Who controls the Bitcoins?

[RajaJudi]

Bitcoin is a worldwide currency on the Internet, so it is difficult to be manipulated artificially.
The final decision bitcoin value is not the people, but how many legal currency and circulation.

Bitcoin is not a worldwide currency its a crypto currency , bitcoin cant be controlled or manipulate by people , even the creator of bitcoin cant control bitcoin.

Yep, Bitcoin can be used from anywhere, any place, even outta space. It is not being controlled by anyone or any governments. That's why people, especially hackers love to use Bitcoin, they can hide their identity while using it.

[Positid]

Bitcoin is a worldwide currency on the Internet, so it is difficult to be manipulated artificially.
The final decision bitcoin value is not the people, but how many legal currency and circulation.

Bitcoin is not a worldwide currency its a crypto currency , bitcoin cant be controlled or manipulate by people , even the creator of bitcoin cant control bitcoin.

Yep, Bitcoin can be used from anywhere, any place, even outta space. It is not being controlled by anyone or any governments. That's why people, especially hackers love to use Bitcoin, they can hide their identity while using it.

That fact that it's decentralized then it's not controlled by anymore and it gives us a good connection since it's a universal currency that we are using, bitcoin will always be here as we need and support it, the demand will increase since people are satisfied with the benefits.

[d@nte]

Bitcoin is a worldwide currency on the Internet, so it is difficult to be manipulated artificially.
The final decision bitcoin value is not the people, but how many legal currency and circulation.

Bitcoin is not a worldwide currency its a crypto currency , bitcoin cant be controlled or manipulate by people , even the creator of bitcoin cant control bitcoin.

Yep, Bitcoin can be used from anywhere, any place, even outta space. It is not being controlled by anyone or any governments. That's why people, especially hackers love to use Bitcoin, they can hide their identity while using it.

Well, anonymity is not the strongest side of Bitcoin, that's why there are mixers. But perhaps anonymity is not the main purpose of it. The important thing is that Bitcoin continues to be a way to send money through the internet with ease, and at low cost. In addition, the use of Blockchain technology allows an efficient transparency mechanism.

[Kasabus]

Bitcoin is a worldwide currency on the Internet, so it is difficult to be manipulated artificially.
The final decision bitcoin value is not the people, but how many legal currency and circulation.

Bitcoin is not a worldwide currency its a crypto currency , bitcoin cant be controlled or manipulate by people , even the creator of bitcoin cant control bitcoin.

Yep, Bitcoin can be used from anywhere, any place, even outta space. It is not being controlled by anyone or any governments. That's why people, especially hackers love to use Bitcoin, they can hide their identity while using it.

Well, anonymity is not the strongest side of Bitcoin, that's why there are mixers. But perhaps anonymity is not the main purpose of it. The important thing is that Bitcoin continues to be a way to send money through the internet with ease, and at low cost. In addition, the use of Blockchain technology allows an efficient transparency mechanism.

With anonymous transaction only we feel safer compared to transacting using a 3rd party services, this advantage makes bitcoin great and since it's decentralized we are confident our money will not be lost as long as we ensure to strengthen our security with our wallets.

[deisik]

Bitcoin is a worldwide currency on the Internet, so it is difficult to be manipulated artificially.
The final decision bitcoin value is not the people, but how many legal currency and circulation.

Bitcoin is not a worldwide currency its a crypto currency , bitcoin cant be controlled or manipulate by people , even the creator of bitcoin cant control bitcoin.

Bitcoin transaction is manipulated by blockchain.
If the blockchain has turned off or shut down, the bitcoin could not be used then. Hence, bitcoin is can be controlled or regulate

As I get it, the Bitcoin blockchain can be turned off if the whole Internet is brought down for a significant amount of time. With Bitcoin banks emerging, this issue can be effectively circumvented, at least as long as there is hope for the blockchain to come back online. I'm dead sure that such banks, if and when they appear, will be issuing paper deposit certificates which would work as offchain cash money, pretty much like paper dollars or other cash works today.

That's another reason why these banks can be useful

[QuestionAuthority]

Yes, you hit it right where it hurts. In my view, we can count as whales, or super-whales, the first thousand or hundred top Bitcoin holders. We can do basically the same with regard to whales among early adopters. Because their number will be much lower than the number of simple whales for obvious reasons, we should count only the first hundred of them.

Satoshi is gone and not spending any of his. So you can rule him out. Many of the early miners wasted their coins buying shit like 20,000 coin pizzas, Allinvane had his stolen, tons of the early miners lost them at MtGox and so on.

I think there's way, way less than 100 early adopters that still have 20,000 coins or more.

Your using "early adopter" interchangeably with "whale" and those aren't the same. The Winklevoss twins have mountains of Bitcoin but you wouldn't consider them early adopters. They could sell half of their stash and crash the price to a penny. I've been mining and buying for six years and even I could probably move the price $100 alone when I sell all.

Therefore you come to think that you are a big whale still even if you don't quite count as an early adopter? Of course, I can't ask you how much you have just because you wont't tell anyway, but if you don't mind, how high do you place yourself among top Bitcoin holders today, in the first thousand or in the first hundred? Is it like a pissing contest to you?

Of course it's a pissing contest to me. I worked hard mining both Bitcoin and altcoins, trading and buying to accrue as much btc as I have. You consider the first thousand users early adopters but what you possibly don't know is the first users were cycling a few Bitcoin through dark markets as drug tokens. They were doing what people today don't do and spending their Bitcoin because it wasn't about holding back then. You could consider the first 20-50 thousand users early adopters. A large group of those lost almost all their btc to scammers like Patrick Harnett, Trendon Shavers, Zhou Tong, Mark Karpeles and others. You could consider the first 100 thousand users early adopters because they started buying Bitcoin and mining at a time of really bad press when few people with a brain would even touch something as risky and tainted as Bitcoin. The reality is more like the first million or two users are early adopters because when people finally stop holding and start spending Bitcoin there will be billions of users. I survived through all of the early losses and kept acquiring btc. I'm in the group of the first million users so I am an early adopter but I'm no where near a whale. Roger Ver is a whale, the Winklevoss twins are whales and either of them could dump the Bitcoin market to nothing if they chose to. But they wouldn't because they have too much invested to lose.

[apriloni]

i think no one know that who controlling bitcoin and i heard that china controlling bitcoin but no one surely know about bitcoin and i hope we will sooner get the info about bitcoin in the future that who controlling it.

[abel1337]

Bitcoin is a worldwide currency on the Internet, so it is difficult to be manipulated artificially.
The final decision bitcoin value is not the people, but how many legal currency and circulation.

Bitcoin is not a worldwide currency its a crypto currency , bitcoin cant be controlled or manipulate by people , even the creator of bitcoin cant control bitcoin.

Yep, Bitcoin can be used from anywhere, any place, even outta space. It is not being controlled by anyone or any governments. That's why people, especially hackers love to use Bitcoin, they can hide their identity while using it.

Well, anonymity is not the strongest side of Bitcoin, that's why there are mixers. But perhaps anonymity is not the main purpose of it. The important thing is that Bitcoin continues to be a way to send money through the internet with ease, and at low cost. In addition, the use of Blockchain technology allows an efficient transparency mechanism.

With anonymous transaction only we feel safer compared to transacting using a 3rd party services, this advantage makes bitcoin great and since it's decentralized we are confident our money will not be lost as long as we ensure to strengthen our security with our wallets.

Its true that bitcoin's anonimity is a strong advantage on online transactions ,But for me it is not the strongest because low transaction fee is for me better than the anonimity of bitcoin. This is because I used bitcoin for my business and I dont need anonimity on it , The good part of bitcoin in my business is I can have lower fee in sending bitcoins.

[Potato Chips]

Who in the world controls the bitcoin?

Bitcoin is decentralized and no one controls it but the owner of the wallet itself. Basically, You control your own coins

I don't understand where it appeared and how it began to be one of the official currencies?

I don't think it is considered as an official currency but it is definitely seen as an alternative payment system. If you wanna know about its history kindly visit this? https://en.wikipedia.org/wiki/History_of_bitcoin

Who controls the course of Bitcoin?

Us the users controls its course. Example when many people boought bitcoin the price will increase and when many people sell it the price will decrease. It is tied by the laws of supply and demand

[Victorycoin]

Yes it is all about the programming and its developer . Only its developer is the responsible when and how he'll control it. Though it is really decentralized the controlling is based on the users interest and capability

It is unfortunate if this is the explanation you would render to people coming to you about who controls bitcoin! The meaning of bitcoin being decentralized simply means that no one person can fully call the shots for what happens with bitcoin, if anything, the impact of anyone person or group of persons with huge amounts of bitcoin can get to jolt the market only momentarily and before long, the market normalizes.

[tee-rex]

Yes, you hit it right where it hurts. In my view, we can count as whales, or super-whales, the first thousand or hundred top Bitcoin holders. We can do basically the same with regard to whales among early adopters. Because their number will be much lower than the number of simple whales for obvious reasons, we should count only the first hundred of them.

Satoshi is gone and not spending any of his. So you can rule him out. Many of the early miners wasted their coins buying shit like 20,000 coin pizzas, Allinvane had his stolen, tons of the early miners lost them at MtGox and so on.

I think there's way, way less than 100 early adopters that still have 20,000 coins or more.

Your using "early adopter" interchangeably with "whale" and those aren't the same. The Winklevoss twins have mountains of Bitcoin but you wouldn't consider them early adopters. They could sell half of their stash and crash the price to a penny. I've been mining and buying for six years and even I could probably move the price $100 alone when I sell all.

Therefore you come to think that you are a big whale still even if you don't quite count as an early adopter? Of course, I can't ask you how much you have just because you wont't tell anyway, but if you don't mind, how high do you place yourself among top Bitcoin holders today, in the first thousand or in the first hundred? Is it like a pissing contest to you?

Of course it's a pissing contest to me. I worked hard mining both Bitcoin and altcoins, trading and buying to accrue as much btc as I have. You consider the first thousand users early adopters but what you possibly don't know is the first users were cycling a few Bitcoin through dark markets as drug tokens. They were doing what people today don't do and spending their Bitcoin because it wasn't about holding back then. You could consider the first 20-50 thousand users early adopters. A large group of those lost almost all their btc to scammers like Patrick Harnett, Trendon Shavers, Zhou Tong, Mark Karpeles and others. You could consider the first 100 thousand users early adopters because they started buying Bitcoin and mining at a time of really bad press when few people with a brain would even touch something as risky and tainted as Bitcoin. The reality is more like the first million or two users are early adopters because when people finally stop holding and start spending Bitcoin there will be billions of users. I survived through all of the early losses and kept acquiring btc. I'm in the group of the first million users so I am an early adopter but I'm no where near a whale. Roger Ver is a whale, the Winklevoss twins are whales and either of them could dump the Bitcoin market to nothing if they chose to. But they wouldn't because they have too much invested to lose.

Well... So you don't want to be officially considered a whale even though you alone can make the price drop 100 dollars, as per your own words. At the same time, you obviously wish to be respected as an early adopter even though you started mining bitcoins when it was no longer profitable to mine them using a cpu.

[QuestionAuthority]

Yes, you hit it right where it hurts. In my view, we can count as whales, or super-whales, the first thousand or hundred top Bitcoin holders. We can do basically the same with regard to whales among early adopters. Because their number will be much lower than the number of simple whales for obvious reasons, we should count only the first hundred of them.

Satoshi is gone and not spending any of his. So you can rule him out. Many of the early miners wasted their coins buying shit like 20,000 coin pizzas, Allinvane had his stolen, tons of the early miners lost them at MtGox and so on.

I think there's way, way less than 100 early adopters that still have 20,000 coins or more.

Your using "early adopter" interchangeably with "whale" and those aren't the same. The Winklevoss twins have mountains of Bitcoin but you wouldn't consider them early adopters. They could sell half of their stash and crash the price to a penny. I've been mining and buying for six years and even I could probably move the price $100 alone when I sell all.

Therefore you come to think that you are a big whale still even if you don't quite count as an early adopter? Of course, I can't ask you how much you have just because you wont't tell anyway, but if you don't mind, how high do you place yourself among top Bitcoin holders today, in the first thousand or in the first hundred? Is it like a pissing contest to you?

Of course it's a pissing contest to me. I worked hard mining both Bitcoin and altcoins, trading and buying to accrue as much btc as I have. You consider the first thousand users early adopters but what you possibly don't know is the first users were cycling a few Bitcoin through dark markets as drug tokens. They were doing what people today don't do and spending their Bitcoin because it wasn't about holding back then. You could consider the first 20-50 thousand users early adopters. A large group of those lost almost all their btc to scammers like Patrick Harnett, Trendon Shavers, Zhou Tong, Mark Karpeles and others. You could consider the first 100 thousand users early adopters because they started buying Bitcoin and mining at a time of really bad press when few people with a brain would even touch something as risky and tainted as Bitcoin. The reality is more like the first million or two users are early adopters because when people finally stop holding and start spending Bitcoin there will be billions of users. I survived through all of the early losses and kept acquiring btc. I'm in the group of the first million users so I am an early adopter but I'm no where near a whale. Roger Ver is a whale, the Winklevoss twins are whales and either of them could dump the Bitcoin market to nothing if they chose to. But they wouldn't because they have too much invested to lose.

Well... So you don't want to be officially considered a whale even though you alone can make the price drop 100 dollars, as per your own words. At the same time, you obviously wish to be respected as an early adopter even though you started mining bitcoins when it was no longer profitable to mine them using a cpu.

It's really not that hard to start a panic. A well placed story with a small sell off can start a run especially in Bitcoin. See, that's where you're understanding fails. There's nothing respectable or to be respected in being an early adopter. I know a few of them and have met them in person, face to face. Some of them are clowns and dumbasses. One of them is nothing more than a drug addict. But all of them share one thing in common. They acquired Bitcoin early on. That has everything to do with luck of the draw and nothing to do with respect but you don't understand that. Very few people mined them with a CPU. You should call them founders not early adopters. Your talking about people with an in-depth understanding of cryptography, mathematics, economics and coding that allowed them to see the value of something that was worth nothing at the time.

[tee-rex]

It's really not that hard to start a panic. A well placed story with a small sell off can start a run especially in Bitcoin. See, that's where you're understanding fails. There's nothing respectable or to be respected in being an early adopter. I know a few of them and have met them in person, face to face. Some of them are clowns and dumbasses. One of them is nothing more than a drug addict. But all of them share one thing in common. They acquired Bitcoin early on. That has everything to do with luck of the draw and nothing to do with respect but you don't understand that. Very few people mined them with a CPU. You should call them founders not early adopters. Your talking about people with an in-depth understanding of cryptography, mathematics, economics and coding that allowed them to see the value of something that was worth nothing at the time.

Well, I sort of agree with you that there may be nothing in being an early adopter to be respected for, but people still tend to respect people with money, even if the money they have got was no more than luck alone or was obtained illegally. Of course, not all people are like this, but in general people would certainly prefer to be friends of those dudes than their enemies. Do the people you described still possess the bitcoins which they acquired early on?

[QuestionAuthority]

It's really not that hard to start a panic. A well placed story with a small sell off can start a run especially in Bitcoin. See, that's where you're understanding fails. There's nothing respectable or to be respected in being an early adopter. I know a few of them and have met them in person, face to face. Some of them are clowns and dumbasses. One of them is nothing more than a drug addict. But all of them share one thing in common. They acquired Bitcoin early on. That has everything to do with luck of the draw and nothing to do with respect but you don't understand that. Very few people mined them with a CPU. You should call them founders not early adopters. Your talking about people with an in-depth understanding of cryptography, mathematics, economics and coding that allowed them to see the value of something that was worth nothing at the time.

Well, I sort of agree with you that there may be nothing in being an early adopter to be respected for, but people still tend to respect people with money, even if the money they have got was no more than luck alone or was obtained illegally. Of course, not all people are like this, but in general people would certainly prefer to be friends of those dudes than their enemies. Do the people you described still possess the bitcoins which they acquired early on?

Ok, you get it. I agree average individuals respect people with money. For some reason they believe the acquisition of wealth equals intelligence and understanding on a level beyond their abilities. You're right, they absolutely do want to be friends with wealthy people which is inexplicable to me. Every wealthy person I've ever known has been a raging asshole that believes the world owes them something. Maybe they feel some of that understanding will pass to them or maybe they are simply looking for a handout, I don't know.

It's impossible to know exactly how many early miners are still holding their bitcoins. I suspect that more than a million btc mined by Satoshi are lost because they have never moved. There has been plenty of bubble spikes that would be awfully tempting to someone with that many btc. At any point he could have cashed out some and bought himself a nice island to retire on. He needed to mine to keep the currency going but perhaps he chose to destroy those early coins believing his invention (his baby) could be killed by a saboteur if they fell into the wrong hands. We could live the rest of our lives only to see those coins never move and not know why.

I have spoken to people like Ray Dillinger (original tester of Bitcoin with Hal Finney), BitcoinFX (still active on this forum) and many others that say they spent and didn't keep large quantities of the early mined Bitcoin believing it would never be valued as high as it is now. To many of them it was "magic internet money" that they spent buying a 20,000 btc pizza and donating to faucets to bring new users on board. I still have 20 or so btc that I got from faucets. Can you believe they used to just give whole bitcoins away at faucets? Crazy right? Are the founders of Bitcoin lying and sitting on masses of btc? I don't think so. If you parse the blockchain you will see lots of movement of early coins after the Satoshi coins were mined. That means whoever mined those coins sent them somewhere but was it to another wallet under their control? The truth is we will never really know for sure how much they are holding.

I just thought of one other example of how little Bitcoin meant to people back then. Did you know that to become a VIP member of this forum you had to donate 50 btc? At the ATH of Bitcoin that amounts to a $60,000 donation to be a VIP member of an obscure little forum. If that doesn't tell you how stupid rich people are nothing will. ROFL  

[gembitz]

It's really not that hard to start a panic. A well placed story with a small sell off can start a run especially in Bitcoin. See, that's where you're understanding fails. There's nothing respectable or to be respected in being an early adopter. I know a few of them and have met them in person, face to face. Some of them are clowns and dumbasses. One of them is nothing more than a drug addict. But all of them share one thing in common. They acquired Bitcoin early on. That has everything to do with luck of the draw and nothing to do with respect but you don't understand that. Very few people mined them with a CPU. You should call them founders not early adopters. Your talking about people with an in-depth understanding of cryptography, mathematics, economics and coding that allowed them to see the value of something that was worth nothing at the time.

Well, I sort of agree with you that there may be nothing in being an early adopter to be respected for, but people still tend to respect people with money, even if the money they have got was no more than luck alone or was obtained illegally. Of course, not all people are like this, but in general people would certainly prefer to be friends of those dudes than their enemies. Do the people you described still possess the bitcoins which they acquired early on?

Ok, you get it. I agree average individuals respect people with money. For some reason they believe the acquisition of wealth equals intelligence and understanding on a level beyond their abilities. You're right, they absolutely do want to be friends with wealthy people which is inexplicable to me. Every wealthy person I've ever known has been a raging asshole that believes the world owes them something. Maybe they feel some of that understanding will pass to them or maybe they are simply looking for a handout, I don't know.

It's impossible to know exactly how many early miners are still holding their bitcoins. I suspect that more than a million btc mined by Satoshi are lost because they have never moved. There has been plenty of bubble spikes that would be awfully tempting to someone with that many btc. At any point he could have cashed out some and bought himself a nice island to retire on. He needed to mine to keep the currency going but perhaps he chose to destroy those early coins believing his invention (his baby) could be killed by a saboteur if they fell into the wrong hands. We could live the rest of our lives only to see those coins never move and not know why.

I have spoken to people like Ray Dillinger (original tester of Bitcoin with Hal Finney), BitcoinFX (still active on this forum) and many others that say they spent and didn't keep large quantities of the early mined Bitcoin believing it would never be valued as high as it is now. To many of them it was "magic internet money" that they spent buying a 20,000 btc pizza and donating to faucets to bring new users on board. I still have 20 or so btc that I got from faucets. Can you believe they used to just give whole bitcoins away at faucets? Crazy right? Are the founders of Bitcoin lying and sitting on masses of btc? I don't think so. If you parse the blockchain you will see lots of movement of early coins after the Satoshi coins were mined. That means whoever mined those coins sent them somewhere but was it to another wallet under their control? The truth is we will never really know for sure how much they are holding.

I just thought of one other example of how little Bitcoin meant to people back then. Did you know that to become a VIP member of this forum you had to donate 50 btc? At the ATH of Bitcoin that amounts to a $60,000 donation to be a VIP member of an obscure little forum. If that doesn't tell you how stupid rich people are nothing will. ROFL  

^ya in the early days ~20000BTC was like chump change  *bath salts lol

[audaciousbeing]

Why should I bother myself with who controls Bitcoin when the total of the Bitcoin I have is not even up to 1 btc that I have garnered. Even people who have more than me does not even bother themselves why me? But that will not be the case if I have upto like 100btcs with that I know that will be a lot of my wealth tied down I will want to know as a result of that but for now, its basically the function of demand and supply that controls Bitcoin.

[RichTeam]

Bitcoin control by nobody but everybody could earn bitcoin with mining using PC (CPU or GPU) or Other hardware with higher hash rate to increase the mathematical problem solutions which will produce bitcoin as the reward..!  Bitcoin is stronger than other currencies because it prevent corruption due to only limited bitcoin will be produce at certain time, but other currencies which relied on banks exposed to corruption because banks are printing money and the cost to produce $100 paper lower than 50 silver cent. Hope it make sense..! Million of Thanks to Satoshi for Invented Bitcoin..!   

[choppork]

Why should I bother myself with who controls Bitcoin when the total of the Bitcoin I have is not even up to 1 btc that I have garnered.

Yes.

You have not much bitcoins because you haven't invested any of your fiat into bitcoins. You're enrolled in a signature campaign so I'm assuming that your bitcoins came from that. You are enrolled in Byteball just like me at the moment I'm posting this. That means you need to make 30 posts in a week to get paid. You're consuming time and you're exerting effort to reach that requirement. That's an investment.

Assuming someone has the power to control our bitcoins like transferring our coins into his bitcoin wallet and yours got transferred to his, then all of your efforts would go to waste.

What I'm trying to say is that no matter how little your bitcoins is compared to how much other people has, you should mind all these things. You should be aware of these things.

[phantas1isback]

I think that every bitcoin user controls it

[QuestionAuthority]

^ya in the early days ~20000BTC was like chump change  *bath salts lol

Yep, that was the feeling. It's also the reason so many early bitcoiners ended up losing or spending much of those early mines coins. Those coins were just "bath salts" to them. LOL