Who controls the Bitcoins?

[slapper]

Bitcoin is based on simple principle of Decentralisation.
The owner of Bitcoin is the one holding it.
Everyone who own Bitcoin are the owner of their Bitcoin. Once people transfer Bitcoin to other, it envolves transfer of ownership too!!

I totally agree. People are free to control their Bitcoin and no individual or government can govern other people's Bitcoin. Thanks to this system, Bitcoin can be considered as the most anonymous currency on this planet. However, the Bitcoin prices can be controlled. WHy? The China is the answer. They have over 50% of Bitcoin and 50% of mining pool in their country. This is the main reason why they can easily bump the coin and dump it

[gilangIDR]

I do not think there will be someone who can control the bitcoin. may have a great community that can move bitcoin, especially moving bitcoin prices in world financial markets.

[Frank Alister]

Nobody and everyone who use it. It's very simple, because people have the opportunity to change the price. There are not many rules and if you think about it there are no rules at all. So nobody specific controls it.

[20kevin20]

Nobody and everyone who use it. It's very simple, because people have the opportunity to change the price. There are not many rules and if you think about it there are no rules at all. So nobody specific controls it.

Exactly, we can change it in a second by only selling BTC for over $2000. The price is the amount we want to sell Bitcoin for. Except that, we also got the demand and the events which are influenting the change. BTC is controlled by us, that's why it's known as "being your own bank": you control all your wallets and transactions, even the fees.

[Tanic]

I think that's investors who control bitcoins. When it appear more investors who are ready to invest in bitcoin it's price is rising. And when bitcoin holders are selling bitcoin the price is going down.

[Tanic]

I think that's investors who control bitcoins. When it appear more investors who are ready to invest in bitcoin it's price is rising. And when bitcoin holders are selling bitcoin the price is going down.

[blackstone]

nobody has control over bitcoins .it is totally anonymous and it actually runs on an algorithm and people have started accepting it as currency in their way and starting valuing them thats y it is in this world it has so much important.

[GMPoison]

I think that's investors who control bitcoins. When it appear more investors who are ready to invest in bitcoin it's price is rising. And when bitcoin holders are selling bitcoin the price is going down.

The title doesn't say "who controls bitcoins price" though, technically speaking no one owns bitcoin because it's decentralized by nature.

[hurain]

It's a good question who controls the bitcoin. I think a group of dev controls it. Because for bitcoin, there are some private keys (for checkpoint and alert) that if one has it, he will be able to propagate his own blocks into the network. I think a few people hold the private keys there.

bitcoin is not under the control of a single person or group, because they cannot hae access to all the bitcoins address and wallets that belong to a particular person. to me those people who are holding bitcoins are the real owner of bitcoin and they can control such amount of bitcoins.

although most of the people think that Chinese are controlling bitcoin but to me i do not think so, i think bitcoin is a universal decentralize currency of the world and is not going going to be under control of a single country, actually the users of bitcoin are spread in all over the world and therefore it is as comparably hard to turn it as decentralize currency.

[agamasrori]

nobody has control over bitcoins .it is totally anonymous and it actually runs on an algorithm and people have started accepting it as currency in their way and starting valuing them thats y it is in this world it has so much important.

Yes you are right, but if there is someone has so many amount of bitcoin to influence bitcoin price is really possible. Bitcoin is mostly traded using chinese yuan. So I think china is control it.

[deisik]

It's a good question who controls the bitcoin. I think a group of dev controls it. Because for bitcoin, there are some private keys (for checkpoint and alert) that if one has it, he will be able to propagate his own blocks into the network. I think a few people hold the private keys there.

There's actually a website that has the private keys of all the bitcoin addresses. Funny because even if you do have it all saved on a .txt file, if will take you a lot of power and time (even years) before you can find the private key of a specific wallet. There have been discussion about this in this forum. There are just too many bitcoin addresses available and I really mean way many for you to be able to control bitcoins or hack someone using the list of all private keys.

I'm curious why people still believe in this nonsense

The site you refer to can't contain the private keys of all potentially possible bitcoin addresses by any chance since just to store them in some format would require all the Universe converted to storage devices and that would likely still not suffice. The guy who started that thread (I won't post a link so as not to promote it) is a shill who is deliberately spreading outright FUD. If the point is that the site can calculate all bitcoin addresses, I can just as well claim that the algorithm for calculating a Bitcoin key already contains all possible keys itself



The sleep of reason produces monsters

[hajimasan]

It is not any official currency of any country or organization. But it's a myth or something like that bitcoin is official currency of internet. Yes it's true that bitcoin rules the cryptocurrency world.

[Blitzboy]

nobody has control over bitcoins .it is totally anonymous and it actually runs on an algorithm and people have started accepting it as currency in their way and starting valuing them thats y it is in this world it has so much important.

Yes you are right, but if there is someone has so many amount of bitcoin to influence bitcoin price is really possible. Bitcoin is mostly traded using chinese yuan. So I think china is control it.

China is really having a big influence on the price of bitcoin and it does have many traders as well as miners. But the thing is that not China nor the people in it controls bitcoin, even bitcoin's inventor is still remain a myth to us, so it does seem that China is the big boss but no, nobody controls bitcoin, not us nor China nor aliens

[Fatanut]

It's a good question who controls the bitcoin. I think a group of dev controls it. Because for bitcoin, there are some private keys (for checkpoint and alert) that if one has it, he will be able to propagate his own blocks into the network. I think a few people hold the private keys there.

There's actually a website that has the private keys of all the bitcoin addresses. Funny because even if you do have it all saved on a .txt file, if will take you a lot of power and time (even years) before you can find the private key of a specific wallet. There have been discussion about this in this forum. There are just too many bitcoin addresses available and I really mean way many for you to be able to control bitcoins or hack someone using the list of all private keys.

I'm curious why people still believe in this nonsense

The site you refer to can't contain the private keys of all potentially possible bitcoin addresses by any chance since just to store them in some format would require all the Universe converted to storage devices and that would likely still not suffice. The guy who started that thread (I won't post a link so as not to promote it) is a shill who is deliberately spreading outright FUD. If the point is that the site can calculate all bitcoin addresses, I can just as well claim that the algorithm for calculating a Bitcoin key already contains all possible keys itself



The sleep of reason produces monsters

I've found the website that's on my mind. It's http://directory.io/. I thought you might be interested. I'm not sure what's on your mind, though. It does say that it generates the keys depending on the page (read: FAQ). If anyone wants some more explanation as to why your private keys can't be found using things like this, read this reddit post.

All links came from directory.io itself.

[Kasabus]

nobody has control over bitcoins .it is totally anonymous and it actually runs on an algorithm and people have started accepting it as currency in their way and starting valuing them thats y it is in this world it has so much important.

Yes you are right, but if there is someone has so many amount of bitcoin to influence bitcoin price is really possible. Bitcoin is mostly traded using chinese yuan. So I think china is control it.

China is really having a big influence on the price of bitcoin and it does have many traders as well as miners. But the thing is that not China nor the people in it controls bitcoin, even bitcoin's inventor is still remain a myth to us, so it does seem that China is the big boss but no, nobody controls bitcoin, not us nor China nor aliens

It's a game of supply and demand and we have think that china has the most supply because we think they have the control. Yeah, those who has the most supply will have the control because the demand is increasing and if they are holding they will make their holdings grow its value.

[MMA]

nobody has control over bitcoins .it is totally anonymous and it actually runs on an algorithm and people have started accepting it as currency in their way and starting valuing them thats y it is in this world it has so much important.

Yes you are right, but if there is someone has so many amount of bitcoin to influence bitcoin price is really possible. Bitcoin is mostly traded using chinese yuan. So I think china is control it.

China is really having a big influence on the price of bitcoin and it does have many traders as well as miners. But the thing is that not China nor the people in it controls bitcoin, even bitcoin's inventor is still remain a myth to us, so it does seem that China is the big boss but no, nobody controls bitcoin, not us nor China nor aliens

i am not agree with you. China cannot control or can influence bitcoin, because bitcoin is not a centralize currency, bitcoin is a decentralize universal currency of the world and not a sing country can effect or influence the price of bitcoin.

[the rise]

nobody has control over bitcoins .it is totally anonymous and it actually runs on an algorithm and people have started accepting it as currency in their way and starting valuing them thats y it is in this world it has so much important.

Yes you are right, but if there is someone has so many amount of bitcoin to influence bitcoin price is really possible. Bitcoin is mostly traded using chinese yuan. So I think china is control it.

China is really having a big influence on the price of bitcoin and it does have many traders as well as miners. But the thing is that not China nor the people in it controls bitcoin, even bitcoin's inventor is still remain a myth to us, so it does seem that China is the big boss but no, nobody controls bitcoin, not us nor China nor aliens

i am not agree with you. China cannot control or can influence bitcoin, because bitcoin is not a centralize currency, bitcoin is a decentralize universal currency of the world and not a sing country can effect or influence the price of bitcoin.

Who can control bitcoin, then they are first able to monopolize tax regulations. Unfortunately no one person or country can afford. But if we are talking about who is able to control the movement of bitcoin, the answer is the market, and China is one country that could make it into a movement that exploded in all directions.

[Vasilije69]

There is nothing official about BTC. It is decentralised, so basically no one controls it.

[genos]

There is nothing official about BTC. It is decentralised, so basically no one controls it.

Not like what you think are. China doesn't really controls bitcoin and managed the circulation of bitcoin and managed the fluctuations of bitcoin's price etc. We all are know that bitcoin is decentralised so no one really controls it. But this thread discusses how big influential which made by china toward bitcoin because in china many activities related to bitcoin as one of examples is mining. China has biggest mining pool.

[st0nefish]

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?

Just like no one else controls torrent networks, bitcoin is not in control of anyone.
Actually, can this system be manipulated? The system does not control anyone with normal operation. Control is something that everyone in the system uses.
But do I have any weaknesses that I am most curious about? Can the system take control of someone in the future? I'm not sure about that.