Who controls the Bitcoins?

[Gembul]

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 no ones control bitcoin. Bitcoin emerged as one of the characters called satoshi Nakamoto, he as the founder bitcoin has a great influence. Bitcoin itself was created as a digital currency, which can support our daily purposes. But if you are discussing who control the bitcoin prices or the most influence on price changes bitcoin is the china market. In my opinion and some people because bitcoin trading volume in china fairly large, it is used as a reference bitcoin market from other countries. Thank you

[Digitalbitcoin]

Basically biggest share of Bitcoins which are mined till date China have. As well as most of Bitcoin mining pools are also based in China. Almost every cryptocurrency is mined and staked at higher quantity in China.

So you can say Bitcoin is centralised by Chinese. Because Bitcoin is prime currency among Crypto market.

[deisik]

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

I know about that site, and I referred to it specifically in my post

Don't you find it rather strange that the site basically claims that there are 904625697166532776746648320380374280100293470930272690489102837043110636675 pages on it? If you have a half functioning brain, you would understand that the site can't possibly contain so many pages (let alone have "the private keys of all the bitcoin addresses" as you stated). In fact, the web server running this site can't even address this quantity of pages directly, and it is not even a number itself but a string value which consists of figures representing the number of allegedly reachable pages. So it is no more than a joke at best. What's the purpose of generating these keys if you could just as easily use vanitygen (or similar tool) to generate as many private keys (theoretically all private keys)?

[tabas]

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.

I will not argue about that and probably I will just agree that China is one of the most influential country when it comes to different price movements of bitcoin even though they don't have total control for it. But they can reach whatever they want when people who has a lot of bitcoins their will do one accord selling and make the price lower or one accord buying to make the price higher.

[bravehearth0319]

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?

For me, we are the one who controls our bitcoin not by the others or anyone in the world. The more users increase is the more value increase too.

[danherbias07]

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?

For me, we are the one who controls our bitcoin not by the others or anyone in the world. The more users increase is the more value increase too.

Maybe true. We cant just increase our population here. We need some users "the one who will really use" or the ones who will buy, not those who will just sign and say they have a bitcoin address.

[carlerha]

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?

For me, we are the one who controls our bitcoin not by the others or anyone in the world. The more users increase is the more value increase too.

Maybe true. We cant just increase our population here. We need some users "the one who will really use" or the ones who will buy, not those who will just sign and say they have a bitcoin address.

yes that is a fact we really need to increase the population of bitcoin, because if the population of bitcoin will increase then bitcoin will become more convinient for us to use it as fiat currency.

[Ravion]

This thread should not be created, the answer is very easy and the question is very simple. One click in google then problem solve. Maybe next time a thread that will be created is something worth discussing for.

Sure, but there's not that much to say about bitcoin so we like to rehash the same shit over and over again for our signature campaigns.  If we googled everything we'd never make any money.

You can find full specter of opinions about virtually anything in Google. You can even find people who are earnestly believing that the Earth is flat and Elvis still alive (and a lot of similar bullshit). But would Google tell us that you have been "mining and buying [Bitcoin] for six years" and could potentially "move the price $100 alone" if you chose so? I mean apart from cashing Bitcointalk? In other words, do you consider yourself as a Bitcoin "controller", at least, to a certain degree?

Do you feel the power and magic?

Of course I am. So are you. Everyone that uses young technology controls it. If we, as a small group of users, decided to stop using Bitcoin tomorrow and sell out it would disappear. Collect up a small group of users with say 5000 coins each and get them to start dumping and the price would crash. A crashing price causes a panic and more selling.

Several studies of early mining showed that Satoshi premined over a million btc. If Satoshi really is one person and decided to create a better virtual currency he might want to move people away from Bitcoin first. He could even get the day traders to stop using Bitcoin. All he would have to do is start dumping coins and create a run on the price. Others would follow and start dumping. Every time the downward momentum slowed Satoshi jumps back in and starts dumping until it hits the bottom. Then he waits for a small recovery and dumps again. He has enough coins to do that dozens of times. Do that enough and traders will find a new toy to play with.  

That's the big joke surrounding all the discussions of a government taking over mining to destroy Bitcoin. Why set up all that equipment and operate it when they could simply contact a few private owners, threaten them and buy huge stashes of Bitcoin off book. Then they follow the above procedure to keep the exchange rate dumped. Bitcoin has almost no real economy right now. Remove trading from the picture and Bitcoin will be valueless. Oh sure, there are a handful of people that would use it like trading cards. Hell, I'm sure their are a handful of people still using Commodore 64 consoles too but I don't think they're ever making a comeback.

So Satoshi Nakamoto controls Bitcoins anonimously. I don't know if it's true, but at some point, considering it's true, someone or a group of persons could have a bigger amount of Bitcoins than Satoshi and they can join themselves to do what they want with the BTC price. In the end, who has more coins will control Bitcoins, it happens in any place with anything with no regulamentations, without rules.

I'm not saying it's bad or not, it's an experience and we will see what happens in the future and take our own conclusions.

There are probably various groups that have influence over the price of Bitcoin, but what really controls it, is only supply and demand. Any influence that any company or state has is mainly because of the amount of Bitcoins that they have, or because of the large mining capacity they have. At this price, the price of Bitcoin can be manipulated, though. It's said that these days the Chinese have a lot of influence over the price.
If Bitcoin were to be owned and controlled by any group or state, many people would stop using it, and then they would perhaps start using other similar currencies.

[Supebox]

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

Yes that is true and you can also see this at the fact that if they are pump and dumping the whole price gets unstable..

[TravisNeko]

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

Yes that is true and you can also see this at the fact that if they are pump and dumping the whole price gets unstable..

Yes I also think that China has a lot of power and you can see this also at the last price increasing and crash.

[bitllionaire]

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?

For me, we are the one who controls our bitcoin not by the others or anyone in the world. The more users increase is the more value increase too.

Maybe true. We cant just increase our population here. We need some users "the one who will really use" or the ones who will buy, not those who will just sign and say they have a bitcoin address.

we can increase the number of bitcoin users if we introduce bitcoin in our area. i think it our responsibility to convince our our friends and relatives to start using bitcoin. because if the users of bitcoin will increase defiantly bitcoin will become more and more stronger and reliable.

[Vuizel]

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

Yes it is has a big influence on the bitcoin and we can really see this at the price right now, I think that we should do something against it...really.

[DerDerrick]

Cryptocurrencies are the wild west of the modern economy, there are no regulators and no police.  Exchanges profit by being the middleman for money moving into and out of the network. If the cash flows dry up the exchanges may close their doors, refusing to echange real money for "cryptocoins" (if they did it all at the same time that would be quite a spectacle)

I agree its a wild west, no police that is watching it, we ourselves are some how controlling it as buyers and sellers.

[BeGoods]

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

Yes it is has a big influence on the bitcoin and we can really see this at the price right now, I think that we should do something against it...really.

yeah it is because China has a total bitcoin users is very large. so that when users in the country to do something that would give effect to the bitcoin, because in truth bitcoin is controlled by the users themselves

[jovs]

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

Yes it is has a big influence on the bitcoin and we can really see this at the price right now, I think that we should do something against it...really.

yeah it is because China has a total bitcoin users is very large. so that when users in the country to do something that would give effect to the bitcoin, because in truth bitcoin is controlled by the users themselves

Yet, something went ridiculous in China. They have so many issues, hope it's not true. I have lose so much money, actually in our country because of what happned. Whatever happens, do not afrraid to hold your btcn yet some people said it's ponzi scheme. In my own opinion, btw will rise soon, don't believe on something that has no proofs, also read about btc news.

[Velkro]

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?

There is a long way for you my friend. Learn Learn Learn.
Read but if you don't like reading articles etc. watch bitcoin documentaries. Its fun way to learn basics about bitcoin.
Anyway, noone controls bitcoin. It appeared from chaos, its true revolution.

[tabas]

Cryptocurrencies are the wild west of the modern economy, there are no regulators and no police.  Exchanges profit by being the middleman for money moving into and out of the network. If the cash flows dry up the exchanges may close their doors, refusing to echange real money for "cryptocoins" (if they did it all at the same time that would be quite a spectacle)

I agree its a wild west, no police that is watching it, we ourselves are some how controlling it as buyers and sellers.

Yeah there is no control in bitcoin or there is no great power that controls it. It's supply is limited and even with that no one is controlling it. Bitcoin is more of a freedom and that's why everyone loves it. Buyers and sellers are even happy because there is no taxation for it but that's why big people are taking advantage of this, they can do hoarding which has an effect to the whole bitcoin economy.

[Botnake]

Cryptocurrencies are the wild west of the modern economy, there are no regulators and no police.  Exchanges profit by being the middleman for money moving into and out of the network. If the cash flows dry up the exchanges may close their doors, refusing to echange real money for "cryptocoins" (if they did it all at the same time that would be quite a spectacle)

I agree its a wild west, no police that is watching it, we ourselves are some how controlling it as buyers and sellers.

Yeah there is no control in bitcoin or there is no great power that controls it. It's supply is limited and even with that no one is controlling it. Bitcoin is more of a freedom and that's why everyone loves it. Buyers and sellers are even happy because there is no taxation for it but that's why big people are taking advantage of this, they can do hoarding which has an effect to the whole bitcoin economy.

We are definitely enjoying the freedom to transact by using our bitcoin, no law to comply so we do not break any law. What's best with bitcoin is in a matter of seconds, transaction can be done and we do not need to know each other as it's anonymous, what we are doing is we trust each other.

Honestly, I gotta say that I'm a gambler and it's the best experience so far when I began to gamble with bitcoin.

[President79]

I'm sure the group in china that control bitcoin, we all know the price of bitcoin looks easy to control so I'm sure there is a large community that benefited and could dump of bitcoin prices.

[millgates]

I'm sure the group in china that control bitcoin, we all know the price of bitcoin looks easy to control so I'm sure there is a large community that benefited and could dump of bitcoin prices.

More than 70% of bitcoin transaction is traded using yuan. Two things that can make the group in china can not control bitcoin again is the circulation and deployment of bitcoin.