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Author Topic: Who controls the Bitcoins?  (Read 46400 times)
CoinSkipper
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February 12, 2016, 08:08:21 PM
 #41

We control the Bitcoin  Grin
Succubus
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February 12, 2016, 08:22:00 PM
 #42

No one and everyone. But only if you has bitcoin in wallet you have some control. Roll Eyes
lister storm
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February 12, 2016, 08:24:38 PM
 #43

well kinda no one controls it but also there are people who have a lot of bitcoins so they can control the price a little bit
X68N
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February 12, 2016, 09:56:09 PM
 #44

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?

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.

greetings


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Erzatium
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February 12, 2016, 10:14:20 PM
 #45

Like any assets. The bitcoins are contorlled by the people who hold the bitcoins.
In the end we have to hold and keep the bitcoins, to make the bitcoins strong.
HardFlaccid
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February 12, 2016, 10:30:12 PM
 #46

I think big miners concentrate a lot of the % of the total hashing power in the world, hence they have the power to influenciate the prices as they seem fit.
MedaR
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February 12, 2016, 10:49:22 PM
 #47

I don't see how can someone control the bitcoin if don't have min 50% of all distributed coins?
Maybe if we talking about price on exchanges, price is heavily manipulated and controlled by whales.
Miner don't have any control nor they have any influence on price right now.
Price is determined by demand, mining and hashpower only follows demand.
Demand also can be influenced by hype on exchanges.

You can rent this space
calkob
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February 12, 2016, 10:56:42 PM
 #48

No controls it, thats the whole point.  read the satoshi white paper or youtbe bitcoin to find out more.   Grin
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February 12, 2016, 11:33:56 PM
 #49

This video from the princestone course is the best answer imo

https://www.youtube.com/watch?v=AikLs1P4_PA

http://www.bitcoin-gr.org
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uname
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February 13, 2016, 12:05:34 AM
 #50

bitcoin is decentralitation. no one control bitcoin. its advantages of bitcoin

reputedchain
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February 13, 2016, 01:30:34 AM
 #51

bitcoin is decentralitation. no one control bitcoin. its advantages of bitcoin

Correct, people are more attracted towards bitcoin is only because it is decentralized and no one have control over it, neither the government nor the banks, bitcoin is free bird and enjoying freedom at a moment.

 
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nickenburg
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February 13, 2016, 01:38:20 AM
 #52

Yeh that is the best of this currency, no one controls this coin, so there is no corruption possible like with a normal currency!
And we know Exactly how much Bitcoins there are at the moment and how much we will mine in the future.
It has like a Cap, Bitcoin is Scarce that is why the price is going up there is simply not enough for everyone just like with gold.
jethrorn99
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February 13, 2016, 02:05:43 AM
 #53

Short Answer : NOBODY.

Just like real money, money isn't controlled. The only thing that could change is the price of it by economy.
redsun114
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February 13, 2016, 04:07:09 PM
 #54

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

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ATguy
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February 13, 2016, 04:17:48 PM
 #55

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.

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kartaggen
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February 13, 2016, 04:20:37 PM
 #56

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.
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February 13, 2016, 04:24:47 PM
 #57

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.
ATguy
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February 13, 2016, 04:29:52 PM
 #58

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.

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February 13, 2016, 04:34:28 PM
 #59

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.
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February 13, 2016, 07:38:59 PM
 #60

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..
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