Who controls the Bitcoins?

[MinerHQ]

At initial stage when bitcoin was just born, at that time certain group of people was controlling Bitcoin. But as time laps and, value and importance of bitcoin increase it becomes more stable and decentralized. Basically Bitcoin is P2P (Peer to Peer) Currency, so as many users enter in to network and everyone in network having Bitcoins in their wallet controls Bitcoin.

I completely agree that now many people are holding bitcoins and many users not traders, they just might have brought these bitcoins for investment purpose, so the market has more stable now. Because all of these new investors are not doing daily trading. But I still think some big players in market are the one will control the big price fluctuations and not the normal investors.

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[Techie5879]

Well, you can control the specific BTC in your wallet only. Also, the person who transacts the bitcoins to your wallet controls whatever amount he/she wants to transfer. Others can control whatever is there in theirs'. The number of miners controls how many blocks/shares are uncovered. Buyers control the value of 1 BTC, as, when they buy too many, the price of the rest goes pretty high. So...that's it
Ohh yeah, the BlockChain Technology controls the transactions and the fees and blocks and shares!

Now, that's that!

[bncbnc]

No one supposed to control it but it seems the large Asian bitcoin community is having an effect on the price due to their numbers.
I mean China

yes i also agree with you. but i think no one know that which countries representative are more in number, may be chine or may be Japan, i think Russia member are also so much in number. my be my own country, but if it a fact that the representative of all countries are there in the world of bitcoin.

[Fatanut]

At initial stage when bitcoin was just born, at that time certain group of people was controlling Bitcoin. But as time laps and, value and importance of bitcoin increase it becomes more stable and decentralized. Basically Bitcoin is P2P (Peer to Peer) Currency, so as many users enter in to network and everyone in network having Bitcoins in their wallet controls Bitcoin.

I completely agree that now many people are holding bitcoins and many users not traders, they just might have brought these bitcoins for investment purpose, so the market has more stable now. Because all of these new investors are not doing daily trading. But I still think some big players in market are the one will control the big price fluctuations and not the normal investors.

They are not trading daily because they want to maximize their profits. If the difference of the price today than yesterday is just 1$, is it a good time to buy or sell bitcoins? No. Most of us are just waiting for new whales to come in so the price of bitcoin will pump up. Some are waiting for a whale to sell their bitcoins so they can get bitcoins in a much lower price. You can't do trading daily because most of the time, there's not that much difference.

[BlackPanda]

no control bitcoin. bitcoin is currently possess everyone. requires a very rich man once in order to control bitcoin, and maybe they should have a number of bitcoin approximately 51% of the total supply current.

[puremage111]

decentralized = no one can control?

Not sure tho as there's still founder for it

[rajasumi2]

there is particular no one who controls bitcoins ..it is controlled by a network .. actually it is decentralized by only one network ..kudoos

[Diced90]

The way I see it inspite of bitcoin been decentralized we the users control it

[Tanic]

The truth is that nobody controls bitcoin besides the users who make the price higher or lower from the demand on bitcoins.
If somebody will be able to prove the opposite I will be ready to read your opinions below.

[error08]

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?

Since bitcoin system is designed to decentralized,  no one really controls bitcoin except the one who created it (Mr. Satoshi Nakamoto) users could only affect bitcoin price if they have at least 50% of total amount of bitcoin to control it.

[hawkins]

I believe that bitcoin is very difficult to control, even for the largest bitcoin holders. bitcoin is always unstable, and it has to have excess interest. Well, I believe that no control bitcoin today, because that's a lot of people using bitcoin.

[krishna1]

bitcoin is contolled by no one every bitcoiner is a part and the reason for running the bitcoin network like as we know every bitcoin miner and nodes plays an essential role in bitcoin network and these ate also a major reason why everything is working perfect

[needyou]

No one controls Bitcoin. Bitcoin is the first decentralised currency. Not one individual or party controls all of Bitcoin. Me, you and everyone who actively participates in Bitcoin, indirectly controls the currency. We together discern the course of Bitcoin over time.  Smiley

[kiklo]

It is absolutely amazing ,

how many people are clueless to who controls BTC.

It was supposed to be decentralized by no one person, or one company , or one Government ever having over 51% mining.

China has had over 51% mining control over BTC for more than a year now.
BTC control has Centralized to China.

Reason being the 51% security attack warned about by Satoshi himself.
Reference: In his Bitcoin paper, Satoshi identified several issues, with the 51% attack being the greatest.
http://www.btcpedia.com/bitcoin-51-attack/

So what is the 51% attack? To understand that you have to understand how Bitcoin works. Essentially Bitcoin is a collection of nodes performing “virtual work”, the more work you do the higher your rating on the network. So what happens when malicious users get together and manage to do more “virtual work” than the “good people” ? Well that is the 51% attack, and it basically means you can wake up tomorrow with zero Bitcoins in your wallet. It means any business that accepts Bitcoins can get robbed and have all their goods taken with fake Bitcoins. It also means if they wanted, governments, large corporations or hackers can “shut down the network” by refusing to accept any new transactions. Complete network shutdown. Can’t do anything with your Bitcoins, neither can anyone else.

 

[madwica]

In my opinion there is nobody control the bitcoin the value was depending on the market that is why value is continue to fluctuates and also it mat vary the economy of where the bitcoin mined.

[sonnyacg]

I read in an internet blog about who controls bitcoin in this world, one of the which is the controlling company of China BTC China Pool - BTCChina Pool is one of the biggest players. The company was founded in 2011 and is currently led by Bobby Lee, who Became CEO after buying the stock exchanges in China BTC 2013. Pool comes with a rate of 13.74% the number of hash.

I think a lot of large companies that control the bitcoin in this world?

[Ryananda]

Nothing controls the Bitcoin network, just as no one has the technology email operation. Bitcoin is controlled by all users worldwide. Developers may increase Bitcoin software, but they can not force a change in the Bitcoin protocol because all the users are free to choose the software and the version they want to use. In order to remain compatible with each other, all the user needs to use the software to follow the same rules. Bitcoin can only work properly if there is a full consensus among all users. Thus, all users and developers have a strong incentive to protect this consensus.

[iamTom123]

No one controls bitcoins, that is what i like about bitcoins that is it's decentralized nature.
If anyone really controls it than i think they are the Chinese miners which have a great influence on bitcoins.

In terms of controls, I think on the same level as you do as no one is really in control of this currency as it is decentralized. However, because it is a currency and traded all the time in the market, there can be some who can influence its movements. And that is fine with us as Bitcoin is now getting to be mainstream and not living in a vacuum.

[thejaytiesto]

The main point of bitcoin is that no one controls them specifically, there is a big collision between forces and that makes the result of those forces to be a decentralized solution. In the future we will have less centralized mining which is currently the biggest problem. once that is resolved then we will be on the right spot.

[red4slash]

some people say that the china was the one who controls the bitcoin in because he has a lot of bitcoin mining sites and is a country with the world's largest bitcoin users..