Who controls the Bitcoins? - page 45.

ATguy

sr. member

Activity: 423

Merit: 250

Quote from: Zenixin on February 23, 2016, 02:11:12 PM

Quote from: Jeremycoin on February 14, 2016, 12:14:10 AM

I think the miners are, because they have the most influence on the network.
But however, Bitcoin is decentralized which means there is no one control it.

At present, the Core team control it. For example, even though many people want earlier block size increase, the 2MBblock size increase will happen in July 2017.

Sadly true, especially when I hear comments like miners can be replaced by Core if they misbehave and dont agree with Core plans which just screams "totalitarian".

The only provable decentralized way how Bitcoin can be governed is original Satoshi plan, one ~~cpu~~ hash = one vote, after all only the hash power gives Bitcoin security and value, so Im not afraid of free market - it works much better than totalitarian systems.

iamthesky

full member

Activity: 210

Merit: 100

Quote from: blackmachinegun on February 16, 2016, 10:17:20 AM

Quote from: zeaderza on February 13, 2016, 04:08:16 PM

Bitcoin is a decentalized currency.Bitcoin is controled by people who use it.
If you use bitcoin you control it.Very simple.

I think that's true too. if we do not use bitcoin, bitcoin is certainly going to be unused, the key is the adoption of a person, so in control is our own

Yeah, and bitcoin cannot be controlled by anyone not at least by the government, as it is decentralized currency and that is the reason people are attracted towards it.

Zenixin

jr. member

Activity: 132

Merit: 2

MR06Q8ZM3194

Quote from: Jeremycoin on February 14, 2016, 12:14:10 AM

I think the miners are, because they have the most influence on the network.
But however, Bitcoin is decentralized which means there is no one control it.

At present, the Core team control it. For example, even though many people want earlier block size increase, the 2MBblock size increase will happen in July 2017.

blackmachinegun

hero member

Activity: 532

Merit: 500

Quote from: zeaderza on February 13, 2016, 04:08:16 PM

Bitcoin is a decentalized currency.Bitcoin is controled by people who use it.
If you use bitcoin you control it.Very simple.

I think that's true too. if we do not use bitcoin, bitcoin is certainly going to be unused, the key is the adoption of a person, so in control is our own

Jeremycoin

legendary

Activity: 1022

Merit: 1003

𝓗𝓞𝓓𝓛

I think the miners are, because they have the most influence on the network.
But however, Bitcoin is decentralized which means there is no one control it.

Shinpako09

legendary

Activity: 2058

Merit: 1015

Everyone who has bitcoin i guess but mostly group of people who has large volume of bitcoin can manipulate the price by themselves.

ajun96

hero member

Activity: 658

Merit: 500

Quote from: zeaderza on February 13, 2016, 04:08:16 PM

Bitcoin is a decentalized currency.Bitcoin is controled by people who use it.
If you use bitcoin you control it.Very simple.

i think its not that mean dude. of course we can do anything with bitcoin. but we could not adjust and change what has been set in bitcoin, bitcoin does not belong to anyone

uname

sr. member

Activity: 420

Merit: 250

Quote from: watashi-kokoto on February 13, 2016, 05:26:02 PM

The most influential individual on Bitcoin is Satoshi Nakamoto. If Satoshi returned and proposed something brilliant it will be adopted instantly.

I think satoshi nakamoto has a hands-off against bitcoin, does not intervene again

iv4n

legendary

Activity: 3248

Merit: 1179

Quote from: betohell on February 13, 2016, 08:50:03 PM

Quote from: kartaggen on February 13, 2016, 12:34:28 PM

At present, no one is controlling bitcoins nor it will be controlled in future, and if the government will take over on bitcoins, then many people would stop using bitcoins as a currency.

it will never happen dude. bitcoin will not be regulated by anyone, including the government

I hope it will be like u say, but for that we need to work. I think they will try to take over, or at least to make some kind of surveillance. Also there are some banks that will try same thing. We will see how strong btc is when that happen.

betohell

sr. member

Activity: 476

Merit: 250

Quote from: kartaggen on February 13, 2016, 12:34:28 PM

At present, no one is controlling bitcoins nor it will be controlled in future, and if the government will take over on bitcoins, then many people would stop using bitcoins as a currency.

it will never happen dude. bitcoin will not be regulated by anyone, including the government

n691309

legendary

Activity: 1526

Merit: 1001

Not directly but i think big exchanges control the bitcoin price, about development there are the developers.

watashi-kokoto

sr. member

Activity: 687

Merit: 269

The most influential individual on Bitcoin is Satoshi Nakamoto. If Satoshi returned and proposed something brilliant it will be adopted instantly.

Duomo

hero member

Activity: 588

Merit: 500

☃

No one controls bitcoins. Bitcoin was made to be decentralized with no central authority. Maybe you could justify that a large number of bitcoins is held by a few individuals but I wouldn't say one single entity controls bitcoin.

zeaderza

hero member

Activity: 896

Merit: 502

Bitcoin is a decentalized currency.Bitcoin is controled by people who use it.
If you use bitcoin you control it.Very simple.

designerusa

legendary

Activity: 2310

Merit: 1028

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?

bitcoin is decentralized for that reason , bitcoin is controlled by users..it is independent from government control..

kartaggen

full member

Activity: 224

Merit: 100

At present, no one is controlling bitcoins nor it will be controlled in future, and if the government will take over on bitcoins, then many people would stop using bitcoins as a currency.

ATguy

sr. member

Activity: 423

Merit: 250

Quote from: kartaggen on February 13, 2016, 12:20:37 PM

Quote from: redsun114 on February 13, 2016, 12:07:09 PM

As bitcoin is being decentralized, no one have control to it. It is a Peer to Peer Currency with no central power/processing unit. we can say, we have a Wallet with some bitcoin then we have some control to some bitcoins. Grin

That's true no one can control our bitcoins except us, as it is decentralized so no body can have control on it, and its good that we are having our own bank in the form of digital wallet and we have total control over it.

Yes, every control his Bitcoins without the need of middleman. But Bitcoin protocol or soft fork features are in the centralized hands of developers and miners. Centralized I mean handfull of developers and miners to be clear.

SuperCoinGuy

full member

Activity: 224

Merit: 100

Defender of Bitcoin

I think the answer is nobody and at the same time everybody because if no one wants to run full nodes the network will not be as robust and prone to attack.

kartaggen

full member

Activity: 224

Merit: 100

Quote from: redsun114 on February 13, 2016, 12:07:09 PM

As bitcoin is being decentralized, no one have control to it. It is a Peer to Peer Currency with no central power/processing unit. we can say, we have a Wallet with some bitcoin then we have some control to some bitcoins. Grin

That's true no one can control our bitcoins except us, as it is decentralized so no body can have control on it, and its good that we are having our own bank in the form of digital wallet and we have total control over it.

ATguy

sr. member

Activity: 423

Merit: 250

Quote from: X68N on February 12, 2016, 05:56:09 PM

Quote from: Preclus on February 09, 2016, 12:03:35 PM

There are two small groups that control bitcoin 100%, the miners and the developers. Either can implement whatever changes they want.

Other may argue the "community" could reject these changes but the community really has no power other than voicing their complaints to those two groups.

exactly, this is the truth.
Its like in modern a democracy, the people with power (developers=politicans) can do shit and then users can only whine about it xD.
These romantic decentralisation stories arent real, developers + miners control the currency.
The only "power" the users have is to loose money if the developers/miners do some stupid stuff by accident or on purpose.

Best answer so far in my opinion. Developers and miners control the Bitcoin in very centralized maner. Not sure if the centralization of development or minnig can be changed much though.

Topic: Who controls the Bitcoins? - page 45. (Read 46426 times)