Who controls the Bitcoins? - page 6.

poplolnman

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Quote from: Omega Weapon on February 03, 2017, 04:32:13 AM

Quote from: bitcoindusts on January 28, 2017, 07:46:27 AM

Quote from: farhaan on January 28, 2017, 07:43:17 AM

Bitcoin was created by satoshi as a decentralized currency. But, since china has huge mining power, most of the bitcoins are mined by chinese miners.Obviously, chinese hold majority of bitcoins so that they could decide the price of bitcoin. For every small changes occuring in china related tl bitcoin, it has a world wide impact.Its not good for bitcoin progress. Unfortunately, we have to accept that china controls the Bitcoin.

How does china control Bitcoin? If you look at the mining charts, though several mining farm is located at china, it does not mean that chinese government own them. This are different company with different people. So there is no way that China is controlling bitcoin

The Chinese government does not have direct control over bitcoin but since the most miners are there then anything the Chinese government does has big influence in the operations of miners and their exchanges and in that way they can indirectly influence bitcoin.

basically noone , no group or government agencies that could control over bitcoin , it's pretty clear that bitcoin itself are decentralized , people keep thinking about this. as they aware chinese miners currently are the most bitcoin holder , mark my words even they dump so hard by selling bitcoin in mass , bitcoin wouldn't fail and dropped to the hell.

Bitcoin0916

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Quote from: Omega Weapon on February 03, 2017, 04:32:13 AM

Quote from: bitcoindusts on January 28, 2017, 07:46:27 AM

Quote from: farhaan on January 28, 2017, 07:43:17 AM

Bitcoin was created by satoshi as a decentralized currency. But, since china has huge mining power, most of the bitcoins are mined by chinese miners.Obviously, chinese hold majority of bitcoins so that they could decide the price of bitcoin. For every small changes occuring in china related tl bitcoin, it has a world wide impact.Its not good for bitcoin progress. Unfortunately, we have to accept that china controls the Bitcoin.

How does china control Bitcoin? If you look at the mining charts, though several mining farm is located at china, it does not mean that chinese government own them. This are different company with different people. So there is no way that China is controlling bitcoin

The Chinese government does not have direct control over bitcoin but since the most miners are there then anything the Chinese government does has big influence in the operations of miners and their exchanges and in that way they can indirectly influence bitcoin.

Maybe the policy directly was not delivered, but I'm sure there are special subsidies from the Chinese Government. I am sure, the Chinese Government knows the odds of a proven bitcoin provides many benefits. An example is the industrial mining, china is the largest mining bitcoin country's, automatically China is the largest bitcoin stock, the Chinese community would certainly agree to be able to control bitcoin.

Omega Weapon

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Quote from: bitcoindusts on January 28, 2017, 07:46:27 AM

Quote from: farhaan on January 28, 2017, 07:43:17 AM

Bitcoin was created by satoshi as a decentralized currency. But, since china has huge mining power, most of the bitcoins are mined by chinese miners.Obviously, chinese hold majority of bitcoins so that they could decide the price of bitcoin. For every small changes occuring in china related tl bitcoin, it has a world wide impact.Its not good for bitcoin progress. Unfortunately, we have to accept that china controls the Bitcoin.

How does china control Bitcoin? If you look at the mining charts, though several mining farm is located at china, it does not mean that chinese government own them. This are different company with different people. So there is no way that China is controlling bitcoin

The Chinese government does not have direct control over bitcoin but since the most miners are there then anything the Chinese government does has big influence in the operations of miners and their exchanges and in that way they can indirectly influence bitcoin.

erickkyut

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No one controls bitcoin! It is the user I think can be considered as the ones who controls bitcoin if we will based it on the law of supply and demand which is if the demand is low, the supply is high and if the supply is low, the demand will be high!

GMPoison

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Quote from: President79 on February 03, 2017, 02:28:34 AM

Quote from: GMPoison on February 02, 2017, 11:57:13 PM

Quote from: KenR on January 31, 2017, 02:32:33 AM

Quote from: wintermeasures on January 31, 2017, 02:22:46 AM

Actually there is no established organizations to control bitcoin. All over the world miners are confirming the transactions and that's it. There's no one's hand to control bitcoin but yes people could control the rate because if any individual buy lot of bitcoin in range of crore then obviously price will go up. And if there is no demabd and people start selling bitcoin then price would come down.

Your comment basically sums up 1000 other comments in this thread including 100 of your comments in the thread.Hope you understand the hypothetical references.
You're wrong [China Controls Bitcoins]

You should finish that sentence. China doesn't "control bitcoin". China influences the price of Bitcoin, and that's all the "control" they have.

Lol, quite the contrary, anything that is done china will effect with bitcoin, you can see the largest exchanger bitcoin, everything is china. I think it is becoming a big problem, decentralized but bitcoin is easy to control.

Exchanges are in China... those using the exchanges aren't.
Mining pools are in China... those mining in the pools aren't.

It's not as simple as "Everything is done in China therefor China somehow controls bitcoin".

President79

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Quote from: GMPoison on February 02, 2017, 11:57:13 PM

Quote from: KenR on January 31, 2017, 02:32:33 AM

Quote from: wintermeasures on January 31, 2017, 02:22:46 AM

Actually there is no established organizations to control bitcoin. All over the world miners are confirming the transactions and that's it. There's no one's hand to control bitcoin but yes people could control the rate because if any individual buy lot of bitcoin in range of crore then obviously price will go up. And if there is no demabd and people start selling bitcoin then price would come down.

Your comment basically sums up 1000 other comments in this thread including 100 of your comments in the thread.Hope you understand the hypothetical references.
You're wrong [China Controls Bitcoins]

You should finish that sentence. China doesn't "control bitcoin". China influences the price of Bitcoin, and that's all the "control" they have.

Lol, quite the contrary, anything that is done china will effect with bitcoin, you can see the largest exchanger bitcoin, everything is china. I think it is becoming a big problem, decentralized but bitcoin is easy to control.

GMPoison

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Activity: 434

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Quote from: KenR on January 31, 2017, 02:32:33 AM

Quote from: wintermeasures on January 31, 2017, 02:22:46 AM

Actually there is no established organizations to control bitcoin. All over the world miners are confirming the transactions and that's it. There's no one's hand to control bitcoin but yes people could control the rate because if any individual buy lot of bitcoin in range of crore then obviously price will go up. And if there is no demabd and people start selling bitcoin then price would come down.

Your comment basically sums up 1000 other comments in this thread including 100 of your comments in the thread.Hope you understand the hypothetical references.
You're wrong [China Controls Bitcoins]

You should finish that sentence. China doesn't "control bitcoin". China influences the price of Bitcoin, and that's all the "control" they have.

KenR

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「きみはこれ&#

Quote from: wintermeasures on January 31, 2017, 02:22:46 AM

Actually there is no established organizations to control bitcoin. All over the world miners are confirming the transactions and that's it. There's no one's hand to control bitcoin but yes people could control the rate because if any individual buy lot of bitcoin in range of crore then obviously price will go up. And if there is no demabd and people start selling bitcoin then price would come down.

Your comment basically sums up 1000 other comments in this thread including 100 of your comments in the thread.Hope you understand the hypothetical references.
You're wrong [China Controls Bitcoins]

slapper

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Leading Crypto Sports Betting & Casino Platform

Quote from: mrkevio on January 31, 2017, 02:03:03 AM

Quote from: President79 on January 30, 2017, 11:32:37 PM

Many people say that the Chinese control the bitcoin, looks like I agree because after much reading the reference then it is evident that the market bitcoin china is the biggest, so I am sure the Chinese control the bitcoin.

They control most part of the mining, and probably even most part of the price because they are over 1 billion citizens in the country and so there is the highest percentage of BTC users in the world. They do not "control" it totally, just partially.

well, I think that they are totally control Bitcoin. Bitcoin is being influenced by the Chinese investors a lot. As you can see, if they deposit their money in Bitcoin, the prices will definitely increase and if they decide to sell all of they Bitcoin, the prices will decline sharply. Most of the mining farm are located in China and they can easily start a 51% attack if they want to

wintermeasures

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Actually there is no established organizations to control bitcoin. All over the world miners are confirming the transactions and that's it. There's no one's hand to control bitcoin but yes people could control the rate because if any individual buy lot of bitcoin in range of crore then obviously price will go up. And if there is no demabd and people start selling bitcoin then price would come down.

mrkevio

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Quote from: President79 on January 30, 2017, 11:32:37 PM

Many people say that the Chinese control the bitcoin, looks like I agree because after much reading the reference then it is evident that the market bitcoin china is the biggest, so I am sure the Chinese control the bitcoin.

They control most part of the mining, and probably even most part of the price because they are over 1 billion citizens in the country and so there is the highest percentage of BTC users in the world. They do not "control" it totally, just partially.

President79

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Many people say that the Chinese control the bitcoin, looks like I agree because after much reading the reference then it is evident that the market bitcoin china is the biggest, so I am sure the Chinese control the bitcoin.

paul gatt

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Quote from: ?? on ??

Quote from: whizter on January 29, 2017, 06:30:23 PM

Quote from: ?? on ??

Quote from: Mr.grin on January 29, 2017, 12:18:29 PM

Quote from: Fireblade on January 29, 2017, 11:55:17 AM

Quote from: Raimonn on January 29, 2017, 08:08:24 AM

Quote from: paul gatt on January 29, 2017, 07:12:54 AM

Bitcoin is controlled government jobs
in some countries, Bitcoin is prohibited or strictly managed
here is the main cause of economic problems, Bitcoin has great influence on the economy of a country, therefore, in my opinion, bitcoin should be managed

I'm not agree with your conclusions, bitcoin isn't controlled by any government and couldn't be prohibited. Governments could block exchanges could block shops accepting bitcoins, but its very difficult to block its citizens to have bitcoins. Nowadays bitcoin has a very low influence on economy of most of the countries.

very honestly it is not inpossible for the governnmens to stop thier people from using bitcoin. they can do so very easily.

I also do not agree if bitcoin is controlled by the government. I would argue, that can control is bitcoin, bitcoin users themselves. Well, the price will not go down if there is no panic selling, and it only happens when the user, BTC sell all that they have simultaneously.

Government can't even control a decentralized crypto and I doubt it that they are going to be ever interested with this project. Because most of the people in the government are discouraging people and makes a very bad review with bitcoin which is not new. And there is no one really is controlling bitcoin as whole but with the price increase, there are.

if the government can control a decentralize currency or even block it and can stop their people from using bitcoin etc then what are they waiting for last 9 years, why are they not taking the step to control their people from using bitcoin. i me i think there can be two possibilities, the one is that bitcoin is that government themselves are interested in bitcoin and going to legalize it and the second is that still they do not fell the need to do so.

You already said the reason and answer why government can do something about controlling bitcoin and the people. They can't control bitcoin because its decentralized as we had mentioned it already for so many times. And bitcoin can be legalize but they can't manage to have a control for it and on how it goes through the blocks.

we should think more positively, Bitcoin huge impact on the economy of a country, and if it is not managed, a huge risk happens, criminals will take advantage Bitcoin to launder money, it's illegal behavior
Bitcoin is really difficult to manage, it is the problem of many countries

Doamader

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Countries can control the fiat money, dark business, what makes you people believe they can control bitcoin? They arent able to control something they doesnt own at first, and would be a waste to any country expose they have bitcoins, i do see the presence of countries is a problem and for me would be the signal to sell my bitcoin before bank get a big portion of bitcoins and try to manipulate the market the same way they do with their currencie at forex.

BitFinnese

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Quote from: 20kevin20 on January 29, 2017, 07:51:14 AM

Quote from: bitcoindusts on January 28, 2017, 07:46:27 AM

Quote from: farhaan on January 28, 2017, 07:43:17 AM

Bitcoin was created by satoshi as a decentralized currency. But, since china has huge mining power, most of the bitcoins are mined by chinese miners.Obviously, chinese hold majority of bitcoins so that they could decide the price of bitcoin. For every small changes occuring in china related tl bitcoin, it has a world wide impact.Its not good for bitcoin progress. Unfortunately, we have to accept that china controls the Bitcoin.

How does china control Bitcoin? If you look at the mining charts, though several mining farm is located at china, it does not mean that chinese government own them. This are different company with different people. So there is no way that China is controlling bitcoin

Not the government. It's about the total percentage of online mining hardware. These mining farms may be low (in number), but they are HUGE. Just write "bitcoin farm china" on Google and look up some images and see how big they are. As far as I know, they control over 68% of the total mining hash speed.

The question we need to ask here if China have actual or onhand control over this farm. I read this is owned by different company meaning not a single entity own those hashes. It so happen that it is located in China as people believe but someone here is raising an argument that it is not true. But assuming it is located in China, does it mean Chinese Government controll it? I guess it is a clear No.

wh04m1

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Bitcoin is influenced very quickly by the news in China. Those who can consciously produce these news can control the bitcoin.
However, this control mechanism is not a technical control. It can only be used to manipulate the bitcoin price.

Otherwise, the bitcoin system is technically never controlled by anyone.

mmo_online_1981

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Nobody controls BTC, you use means you is controlling

cengsuwuei

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#SWGT PRE-SALE IS LIVE

i think not only one person can control bitcoin price,
control bitcoin price only suply and demand, and then is big community can control too if need big bitcoin, if buy bitcoin is coordination is same time
is buy big coin is same time, bitcoin price can incraese
same with is big community selling is same time bitcoin price can down

whizter

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Quote from: ?? on ??

Quote from: Mr.grin on January 29, 2017, 12:18:29 PM

Quote from: Fireblade on January 29, 2017, 11:55:17 AM

Quote from: Raimonn on January 29, 2017, 08:08:24 AM

Quote from: paul gatt on January 29, 2017, 07:12:54 AM

Bitcoin is controlled government jobs
in some countries, Bitcoin is prohibited or strictly managed
here is the main cause of economic problems, Bitcoin has great influence on the economy of a country, therefore, in my opinion, bitcoin should be managed

I'm not agree with your conclusions, bitcoin isn't controlled by any government and couldn't be prohibited. Governments could block exchanges could block shops accepting bitcoins, but its very difficult to block its citizens to have bitcoins. Nowadays bitcoin has a very low influence on economy of most of the countries.

very honestly it is not inpossible for the governnmens to stop thier people from using bitcoin. they can do so very easily.

I also do not agree if bitcoin is controlled by the government. I would argue, that can control is bitcoin, bitcoin users themselves. Well, the price will not go down if there is no panic selling, and it only happens when the user, BTC sell all that they have simultaneously.

Government can't even control a decentralized crypto and I doubt it that they are going to be ever interested with this project. Because most of the people in the government are discouraging people and makes a very bad review with bitcoin which is not new. And there is no one really is controlling bitcoin as whole but with the price increase, there are.

if the government can control a decentralize currency or even block it and can stop their people from using bitcoin etc then what are they waiting for last 9 years, why are they not taking the step to control their people from using bitcoin. i me i think there can be two possibilities, the one is that bitcoin is that government themselves are interested in bitcoin and going to legalize it and the second is that still they do not fell the need to do so.

Gameroid

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Quote from: tribanogrami on January 29, 2017, 01:05:26 PM

Couple of rich person? Goverment? Companies? I think none of them. Bcz bitcoin works only when all users meet same idea.You, me, we r all controlling bitcoin. Like e-mail system.

May be developer fix or add to software but they cant change Bitcoin protocol. Otherwise can not be compatible.

On the other hand if we ask; Who has more bitcoin? I think China. In a different perspective we can say China control %40-60 bitcoin in the world.

yes no one control all the bitcoin, but can only the amount he is owing, for example a person have 10 bitcoin so is the owner of these 10 bitcoin and these are under his control, he can use such amount of bitcoin according to his own wishes and there is no restriction over him.

Topic: Who controls the Bitcoins? - page 6. (Read 46400 times)