Who controls the Bitcoins?

[kaijialex]

There are different levels of controls when it comes to Bitcoin, There are Bitcoin miners, Bitcoin nodes, and Bitcoin owners with private keys.
Bitcoin miners control which transactions they can accept and which they cannot, this doesn't mean they can do whatever they want, because they themselves are limited on applying things that they agree on all of them.
Bitcoin nodes are where the Bitcoin blockchain is stored, that is all of the transactions in Bitcoin history.

And finally Bitcoin owners with addresses and their corresponding private keys, these are the owners of the bitcoins located in these addresses, unlike all the previous levels of controls, where all the participants in controlling that level have to agree on something for it to be applied, this is not the case for Bitcoin owners, where they themselves on their own can move their bitcoin wherever they want by themselves.

[poplolnman]

I agree with you, we knows that no one can controling bitcoin
the fluctuation of btc on the market is pure from the bitcoin community

Right, and until whenever I think bitcoin will never be controlled by anyone. However, some people consider bitcoin is controlled by people who have large capital, and I think it's a little true since in several exchanger price is controlled by a person. Whether it's from the exchanger or from users who have bitcoin with large numbers in that exchanger as he can influence the price movement bitcoin in "exchangers" not globally. Thank you

the bitcoin concept itself are decentralized , noone would know about this as the circulation spread out. but nowadays a lot of people think that chinese are the one who could manipulate the market they call it like 51% attack , some people believe more than half of bitcoin total available has been held by a chinese miner groups idk the truth about that.

[Omega Weapon]

It is so interesting to see how many people believe someone is "controlling" things. I guess it is the way humans tend to think. It reminds me of all our history. In the past no one could fathom that the weather was largely random and invented Gods to make sense of things. I suppose they wanted to feel like they had a sense of control. "Maybe if I pray hard to the god who controls the weather he will help?" In reality no one controls the weather.

I think that is just human nature, it seems difficult for some to accept that things just happens and there is no reason for it, that is a very common thing that happens to those that survive terrible accidents and then they think they survived for a reason when in fact it was just luck.

[coszy]

All the same, I hope that bitcoin is in the hands of users, rather than those who want financial freedom away again from people who gave the world cryptocurrency.

[Xester]

there is no one know that who is controlling the bitcoin and there is no proof about the controlling of bitcoin and there is a lot of people says that china controlling the bitcoin but i think it wrong news.

Actually though China is unable to control the bitcoin but they are controlling the bitcoin market.  A big issue recently had happened and that the reason why pboc of China investigates the Chinese exchangers. They are manipulating the market price and are faking their volumes. After the inspection the percentage of volume coming from China has lessened and it was a clear fact that they are faking their volume and has manipulating bitcoin price.

[n0ne]

I agree with you, we knows that no one can controling bitcoin
the fluctuation of btc on the market is pure from the bitcoin community

Right, and until whenever I think bitcoin will never be controlled by anyone. However, some people consider bitcoin is controlled by people who have large capital, and I think it's a little true since in several exchanger price is controlled by a person. Whether it's from the exchanger or from users who have bitcoin with large numbers in that exchanger as he can influence the price movement bitcoin in "exchangers" not globally. Thank you

the bitcoin concept itself are decentralized , noone would know about this as the circulation spread out. but nowadays a lot of people think that chinese are the one who could manipulate the market they call it like 51% attack , some people believe more than half of bitcoin total available has been held by a chinese miner groups idk the truth about that.

That might be true, because bitcoin users were found high in China as well the relative countries around it. Manipulation happens in accordance to the Chinese bitcoin market. Then onward depending upon Chinese bitcoin market this will change because exchanges have been found using fake volumes to manipulate the bitcoin price movements.

[Maslate]

I agree with you, we knows that no one can controling bitcoin
the fluctuation of btc on the market is pure from the bitcoin community

Right, and until whenever I think bitcoin will never be controlled by anyone. However, some people consider bitcoin is controlled by people who have large capital, and I think it's a little true since in several exchanger price is controlled by a person. Whether it's from the exchanger or from users who have bitcoin with large numbers in that exchanger as he can influence the price movement bitcoin in "exchangers" not globally. Thank you

the bitcoin concept itself are decentralized , noone would know about this as the circulation spread out. but nowadays a lot of people think that chinese are the one who could manipulate the market they call it like 51% attack , some people believe more than half of bitcoin total available has been held by a chinese miner groups idk the truth about that.

That might be true, because bitcoin users were found high in China as well the relative countries around it. Manipulation happens in accordance to the Chinese bitcoin market. Then onward depending upon Chinese bitcoin market this will change because exchanges have been found using fake volumes to manipulate the bitcoin price movements.

I believe most of us here are already expert when it comes to determining whether the price is manipulated or not, we will know if there is a bubble or not. When the price fall then we simply just buy it, if we think the Chinese people are manipulating it, we know it will again rise. The trend is very obvious, we just have to follow it.

[farhaan]

Bitcoin was created by satoshi as a decentralized currency. But, since china has huge mining power, most of the bitcoins are mined by chinese miners.Obviously, chinese hold majority of bitcoins so that they could decide the price of bitcoin. For every small changes occuring in china related tl bitcoin, it has a world wide impact.Its not good for bitcoin progress. Unfortunately, we have to accept that china controls the Bitcoin.

[bitcoindusts]

Bitcoin was created by satoshi as a decentralized currency. But, since china has huge mining power, most of the bitcoins are mined by chinese miners.Obviously, chinese hold majority of bitcoins so that they could decide the price of bitcoin. For every small changes occuring in china related tl bitcoin, it has a world wide impact.Its not good for bitcoin progress. Unfortunately, we have to accept that china controls the Bitcoin.

How does china control Bitcoin?  If you look at the mining charts, though several mining farm is located at china, it does not mean that chinese government own them.  This are different company with different people.  So there is no way that China is controlling bitcoin

[Reid]

It just looks like China is controlling it because of the reaction of bitcoin price whenever something is happening inside their ciountry. But it is actually all of us who can controk it. Try making a fuss about the largest holders of bitcoin or one exchange website and you can see a lot more than that.

[fasdorcas]

i dont think anyone controlls it..... most of the people are saying that china controls it but i dont think so...... i think a huge number of invester and user of bitcoins are from china and most of the mining companies are from china which has a impact on its price but i dont think they control it.....

[mmo_online_1981]

Users and control pricing through the exchange BTC, BTC exchange transfer regardless of the organization or individual and, depending on who held the key priv

[mrjoy15]

i dont think anyone controlls it..... most of the people are saying that china controls it but i dont think so...... i think a huge number of invester and user of bitcoins are from china and most of the mining companies are from china which has a impact on its price but i dont think they control it.....

Yes,its true that when we were talking about who controls the bitcoin most of people accept that china controls the Bitcoin.Question is there any possibility china does controls the Bitcoin market?Answer should be wrong.Actually in China there very popular activity of bitcoins.Nothing else.

[Winter1986]

i dont think anyone controlls it..... most of the people are saying that china controls it but i dont think so...... i think a huge number of invester and user of bitcoins are from china and most of the mining companies are from china which has a impact on its price but i dont think they control it.....

Yes,its true that when we were talking about who controls the bitcoin most of people accept that china controls the Bitcoin.Question is there any possibility china does controls the Bitcoin market?Answer should be wrong.Actually in China there very popular activity of bitcoins.Nothing else.

The Chinese leaders in this business very long time not because of their units small enough volume. If cryptocurrency large appear, control changes hands.

[instacalm]

Nobody controls all the Bitcoins, let alone "Bitcoin" as a whole -- but that's not quite important when it comes to the idea of Bitcoin. Because what is important is that you control your Bitcoin. In its core this is what Bitcoin is about.

[lilit]

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[wutard]

i dont think anyone controlls it..... most of the people are saying that china controls it but i dont think so...... i think a huge number of invester and user of bitcoins are from china and most of the mining companies are from china which has a impact on its price but i dont think they control it.....

If you just look at things properly, then we can immediately say unequivocally that the control functions performed by the users themselves cryptocurrency creating a whole network. Affect it no one can. Otherwise, it would not be decentralized bitcoin.

[Bitcoinsummoner]

Nobody controls all the Bitcoins, let alone "Bitcoin" as a whole -- but that's not quite important when it comes to the idea of Bitcoin. Because what is important is that you control your Bitcoin. In its core this is what Bitcoin is about.

I think not nobody?we are who control bitcoin if we are gone someday bitcoin will reduce the price or gone.. since bitcoin is depends in demand and supply people who are trading with bitcoin is one who helping to support increase the price or decrease the price just for buy low and sell high..

[Rastaman2016]

Nobody controls all the Bitcoins, let alone "Bitcoin" as a whole -- but that's not quite important when it comes to the idea of Bitcoin. Because what is important is that you control your Bitcoin. In its core this is what Bitcoin is about.

I think not nobody?we are who control bitcoin if we are gone someday bitcoin will reduce the price or gone.. since bitcoin is depends in demand and supply people who are trading with bitcoin is one who helping to support increase the price or decrease the price just for buy low and sell high..

In general, the level of production bitcoin, which will be closer to the end has a large impact on the price of bitcoin. Therefore, the user has control and it is the number of users creates demand, and uniquely his proposal.

[Omega Weapon]

If bitcoin can not be controlled, it is impossible to replace the official currency of a country. It is justified because the state had full interest to be able to control the currency. So I sure bitcoin can't controlled by anyone.

And the bitcoin is not having such elements to be the legitimate currency, it's not about the controlling of bitcoin. So, bitcoin is so far being accepted by the government.
Not surely, even there are a lot of chances to controlling the network of bitcoin.

It is a wonder that there are people reasoning like this and yet they are in this forum and even participating in signature campaigns, does not the campaign managers go through all that?

Bitcoin is decentralized by nature, making it free from the control of anyone or group of persons, but that is on the premise that the community plays its role effectively and not go to sleep thinking all would be well. For anyone that is truly abreast with developments in this industry, the Chinese are fast cornering Bitcoin!

Don’t underestimate bitcoin and its resistance, china have most of the miners because it has very cheap electricity but if bitcoin keeps increasing in price then suddenly more places will become able to have mines due to profitability.