Who controls the Bitcoins? - page 39.

Sorrowfox

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Quote from: Amph on February 09, 2016, 05:42:19 AM

there is no control, that's the beauty of bitcoin, well one can argue that merchants and miners control bitcoin, but that is still the best decentralization you can ever get

Yeah, that is the beauty of bitcoin but not only bitcoin but every cryptocurrency. No one directly control it but they can be controlled by large companies who mine them. If those large companies stop their operation in mining the supply of bitcoin in the world will surely decrease and if that happened the price will surely rise up.

Kotone

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Quote from: clickerz on July 20, 2016, 02:29:18 AM

Quote from: Sharma on July 20, 2016, 02:20:57 AM

Quote from: outatime1 on July 19, 2016, 09:43:58 PM

Some people can influence the price of bitcoin if they have enough of it. However, the point of bitcoin was to be independent of any government or bank, so it belongs to the people.

Well, yeah. Whales have control over most of the bitcoin market, but whales pretty much have control over every other market as well.

Take a look at stocks. The market price isn't affected that much by the average Joe buying a few shares for their retirement. But rather, the price movement is generally caused only by big players.

The problem is we wont know who are they. Because of bitcoins anonymity we have no idea most of them at still it is speculation maybe.

Does the blockhain explorer can sort bitcoins owned per country? How much China owned? Wink

There are no they, All of us is controlling bitcoin. Do you use your bitcoin in Buying or selling ? Do you earn your bitcoins ? Do you gain profit from bitcoin ? Do you always use bitcoin ? Then you are controlling bitcoin. Hence you use it for transacting and it keeps the bitcoin rotate from address to address. So There are no they, We are all. All of us. We don't when will it be stopped but as long as I know, We are all controlling the world of bitcoin.

Kotone

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We are all controlling the bitcoin and yet we need to continue transacting to continue the life of bitcoin. No one knows where bitcoin stops but we all know that there is a limitation of bitcoin blocks. We need to continue moving our coins from address to address to make the bitcoin more useful and to continue the life of bitcoin. If everybody stops transacting their bitcoin and all wallets will be locked, there is a possibility that bitcoin will be dumped in the near future.

Velkro

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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 noone and everyone, depends how you look at things.
Bitcoin is controlled by users, miners and exchanges at once. No central point of failure.

hase0278

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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?

No one controls bitcoin mate since it is decentralized. The managing transactions and the issuing of bitcoins is carried out collectively by the network. It is not one of the official currencies yet I think, it is just used by many people worldwide for transactions. Bitcoin was released way back 2009 by Satoshi Nakamoto and satoshi nakamoto. What controls bitcoin price is all of us who buy and sell.

OrangeII

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Quote from: Zenixin on August 03, 2016, 04:33:17 AM

Quote from: clickerz on July 20, 2016, 02:29:18 AM

Quote from: Sharma on July 20, 2016, 02:20:57 AM

Quote from: outatime1 on July 19, 2016, 09:43:58 PM

Some people can influence the price of bitcoin if they have enough of it. However, the point of bitcoin was to be independent of any government or bank, so it belongs to the people.

Well, yeah. Whales have control over most of the bitcoin market, but whales pretty much have control over every other market as well.

Take a look at stocks. The market price isn't affected that much by the average Joe buying a few shares for their retirement. But rather, the price movement is generally caused only by big players.

The problem is we wont know who are they. Because of bitcoins anonymity we have no idea most of them at still it is speculation maybe.

Does the blockhain explorer can sort bitcoins owned per country? How much China owned? Wink

You cannot find who owns what from the block chain. The bitcoin is semi anonymous. We do not know how many the Chinese owns.

since the appearance of bitcoin, maybe just satoshi Nakamoto knows who is behind bitcoin and who is controlling it, but until now, it is not known by the public, but I think this is great, because if like this, there will be no hackers who try to control bitcoin, because if you can control bitcoin, perhaps you could have easily

Zenixin

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Quote from: clickerz on July 20, 2016, 02:29:18 AM

Quote from: Sharma on July 20, 2016, 02:20:57 AM

Quote from: outatime1 on July 19, 2016, 09:43:58 PM

Some people can influence the price of bitcoin if they have enough of it. However, the point of bitcoin was to be independent of any government or bank, so it belongs to the people.

Well, yeah. Whales have control over most of the bitcoin market, but whales pretty much have control over every other market as well.

Take a look at stocks. The market price isn't affected that much by the average Joe buying a few shares for their retirement. But rather, the price movement is generally caused only by big players.

The problem is we wont know who are they. Because of bitcoins anonymity we have no idea most of them at still it is speculation maybe.

Does the blockhain explorer can sort bitcoins owned per country? How much China owned? Wink

You cannot find who owns what from the block chain. The bitcoin is semi anonymous. We do not know how many the Chinese owns.

clickerz

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Quote from: Sharma on July 20, 2016, 02:20:57 AM

Quote from: outatime1 on July 19, 2016, 09:43:58 PM

Some people can influence the price of bitcoin if they have enough of it. However, the point of bitcoin was to be independent of any government or bank, so it belongs to the people.

Well, yeah. Whales have control over most of the bitcoin market, but whales pretty much have control over every other market as well.

Take a look at stocks. The market price isn't affected that much by the average Joe buying a few shares for their retirement. But rather, the price movement is generally caused only by big players.

The problem is we wont know who are they. Because of bitcoins anonymity we have no idea most of them at still it is speculation maybe.

Does the blockhain explorer can sort bitcoins owned per country? How much China owned? Wink

Zadicar

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In my own perspective the only one who can control bitcoin is the owner, i dont know if im right. just my opinion though.
Many factors can affect the bitcoin price, but no one can manipulate it and thats the good isde of bitcoin.

Sharma

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Quote from: outatime1 on July 19, 2016, 09:43:58 PM

Some people can influence the price of bitcoin if they have enough of it. However, the point of bitcoin was to be independent of any government or bank, so it belongs to the people.

Well, yeah. Whales have control over most of the bitcoin market, but whales pretty much have control over every other market as well.

Take a look at stocks. The market price isn't affected that much by the average Joe buying a few shares for their retirement. But rather, the price movement is generally caused only by big players.

groll

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Quote from: ?? on ??

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?

no one can control bitcoin except he'd owning 70% of bitcoin, and bitcoin is decentralized,when bitcoin started to be announced the price is around $1-$5 if i'm not mistaken, and bitcoin growing up until now

Yes the one who control the price of bitcoins are the elite individuals owning a large volume of bitcoins. THem, having it move may cause a big impact on bitcoin price inflation and deflation. As to normal users our simple transactions in away affects bitcoins price but not to the state that a substantial increase or decrease will occur.

goinmerry

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Quote from: shinratensei_ on July 20, 2016, 12:40:02 AM

Quote from: kryptqnick on July 19, 2016, 03:16:48 PM

WE all control btc in some way. Especially miner farmers and just those who have lots of btc (casino owners, for example).

Well, I agree with you the who controls the bitcoin is the bitcoin users because all the situation,future, and value are relied on by their users. no one can be making any domination for bitcoin. but the whales can't control bitcoin for fully.

No they cant. But they can create a lot of impact with just trading it. And if they created a whale group then it can be a controlled impact. We low earners can just go with the flow and hope they are doing it for profit.

shinratensei_

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Quote from: kryptqnick on July 19, 2016, 03:16:48 PM

WE all control btc in some way. Especially miner farmers and just those who have lots of btc (casino owners, for example).

Well, I agree with you the who controls the bitcoin is the bitcoin users because all the situation,future, and value are relied on by their users. no one can be making any domination for bitcoin. but the whales can't control bitcoin for fully.

CrimBit

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this is how decentralization work, no people can touch your bitcoin, no people can freeze your account, no people can control all bitcoin.
but for price of bitcoin, whales and big name can give some effect to rise and fail.

outatime1

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Some people can influence the price of bitcoin if they have enough of it. However, the point of bitcoin was to be independent of any government or bank, so it belongs to the people.

yayayo

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Bitcoin became successful because of the initial trades done in the currency. What first started as a crazy experiment was connected to the real world by people selling actual goods for Bitcoin (for example the infamous 10k BTC pizza). Even if initial trade was purely done for fun or out of curiosity it established a trade value for Bitcoin. Bitcoin's acceptance as a currency is the result of free market dynamics that formed around an artificial set of rules (the Bitcoin protocol).

Bitcoin is not directly controlled by anyone. However, fullnode-operators, miners and developers exert indirect control over Bitcoin. In terms of power the position of large mining pools and Bitcoin developers is the strongest, because they can make decisions on the networks functionality - albeit not to an unlimited degree.

ya.ya.yo!

AioFox

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Satoshi controls it XD. Anyway i think the entire market of users has the final say in controlling bitcoin. The developers can try to force a change on miners they don't want, and miners can try to force a change on bitcoin users that the users don't like. But so long as some miners mine the version that users prefer, it is the users (as an entire group) who have ultimate control. And I think that's pretty cool.

kryptqnick

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WE all control btc in some way. Especially miner farmers and just those who have lots of btc (casino owners, for example).

madwica

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Quote from: Strongkored on July 14, 2016, 08:14:22 PM

Quote from: Maesters1- on July 09, 2016, 12:14:54 PM

according to some people bitocn is control by china some says that japan has a strong hold over bitcoin. but i will like to say that no one is controlling bitocin and that is the beautiy of bitcoin.

But in my opinion bitcoin is not controlled by china or japan pal. I think people tend to follow market prices china so that made it seem like bitcoin prices are controlled by China when that control is our own bitcoin

I think it will controlled by that two powerful country, but i want in the future only users will control the bitcoin base on their demand and how they can use their bitcoin.

Strongkored

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Quote from: Maesters1- on July 09, 2016, 12:14:54 PM

according to some people bitocn is control by china some says that japan has a strong hold over bitcoin. but i will like to say that no one is controlling bitocin and that is the beautiy of bitcoin.

But in my opinion bitcoin is not controlled by china or japan pal. I think people tend to follow market prices china so that made it seem like bitcoin prices are controlled by China when that control is our own bitcoin

Topic: Who controls the Bitcoins? - page 39. (Read 46426 times)