Who controls the Bitcoin system?

[jkinit2125]

Nobody. Remember bitcoin is decentralized, which means nobody or no one controls it. Even the Central Bank or even unique banks of different countries. Thus if pertaining to control of price, bitcoin's price vary and follow the law of demand and supply which normally in all honesty, whales are on control of price.

[sahabond]

I as a participant in the bitcoin network is very interested in the fact that technology has accepted his destiny and worked in the field for which they were invented. but bitmain and created a bunch of mining rigs ASIC. now they can let go of the reins and drop the complexity of calculations. but they will not do it, but only with great zeal drag on 51% of the voting rights. who's trying to prevent this?

[Cryptagio]

No one controls it directly, however you can use game theory concepts to try to attack the network and benefit. Hacken has conducted a research recently https://hacken.io/wp-content/uploads/The-Rush-for-Hashpower.pdf

[deepakg2m]

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

Being an online system its working is purely technical and you are right that a community consisting of miners,traders,developers,etc. control it but its working is very difficult to understand for some people.

[Invest.Ort]

Bitcoin depends on our demand and supply, it can always exist and it can not be canceled any more, but the most important thing is manipulation by the government and whales. On this all is under construction

[HuntterrBounty]

Nothing controls the bitcoin network because it is not centered but the decentralization of computer networks so all transactions will be processed through blockchain technology. With its decentralized nature it also benefits the bitcoin where hackers can not break into bitcoins.

[rizki12]

No one has a network to control Bitcoin, just as no one has email operation technology. Bitcoin is controlled by all its users worldwide. Developers can indeed improve Bitcoin software, but they can not enforce changes in the Bitcoin protocol

[phpartisanmaster]

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.

Yes you are right about that, bitcoin transactions are made of blockchain and because of that algorithm, no one can really change the way how the program is being created since it was complicated as well and it is the reason why cryptocurrency is secured.

[amaha cris]

No one can control the bitcoin, it's a special place and the reason bitcoin has been around for 10 years, with bitcoins all the same and no one decides what the bitcoin will be.

[CARrency]

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.

Nobody owns Bitcoin but bitcoin can be controlled. I am not saying that it is easy to control but if you think about it, the price of bitcoin is based on the demand and supply. If all the users of bitcoin united, they can make the price move the way they want it.

[Dudeperfect]

Bitcoin represents the core ideology of democracy so in that sense every user controls Bitcoin through his actions. We have miners to confirm transactions on behalf of us and we as a user pay them their fees with every transaction so they are not the owners of the system but the service providers. As we all know that Bitcoin is based on a block chain technology which relies on decentralization principle, there is no central controlling governing authority in case of Bitcoin.

[Arz26]

Bitcoin for me is not  control by anyone it's consists of traders, miners, developers in the community which means people are involved in the BTC. All is need how to manage the standard based on the demand and supply.

[Goodday]

I think transparency on Bitcoin means trust is not required for the system to work. There is no government from anywhere involved and no one entity controls so we are the one who controls itBTC

[Bous]

Bitcoin is a decentralized cryptocurrency so nobody can control it. It's probably be the secret of its success, who knows?

[redsap]

bitcoin is not control by someone, but it natural itself and bitcoin is depend on the people, bitcoin has price amzing like this because there are so many using bitocin in this time, and people like that because it decentralized behaviour

[ZixCoin]

Bitcoin is controlled by all its users almost all over the world almost because its decentralized system means that no one has to stay compatible with each other those who use bitcoin who can control this all.

[Visbay]

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 my opinion, there is big different between mobile application and bitcoin. Mobile application can be control by their dev but bitcoin no one control even government institution.

Mobile application is totally different form bitcoin as we can use mobile application just to contact other people but we use bitcoin to make future, today nothing is better than bitcoin, bitcoin is independent currency it is out of control nothing can ever control bitcoin,, our government is reserved about bitcoin but in some places bitcoin is announced as legal currency, it is worldwide using currency today only because people are aware about bitcoin that there is no limit for bitcoin profit, so I like bitcoin because we are free it has given us freedom but only marker demand and supply makes it rise and fall.

[tikong]

Who control the bitcoin system, bitcoin is not control by someone, but it natural itself  and controlled by all its users almost all over the world. As we all know that Bitcoin is based on a block chain technology which relies on decentralization principle. And that all i know

[boy130]

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.

You might say that nobody can control the system, but you are wrong, just because it's decentralized doesn't mean that certain parties don't have a significant amount of control over it;

1. Mining pools, some of them are close to >51% of the network hash rate
2. Media outlets, their opinion and press can often crash the market
3. Governments and corporations. Even if they don't have direct control, their actions can drastically affect crypto value.

[Vart4varta]

Nobody owns the Bitcoin network, just as no one owns the technology behind the e-mail. Bitcoin is controlled by the bitco-users of the whole world. Although developers improve the software, they can not forcefully change the protocol, because users are free to choose which software and what version to use. In order to be compatible, all users must use software that obeys the same rules. Bitcoin can work correctly only with full agreement between all users. Therefore, all users and developers, if the incentive to protect this consensus.