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    Thread: Controllers of BitCoin

    1. #21
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      The way I view the bitcoin market is like the stock market which is mostly influenced by sentiment from the users and the market watchers alike because that way you will be able to make money from the trading of the bitcoin when you are always aware of the news going around in the market.

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    3. #22
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      Nobody can singlehandedly control bitcoin, that is not how it was designed to operate, if the government have a way of regulation, this instrument would have probably gone extinct by now, China tries to do some things which influence the price of BTC but it is always temporary.

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      If a time comes when bitcoin can be controlled then I do believe it has lost its relevance, the lack of control mechanisms or decentralisation is what made many people to embrace bitcoin, if you remove this, I believe the coin will be worthless and the price will drop back to $1 or even less.
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      Well the bitcoin CAP is about 300 Billion USD, then how anybody in the world can get a big amount of it to be able to control the price knowing that the richest man on the world right now Jeff the CEO of Amazon worth is just 100 billion USD, the bitcoin cap is so high that anyone can control it.

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      I don't think that anybody can control Bitcoin as much as some traders think. some big traders can effect little bit on it's movement but it is not possible to totally control it.
      there is much more Volatility in this digital currency which we never see in any currency pair or in any metal even in Gold.

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      Bitcoin, for now is a decentralized currency that exchanged on a 'decentralized' network, meaning to a large extent, no one controls it. However government bodies and exchanges are scrambling each day to put some regulation on bitcoin so as to be able to control it. Bitcoin being decentralized has some advantages and also major disadvantages especially because it can be used for illegal activities and that is why governments are trying to regulate it, also in order to be able to effectively tax bitcoin transactions.

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