Who controls the Bitcoin system?

[BitChief]

The whole bitcoin system is not controlled by any organization that's why it's called decentralized too, it only need players as key to play with it, and that's us. Some manage the site for this activity one is our forum which is the bitcointalk.org but they don't control all of the user they merely manage it.

That is the powerful thing about bitcoin, the people control it. However it is worth noting that this can still be gamed, people with large holdings and the large industry players have a great deal of influencer over bitcoin.

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[Blackhammer321]

Nobody can control the bitcoin because of decentralization it had on its system and No one can put a hand on blockchain network since we are running it. I think bitcoin can control externally by the government, because not every government are really with the side of bitcoin, they cannot control the bitcoin itself but they can make limits on circulation.

[Rustandy]

no one controls it, bitcoin is only controlled all its users, developers only improve software but can not impose changes in bitcoin protocol

[masterchief001]

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 agree with your point of view. No one can control the bitcoin, it depends a lot on the player psychology. But there will be a strict bitcoin management system on the computer network to ensure the safety of bitcoin participants. Without any form of management, the bitcoin will not last long. In Japan they are very strict about bitcoin.

[Tonygold1967]

I do not think that it is controlled.

[dnxfgjhk]

Bitcoin is controlled by its demand and supply through its holders and interested investors,traders. But one more thing that the price fluctuations is due to big whales trading and also due to some bad or fake news.

In fact, it can be said that it is on the global Internet that tens of thousands of computers are connected into a network to form a super server. The role of this server is to record Bitcoin. Because this super server is made up of thousands of computers on the Internet. Therefore, no one can tamper with the data, and no country or agency can manipulate it.

[RudeeTam]

Well from my understanding, nobody can control the bitcoin "ledger" or blockchain. But the system/mining is being maintained and updated by groups. It's open source so anyone can see if it's being maliciously edited or not.

[katiecbell]

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.

Bitcoin and other decentralized cryptocurrencies are controlled by everyone yet not controlled by anyone. Bitcoin is decentralized and hence, its price cannot be manipulated by any single person or authority, it is owned by people all over the world, therefore it is controlled by the whole community and not by any single person or authority.

The price of bitcoin is determined by supply and demand like any other asset in the world. The more the demand, the more is the price as the supply is limited.

[pinggoki]

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.

Indeed, as far as I know bitcoin is a decentralize, meaning no one owns or have a control upon it. And that is what make bitcoin best currencies because it is far for being control by government. The only things we could control upon it is the voltality. However, there are times that bitcoin can be controlled by community not a person or authority.

[Mantisa83]

I just love watching a desperate repressive government struggling to control something it cannot.

[jonhsongotti]

No one can control Btc as nobody can control the email or the internet. Btc was one of the key innovations of the decade, with the technology behind it being Blockchain

[setupbounds]

There are people who own a very large percentage of the extracted bitcoins.
If they want to change the price, they will do it.

And there is no question of any decentralization!
Bitcoin has become a means of manipulation.

There is difference between the term controlling and manipulation. The price of bitcoin cannot be controlled by anyone, but it can be manipulated by group of people or government or media. Usually we see some sharp gains and sharp drops in the prices of bitcoin and other crypto currencies, that is usually when whale(people that hold handsome amount of crypto)buy or sell their holdings or when a government has announced a ban or legalisation.

Therefore, bitcoin can be manipulated by bigger players in the market, but it can never be controlled and the manipulation too doesn’t lasts long.

[0t3p0t]

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.

Bitcoin is a community based asset therefore the whole community has the control of it's market. Though not literally because no one owns the Bitcoin system as it uses a decentralized blockchain technology. This is actually the best feature Satoshi wants to be used by us who wants financial freedom and believes the technology he created to further protect us from greed.

[JerryJam]

Bitcoin has a great potential. Blockchain gives an opportunity to carry out financial operations on the world market without restrictions and without intermediaries. It is very worrying the government because they can't control.They are powerless to stop it because I can't keep track of the movement of capital.Therefore, in every possible way they try to restrict financial platforms and strengthen control.But all to no avail.Bitcoin does not belong to anyone.It's just like e-mail or the Internet. It is not controlled by any Bank. And the person who created bitcoin disappeared somewhere. bitcoin has become an open source software. This program can be used by absolutely anyone.All you have to do is follow the rules of this currency.

[MakLampir]

no one controls bitcoin, because bitcoin does not have a centralized system.
which controls the bitcoin is our, every bitcoin holder is the bitcoin bank itself.

[Blue Bell]

Bitcoin is controlled by its demand and supply through its holders and interested investors,traders. But one more thing that the price fluctuations is due to big whales trading and also due to some bad or fake news.

Yeah it is all about the demand of bitcoin and the supply to the investors; people are investing more and more bitcoin to get a powerful business. It is good to see the fluctuation of bitcoin price it use to increase and decease at the time of low price people buy bitcoin and hold but at the time of high price they sell and make business, red market begun just because people get impatient and sell their coin which cause high dump in price, so for me these three factors are effective in bitcoin, price, demand and investors.

[Elerntta]

Therefore, the name of the true Creator of bitcoin is hidden for complete independence and isolation.

[CarnagexD]

There are people who own a very large percentage of the extracted bitcoins.
If they want to change the price, they will do it.

And there is no question of any decentralization!
Bitcoin has become a means of manipulation.

We could consider the supporter of bitcoin as one of the key to moved the price of bitcoin simply because bitcoin price and value is dependent on the support of people given by the number of transactions and investment and how people choose to trade. I think bitcoin is a much more than a currency for most of people so it is a bigger development when it comes to investment and trading for more people who uses bitcoin.

[joebrook]

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's why people say that Bitcoin is decentralized as opposed to being centralized which means that its in the control of everyone and no one whiles centralized means that it s in the total control of an individual, an entity or an institution.

[pdutta]

Bitcoin system is completely run by the people who use it, this is the reason it is called as decentralized digital currency. But practically  it’s developed and supervised by contributors, miners, big exchanges and traders.