked who could control, I myself do not know, but the possibility of the largest Bitcoin owner who can do it.

Silberman

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Quote from: PhilipPens on February 09, 2016, 05:15:29 AM

Who in the world controls the bitcoin? I don't understand where it appeared and how it began to be one of the official currencies?
Who controls the course of Bitcoin?

It depends what you mean, if you mean the network then that is controlled by the miners, if you mean the price then that is controlled by regular users and the traders, if you mean the development of bitcoin, then the developers control that, and if you mean specific bitcoins in an address then those are controlled by whoever has the private keys.

kidoseagle0312

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Quote from: Learn007 on February 09, 2016, 09:55:53 AM

No one controls bitcoins, that is what i like about bitcoins that is it's decentralized nature.
If anyone really controls it than i think they are the Chinese miners which have a great influence on bitcoins.

It is true that nobody can control bitcoins. And even the Chinese community has a big miners plant it doesn't mean they control it. It is still decentralized nature and it will never be change at all ever.

jak3

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the common public are the actull control of bitcoin..in general sence but theoritically satoshi nakamoto was the creator of bitcoin and he made a system where people(developers) can control bitcoin using many types of keys or we can say types of permissions

ruselbd

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Nobody truly has control of bitcoin in light of the fact that it is decentralized in nature. individuals may have these private and open keys to take control however that doesn't imply that someone in particular or individuals taking control of the entire bitcoin thing.

kwuccduck

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Quote from: gamerfan on December 30, 2016, 02:34:27 PM

In theory, no one.
In practice, big miners.

Cryptocurrency - a new technology. People will learn to use it, and teach others. In bitkoina, in my opinion, great potential. But we need more time to understand how it affects the traditional financial system.

dimonchik13

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Many international financial corporations and the government will try to impose restrictions on financial platforms, which are engaged in transactions with cryptocurrency to get them to follow international agreements.

tripplewarz

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Quote from: pyata4ok on December 30, 2016, 03:31:07 PM

Today, bitcoin want to control everything, but I do not think that this is someone that will. The main advantage of bitcoin is anonymity and no one will use it if it is lost.

all real signs cryptocurrency that haunt the governments of some countries, because they can not control it, and make bitcoin special.

pyata4ok

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Today, bitcoin want to control everything, but I do not think that this is someone that will. The main advantage of bitcoin is anonymity and no one will use it if it is lost.

Bitcoinsummoner

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Maintain Social Distance, Stay safe.

Quote from: Positid on December 20, 2016, 01:19:01 AM

Quote from: QuestionAuthority on December 19, 2016, 08:44:39 PM

Quote from: gembitz on December 19, 2016, 11:56:28 AM

^ya in the early days ~20000BTC was like chump change Grin

*bath salts lol

Yep, that was the feeling. It's also the reason so many early bitcoiners ended up losing or spending much of those early mines coins. Those coins were just "bath salts" to them. LOL

We are talking about the past but we need to face the current now, probably in the future if bitcoin will fail then altcoins will rule and we are talking here again like what if we bought that particular altcoin before. In short, nobody sees the future, and whatever our reaction now is just right with the current situation.

Well i think it is impossible that altcoin will be replace bitcoin since bitcoin is already proven and uses by many company and people.. they are trusting because you see that the price are gradually increase and i think we are still from beginning and its still not late to hold more bitcoins for our future..
Maybe more price increase will come with bitcoin since we are just few users of bitcoin i think if bitcoin will be more impression and more adoption will come we will see more price increase.. for those who knows bitcoin before they are already rich.. and i think for those who are not letting their bitcoin to hold for a long time i think they are regretting and now they are holding again back just to get benefits of the price increased.

QuestionAuthority

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You lead and I'll watch you walk away.

Quote from: Gilf on December 30, 2016, 02:32:08 PM

Quote from: Positid on December 20, 2016, 01:19:01 AM

Quote from: QuestionAuthority on December 19, 2016, 08:44:39 PM

Quote from: gembitz on December 19, 2016, 11:56:28 AM

^ya in the early days ~20000BTC was like chump change Grin

*bath salts lol

Yep, that was the feeling. It's also the reason so many early bitcoiners ended up losing or spending much of those early mines coins. Those coins were just "bath salts" to them. LOL

We are talking about the past but we need to face the current now, probably in the future if bitcoin will fail then altcoins will rule and we are talking here again like what if we bought that particular altcoin before. In short, nobody sees the future, and whatever our reaction now is just right with the current situation.

Can anyone say something specific about the future cryptocurrency? Each user desires and hopes. Projections for the future bitcoin as strong, but it can be.

I hope all the day traders currently pumping the shit out of Bitcoin never lose their momentum.

gamerfan

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BUY BITCOIN WITH PAYPAL AND CREDIT CARDS

In theory, no one.
In practice, big miners.

Gilf

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Quote from: Positid on December 20, 2016, 01:19:01 AM

Quote from: QuestionAuthority on December 19, 2016, 08:44:39 PM

Quote from: gembitz on December 19, 2016, 11:56:28 AM

^ya in the early days ~20000BTC was like chump change Grin

*bath salts lol

Yep, that was the feeling. It's also the reason so many early bitcoiners ended up losing or spending much of those early mines coins. Those coins were just "bath salts" to them. LOL

We are talking about the past but we need to face the current now, probably in the future if bitcoin will fail then altcoins will rule and we are talking here again like what if we bought that particular altcoin before. In short, nobody sees the future, and whatever our reaction now is just right with the current situation.

Can anyone say something specific about the future cryptocurrency? Each user desires and hopes. Projections for the future bitcoin as strong, but it can be.

Positid

sr. member

Activity: 378

Merit: 250

BULL RUN until 2030

Quote from: QuestionAuthority on December 19, 2016, 08:44:39 PM

Quote from: gembitz on December 19, 2016, 11:56:28 AM

^ya in the early days ~20000BTC was like chump change Grin

*bath salts lol

Yep, that was the feeling. It's also the reason so many early bitcoiners ended up losing or spending much of those early mines coins. Those coins were just "bath salts" to them. LOL

We are talking about the past but we need to face the current now, probably in the future if bitcoin will fail then altcoins will rule and we are talking here again like what if we bought that particular altcoin before. In short, nobody sees the future, and whatever our reaction now is just right with the current situation.

QuestionAuthority

legendary

Activity: 2156

Merit: 1393

You lead and I'll watch you walk away.

Quote from: gembitz on December 19, 2016, 11:56:28 AM

^ya in the early days ~20000BTC was like chump change Grin

*bath salts lol

Yep, that was the feeling. It's also the reason so many early bitcoiners ended up losing or spending much of those early mines coins. Those coins were just "bath salts" to them. LOL

phantas1isback

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I think that every bitcoin user controls it

choppork

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Quote from: audaciousbeing on December 19, 2016, 12:12:59 PM

Why should I bother myself with who controls Bitcoin when the total of the Bitcoin I have is not even up to 1 btc that I have garnered.

Yes.

You have not much bitcoins because you haven't invested any of your fiat into bitcoins. You're enrolled in a signature campaign so I'm assuming that your bitcoins came from that. You are enrolled in Byteball just like me at the moment I'm posting this. That means you need to make 30 posts in a week to get paid. You're consuming time and you're exerting effort to reach that requirement. That's an investment.

Assuming someone has the power to control our bitcoins like transferring our coins into his bitcoin wallet and yours got transferred to his, then all of your efforts would go to waste.

What I'm trying to say is that no matter how little your bitcoins is compared to how much other people has, you should mind all these things. You should be aware of these things.

RichTeam

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Bitcoin control by nobody but everybody could earn bitcoin with mining using PC (CPU or GPU) or Other hardware with higher hash rate to increase the mathematical problem solutions which will produce bitcoin as the reward..! Bitcoin is stronger than other currencies because it prevent corruption due to only limited bitcoin will be produce at certain time, but other currencies which relied on banks exposed to corruption because banks are printing money and the cost to produce $100 paper lower than 50 silver cent. Hope it make sense..! Million of Thanks to Satoshi for Invented Bitcoin..! Cool

audaciousbeing

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Why should I bother myself with who controls Bitcoin when the total of the Bitcoin I have is not even up to 1 btc that I have garnered. Even people who have more than me does not even bother themselves why me? But that will not be the case if I have upto like 100btcs with that I know that will be a lot of my wealth tied down I will want to know as a result of that but for now, its basically the function of demand and supply that controls Bitcoin.

gembitz

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*Brute force will solve any Bitcoin problem*

Quote from: QuestionAuthority on December 19, 2016, 10:45:42 AM

Quote from: tee-rex on December 19, 2016, 06:26:57 AM

Quote from: QuestionAuthority on December 18, 2016, 02:30:35 PM

It's really not that hard to start a panic. A well placed story with a small sell off can start a run especially in Bitcoin. See, that's where you're understanding fails. There's nothing respectable or to be respected in being an early adopter. I know a few of them and have met them in person, face to face. Some of them are clowns and dumbasses. One of them is nothing more than a drug addict. But all of them share one thing in common. They acquired Bitcoin early on. That has everything to do with luck of the draw and nothing to do with respect but you don't understand that. Very few people mined them with a CPU. You should call them founders not early adopters. Your talking about people with an in-depth understanding of cryptography, mathematics, economics and coding that allowed them to see the value of something that was worth nothing at the time.

Well, I sort of agree with you that there may be nothing in being an early adopter to be respected for, but people still tend to respect people with money, even if the money they have got was no more than luck alone or was obtained illegally. Of course, not all people are like this, but in general people would certainly prefer to be friends of those dudes than their enemies. Do the people you described still possess the bitcoins which they acquired early on?

Ok, you get it. I agree average individuals respect people with money. For some reason they believe the acquisition of wealth equals intelligence and understanding on a level beyond their abilities. You're right, they absolutely do want to be friends with wealthy people which is inexplicable to me. Every wealthy person I've ever known has been a raging asshole that believes the world owes them something. Maybe they feel some of that understanding will pass to them or maybe they are simply looking for a handout, I don't know.

It's impossible to know exactly how many early miners are still holding their bitcoins. I suspect that more than a million btc mined by Satoshi are lost because they have never moved. There has been plenty of bubble spikes that would be awfully tempting to someone with that many btc. At any point he could have cashed out some and bought himself a nice island to retire on. He needed to mine to keep the currency going but perhaps he chose to destroy those early coins believing his invention (his baby) could be killed by a saboteur if they fell into the wrong hands. We could live the rest of our lives only to see those coins never move and not know why.

I have spoken to people like Ray Dillinger (original tester of Bitcoin with Hal Finney), BitcoinFX (still active on this forum) and many others that say they spent and didn't keep large quantities of the early mined Bitcoin believing it would never be valued as high as it is now. To many of them it was "magic internet money" that they spent buying a 20,000 btc pizza and donating to faucets to bring new users on board. I still have 20 or so btc that I got from faucets. Can you believe they used to just give whole bitcoins away at faucets? Crazy right? Are the founders of Bitcoin lying and sitting on masses of btc? I don't think so. If you parse the blockchain you will see lots of movement of early coins after the Satoshi coins were mined. That means whoever mined those coins sent them somewhere but was it to another wallet under their control? The truth is we will never really know for sure how much they are holding.

I just thought of one other example of how little Bitcoin meant to people back then. Did you know that to become a VIP member of this forum you had to donate 50 btc? At the ATH of Bitcoin that amounts to a $60,000 donation to be a VIP member of an obscure little forum. If that doesn't tell you how stupid rich people are nothing will. ROFL

^ya in the early days ~20000BTC was like chump change Grin

*bath salts lol

Topic: Who controls the Bitcoins? - page 20. (Read 46401 times)