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    Author Topic: Who controls the Bitcoin system?  (Read 1506 times)

    • Corcoran
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    March 14, 2018, 02:01:56 PM
     #41
    my opinion is
    There are people who have a very large percentage of extracted bitcoins.
    If you want to change the price, they will do it.
    And there is no question about any decentralization!
    Bitcoin has become a manipulation tool.
    Therefore I strongly advise you to listen to my word

  • km4700ruda
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    March 14, 2018, 02:05:39 PM
     #42
    Bitcoin is managed by the owner of the wallet. And the cost of bitcoin is controlled by people with very large money.

  • Alex789
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    March 14, 2018, 02:11:04 PM
     #43
    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

  • Saiful Islam777
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    March 14, 2018, 02:13:55 PM
     #44
    Bitcoin itself is its director. It does not need anyone to control. Use it to be its controller.

  • Donceng
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    March 14, 2018, 02:25:46 PM
     #45
    developers have designed software (cardiac crypto) that can be used for everyone in the world. Automatically in order to be used by users around the world.

  • Lexurdania
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    March 15, 2018, 12:38:56 AM
     #46
    Quote from: iram1011 on March 14, 2018, 12:44:57 PM
    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.

    Even Goldman Sachs one of biggest invesment institution now has bought one of the exchangers, Poloniex. With the influx of big institutions with big capital, maybe in the future market will be controlled by the big financiers
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  • btccointalk
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    March 15, 2018, 03:31:46 AM
     #47
    Bitcoin is controlled by the community consist of developers,miners,bitcoin traders and bitcoin holders.

  • danielwwt
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    March 15, 2018, 04:09:12 AM
     #48
    Good to learn from what other people think.

    - miners are def key.
    - Even it is decentralized, big money control the price.

  • supermine
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    March 15, 2018, 04:13:41 AM
     #49
    Quote from: Fairy_90 on March 13, 2018, 04:23:51 AM
    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 an decentralized currency which means no one is controlling the bitcoin,that is the main reason for the invention of bitcoin to offer the service for the people who can be able to send and receive currency any where without banks help.Bitcoin was designed by working with the blockchain technology but it is not a mobile application.

  • Hannana01
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    March 15, 2018, 04:20:07 AM
     #50
    I am not sure but I think, technically it’s controlled by the community. What is the community? Consists of developers,miners, traders, those who hold currency.

    1. Developers: You can find the Bitcoin source code here - bitcoin/bitcoin - it says there are 376 contributors, which you can see here - contributors - and you can make your own contributions adjustments (they may or may not get approved)
    2. Bitcoin miners: These people have bought the hardware pay for the electricity to make the transactions and the network “function”.
    3. Bitcoin traders: Large stake holders who move the markets in certain ways by altering liquidity.
    4. Bitcoin holders: Those who are not necessarily in the “trading” realm, but have been buying and holding the currency.

  • money_amount
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    March 15, 2018, 04:45:33 AM
     #51
    Quote from: Fairy_90 on March 13, 2018, 04:23:51 AM
    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.
    right . bitcoin as an algorithm built on the foundation of blockchain. So no one can control this system. But this market has people who can control it going up or down. Because those who are keeping large amounts of bitcoin they can control the market up and down at their will.

  • doodle07
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    March 15, 2018, 05:30:32 AM
     #52
    It is decentralized so NO ONE is controlling it.
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    March 15, 2018, 06:44:46 AM
     #53
    bitcoin is decentralized, this is the difference between bitcoin and other fiat currency.
    there are bitcoin developers but they not control bitcoin, they develop bitcoin features.
    no one can control bitcoin i think.
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  • Ravenangel
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    March 15, 2018, 06:53:34 AM
     #54

     There is really no one controlling the Bitcoin system, its independent and free of any centralized influence. the development teams however keep on updating the system to improve its efficiency but doesn't necessarily manipulate it
    Bitcoin to the moon

  • jpurusa
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    March 15, 2018, 07:00:44 AM
     #55
    Bitcoin is operated by decentralized system.There is formal party, personal or institution even government can control that system.All people involved in this system can monitor and contribute to the system operation so it can run well and useful to all people involved.

  • orangy
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    March 15, 2018, 07:05:32 AM
     #56
    The Bitcoin system has no one to control, but like the investment products, it can be bought in large quantities and affect the price fluctuations, but I do not think this is the performance of being manipulated.

  • abaidudez
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    March 15, 2018, 07:06:08 AM
     #57
    Quote from: Fairy_90 on March 13, 2018, 04:23:51 AM
    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 am sure of that. Noone can control Bitcoin. Bitcoin is scattered to a million of nodes or computers around the world. To control it you need to go and logon to all that computers, which obviously impossible. Application is different from Bitcoin. Bitcoin is a service that gain it's value in the world because somebody uses that services and believe on how it benefit the user. Smiley
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  • lovepale
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    March 15, 2018, 07:11:40 AM
     #58
    Bitcoin price is controllable by the big whales. While bit coin is uncontrollable by the whales. Bitcoin system can corntrol actually by those investors who own much numbers of bitcoin. For me this system is like controllable but uncontrollable in reality. Like the limit numbers of supply, limitations of bitcoin in the physical world of system. Bitcoin system can own by one person, can manipulate by one person. Although bitcoin is unpredictable in terms of price that system is clear.

  • shaheer001
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    March 15, 2018, 07:16:24 AM
     #59
    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.

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  • Chaki
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    March 15, 2018, 07:16:51 AM
     #60
    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.
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