Who controls the Bitcoin system?

[main320]

Bitcoin isn't controlled by a solitary individual, that is the reason it is decentralized. Presently, when we discuss decentralization of bitcoin a considerable measure of us are imagining that bitcoin isn't beginning from a solitary nation, which is valid notwithstanding, incompletely erroneous. Bitcoin does not originate from any single nation and in addition, isn't controlled by a solitary substance. So we could state that we, the financial specialists abd fans, are the one thst controls the tides of bitcoin's destiny.

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[Rustandy]

Nothing controls the Bitcoin network, Bitcoin is controlled by all its users around the world. Developers can indeed improve Bitcoin software, but they can not enforce changes in the Bitcoin protocol because all users are free to choose the software and version they want to use. In order to remain compatible with each other, all users need to use software that follows the same rules. Bitcoin works only when there is full consensus among all users. Thus, all users and developers have a strong incentive to protect this consensus.

[roshanface123]

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 can control bitcoin system because it fully depends on the demand of bitcoin in the crypto market. Each and every purchase of bitcoin by the bitcoiner make an impact on increase in demand of bitcoin and each and every sails of bitcoin by the bitcoiner make a fall in demand.And the fake news and negative news like banning of bitcoin can make an impact on bitcoin demand.

[Rockyz]

As far as i know no one controls the bitcoin system. Thats why banks and government try to ban it because they cannot control it.

[Margary]

nobody controls bitcoin.
I'm afraid to will be imagine what would have happened, when Satoshi Nakamuto appeared. it's something totally unpredictable and incredible. but I think the price of bitcoin will grow

[damrianto]

it can be said that about 80% of total Bitcoin transactions are currently traded using Chinese Yuan. From the end of 2013, China, using tactical strategy, began to maintain nearly 50% of all Bitcoin transactions worldwide. Basically, Bitcoin is primarily designed to be the most important financial part of the future era and today, China can certainly be considered a bitcoin system controller for the future.

[ranochigo]

The end-user. Bitcoin works in a way such that the responsibility of making decisions and rules are shifted to the user only. By consensus, no one can force a rule change without a majority support from the community. Everyone is free to run forks of Bitcoin but they can't have anyone to run their client and follow their set of rules.

Arguably, mining has really destroyed the decentralised aspect of Bitcoin. With the monopolistic mining industry, it's pretty hard to say that the power lies solely with the user.

[Hero2spin]

As far as I know to my best knowledge, Nothing controls the Bitcoin network, Bitcoin is controlled by its faithful users around the world because it fully depends on the demand of bitcoin in the crypto market. Bitcoin isn't controlled by an individual or a particular nation , that is the reason why it is decentralized.
The transactions are made by blockchain algorithm, in order for bitcoin to increase in value, it depends on the investors if they prefer bitcoins or they will rather go for another cryptocurrency.

[Davidbee]

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 don't think it's possible for someone to control the bitcoin system. It is controlled by all of us. Bitcoin is decentralized and has a lot of users. They are all over the world, and they control the currency together.

[Cootie]

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 somewhat agree with you. My theory is somebody made this app, program, system or whatever it is called, just like in an online game, with its own currency, a player can earn an amount of it through playing. The maker of the bitcoin system uses the same principle. The difference is that he or they (if they are a group) set the supply and connects it to the internet so that whenever a miner or anybody else that uses bitcoin, interact and make transactions, the supply will change depending on the type of transaction made. But this is just a speculation, I don't really know what is really happening inside the system, all I know is that bitcoin is existing through the internet. 

[Luckyji]

Well, to me in particular if you ask me i will say bitcoin is control by no body accept the person managing the the wallet address that the bitcoin is send to for the fact you have the private key to that particular wallet were the the bitcoin is going without releasing the key to anybody for that period you been the holder of the key is in control of the system.

[BitcoinLoan]

Well, to me in particular if you ask me i will say bitcoin is control by no body accept the person managing the the wallet address that the bitcoin is send to for the fact you have the private key to that particular wallet were the the bitcoin is going without releasing the key to anybody for that period you been the holder of the key is in control of the system.

As a decentralized system by design, it can be difficult to see where the real power lies in Bitcoin. There are a number of different players in the ecosystem (e.g. miners, hodlers, exchanges, developers).

[Meandros555]

The ecosystem of users/holders should be controlling bitcoin or any other coin. The purpose of crypto coins would be defeated if anonymity and decentralization fails. Anonymity..inorder to preserve our natural sense of humanity and freedom (bigbrother issue) and decentralisation..inorder to prevent unnatural or biased control of coin ecosystem.
Tis interesting to see the continuous battle for freedom as seen with battle between monero and asic for example.

[Windybi]

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 don't think it's possible for someone to control the bitcoin system. It is controlled by all of us. Bitcoin is decentralized and has a lot of users. They are all over the world, and they control the currency together.

I think no one can control the bitcoin system. But there will be people who can adjust the wave of bitcoin. If a person is in a lot of bitcoin, they want the bitcoin price to go down, they just need to sell all the bitcoin they have, will the bitcoin price go down?

[dogandogru]

There is no authority or an individual that controls Bitcoin. It could be said that Bitcoin is controlled by community. Community includes all the users, developers, miners, etc. No one can individually enforce a change in Bitcoin. But a group of people who hold a great amount of Bitcoins together can do so by agreeing with each other. In addition to this, government regulation, innovations in technology and its acceptance rate can also influence the Bitcoin system.

[Loveaaronbaby]

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 don't think anyone can control the bitcoin network. It is controlled by all the bitcoins. bitcoin is scattered, no one can control the price of the bitcoin , it is all the bitcoin holders search control, some developers can only do some of the extra service for bitcoin

[daxiake]

The beauty of BTC is that it is decentralized and distributed, which means it is not controlled by a single entity like fist currency is controlled by central governments. All BTC community members are rightful owners of BTC. Having so many owners make BTC free from any sort of manipulations.
So we can say BTC is controlled by no one.

[otandelapaz]

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.

It is very different than a mobile app or anything you mentioned above. Here's a link for beginners on how to understand the technology
Actually, there's ton of information out there for you ponder.

https://blockgeeks.com/guides/what-is-blockchain-technology/

 

[cryptolet]

Bitcoin has no governing body. It is completely run by the people who use it. Bitcoin miners have a certain level of control over the way the system is runned.

[Danish Mohiuddin]

It would be unjust to say that the real value to Bitcoins come from their community especially from it's users who literally use Bitcoin for medium of exchange than the store of value.All others all milking that glory of Bitcoins for their own convenience.