crairezx20
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December 13, 2016, 05:54:20 PM |
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China does have a big influence at the news coins being mined, since the most miners are located at there, but early adopters does have a lot of bitcoins, like Nakamoto, those are the ones that can control in part bitcoin, since its decentralized.
yes china might have a big influence to bitcoin and they have the most bitcoin miners but that actually doesn't that they are controlling the bitcoin as what you have said it is decentralized no one ever has a control of it even those early adopters or maybe even Nakamoto the creator of this wonderful creation I don't know  . Yeah that is why i choose bitcoin because we have a freedom to use it no one can control it because satoshi made it decentralized. Even government has no power to control bitcoin.. for now but i do not know what will happen in the future.. all of us, we don't know what will happen in the future but for me bitcoin will stay on its feature which is being decentralized and the government still don't have a privilege to take in control of bitcoin so that we also still have our freedom. that is what I'm hoping for bitcoin. For now we are still in freedom but we do not know what will happen in the future because many people here are waiting bitcoin will be accepted locally and more company are accepting it.. so i think in the future government will take an action if they seen bitcoin locally that use in business.. Even china is number one or has largest bitcoin farm we can not still consider it that they can control bitcoin but they can dump their bitcoin and the price of bitcoin could be affected. if he sell or dump it all.. |
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According to NIST and ECRYPT II, the cryptographic algorithms used in
Bitcoin are expected to be strong until at least 2030. (After that, it
will not be too difficult to transition to different algorithms.)
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asuryan180
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December 13, 2016, 06:15:40 PM |
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China does have a big influence at the news coins being mined, since the most miners are located at there, but early adopters does have a lot of bitcoins, like Nakamoto, those are the ones that can control in part bitcoin, since its decentralized.
yes china might have a big influence to bitcoin and they have the most bitcoin miners but that actually doesn't that they are controlling the bitcoin as what you have said it is decentralized no one ever has a control of it even those early adopters or maybe even Nakamoto the creator of this wonderful creation I don't know . Mining has nothing to do with controlling BTC,it just means that at this moment the BTC are held by the miners but nothing more than that,it's an open market and the people holding BTC change at every moment and this is the way it will continue to be.China may have the most miners but that doesn't mean it controls anything,it just has the biggest share of BTC holders right now. |
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Bitcoinsummoner
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December 13, 2016, 06:32:16 PM |
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China does have a big influence at the news coins being mined, since the most miners are located at there, but early adopters does have a lot of bitcoins, like Nakamoto, those are the ones that can control in part bitcoin, since its decentralized.
yes china might have a big influence to bitcoin and they have the most bitcoin miners but that actually doesn't that they are controlling the bitcoin as what you have said it is decentralized no one ever has a control of it even those early adopters or maybe even Nakamoto the creator of this wonderful creation I don't know . Mining has nothing to do with controlling BTC,it just means that at this moment the BTC are held by the miners but nothing more than that,it's an open market and the people holding BTC change at every moment and this is the way it will continue to be.China may have the most miners but that doesn't mean it controls anything,it just has the biggest share of BTC holders right now. Yeah china is just an instrument that contributing to mine a large number of bitcoin.. honestly if they can sell their bitcoin it give them a large profit but if they do that it can affect the price of bitcoin. that is why they are not selling it they are just holding it and helping bitcoin to increase the price in the future.. |
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deisik
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English ⬄ Russian Translation Services
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December 13, 2016, 09:22:39 PM
Last edit: December 13, 2016, 10:09:46 PM by deisik |
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China does have a big influence at the news coins being mined, since the most miners are located at there, but early adopters does have a lot of bitcoins, like Nakamoto, those are the ones that can control in part bitcoin, since its decentralized.
yes china might have a big influence to bitcoin and they have the most bitcoin miners but that actually doesn't that they are controlling the bitcoin as what you have said it is decentralized no one ever has a control of it even those early adopters or maybe even Nakamoto the creator of this wonderful creation I don't know . Mining has nothing to do with controlling BTC,it just means that at this moment the BTC are held by the miners but nothing more than that,it's an open market and the people holding BTC change at every moment and this is the way it will continue to be.China may have the most miners but that doesn't mean it controls anything,it just has the biggest share of BTC holders right now. I'm afraid it is a way more than that It is whispered that the Chinese miners collectively have more than 50% of hashing power. Specific figures differ between "analysts" but almost all of them agree that major Chinese mining pools could easily carry out a 51% attack if they chose to do so by putting together their hashing power. Such an attack could allow, among other things, massive double spends that would effectively render Bitcoin useless and ultimately ruin it. I'm not going to say that they will necessarily go for it, but I'm still heavily inclined to suspect that this is a little more than just holding a pile of bitcoins you talk about |
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QuestionAuthority
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You lead and I'll watch you walk away.
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December 13, 2016, 09:42:39 PM |
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I control it if you think it's wonderful and want to praise it. If you hate Bitcoin and want to lodge a complaint it's the guy above me.  He's the one you're looking for. |
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Creepings
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December 13, 2016, 09:47:26 PM |
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Well users control bitcoins right? That's why some are saying that bitcoin is free!
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energycr
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December 14, 2016, 01:38:25 AM |
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Who controls the course of bitcoin? You mean the fate of what it will become eventually? It would be us. The ones who are using it and also what we choose to do with it. If we use it on a daily basis then that will encourage retailers to notice this and then allow us to use them to purchase their goods and services that they offer. If they choose not too then they don't know how much they are losing out by ignoring bitcoin as a whole and just refusing to accept it as a form of payment.  |
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markyminer
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December 14, 2016, 05:42:32 AM |
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Well users control bitcoins right? That's why some are saying that bitcoin is free!
I think control is not the right word for us, but we are the ones who are contributing for whatever is happening to bitcoins economy. And the people who are having the highest contribution are those so called 'whales' in bitcoin. Those people are holding thousands of bitcoins in their cold storage and every single move they are making has an effect to the bitcoin society. every one has the right to keep any amount of bitcoin with them, there is no limit of keeping bitcoin, therefore they cannot be blame, and the second is that bitcoin is a universal currency and decentralize therefore it is not so easy to manipulate the price of bitcoin. |
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Watershin
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December 14, 2016, 06:05:53 AM |
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Well users control bitcoins right? That's why some are saying that bitcoin is free!
I think control is not the right word for us, but we are the ones who are contributing for whatever is happening to bitcoins economy. And the people who are having the highest contribution are those so called 'whales' in bitcoin. Those people are holding thousands of bitcoins in their cold storage and every single move they are making has an effect to the bitcoin society. every one has the right to keep any amount of bitcoin with them, there is no limit of keeping bitcoin, therefore they cannot be blame, and the second is that bitcoin is a universal currency and decentralize therefore it is not so easy to manipulate the price of bitcoin. Ya it is true that bitcoin is free and their is no one who controls it, it is generated through algorithm software and who ever is having it in wallet with private key is the owner of the bitcoin. As it is free coin which can be generated by anyone so no one is the controller of bitcoin |
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Kasabus
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December 14, 2016, 06:40:54 AM |
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Well users control bitcoins right? That's why some are saying that bitcoin is free!
I think control is not the right word for us, but we are the ones who are contributing for whatever is happening to bitcoins economy. And the people who are having the highest contribution are those so called 'whales' in bitcoin. Those people are holding thousands of bitcoins in their cold storage and every single move they are making has an effect to the bitcoin society. every one has the right to keep any amount of bitcoin with them, there is no limit of keeping bitcoin, therefore they cannot be blame, and the second is that bitcoin is a universal currency and decentralize therefore it is not so easy to manipulate the price of bitcoin. Ya it is true that bitcoin is free and their is no one who controls it, it is generated through algorithm software and who ever is having it in wallet with private key is the owner of the bitcoin. As it is free coin which can be generated by anyone so no one is the controller of bitcoin It gives us a complete freedom to do whatever we wanted to do, it's bitcoin that is getting popular and getting the attention of the people who wanted to have a complete freedom with their transaction online. Definitely for investors it can really help them to increase their earnings and not able to report it to the tax authorities. |
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JANGKRIK BOSS
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December 14, 2016, 07:08:22 AM |
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Certainly interesting when assumptions and questions who can control the bitcoin can be known. One of the things that makes this exciting is bitcoin none of people who can control the bitcoin. If you've got 51% of the stock of the bitcoin, are you could control the bitcoin? If you have 51% stock of the bitcoin, try to sell all, and I'm sure the price will not go down like stocks.
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qiman
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December 14, 2016, 07:42:25 AM |
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No one really controls bitcoin but there are some parties who hold a lot so they must have some influence in different places, for example the Chinese are mining it and many other btc whales can manipulate the altcoin markets pretty heavily by placing large buy or sell orders.
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Luterwish
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December 14, 2016, 08:12:28 AM |
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No one really controls bitcoin but there are some parties who hold a lot so they must have some influence in different places, for example the Chinese are mining it and many other btc whales can manipulate the altcoin markets pretty heavily by placing large buy or sell orders.
You are telling about altcoin or bitcoin, even if their are big miners or whales not that much manipulation can happen as they itself dont want to ruin the market of bitcoin by dumping the bitcoin in all in exchanges and affecting the bitcoin price. and as per i know bitcoin is a free to earn through software or hardware algorithm system. so anyone can mine and earn it |
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Dmitry.Vastov
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December 14, 2016, 10:03:12 AM |
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Who? Its the big whales are the ones who controlling bitcoin. When they dump their holdings. The bitcoin may affects the price of bitcoin. China i think is one of the biggest bitcoin holders in the world. In terms of mining, they are the biggest bitcoin mined. So i think if china denied to use bitcoin in the future. I think were doomed. Many will get panicked and sell their bitcoins that will be a big impact at the price.
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Pattart
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December 14, 2016, 10:07:43 AM |
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Well users control bitcoins right? That's why some are saying that bitcoin is free!
yeah that control bitcoin is the users themselves, living and dead, high and low prices will depend on the users themselves. yeah it can be said that no individual can control bitcoin, but all the users themselves |
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fullypak
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December 14, 2016, 10:16:55 AM |
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Well users control bitcoins right? That's why some are saying that bitcoin is free!
yeah that control bitcoin is the users themselves, living and dead, high and low prices will depend on the users themselves. yeah it can be said that no individual can control bitcoin, but all the users themselves It should be like that but I feel there will be some big whales or traders may be controlling the BTC prices most of the times. Because these prices are not regulated just based on either news or some demand and supply issues. If most of the people keeps bitcoins for longer term appreciation then bitcoin prices may not rise faster so people need to trade or use them to buy on regular basis. |
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al0729
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December 14, 2016, 12:45:00 PM |
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this was the best question that i really wanna know too . but i think we as a bitcoin users controls it why? without us what is bitcoin now
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Text
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December 14, 2016, 12:52:04 PM |
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this was the best question that i really wanna know too . but i think we as a bitcoin users controls it why? without us what is bitcoin now
We don't need to know it because it is not yet proven. Only us who can control bitcoins. If we stop using bitcoin then it will start to go down. We can't control the price of bitcoin, there are times that the price goes down because of the anomalies and hacking issues. |
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positivezero
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December 14, 2016, 01:37:54 PM |
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Actually i dont know really who controls the bitcoin. But as I read here in the forums and as my understanding, no one really control bitcoin, only the users who maybe controls it. Yes there's many developers developed bitcoin but no one controls it. Since i just read this in the forums, mind me to share your ideas here  |
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xavier77
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Xavier
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December 14, 2016, 05:07:53 PM
Last edit: December 22, 2016, 05:48:41 AM by xavier77 |
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I think there are some group of people who earn a lot , they control the bitcoins. The whales, I mean. Thy dump volumes, create havoc among the local users who in turn dump their own goods. Then these whales buy tons and tons and things go crazy again and again. In fact, a currency not owner by the Government would be easily controlled by wealthy people.
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