Who controls the Bitcoins? - page 28.

Sponsoredby15

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Quote from: PhilipPens on February 09, 2016, 04:15:29 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?

Every one has access to bitcoin world if they want to know more about bitcoin, People are controling the bitcoin itself but most of users of bitcoin are from USA nor CHINA.. It's beginning and i know that bitcoin has big features to be true and that will become true when people keep using it. Every traders can control the course of bitcoin.

drwtsn32

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If there is someone who's controlling bitcoin it's gonna be us. All of us.
The market moves according to the transactions that each of us make.

wahb

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to me i think no one is controlling bitcoin, as bitcoin is anonymous and decentralized currency of the world having same value everywhere therefore in fact no one is controlling it.

Rinder

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Quote from: shinratensei_ on December 03, 2016, 06:11:03 PM

Quote from: ivan.daineko23 on December 03, 2016, 04:05:57 PM

In the network there are messages with information that Bitcoin and Blockchain system is controlled by a small group of people, and that the network is close to the technical collapse. The mechanisms that
were supposed to prevent this collapse, broken, and as a result there is no sense to dream that Bitcoin could be better than the existing financial system.

I don't agree if bitcoin has controlled by a small group but it possible for blockchain.
Yes, it could. Bitcoin was already better than the current financial system.
Public or private blockchain has controlled by some people(dev).
But no one for bitcoin, except with 51% hash attack and 51% nodes attack make it possible.

I do believe what is trying to say its there is a group under bitcoin that is manipulating it, pumping and dumping it, since they should get a big ammount of bitcoin as well a lot money to play this game, i wouldnt be surprised a group being manipulating the price of bitcoin where the most think and believe are the big farmers making those. Currently big miners, early adopters, some exchanges as well some casinos, besides the scammers that steel a lot of bitcoin.

shinratensei_

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Quote from: ivan.daineko23 on December 03, 2016, 04:05:57 PM

In the network there are messages with information that Bitcoin and Blockchain system is controlled by a small group of people, and that the network is close to the technical collapse. The mechanisms that were supposed to prevent this collapse, broken, and as a result there is no sense to dream that Bitcoin could be better than the existing financial system.

I don't agree if bitcoin has controlled by a small group but it possible for blockchain.
Yes, it could. Bitcoin was already better than the current financial system.
Public or private blockchain has controlled by some people(dev).
But no one for bitcoin, except with 51% hash attack and 51% nodes attack make it possible.

MMA

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Quote from: elena-tur on December 03, 2016, 02:01:07 PM

Bitcoin is not controlled by any central bank, and the person who first suggested using Bitcoin, for several years makes itself felt. People are their own masters.

yes that is a fact that bitcoin is not under control of any government, forum, group of people any other single person, everyone is the master of bitcoin he is owning, as he has the right to use bitcoin according to their own wishes.

ivan.daineko23

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In the network there are messages with information that Bitcoin and Blockchain system is controlled by a small group of people, and that the network is close to the technical collapse. The mechanisms that were supposed to prevent this collapse, broken, and as a result there is no sense to dream that Bitcoin could be better than the existing financial system.

klarki

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Why China? I'm afraid we never know for sure.

talldarknhandsm

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I think as long as there are no problems it doesn't matter who controls it. If a problem comes up, the community is usually on top of it. It has never been a problem before. So control is not an issue.

WarThunder

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Quote from: seven2smoke1 on December 03, 2016, 02:47:36 PM

I think china has the big hand of bitcoin, Large community means more control of bitcoins.

Over the past few months, the digital currency Bitcoin has attracted a lot of attention. Along with him came to misunderstanding and confusion about the nature and role of the currency. The main reason lies in the fact that people do not understand how the Bitcoin, because people basically do not understand how currency works.

danherbias07

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Quote from: seven2smoke1 on December 03, 2016, 02:47:36 PM

I think china has the big hand of bitcoin, Large community means more control of bitcoins.

I dont really believe that. Before anything else it was Americans who are mining and they really have mined a lot way back because it was still fast to mine thousands of coin. They may be just watching to what will happen and just storing their coins.

seven2smoke1

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I think china has the big hand of bitcoin, Large community means more control of bitcoins.

eminem90

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If the state will try to control the Bitcoin is not so simple. Lawmakers have not yet kept pace with all the changes. They, of course, have to come up with the new laws, because the old financial control circuit in Bitcoin is simply not calculated because cryptocurrency goes beyond the traditional foreign exchange instruments.

elena-tur

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Bitcoin is not controlled by any central bank, and the person who first suggested using Bitcoin, for several years makes itself felt. People are their own masters.

deisik

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Quote from: ?? on ??

Today arbitrage between exchanges almost lost relevance in spite of the huge number of automated trading systems working in this direction. Working with a fork at the start rather risky business, fraught with both great opportunities and great losses.

Arbitrage likely lost relevance thanks to the "huge number of automated trading systems", not in spite of them. Though I don't know if it actually lost relevance since I didn't try arbitrage for a long time already. But I can say that with some altcoins arbitrage is still possible due to the very special properties of their price quotation, which essentially makes such trading systems almost meaningless...

Though they are still useful for price and order tracking (if trading API allows that)

deisik

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Quote from: wxa7115 on November 29, 2016, 06:41:01 PM

Quote from: rizkyhiw on November 28, 2016, 05:46:54 PM

Quote from: agamasrori on November 28, 2016, 05:10:45 PM

Quote from: babyjesusftw1 on November 28, 2016, 12:03:53 PM

No centralized agency or organization does, that's why it is so great! Supply and demand dictates the value, not a government. Its value is completely in the hands of the general public.

Yeah, you get the point. The control is in our hands. I do not want the government control my money. Like happen to yunani people. People in china were buy bitcoin for avoid government control too.

the control is on our hand yeah , so if chinese group sell all their bitcoin
which it's a lot , what do you think would happened?
and buy back again in mass , this is looks controlable.

But that is nothing new, the powerful and the rich can control and manipulate fiat too, and the market for fiat is a lot bigger than the market of bitcoin so while bitcoin is a decentralized currency, bitcoin is still subject to manipulation like any other currency of then world.

I'd say it is prone to manipulation in a substantially higher degree

Bitcoin can be manipulated by far more easily than any major fiat currency out there simply because there are a few hundred people who hold most of bitcoins mined till now, so they can without any difficulty or exertion dump the price if they choose so. In addition to that, most bitcoins that are in circulation today are traded, and there is no safety cushion that merchants and vendors provide to a currency when they are using that currency for the exchange of goods they happen to sell or produce

rizkyhiw

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Quote from: jackg on November 28, 2016, 06:05:40 PM

Quote from: rizkyhiw on November 28, 2016, 05:46:54 PM

Quote from: agamasrori on November 28, 2016, 05:10:45 PM

Quote from: babyjesusftw1 on November 28, 2016, 12:03:53 PM

No centralized agency or organization does, that's why it is so great! Supply and demand dictates the value, not a government. Its value is completely in the hands of the general public.

Yeah, you get the point. The control is in our hands. I do not want the government control my money. Like happen to yunani people. People in china were buy bitcoin for avoid government control too.

the control is on our hand yeah , so if chinese group sell all their bitcoin
which it's a lot , what do you think would happened?
and buy back again in mass , this is looks controlable.

It is very contorllable. However, if you sell the bitcoin and buy them back again you wouldn't really be gaining much money (you'd actually be losing money instead).

Once the price falls, even by a small amount, the demaind for the bitcoin at the new value increases -thus meaning that the price starts to stabalise unless a large amount of bitcoin is sold (but there would still be more people buying it and it'd be unhelpful to both the owner and the network for them to sell a large proportion of Bitcoin).

you are wrong , if then there is mass selling the price would get dropped hard
people would follow to sell too , only few keep holding and even to keep buying
the result would be keep dropping , then if you decide to buy it back at the lowest price and do mass buying again
what do you think would happened? it's clearly controlled already by certain group and it could be chinese.

ufaiz50

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Quote from: PhilipPens on February 09, 2016, 04:15:29 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?

All transactions and bitcoins issued into existence can be transparently consulted in real-time by anyone. All payments can be made without reliance on a third party and the whole system is protected by heavily peer-reviewed cryptographic algorithms like those used for online banking. No organization or individual can control Bitcoin, and the network remains secure even if not all of its users can be trusted.
and seeking the identity of the inventor of Bitcoin is currently the same as seeking the identity of the inventor of the newspaper

wxa7115

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Bitcoin is GOD

Quote from: rizkyhiw on November 28, 2016, 05:46:54 PM

Quote from: agamasrori on November 28, 2016, 05:10:45 PM

Quote from: babyjesusftw1 on November 28, 2016, 12:03:53 PM

No centralized agency or organization does, that's why it is so great! Supply and demand dictates the value, not a government. Its value is completely in the hands of the general public.

Yeah, you get the point. The control is in our hands. I do not want the government control my money. Like happen to yunani people. People in china were buy bitcoin for avoid government control too.

the control is on our hand yeah , so if chinese group sell all their bitcoin
which it's a lot , what do you think would happened?
and buy back again in mass , this is looks controlable.

But that is nothing new, the powerful and the rich can control and manipulate fiat too, and the market for fiat is a lot bigger than the market of bitcoin so while bitcoin is a decentralized currency, bitcoin is still subject to manipulation like any other currency of then world.

RawDog

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Quote from: virasog on November 29, 2016, 09:10:36 AM

China is controlling the bitcoin.

"China is controlling the bitcoin."
- well said.

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