Who controls the Bitcoins?

[CyberKuro]

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?

Are you seriously asking that ? Why dont you learn the basics of bitcoin before asking the most stupid questions imaginable. Bitcoin was made so it cannot be controlled that's the whole point of it. Will your next question be something like how is bitcoin created or stupid crap ? You habe google use it! You have a brain too I hope. Use them together. Google plus a brain = knowledge and answers.

Let's be polite and not be rude, in a nutshell bitcoin control by everyone that have bitcoin, so it can't be controlled but could be manipulated by who have much capital/resources such as company/miners/billionaire/hackers. But we hope no one want/can destroy bitcoin world instead support and develop bitcoin.

[R3ffun]

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 each user of bitcoin ..

[serjent05]

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?

Are you seriously asking that ? Why dont you learn the basics of bitcoin before asking the most stupid questions imaginable. Bitcoin was made so it cannot be controlled that's the whole point of it. Will your next question be something like how is bitcoin created or stupid crap ? You habe google use it! You have a brain too I hope. Use them together. Google plus a brain = knowledge and answers.

Let's be polite and not be rude, in a nutshell bitcoin control by everyone that have bitcoin, so it can't be controlled but could be manipulated by who have much capital/resources such as company/miners/billionaire/hackers. But we hope no one want/can destroy bitcoin world instead support and develop bitcoin.

Yeah we can talk things in a civilized way, i agree that it can't be totally controlled but the price can be manipulated.  Each individual holding bitcoin can controll his holding but cannot control other bitcoins unless he happen to know its private key.  On the other hand, manipulation takes place when certain whale who happen to hold many bitcoins started to either dump or pump the coins, the control is on the price only but not on its system.

[Mastsetad]

We all do. I do not think there is somebody who really controls Bitcoin, it's nobody's propery (at least not anybody that we know). However, the biggest part of mining is controlled by China as far as I know. I hope nobody owns and controls Bitcoin so that we can all be free when using it and take our own choices.

Ofcourse there isn't anyone controlling it, it is all the users who are using it and that is all, this is called bitcoin network and that is how it works, no people or authority behind it, that is the reason why it is anonymous, otherwise it wouldn't have been called that.

[babyjesusftw1]

No centralized agency or organization does, that's why it is so great! Supply and demand dictates the value, not a government. Its value is completely in the hands of the general public.

[TKeenan]

No centralized agency or organization does, that's why it is so great!

Greg Maxwell and Blockstream control it.  That is why it is so fucked up with more than 30,000 transactions stuck with way too high of fees.  The whole thing is broken now.

[agamasrori]

No centralized agency or organization does, that's why it is so great! Supply and demand dictates the value, not a government. Its value is completely in the hands of the general public.

Yeah, you get the point. The control is in our hands. I do not want the government control my money. Like happen to yunani people. People in china were buy bitcoin for avoid government control too.

[rizkyhiw]

No centralized agency or organization does, that's why it is so great! Supply and demand dictates the value, not a government. Its value is completely in the hands of the general public.

Yeah, you get the point. The control is in our hands. I do not want the government control my money. Like happen to yunani people. People in china were buy bitcoin for avoid government control too.

the control is on our hand yeah , so if chinese group sell all their bitcoin
which it's a lot , what do you think would happened?
and buy back again in mass , this is looks controlable.

[Shiroslullaby]

Right now China has a bit of an edge in terms of mining, user adoption, etc
but Bitcoin is still pretty de-centralized.
That could change with the completion of several huge Bitcoin farms in China, however.
I feel like once these farms are complete, there is actually a small problem with China having too much hashing power compared to the rest of the world.

[jackg]

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 a decentralised currency so the nodes (computers) technically now control Bitcoin along with miners.
Other than that, nothing else controls bitcoin (other than the people who write the software clients for bitcoin to run).

No centralized agency or organization does, that's why it is so great! Supply and demand dictates the value, not a government. Its value is completely in the hands of the general public.

Yeah, you get the point. The control is in our hands. I do not want the government control my money. Like happen to yunani people. People in china were buy bitcoin for avoid government control too.

the control is on our hand yeah , so if chinese group sell all their bitcoin
which it's a lot , what do you think would happened?
and buy back again in mass , this is looks controlable.

It is very contorllable. However, if you sell the bitcoin and buy them back again you wouldn't really be gaining much money (you'd actually be losing money instead).

Once the price falls, even by a small amount, the demaind for the bitcoin at the new value increases -thus meaning that the price starts to stabalise unless a large amount of bitcoin is sold (but there would still be more people buying it and it'd be unhelpful to both the owner and the network for them to sell a large proportion of Bitcoin).

[kidoseagle0312]

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?

No one controls bitcoin, even the person itself is the riches people in the whole world He/She can't handle it. But once the people invest bitcoin the holder is the one who controls bitcoin.

[mkmdoc]

No one will control the bitcoin as bitcoin is decentralized network where every one is using bitcoin. There is no specific person who is controlling the bitcoin. I hope the person who is having more bitcoins may be he can control the market.

[19Nov16]

It seems like many have already know that China can controlling bitcoin, this is because as the country's biggest stock certainly bitcoin miners bitcoin mostly exist in china.

[virasog]

It seems like many have already know that China can controlling bitcoin, this is because as the country's biggest stock certainly bitcoin miners bitcoin mostly exist in china.

Yeah, i also know that many people think that China is controlling the bitcoin. But in fact, no one can control the bitcoin. It is not China's currency. Actually, it is more popular in china and china's people are using it in official level, that's why everyone think that bitcoin is controlling from china, But it is not true, because it is decentralized currency.       

[RawDog]

China is controlling the bitcoin.     

"China is controlling the bitcoin."
 - well said.

[wxa7115]

No centralized agency or organization does, that's why it is so great! Supply and demand dictates the value, not a government. Its value is completely in the hands of the general public.

Yeah, you get the point. The control is in our hands. I do not want the government control my money. Like happen to yunani people. People in china were buy bitcoin for avoid government control too.

the control is on our hand yeah , so if chinese group sell all their bitcoin
which it's a lot , what do you think would happened?
and buy back again in mass , this is looks controlable.

But that is nothing new, the powerful and the rich can control and manipulate fiat too, and the market for fiat is a lot bigger than the market of bitcoin so while bitcoin is a decentralized currency, bitcoin is still subject to manipulation like any other currency of then world.

[ufaiz50]

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?

All transactions and bitcoins issued into existence can be transparently consulted in real-time by anyone. All payments can be made without reliance on a third party and the whole system is protected by heavily peer-reviewed cryptographic algorithms like those used for online banking. No organization or individual can control Bitcoin, and the network remains secure even if not all of its users can be trusted.
and seeking the identity of the inventor of Bitcoin is currently the same as seeking the identity of the inventor of the newspaper

[rizkyhiw]

No centralized agency or organization does, that's why it is so great! Supply and demand dictates the value, not a government. Its value is completely in the hands of the general public.

Yeah, you get the point. The control is in our hands. I do not want the government control my money. Like happen to yunani people. People in china were buy bitcoin for avoid government control too.

the control is on our hand yeah , so if chinese group sell all their bitcoin
which it's a lot , what do you think would happened?
and buy back again in mass , this is looks controlable.

It is very contorllable. However, if you sell the bitcoin and buy them back again you wouldn't really be gaining much money (you'd actually be losing money instead).

Once the price falls, even by a small amount, the demaind for the bitcoin at the new value increases -thus meaning that the price starts to stabalise unless a large amount of bitcoin is sold (but there would still be more people buying it and it'd be unhelpful to both the owner and the network for them to sell a large proportion of Bitcoin).

you are wrong , if then there is mass selling the price would get dropped hard
people would follow to sell too , only few keep holding and even to keep buying
the result would be keep dropping , then if you decide to buy it back at the lowest price and do mass buying again
what do you think would happened? it's clearly controlled already by certain group and it could be chinese.

[deisik]

No centralized agency or organization does, that's why it is so great! Supply and demand dictates the value, not a government. Its value is completely in the hands of the general public.

Yeah, you get the point. The control is in our hands. I do not want the government control my money. Like happen to yunani people. People in china were buy bitcoin for avoid government control too.

the control is on our hand yeah , so if chinese group sell all their bitcoin
which it's a lot , what do you think would happened?
and buy back again in mass , this is looks controlable.

But that is nothing new, the powerful and the rich can control and manipulate fiat too, and the market for fiat is a lot bigger than the market of bitcoin so while bitcoin is a decentralized currency, bitcoin is still subject to manipulation like any other currency of then world.

I'd say it is prone to manipulation in a substantially higher degree

Bitcoin can be manipulated by far more easily than any major fiat currency out there simply because there are a few hundred people who hold most of bitcoins mined till now, so they can without any difficulty or exertion dump the price if they choose so. In addition to that, most bitcoins that are in circulation today are traded, and there is no safety cushion that merchants and vendors provide to a currency when they are using that currency for the exchange of goods they happen to sell or produce

[deisik]

Today arbitrage between exchanges almost lost relevance in spite of the huge number of automated trading systems working in this direction. Working with a fork at the start rather risky business, fraught with both great opportunities and great losses.

Arbitrage likely lost relevance thanks to the "huge number of automated trading systems", not in spite of them. Though I don't know if it actually lost relevance since I didn't try arbitrage for a long time already. But I can say that with some altcoins arbitrage is still possible due to the very special properties of their price quotation, which essentially makes such trading systems almost meaningless...

Though they are still useful for price and order tracking (if trading API allows that)