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Topic: Bitcoin is decentralized.Really?! - page 2. (Read 1141 times)
Bitcoin is decentralized , not sure miner always hold more 51 percent , it is always buy and sell method , and people whoever using bitcoin they want this technology to be retained in future also . it looks there is no issue with bitcoin and not to worry .
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As far as i know the biggest play has about 5% so this is not worrisome and i am sure we will be fine in the future.
More concerning would be a miner with 51% mining power, which already happened before with mining pools if i remember correctly.
But the community corrects this situations usually very quickly, since it is not good for anybody. Not even for the 51% miner since he is at risk loosing all because of bitcoin using its value.
More concerning would be a miner with 51% mining power, which already happened before with mining pools if i remember correctly.
But the community corrects this situations usually very quickly, since it is not good for anybody. Not even for the 51% miner since he is at risk loosing all because of bitcoin using its value.
I know that decentralized currency means that no central bank can control the money supply.
But what if 2-3 major players own 40-50% of all the bitcoins.
Do you still think that the currrency is "decentralized" if 2 or 5 or even 10 big players can control the btc price
just by selling and buying large amounts of bitcoins.
What do you think about that?
It is decentralized in a sense that noone can increase or decrease the total supply or creation of coins.But what if 2-3 major players own 40-50% of all the bitcoins.
Do you still think that the currrency is "decentralized" if 2 or 5 or even 10 big players can control the btc price
just by selling and buying large amounts of bitcoins.
What do you think about that?
Price may be manipulated by big players who have large holdings but that is another thing and it doesn't makes bitcoin less decentralized
Yes, it's decentralized. The system is. It doesn't matter about how much you own, what could make the system centralised iis if one miner has control of 51% or more of the mining Power, or if a group/entity had this power.
In case they are also miners this is very bad. If they just own 40 - 50% of bitcoins, I do not think that they will be interesting in degradation of this technology or lower down the price. If price will be higher we all will be in good profit. 
I know that decentralized currency means that no central bank can control the money supply.
But what if 2-3 major players own 40-50% of all the bitcoins.
Do you still think that the currrency is "decentralized" if 2 or 5 or even 10 big players can control the btc price
just by selling and buying large amounts of bitcoins.
What do you think about that?
But what if 2-3 major players own 40-50% of all the bitcoins.
Do you still think that the currrency is "decentralized" if 2 or 5 or even 10 big players can control the btc price
just by selling and buying large amounts of bitcoins.
What do you think about that?
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