Who controls the Bitcoins?

[rafi035]

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 the person who can control the price of bitcoin is a stock investor who has many bitcoin. unconsciously it will make the price decline

[warwar]

I dont think there is suchone person who controls bitcoins price and its circulation.Even though the mining is  not controlled by the creator.If there is one who controlls the price of bitcoin and circulation of it it is us, us users of bitcoins.We controls the number of amount of bitcoin circulatin, the number of bitcoin being mined and many more

[BeGoods]

Every wallet user have control over their wallet which makes bitcoins so powerful.

bitcoin is decentralized, so all the controls exist on the user's own, ranging from accounts, life of bitcoin, and bitcoin price depends on bitcoin users. all controlled by the user of bitcoin

[grandy]

No one controls Bitcoin. Some miners control its price. No government or organization can control Bitcoin fully. Some countries like China can partially control bitcoin , because most of the miners are from China.     

The miners can't control the price or even "some" as you've mentioned, the price depends on the demands from the market and could only affect by the market, though the miners are also part of the market if they're doing some activities such as buying or selling bitcoin.
I know china is where the most of the mining powers come from but they still can't really give a big impact to the whole system.

yes the minor do not have control over bitcoin.  in fact the demand and supply is controlling bitcoin. if the demand of bitcoin is increasing so the supply will decrease which increase the price of bitcoin. and when the demand is decreasing so the supply will increase and the price of bitcoin will also decrease.

[GalacticEmpire]

Bitcoin is decentralised which is a huge part of the reason for its existence, therefore no one controls Bitcoin.  It was created by the anonymous persona Satoshi Nakamoto, satoshi being the smallest unit of Bitcoin.  Everyone who uses Bitcoin controls it in a way, because they control where the transactions go, run services, give business to services, etc.

Some people like to argue that China controls Bitcoin, but the reality is that people in China are some of the people using Bitcoin, which doesn't limit people in other countries using or mining it at all.  Arguably, miners have a lot of power over Bitcoin especially since to mine profitably you need quite big businesses now.

[oktana]

Bitcoin is decentralised which is a huge part of the reason for its existence, therefore no one controls Bitcoin.  It was created by the anonymous persona Satoshi Nakamoto, satoshi being the smallest unit of Bitcoin.  Everyone who uses Bitcoin controls it in a way, because they control where the transactions go, run services, give business to services, etc.

Some people like to argue that China controls Bitcoin, but the reality is that people in China are some of the people using Bitcoin, which doesn't limit people in other countries using or mining it at all.  Arguably, miners have a lot of power over Bitcoin especially since to mine profitably you need quite big businesses now.

FIAT currency created by country's financial institutions, it's able to be controlled by government, Bitcoin can't be controlled by anyone (not yet), except Satoshi Nakamoto emerged as the bitcoin center when first launched. We can only control bitcoin prices gradually. In this case, trade market in full control of the price movement.

What influences price of bitcoin with all sorts of trading market in China?

Because there is a very high trading volume than other places. But it's only temporary, because other countries have started intend to take over position of bitcoin prices, and was followed by an injection of funds of state banks, Japan is one of them.

[DoublerHunter]

No one controls Bitcoin. Some miners control its price. No government or organization can control Bitcoin fully. Some countries like China can partially control bitcoin , because most of the miners are from China.    

The miners can't control the price or even "some" as you've mentioned, the price depends on the demands from the market and could only affect by the market, though the miners are also part of the market if they're doing some activities such as buying or selling bitcoin.
I know china is where the most of the mining powers come from but they still can't really give a big impact to the whole system.

yes the minor do not have control over bitcoin.  in fact the demand and supply is controlling bitcoin. if the demand of bitcoin is increasing so the supply will decrease which increase the price of bitcoin. and when the demand is decreasing so the supply will increase and the price of bitcoin will also decrease.

I think miners can control the price of bitcoin because they got the most of the supply of bitcoin. As you said, if the demand decreases it will make the price low, Like what a miner can do, because they have the most supply of bitcoin then they easily create fake demand by dumping their coins and then making a panic selling hype which can result for a hard dump.

[Xester]

No one controls Bitcoin. Some miners control its price. No government or organization can control Bitcoin fully. Some countries like China can partially control bitcoin , because most of the miners are from China.    

The miners can't control the price or even "some" as you've mentioned, the price depends on the demands from the market and could only affect by the market, though the miners are also part of the market if they're doing some activities such as buying or selling bitcoin.
I know china is where the most of the mining powers come from but they still can't really give a big impact to the whole system.

yes the minor do not have control over bitcoin.  in fact the demand and supply is controlling bitcoin. if the demand of bitcoin is increasing so the supply will decrease which increase the price of bitcoin. and when the demand is decreasing so the supply will increase and the price of bitcoin will also decrease.

I think miners can control the price of bitcoin because they got the most of the supply of bitcoin. As you said, if the demand decreases it will make the price low, Like what a miner can do, because they have the most supply of bitcoin then they easily create fake demand by dumping their coins and then making a panic selling hype which can result for a hard dump.

The miners have no control over bitcoin but on the mining of bitcoin. What controls the price of the bitcoin is the increasing demand for bitcoin by the users. Even if the miners will dump their coins if the number of users keep growing and the demand keep increasing the price will keep increasing. So in the end the price of bitcoin will depend on the demand of the users and the supply of bitcoin.

[bloodnest]

I'd say no one really. It's decentralized but as for it's value that could be determined from a large range of factors: miners and the market. On another point, however, while you technically can do whatever with your Bitcoins, if they're in an exchange or wallet or whatever that's been ceased, hacked, or shut down, your control tapers off as what happened with Mt. Gox and China exchanges right now.

[PhucS]

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?

Bitcoin decentralized nature, it is freedom. I think no one can control Bitcoin, it works without through the government or financial institutions. But it may be influenced by the organization, large community. Bitcoin is a digital currency has been encrypted, it can be exchanged, traded directly by the device with an Internet connection. Operating system is also based on an Internet protocol-based networks. Bitcoin process can be created by users, miners and traders. They trading and create Bitcoin flow.
Nobody controls Bitcoin but there is a news,Bitcoin was founded by Satoshi Nakamoto. I'm not sure of this, it is a mystery.

[deisik]

No one controls Bitcoin. Some miners control its price. No government or organization can control Bitcoin fully. Some countries like China can partially control bitcoin , because most of the miners are from China.     

The miners can't control the price or even "some" as you've mentioned, the price depends on the demands from the market and could only affect by the market, though the miners are also part of the market if they're doing some activities such as buying or selling bitcoin.
I know china is where the most of the mining powers come from but they still can't really give a big impact to the whole system.

yes the minor do not have control over bitcoin.  in fact the demand and supply is controlling bitcoin. if the demand of bitcoin is increasing so the supply will decrease which increase the price of bitcoin. and when the demand is decreasing so the supply will increase and the price of bitcoin will also decrease.

I think miners can control the price of bitcoin because they got the most of the supply of bitcoin. As you said, if the demand decreases it will make the price low, Like what a miner can do, because they have the most supply of bitcoin then they easily create fake demand by dumping their coins and then making a panic selling hype which can result for a hard dump

Even if they control the best part of supply this may not have serious or dramatic effect on the prices (at least, mid to long term). How come? Because there is no reason to think that miners have universal agreement between themselves when to sell their bitcoins and how many of them. Some big mining farms may be trying to affect prices and some of them may be even colluding to make a concerted effort, but ultimately the effect thereof seems to be rather short lived anyway...

And rather counterproductive at that (for the wannabe Bitcoin price manipulors)

[nyanhtet]

Normally we can tell China control Bitcoin. Most of Miners are china, mining hardwares from china, network is centralized day by day.

[requester]

we the user and miners association controls the network of bitcoin. we user pay transaction fees to miners and they confirm the payment for us thus this is he simplest way how the bitcoin network is running. If you want to know that who is minner then the simple answer is: You too could be a miner by installing mining software in your PC.

[19Nov16]

I'm sure there's a very dominant bitcoin owner so it could control the price. and I'm sure that china is the owner who dominated the bitcoin. This we can see that the price of exchangers in china are the largest.

[TastyChillySauce00]

Normally we can tell China control Bitcoin. Most of Miners are china, mining hardwares from china, network is centralized day by day.

Doesn't mean China has controls over it as a whole. They're having the majority of mining powers indeed, but, other countries also have, I can't argue that China could affect the network and give pretty big impact.
Just hope that things will get more decentralised in the future.

[Monnt]

Normally we can tell China control Bitcoin. Most of Miners are china, mining hardwares from china, network is centralized day by day.

Doesn't mean China has controls over it as a whole. They're having the majority of mining powers indeed, but, other countries also have, I can't argue that China could affect the network and give pretty big impact.
Just hope that things will get more decentralised in the future.

It all depends, since electricity is very cheap in China means that the bitcoin miners there have a really good way to make profit even if they let their mining machine go for a whole day, so bitcoin is pretty common around china, and that makes them have a really big portion of the bitcoin 70% of user base and that is a lot so they pretty much control it.

[Holly-Dolly]

Bitcoin is decentralised which is a huge part of the reason for its existence, therefore no one controls Bitcoin.  It was created by the anonymous persona Satoshi Nakamoto, satoshi being the smallest unit of Bitcoin.  Everyone who uses Bitcoin controls it in a way, because they control where the transactions go, run services, give business to services, etc.

Some people like to argue that China controls Bitcoin, but the reality is that people in China are some of the people using Bitcoin, which doesn't limit people in other countries using or mining it at all.  Arguably, miners have a lot of power over Bitcoin especially since to mine profitably you need quite big businesses now.

FIAT currency created by country's financial institutions, it's able to be controlled by government, Bitcoin can't be controlled by anyone (not yet), except Satoshi Nakamoto emerged as the bitcoin center when first launched. We can only control bitcoin prices gradually. In this case, trade market in full control of the price movement.

What influences price of bitcoin with all sorts of trading market in China?

Because there is a very high trading volume than other places. But it's only temporary, because other countries have started intend to take over position of bitcoin prices, and was followed by an injection of funds of state banks, Japan is one of them.

Satoshi bitcoin sent to float freely, and are now almost no one can affect the bitcoin. Although if artificially to fallen or risen price.

[Orion25]

Normally we can tell China control Bitcoin. Most of Miners are china, mining hardwares from china, network is centralized day by day.

Doesn't mean China has controls over it as a whole. They're having the majority of mining powers indeed, but, other countries also have, I can't argue that China could affect the network and give pretty big impact.
Just hope that things will get more decentralised in the future.

It all depends, since electricity is very cheap in China means that the bitcoin miners there have a really good way to make profit even if they let their mining machine go for a whole day, so bitcoin is pretty common around china, and that makes them have a really big portion of the bitcoin 70% of user base and that is a lot so they pretty much control it.

You can zoom in blocks may change the scope of influence. The Chinese are really one of the most popular bitcoin miners, but 2mb today is very small.

[farl2web]

I'm sure there's a very dominant bitcoin owner so it could control the price. and I'm sure that china is the owner who dominated the bitcoin. This we can see that the price of exchangers in china are the largest.

That's when the bitcoin bank, and it was then a question of itself will disappear by itself, because it is bitcoin bank will complete and absolute controlling authority in the field of bitcoin.

[Jasad]

I'd say no one really. It's decentralized but as for it's value that could be determined from a large range of factors: miners and the market. On another point, however, while you technically can do whatever with your Bitcoins, if they're in an exchange or wallet or whatever that's been ceased, hacked, or shut down, your control tapers off as what happened with Mt. Gox and China exchanges right now.

it is decentralized indeed , but how about the 51% attack?
do you think it will still make bitcoin uncontrollable?
i don't think so , at this point it was bitcoin weakness ,
and it could happened anytime , some people can control bitcoin.