CryptoFanholic
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March 13, 2018, 07:02:25 AM |
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No one controls it as it is decentralised and was created for the sole reason not to depend on anyone ... yet developments in bitcoin are controlled by a set of people you can find here : https://github.com/orgs/bitcoin/people |
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Dexion
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March 13, 2018, 07:14:43 AM |
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yes, I agree with you, bitcoin system can not be controlled, because is decentralized, and this is the main reason why bitcoin system is difficult to be hacked.
but there are some groups that can affect the bitcoin.
1. developers, they have a big influence on bitcoin, that is to write rule set in bitcoin protocol.
2. miners. they have a significant effect on the bitcoin system, writing down all the bitcoin transaction data in the blockchain. when bitcoins have hard fork, then the miner is the one who determines whether the system works good or not.
3. investors, they affect the value of bitcoin
4. trader.
5. exchange.
and the reason above is what distinguishes it from other payment systems.
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85655adlj
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March 13, 2018, 07:21:19 AM |
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Bitcoin is not controlled by anyone. Bitcoin is operated by users all over the world. It belongs to everyone.
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pandanpanda
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March 14, 2018, 07:55:58 AM |
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I think nobody can control or own the bitcoin system like they can not control and possess the technology by email and the internet. I think Bitcoin is no different than a mobile application or program that offers a personal Bitcoin wallet and allows users to send and receive Bitcoin.
As a decentralized system with a complicated design, we are hard to see. There are a number of players with more or less incidents (for example, miners, holders, exchanges, even developers), but one of them may have more power than others in terms of improvements to the Bitcoin protocol technology to be performed. |
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btcprospecter
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★777Coin.com★ Fun BTC Casino!
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March 14, 2018, 08:00:58 AM |
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Bitcoin is controlled by us the people it is decentralised meaning nobody has full control of it.
Satoshi may have first implemented it but nobody knows for certain who or where he is. His coins have never moved. Let's hope he never forgot his private keys.
We even control the value if more people want bitcoin the price goes up and vice versa.
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crazyjack
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March 14, 2018, 08:02:03 AM |
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Man, listen to yourself, btc is controlled by minority who holds most of btc. Its all about money and power. Dont be fooled that this system (btc) is something different than others where money is involved. Everything gets exploited in man's hand. Its just what we have in nature. A self-destructive mechanism.
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Troysen
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March 14, 2018, 08:28:49 AM |
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Bitcoin is independent and decentralized, that's why it operates free of any institutional controls. there are however a team of developers who make updates and improvements on its operating system to increase its efficiency
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Lexurdania
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March 14, 2018, 12:38:07 PM |
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I think nobody can control or own the bitcoin system like they can not control and possess the technology by email and the internet. I think Bitcoin is no different than a mobile application or program that offers a personal Bitcoin wallet and allows users to send and receive Bitcoin.
With blockchain system, there is no people, organization, or government institution able to control bitcoin because its decentralized. Because its decentralized so a lot of Government and the central bank in many country are prohibiting the circulation of bitcoin. |
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iram1011
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March 14, 2018, 12:44:57 PM
Last edit: March 14, 2018, 01:04:31 PM by iram1011 |
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Bitcoin is indeed a decentralized monetary system.
But is the situation same?
Isn't the manipulation from Market Makers(MMs) has intensified recently?
Since December last year, many big financial institution were able to enter the market and now hold a decent percentage of the whole marketcap. I was watching the Bitmex charts and noticed how badly the manipulation is being done. The bulk holders are screwing longs and shorts equally without any set pattern. Bitcoin, since the year started, isn't following any chart sequence because MMs understand how the market sentiment works. Added to that, those exchanges who have all the data of sell and buy orders are also a big manipulator in the game.
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Piggymonster
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March 14, 2018, 12:50:25 PM |
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I think all the people around the world who use and invest in bitcoins are the ones in control. When there is no one who value bitcoin it will became worthless.
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Fazlurkhan.kz
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March 14, 2018, 12:52:02 PM |
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It is technically controlled by the bitcoin community, the people who use bitcoin, mine it, trade it and believe in its future.
Trader make transactions of Bitcoin and Miners help these transactions of bitcoin possible and easy and the believers of bitcoin just hodl it!
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noictib
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March 14, 2018, 01:16:50 PM |
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I think nobody can control or own the bitcoin system like they can not control and possess the technology by email and the internet. I think Bitcoin is no different than a mobile application or program that offers a personal Bitcoin wallet and allows users to send and receive Bitcoin.
In actual bitcoin technology is not just a app system or any site system that is using any data that we send at one side and wirtten data show at another side , but in actual there exists a type of transfer of actual data of the system . In actual no any thing here works for direct transfer but a type of the algorithm works where many things like miners works and also another system where block system are working . And another thing is that here we have no input and output system where we can't inject our data or any script and also there exists a private key system which helps us to handle the bitcoin containing adress only . So it is not a simple type of system that you are thinking , it is more secure than what the banking sector are using the technology . |
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AmericanBit
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March 14, 2018, 01:20:48 PM |
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Interesting question, Bitcoin is very difficult and complex system, I thin it would be difficult to control it fully, but still I think there should be some general control tools. maybe I am mistaken.
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putrisa
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March 14, 2018, 01:26:49 PM |
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I think nobody can control or own the bitcoin system like they can not control and possess the technology by email and the internet. I think Bitcoin is no different than a mobile application or program that offers a personal Bitcoin wallet and allows users to send and receive Bitcoin.
I think the overall movement of pure bitcoin is only in the control of demand and the total supply available, if the total supply available is very limited it is certain the price will rise, not only that the end of this much bad news circulating from bitcoin and make the price of bitcoin crushed . |
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Heronzkey
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March 14, 2018, 01:28:16 PM |
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As I read and heard, there is no control over bitcoin, but the only program on the computer controls it, and I think it's true, it's better to have this, no one can move on here.
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FalcoonRed
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March 14, 2018, 01:34:41 PM |
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I think nobody can control or own the bitcoin system like they can not control and possess the technology by email and the internet. I think Bitcoin is no different than a mobile application or program that offers a personal Bitcoin wallet and allows users to send and receive Bitcoin.
that is also what I think and become a question in my mind, I asked to some of my friends, they also can not answer. perhaps in this group I can get an accurate answer. I see the answers in this group vary and do not fit my mind. |
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ariscan
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March 14, 2018, 01:42:09 PM |
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we all know that bitcoin is not decentralized by anyone. but the development of bitcoin is controlled by the bitcoin users themselves. price setting on the market, development of new members and investors. they affect the market of bitcoin in the world.
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Niobeh
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March 14, 2018, 01:42:31 PM |
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I think nobody can control or own the bitcoin system like they can not control and possess the technology by email and the internet. I think Bitcoin is no different than a mobile application or program that offers a personal Bitcoin wallet and allows users to send and receive Bitcoin.
I dont know but we all know that is is a decentralized factor so thats great about that.But I'm so thankful of bitcoin thats why I'm very much thankful. |
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calxibe
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March 14, 2018, 01:43:57 PM |
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Since changes are done by voting, the biggest pools controls what changes to be made on the protocol.
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nhoj25
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March 14, 2018, 01:51:34 PM |
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I think nobody can control or own the bitcoin system like they can not control and possess the technology by email and the internet. I think Bitcoin is no different than a mobile application or program that offers a personal Bitcoin wallet and allows users to send and receive Bitcoin.
As a decentralized form of currency, Bitcoin prides itself on having no governing body. It is completely run by the people who use it.Technically it’s controlled by the community that consists of developers / miners / traders / those who hold this particular currency |
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