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Topic: Who controls the Bitcoins? - page 4. (Read 46400 times)

sr. member
Activity: 1722
Merit: 252
February 20, 2017, 05:48:55 AM
I'm sure there's a very dominant bitcoin owner so it could control the price. and I'm sure that china is the owner who dominated the bitcoin. This we can see that the price of exchangers in china are the largest.
sr. member
Activity: 280
Merit: 250
February 20, 2017, 05:45:02 AM
we the user and miners association controls the network of bitcoin. we user pay transaction fees to miners and they confirm the payment for us thus this is he simplest way how the bitcoin network is running. If you want to know that who is minner then the simple answer is: You too could be a miner by installing mining software in your PC.
sr. member
Activity: 476
Merit: 250
Bawga
February 20, 2017, 03:27:15 AM
Normally we can tell China control Bitcoin. Most of Miners are china, mining hardwares from china, network is centralized day by day.
legendary
Activity: 3458
Merit: 1280
English ⬄ Russian Translation Services
February 20, 2017, 02:49:30 AM
No one controls Bitcoin. Some miners control its price. No government or organization can control Bitcoin fully. Some countries like China can partially control bitcoin , because most of the miners are from China.     
The miners can't control the price or even "some" as you've mentioned, the price depends on the demands from the market and could only affect by the market, though the miners are also part of the market if they're doing some activities such as buying or selling bitcoin.
I know china is where the most of the mining powers come from but they still can't really give a big impact to the whole system.
yes the minor do not have control over bitcoin.  in fact the demand and supply is controlling bitcoin. if the demand of bitcoin is increasing so the supply will decrease which increase the price of bitcoin. and when the demand is decreasing so the supply will increase and the price of bitcoin will also decrease.
I think miners can control the price of bitcoin because they got the most of the supply of bitcoin. As you said, if the demand decreases it will make the price low, Like what a miner can do, because they have the most supply of bitcoin then they easily create fake demand by dumping their coins and then making a panic selling hype which can result for a hard dump

Even if they control the best part of supply this may not have serious or dramatic effect on the prices (at least, mid to long term). How come? Because there is no reason to think that miners have universal agreement between themselves when to sell their bitcoins and how many of them. Some big mining farms may be trying to affect prices and some of them may be even colluding to make a concerted effort, but ultimately the effect thereof seems to be rather short lived anyway...

And rather counterproductive at that (for the wannabe Bitcoin price manipulors)
sr. member
Activity: 742
Merit: 250
February 19, 2017, 09:16:31 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?
Bitcoin decentralized nature, it is freedom. I think no one can control Bitcoin, it works without through the government or financial institutions. But it may be influenced by the organization, large community. Bitcoin is a digital currency has been encrypted, it can be exchanged, traded directly by the device with an Internet connection. Operating system is also based on an Internet protocol-based networks. Bitcoin process can be created by users, miners and traders. They trading and create Bitcoin flow.
Nobody controls Bitcoin but there is a news,Bitcoin was founded by Satoshi Nakamoto. I'm not sure of this, it is a mystery.
member
Activity: 70
Merit: 10
February 19, 2017, 06:56:04 AM
I'd say no one really. It's decentralized but as for it's value that could be determined from a large range of factors: miners and the market. On another point, however, while you technically can do whatever with your Bitcoins, if they're in an exchange or wallet or whatever that's been ceased, hacked, or shut down, your control tapers off as what happened with Mt. Gox and China exchanges right now.
hero member
Activity: 994
Merit: 544
February 19, 2017, 06:44:55 AM
No one controls Bitcoin. Some miners control its price. No government or organization can control Bitcoin fully. Some countries like China can partially control bitcoin , because most of the miners are from China.    
The miners can't control the price or even "some" as you've mentioned, the price depends on the demands from the market and could only affect by the market, though the miners are also part of the market if they're doing some activities such as buying or selling bitcoin.
I know china is where the most of the mining powers come from but they still can't really give a big impact to the whole system.
yes the minor do not have control over bitcoin.  in fact the demand and supply is controlling bitcoin. if the demand of bitcoin is increasing so the supply will decrease which increase the price of bitcoin. and when the demand is decreasing so the supply will increase and the price of bitcoin will also decrease.
I think miners can control the price of bitcoin because they got the most of the supply of bitcoin. As you said, if the demand decreases it will make the price low, Like what a miner can do, because they have the most supply of bitcoin then they easily create fake demand by dumping their coins and then making a panic selling hype which can result for a hard dump.

The miners have no control over bitcoin but on the mining of bitcoin. What controls the price of the bitcoin is the increasing demand for bitcoin by the users. Even if the miners will dump their coins if the number of users keep growing and the demand keep increasing the price will keep increasing. So in the end the price of bitcoin will depend on the demand of the users and the supply of bitcoin.
hero member
Activity: 2590
Merit: 644
February 19, 2017, 06:30:57 AM
No one controls Bitcoin. Some miners control its price. No government or organization can control Bitcoin fully. Some countries like China can partially control bitcoin , because most of the miners are from China.    
The miners can't control the price or even "some" as you've mentioned, the price depends on the demands from the market and could only affect by the market, though the miners are also part of the market if they're doing some activities such as buying or selling bitcoin.
I know china is where the most of the mining powers come from but they still can't really give a big impact to the whole system.
yes the minor do not have control over bitcoin.  in fact the demand and supply is controlling bitcoin. if the demand of bitcoin is increasing so the supply will decrease which increase the price of bitcoin. and when the demand is decreasing so the supply will increase and the price of bitcoin will also decrease.
I think miners can control the price of bitcoin because they got the most of the supply of bitcoin. As you said, if the demand decreases it will make the price low, Like what a miner can do, because they have the most supply of bitcoin then they easily create fake demand by dumping their coins and then making a panic selling hype which can result for a hard dump.
sr. member
Activity: 1582
Merit: 281
Eloncoin.org - Mars, here we come!
February 19, 2017, 06:22:02 AM
Bitcoin is decentralised which is a huge part of the reason for its existence, therefore no one controls Bitcoin.  It was created by the anonymous persona Satoshi Nakamoto, satoshi being the smallest unit of Bitcoin.  Everyone who uses Bitcoin controls it in a way, because they control where the transactions go, run services, give business to services, etc.

Some people like to argue that China controls Bitcoin, but the reality is that people in China are some of the people using Bitcoin, which doesn't limit people in other countries using or mining it at all.  Arguably, miners have a lot of power over Bitcoin especially since to mine profitably you need quite big businesses now.

FIAT currency created by country's financial institutions, it's able to be controlled by government, Bitcoin can't be controlled by anyone (not yet), except Satoshi Nakamoto emerged as the bitcoin center when first launched. We can only control bitcoin prices gradually. In this case, trade market in full control of the price movement.

What influences price of bitcoin with all sorts of trading market in China?

Because there is a very high trading volume than other places. But it's only temporary, because other countries have started intend to take over position of bitcoin prices, and was followed by an injection of funds of state banks, Japan is one of them.
newbie
Activity: 22
Merit: 0
February 19, 2017, 05:43:10 AM
Bitcoin is decentralised which is a huge part of the reason for its existence, therefore no one controls Bitcoin.  It was created by the anonymous persona Satoshi Nakamoto, satoshi being the smallest unit of Bitcoin.  Everyone who uses Bitcoin controls it in a way, because they control where the transactions go, run services, give business to services, etc.

Some people like to argue that China controls Bitcoin, but the reality is that people in China are some of the people using Bitcoin, which doesn't limit people in other countries using or mining it at all.  Arguably, miners have a lot of power over Bitcoin especially since to mine profitably you need quite big businesses now.
sr. member
Activity: 378
Merit: 250
February 19, 2017, 04:51:18 AM
No one controls Bitcoin. Some miners control its price. No government or organization can control Bitcoin fully. Some countries like China can partially control bitcoin , because most of the miners are from China.     
The miners can't control the price or even "some" as you've mentioned, the price depends on the demands from the market and could only affect by the market, though the miners are also part of the market if they're doing some activities such as buying or selling bitcoin.
I know china is where the most of the mining powers come from but they still can't really give a big impact to the whole system.
yes the minor do not have control over bitcoin.  in fact the demand and supply is controlling bitcoin. if the demand of bitcoin is increasing so the supply will decrease which increase the price of bitcoin. and when the demand is decreasing so the supply will increase and the price of bitcoin will also decrease.
legendary
Activity: 1372
Merit: 1008
February 19, 2017, 04:44:24 AM
Every wallet user have control over their wallet which makes bitcoins so powerful.
bitcoin is decentralized, so all the controls exist on the user's own, ranging from accounts, life of bitcoin, and bitcoin price depends on bitcoin users. all controlled by the user of bitcoin
hero member
Activity: 798
Merit: 505
February 19, 2017, 03:45:20 AM
I dont think there is suchone person who controls bitcoins price and its circulation.Even though the mining is  not controlled by the creator.If there is one who controlls the price of bitcoin and circulation of it it is us, us users of bitcoins.We controls the number of amount of bitcoin circulatin, the number of bitcoin being mined and many more
sr. member
Activity: 854
Merit: 250
February 19, 2017, 03:42:01 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 think the person who can control the price of bitcoin is a stock investor who has many bitcoin. unconsciously it will make the price decline
legendary
Activity: 3010
Merit: 1028
Leading Crypto Sports Betting & Casino Platform
February 19, 2017, 02:22:27 AM
No one controls Bitcoin. Some miners control its price. No government or organization can control Bitcoin fully. Some countries like China can partially control bitcoin , because most of the miners are from China.     
The miners can't control the price or even "some" as you've mentioned, the price depends on the demands from the market and could only affect by the market, though the miners are also part of the market if they're doing some activities such as buying or selling bitcoin.
I know china is where the most of the mining powers come from but they still can't really give a big impact to the whole system.
hero member
Activity: 2604
Merit: 548
Vave.com - Crypto Casino
February 19, 2017, 01:51:33 AM
We the users along with speculators, investors, miners, developers, bitcoin accepting merchants and so many users on a whole along with the entire digital currency network control the bitcoin. In this, major role is under the hands of miners and developers.
full member
Activity: 366
Merit: 100
February 19, 2017, 01:27:17 AM
No one controls Bitcoin. Some miners control its price. No government or organization can control Bitcoin fully. Some countries like China can partially control bitcoin , because most of the miners are from China.     
legendary
Activity: 3136
Merit: 1024
Leading Crypto Sports Betting & Casino Platform
February 19, 2017, 12:29:12 AM
No one really controls bitcoins and if still we have to select someone then they are our precious miners which make bitcoins running and transactions getting confirmed very quickly.
The miners are controlling the bitcoin. But in the case with rejecting some of the improvement by the bitcoin dev to make the network is more efficient to covering a lot of the transaction.
but the confirmation of bitcoin is not running for quickly like your statement.
legendary
Activity: 1512
Merit: 1000
February 19, 2017, 12:03:37 AM
I control my own bitcoins. Of course, if I want to move them around, I need the network.
newbie
Activity: 44
Merit: 0
February 18, 2017, 11:20:44 PM
network bitcoin control the bitcoin  Grin
but i really curious , who is Satoshi Nakamoto in real
didnt find a real identity of him
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