Who controls the Bitcoins? - page 31.

Doamader

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Quote from: xIIImaL on November 23, 2016, 12:16:32 PM

Quote from: Shenzou on November 23, 2016, 11:27:38 AM

China, they control half of the bitcoin market they own most of the hash power,in china most of the modern restaurants and shops do accept bitcoin which is way it is a very popular thing there unlike most of our countrys that the do not know what bitcoin is and if they do they don't encourage people to use it

For all that we need to spread the bitcoins in Facebook, Twitter and other social networks. As current situation social networks is the only way to spread the bitcoin globally. Other ways will not be that much successful.

Really there is restaurants and shops already accepting bitcoin? Well we all know that bitcoin miners are present in the general at China, but this dont make them able to control bitcoin, since the early adopters has a huge ammount of coins, soo the early adopter that hasnt mooved their coins does have influence and just.

xIIImaL

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Quote from: Shenzou on November 23, 2016, 11:27:38 AM

China, they control half of the bitcoin market they own most of the hash power,in china most of the modern restaurants and shops do accept bitcoin which is way it is a very popular thing there unlike most of our countrys that the do not know what bitcoin is and if they do they don't encourage people to use it

For all that we need to spread the bitcoins in Facebook, Twitter and other social networks. As current situation social networks is the only way to spread the bitcoin globally. Other ways will not be that much successful.

Blitzboy

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Quote from: Douglazzz on November 16, 2016, 05:05:34 AM

I think the controller of bitcoin is the goverment , or the operator nationwide. Cheesy

I don't know who is controlling bitcoin but one thing for sure that the government doesn't have anything to deal with bitcoin, not to mention having control over bitcoin. Let's think of this, if the government did control bitcoin, bitcoin wouldn't be like now and it would become just exactly like other currencies. And we haven't know exactly who invented bitcoin so how can the government even have a right to control it?

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China, they control half of the bitcoin market they own most of the hash power,in china most of the modern restaurants and shops do accept bitcoin which is way it is a very popular thing there unlike most of our countrys that the do not know what bitcoin is and if they do they don't encourage people to use it

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Quote from: HaXX0R1337 on November 15, 2016, 04:34:12 PM

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?

Well,I heard that China miners have most of the hashing power in mining bitcoins, so i guess that might be China.
I suppose that basically, we have big players in China that are accumulating their profits. But im not sure is bitcoin controlled but anyone, i doubt it.

That's true that most of the miners are found in China and there are a lot of farms there but still I'm not sure if those miners knows each other there is a company that runs all of those farms. And you are right with it, even though how many Chinese people have the most mining farms still no one will able to control it.

It all comes down to how exactly we define control. If some big whale, or a pack of big whales, can control the price of Bitcoin in wide range, would that count toward Bitcoin control? If a group of closely affiliated miners control the bulk of mining, could we call them controlling Bitcoin as well? And who would have more control over Bitcoin in this case, miners or whales?

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Quote from: groll on November 14, 2016, 08:38:31 PM

Quote from: stark101 on November 13, 2016, 11:10:53 AM

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?

Actually i dont really have any idea who controls the bitcoins. But as my opinion, i think the users itself of bitcoin controls it. I dont care who controls bitcoin as long as it really help to the users especially in earning extra money.

We have the same opinion about this question. The one who controls bitcoin are the users themselves. Since we are the one in control on all of the transactions happening in bitcoin. Yeah, there is no central authority but the overall control is in the users' hands. The price, the flow of trade and the exchange rely on the decisions of the users.

yes, since bitcoin is an open source well only users can handle and can control it. So this means, that anyone can use bitcoin and anyone can participate in the development of the bitcoin. Because bitcoin produced by people and increasingly businesses. But Satoshi Nakamoto was the one who develop the bicoin but it doesn't mean that he himself controls bitcoin.

Doamader

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Quote from: HaXX0R1337 on November 15, 2016, 04:34:12 PM

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?

Well,I heard that China miners have most of the hashing power in mining bitcoins, so i guess that might be China.
I suppose that basically, we have big players in China that are accumulating their profits. But im not sure is bitcoin controlled but anyone, i doubt it.

The big miners even being present into China, they dont control bitcoin, the early adopters are the one wich can control, meaning affect bitcoin, since they hold a huge ammount, even with miners generating new coins daily, the early adopters as investors does have a lot control over bitcoin.

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Quote from: Douglazzz on November 16, 2016, 05:05:34 AM

I think the controller of bitcoin is the goverment , or the operator nationwide. Cheesy

If you really think that is true, then you should do some research. Bitcoin is fully anonymous and no one can control the network since it's decentralized. The government can't control the network. There's no "operator" nationwide since every one is just using the same bitcoin network. Or perhaps you were referring to online exchanger. If so, then they don't have any control over bitcoin. They just convert your bitcoins into fiat and vice versa.

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Quote from: croutonhexagon on November 16, 2016, 11:24:26 AM

Bitcoin is anonymous and automated and no one have control over it. None can alter the system. It's all controlled by bitcoin miners around the world and there are more than 1000 miners. And obviously in future also no one can control the bitcoin because it's decentralized and anonymous.

You have a point here, all we can control here is the market movement because we as a community has a say or can dictate its movement as long as we can decide as one.

But sometimes, speculation affects bitcoin prices too.

ashiqdey

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obviously no one controls bitcoin. it's fully automated and decentralized and no one could every control also. well you might hear that China is controlling bitcoin or such news but that means that China is controlling the price by investing and trading more with bitcoin.

croutonhexagon

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Bitcoin is anonymous and automated and no one have control over it. None can alter the system. It's all controlled by bitcoin miners around the world and there are more than 1000 miners. And obviously in future also no one can control the bitcoin because it's decentralized and anonymous.

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I think the controller of bitcoin is the goverment , or the operator nationwide. Cheesy

MTBTT

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Quote from: HaXX0R1337 on November 15, 2016, 04:34:12 PM

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?

Well,I heard that China miners have most of the hashing power in mining bitcoins, so i guess that might be China.
I suppose that basically, we have big players in China that are accumulating their profits. But im not sure is bitcoin controlled but anyone, i doubt it.

just as most of the china was a miner and a very large bitcoin users in china it will not make bitcoin can be regulated and controlled. I think no one will be able to control the bitcoin

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Quote from: HaXX0R1337 on November 15, 2016, 04:34:12 PM

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?

Well,I heard that China miners have most of the hashing power in mining bitcoins, so i guess that might be China.
I suppose that basically, we have big players in China that are accumulating their profits. But im not sure is bitcoin controlled but anyone, i doubt it.

That's true that most of the miners are found in China and there are a lot of farms there but still I'm not sure if those miners knows each other there is a company that runs all of those farms. And you are right with it, even though how many Chinese people have the most mining farms still no one will able to control it.

Miners just confirm the transactions, maybe they can earn a lot of money and control the price however I think the question of OP is about things like who make updates in the code, who decide about the blocksize, who make updates and things like that.

HaXX0R1337

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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?

Well,I heard that China miners have most of the hashing power in mining bitcoins, so i guess that might be China.
I suppose that basically, we have big players in China that are accumulating their profits. But im not sure is bitcoin controlled but anyone, i doubt it.

Catmony

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Quote from: red4slash on November 13, 2016, 07:06:50 AM

some people say that the china was the one who controls the bitcoin in because he has a lot of bitcoin mining sites and is a country with the world's largest bitcoin users..

China is known to have major mining power but not all of the china based mining companies are running all their mining rigs in china. They have their mining farms all around the world with cheaper electricity cost. So actually china is not controling bitcoin however due to high amount of trading volume coming from chinese exchanger it is affecting price of bitcoin.

canah17

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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?

Well the creator of course but still its not enough to convince you but bitcoin is just a program to make money in the internet so it began in little things called ALTCOINS or the elder once bitcoin is really big it appeared when internet got really famous in this time and they created an amazing creation to make money in the internet so that people in the internet. Its give and take in bitcoin world and then we control bitcoin we earn bitcoin in our wallet and spend it we value that bitcoin thing and we control it we spend it we take it we earn it from that matter we are bitcoins the creator created bitcoin for us only to make our life easy and profitable Cheesy

markyminer

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Quote from: red4slash on November 13, 2016, 07:06:50 AM

some people say that the china was the one who controls the bitcoin in because he has a lot of bitcoin mining sites and is a country with the world's largest bitcoin users..

yes that can right the the most of the bitcoin users are from china and the number of bitcoin miner can also be more in china, but i can say that still china cannot control bitcoin, as bitcoin is a universal decentralize currency and it is not so easy to influence it.

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Quote from: Leonardis on November 14, 2016, 08:05:13 PM

Quote from: red4slash on November 13, 2016, 07:06:50 AM

some people say that the china was the one who controls the bitcoin in because he has a lot of bitcoin mining sites and is a country with the world's largest bitcoin users..

China was controlling the bitcoin a sort of because of the fact that it mined a lot and due to that fact had power over it, right now this is not the fact anymore and I think we ourselves are controlling it all over the world again.

They wasn't. They have had over 51% of the total hash power. The possible thing is making political attack for bitcoin.
No one will control bitcoin. Because the nodes have spread around the world.

salemon

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Quote from: groll on November 14, 2016, 08:38:31 PM

Quote from: stark101 on November 13, 2016, 11:10:53 AM

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?

Actually i dont really have any idea who controls the bitcoins. But as my opinion, i think the users itself of bitcoin controls it. I dont care who controls bitcoin as long as it really help to the users especially in earning extra money.

We have the same opinion about this question. The one who controls bitcoin are the users themselves. Since we are the one in control on all of the transactions happening in bitcoin. Yeah, there is no central authority but the overall control is in the users' hands. The price, the flow of trade and the exchange rely on the decisions of the users.

Do you think that a lot depends on the users themselves? Of course, if engaged in distribution and popularity of bitcoin, it is another matter, but the price may be in the hands of users. Perhaps the speed of bitcoin mining and approaching completion may affect the stabilization of the course.

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