Topic: Can Bitcoin become a true decentralized currency? (Read 459 times)
It is unlikely that it can be completely decentralized, especially now.
The whale manipulates its value and is so easily manipulated. Is this decentralization?
Due to rampant market manipulation, I could say that Bitcoin is not fully decentralized but at least its price moves freely unlike the other project that has been controlled by a group of people. But it never gives me the doubt that sooner or later Bitcoin will change its platform. It certainly remains decentralized and that even the manipulation continues had something couldn't change it.
It's natural that if something gains value or interest then the risk and critics surrounding it increases too. Same goes for bitcoins.
So far, crypto assets carry decentralization, which means there are no intermediaries in transaction activities in them. ... Here, the digital payment system takes place peer to peer or from the sender directly to the recipient. so you have to understand first what is meant by decentralized bitcoin, I think op should learn a lot more about blockchain technology by reading and asking questions in this forum so that you know the direction in question
The whale manipulates its value and is so easily manipulated. Is this decentralization?
Decentralization has nothing to do with the market price.Read more about BTC,instead of asking newbie questions that were asked a million times.
Decentralization is about who can control the blockchain and decide which transactions to be confirmed.
Decentralization is also about controlling the amount of newly mined Bitcoins.
Gold price is manipulated,is gold "decentralized"?
Every market can be manipulated.
The whale manipulates its value and is so easily manipulated. Is this decentralization?
I guess you mean whales manipulate the price.
Well, the price is based on demand and supply...so certain people would try to exploit/manipulate this for selfish reasons and to the detriment of the Bitcoin community/users.
If you allow Bitcoin to have a robust internal and fairly independent economy, and/or have better decentralized mechanism for checking price manipulation (which creates extreme price volatility), we wouldn't be worrying much about manipulation.
Besides, I wonder what currency/asset can't be manipluted if you allow people to attack/exploit it without being penalized.
Even Gold price seem suppressed and that sounds like manipulation to me, yet gold is fairly decentralized.
This is constant flow.. From Decentralization to less Decentralized or Centralization. Bitcoin started as Less Decentralized, mined 16 million coins with few early lucky adopters,only within 2 years.. Now constitutions and large funds acummulating again it goes to Centralization becuz of it is capped supply.
To become more Decentralized, it should be like GOLD 'mined thousand years' and distribute to every corner of WORLD.
So by this well put 'capped supply'' trap to lure profit oriented people and large money elits, Satoshi convinced WORLD the idea of CryptocurrenCy. Now what is NEXT?
To become more Decentralized, it should be like GOLD 'mined thousand years' and distribute to every corner of WORLD.
So by this well put 'capped supply'' trap to lure profit oriented people and large money elits, Satoshi convinced WORLD the idea of CryptocurrenCy. Now what is NEXT?
The whale manipulates its value and is so easily manipulated. Is this decentralization?
don't speculate on things you don't understand, Bitcoin is pure decentralization...
if Bitcoin has a center then you can say Bitcoin is not decentralized. if you give an example that the dots are whales, then Bitcoin cannot also be called centralization.
The whale manipulates its value and is so easily manipulated. Is this decentralization?
Bitcoin has grown in popularity and acceptance by promising consumers a completely decentralised and low-cost virtual currency system. In this essay, we demonstrate that Bitcoin's most important processes and choices are not decentralised.
Bitcoin is real decentralized.No whale can control bitcoin.Whales can only influence the price of bitcoin for short periods of time, and manipulating the market price has nothing to do with bitcoin's decentralization.
The whale manipulates its value and is so easily manipulated. Is this decentralization?
It's not centralized which means that Bitcoin transaction and network is not dependent on any centeral authority and is operated by all the nodes and miners across the network and even some of them leave it btc would still be functional.It cannot be shut down from any server and you can send instant payments to anyone globally without any third party intervention and that's what is called decentralised currency.Talking about the prices they are determined by the market forces of demand and supply and when whales dump thousands of coins they are holding it can cause temporary dump in market but they cannot control the network or forge the transactions with any super computer also so that's the main point.The other altcoins which are centralised are controlled by any company can make changes and limit the supply and make rules for you and moreover thier most of the supply is concentrated to small wallets and they can make permanent dumps in market like Dogecoin but it's not the case with Bitcoin.So that make bitcoin different from others which is why it's most popular currency.
The whale manipulates its value and is so easily manipulated. Is this decentralization?
Manipulation and decentralization can't be combined 
.Manipulation can happen at any market. Whether it is stock market or crypto market. Manipulations by whales can happen. Stock market is centralized and yet it can still get manipulated.
Decentralization's definition can't be connected with manipulation at any case
. Decentralization is something that doesn't have any central authority to govern something which in this case, no one is governing us so its safe to say that Bitcoin is decentralized in any way.Overall, whales can manipulate any market although there are no concrete evidence that they are but it doesn't mean though that if a certain market is manipulated it isn't decentralized.
btc is now spread across nations and with different people holding it , manipulation will now be harder .
its high price can also makes it harder for whales to manipulate btc and no this dont remove the decentralization feature of btc .
we can lessen the effects of manipulation if we can contribute buying and hodling more btc and we should ignore fuds and stop panic selling .
its high price can also makes it harder for whales to manipulate btc and no this dont remove the decentralization feature of btc .
we can lessen the effects of manipulation if we can contribute buying and hodling more btc and we should ignore fuds and stop panic selling .
The whale manipulates its value and is so easily manipulated. Is this decentralization?
1. Bitcoin is decentralized. This means that its network is decentralized. Get offline some miners and everything will run. Get offline some nodes and everything will run. No central point (of failure).
2. Bitcoin price is not related to decentralization. And even though it may be indeed manipulated, the manipulation is far from easy to be done.
Hm, are you sure Bitcoin's price is not related to decentralization? You may respond now that any currency being decentralized would then be as valuable as Bitcoin, but that argument doesn't hold true as Bitcoin is a forkable (don't know if the word exists, but you know what I mean) protocol, but not a forkable ecosystem. The fact that not a single entity can change the database at will gives Bitcoin value. The fact that only with the consent of the majority the database can be changed gives Bitcoin value. If it were to be decided that by August 1st there'd be one single entity in charge of keeping the database intact for the rest of the world would send Bitcoin's price on its way to zero. Or what do you think?
Maybe I should have phrased this better: "Bitcoin price manipulation is not a measure of its decentralization."
But you could also have read my post in the context I wrote it.
All in all, you just told me the sky is blue. Thank you.
The whale manipulates its value and is so easily manipulated. Is this decentralization?
1. Bitcoin is decentralized. This means that its network is decentralized. Get offline some miners and everything will run. Get offline some nodes and everything will run. No central point (of failure).
2. Bitcoin price is not related to decentralization. And even though it may be indeed manipulated, the manipulation is far from easy to be done.
Hm, are you sure Bitcoin's price is not related to decentralization? You may respond now that any currency being decentralized would then be as valuable as Bitcoin, but that argument doesn't hold true as Bitcoin is a forkable (don't know if the word exists, but you know what I mean) protocol, but not a forkable ecosystem. The fact that not a single entity can change the database at will gives Bitcoin value. The fact that only with the consent of the majority the database can be changed gives Bitcoin value. If it were to be decided that by August 1st there'd be one single entity in charge of keeping the database intact for the rest of the world would send Bitcoin's price on its way to zero. Or what do you think?
You need on your own create a clear distinction between Decentralization and Price Manipulation. Stability of price is not a direct definition of decentralization.
I beg to fault OP.
+1. OP maybe is still confused about being decentralized digital currency and price manipulation. Which they are far different.I beg to fault OP.
We can see a lot of price manipulation, even on decentralized assets, like in the stock market.
This thread and posts under the OP's thread could to enlighten the OP.
The whale manipulates its value and is so easily manipulated. Is this decentralization?
What do you think about Bitcoin now? It was decentralized since before and nothing had changed despite saying a manipulated price. Don't get doubt about it, Bitcoin remains uncontrollable but we are not sure for the next 100 years (if that still exists). I know that things can be changed depending on the development and market demand. And it won't be possible to happen if the community will agree and voted to have it change to a centralized platform.
But until this time, it was 100% decentralized.
Bitcoin is decentralized but it doesn't mean it can't be manipulated, because the price varied on the demand and supply. We have a large transaction tracker that we can always suspect as a Bitcoin price manipulation but yet we aren't sure if that was come from a manipulator or not. It's really hard to prove the manipulation process because getting data from different various exchanges may not be enough to determine the manipulation effects because some price movement causes by the organic traders how they are actively doing trading in the market.
However, even how many times we heard about manipulation and even the most influential people involved in this. Bitcoin remains the best form of investment asset and still spreading the adoption process because no one can stop even the government due to natural decentralization.
However, even how many times we heard about manipulation and even the most influential people involved in this. Bitcoin remains the best form of investment asset and still spreading the adoption process because no one can stop even the government due to natural decentralization.
Decentralized currency?
If it is about a currency, it will be something that relates to governance by the countries. And every country will have its centralized currency for each country.
However, Bitcoin is different, this coin is not owned by a government, nor by other parties.
We all are the holders or traders of Bitcoin, but we cannot regulate it.
The price will really depend on demand and supply on the market. Although there are many whales that are manipulating the market price, we can see, which whales? there are also so many whales, and we cannot say that one of them is regulating, because whatever their manipulation, the price itself will also relate to how the market at that time.
If it is about a currency, it will be something that relates to governance by the countries. And every country will have its centralized currency for each country.
However, Bitcoin is different, this coin is not owned by a government, nor by other parties.
We all are the holders or traders of Bitcoin, but we cannot regulate it.
The price will really depend on demand and supply on the market. Although there are many whales that are manipulating the market price, we can see, which whales? there are also so many whales, and we cannot say that one of them is regulating, because whatever their manipulation, the price itself will also relate to how the market at that time.
The whale manipulates its value and is so easily manipulated. Is this decentralization?
Do you have a proof that whales are manipulating the crypto market? This can very well be a popular belief and may be far from reality. Till date we haven't seen any legit proof where the whales have manipulated the market. Obviously Elon Musk did and now his company's bitcoin holding is running in negative.
I don't think we have any other assets available which are greatly decentralized like bitcoin.
for manipulation in terms of price or value but same as you said it cant be proven out but we can presume that its there even on traditional markets like stocks and forex where these
manipulative actions can really be obvious for sometimes and thats a centralized market, how much more on a decentralized market where funds could easily flow?
Bitcoin is decentralized and its demand and support is the proof.
You need on your own create a clear distinction between Decentralization and Price Manipulation. Stability of price is not a direct definition of decentralization.
I beg to fault OP.
I beg to fault OP.
Technically Bitcoin always will remain a decentralized cryptocurrency. The aim was to introduce Bitcoin as a Peer-to-Peer electronic cash system that is fully decentralized. No middleman would control the transaction. There is no relationship between Bitcoin price and Bitcoin technology, to be honest. Even any whales won all the Bitcoin although it's not possible, but still Bitcoin will exist as a decentralized cryptocurrency technically. But sometimes we notice manipulation in the price, it doesn't mean Bitcoin is centralized. Keep in mind whales even not controlling Bitcoin, they just encourage or discourage us to buy or sell and that's how they manipulate the price.
The whale manipulates its value and is so easily manipulated. Is this decentralization?
As long as we are living in a society with economic disparity and with such a little redistribution of wealth. Along with the corrupt governments who are too scared to let anyone come and steal their power. I do think we will have to deal with probelms related to true decentralization. People will use anything : Money
Power
Fame
Who knows what else ? Everyone's goal is to make a lot of bucks, they are not even happy if they are in the world's richest top 10! There will always be something that they could not achieve. Therefore they will use anything that they can make money out of and during the pandemic *bitcoins* seems like the target for such people. We are not only dealing with people like Elon Musk using something as simple as twitter, but we are dealing with governmental laws here!! We will never achieved complete decentralization for sure. We do need an ideal world for it which is too far from the reality.
Bitcoin will remain decentralized in existence. It is not about values that can be manipulated, but rather their unmanageable nature by one or more entities, impervious to arbitrary policies. Unfortunately, over time bitcoin users have led to something that has the potential to be centralized especially they start depositing into CEXs and custodial wallets. We need to worry when most of the bitcoin supply only caters to centralized platforms.
No one manipulated bitcoin and is completely decentralized. I agree only on the part that whales can greatly affect or influence bitcoin market with their huge holdings. Still bitcoin for me is a well balance sytem may it be you have huge holdings or small asset holdings.
The whale manipulates its value and is so easily manipulated. Is this decentralization?
Do you have a proof that whales are manipulating the crypto market? This can very well be a popular belief and may be far from reality. Till date we haven't seen any legit proof where the whales have manipulated the market. Obviously Elon Musk did and now his company's bitcoin holding is running in negative.
I don't think we have any other assets available which are greatly decentralized like bitcoin.
The whale manipulates its value and is so easily manipulated. Is this decentralization?
The whales aren't the only individuals that hinders bitcoin from becoming a true decentralized currency but also the existence of the government and the law in each and every country in the world. We are all aiming or hoping that someday sooner, bitcoin and other crypto will be accepted by the world hence we know that the government are the only ones capable of allowing such thing to happen. The nation's voice wouldn't make it possible no matter how much they protest of revolutionize about it so we will be forced to settle and obey the rules they will give about the regulation of crypto that will surely remove its decentralization at some point. 
Nothing to become here, Bitcoin is already decentralized and distributed all around the world, without CEO and without office space, people run Bitcoin nodes everywhere.
There will always be whales in any assets and price manipulations will always exist but that does not affect decentralization in Bitcoin, and there is no single person or group of people that can control Bitcoin, even if some would like to control it very much.
There will always be whales in any assets and price manipulations will always exist but that does not affect decentralization in Bitcoin, and there is no single person or group of people that can control Bitcoin, even if some would like to control it very much.
I think Bitcoin is already decentralized enough. There's a network of miners without any central point to it. And there's also a community of Bitcoin users, which also has no authority that controls the supply and thus the price of Bitcoin. Sure, there are big holders who have more power than small holders. However, manipulating the price even a little requires tons of resources, and the effect is always temporary anyway. Till this day, I see no proof that there are some whales which conspire with one another and create serious disruptions by their actions. Whenever there's hype around whale alerts, it often turns out that it was actually just an exchange moving its funds or something like this. I think that influential people with millions of followers have more impact on the price than rich holders, but even their influence is temporary.
What is the relation between manipulation and decentralization? I don't understand. Decentralized currencies can be manipulated. Decentralized just means that the currency is not controlled by any central entity. But that doesn't mean that whales and institutions can't manipulate its exchange rates, by playing in the market. Even centralized currencies can be manipulated. But this sort of manipulation is mostly done by the central banks and the other national agencies. For example, the Chinese Yuan is sometimes referred as the most manipulated national currency in the world.
The whale manipulates its value and is so easily manipulated. Is this decentralization?
which whale, do you know one of them?Bitcoin is the truly decentralized coin in the world, nothing can match it
Price changes that occur in Bitcoin are purely due to supply and demand in the market
when many people are selling or buying then the price of Bitcoin will change and this looks like a manipulation of what you mentioned "whale" which in fact never existed
It's obvious right from time that bitcoin is decentralized, that's the factor that made it not to be easily manipulate, just relating it or comparing it to other cryptocurrencies, especially bitcoin in particular, you will observe that bitcoin have higher security potential than any other currencies, now looking at fiat currency its very clear to the blinds and very audible to dealf that fiat can be easily manipulated, that's the reason while government can work down on fiat, and the major purpose fiat can be manipulate is because its centralized currency, from my observation via bitcoin while btc never been hijacked by the government is because it's a true decentralized currency, and no one controls or regulate its values in the market, it only determine it's values through market demand and supply.
Bitcoin cannot fully become decentralized, especially if it talks about price, because the price is very easy to manipulate, but in terms other than price, it can be said that bitcoin is already fully decentralized.
Decentralization is one thing, but there's also the free market with its supply and demand.
Whales can manipulate the market but they also take much greater risk than you. They need enormous amounts of fiat currency to be able to crash the market. 100 million USD is not much when you try to influence bitcoin.
Also, to sell they need to buy first. Do you have 100 million USD in bitcoin? If you had it would you risk it and hold it on exchanges to earn 10% a month trading it?
It's easy to say whales this or whales that, but how many of us know anyone who's even cloise to being a whale. We hear about people like Michael Saylor, Dan Morehead and others, but are they really manipulating the market? They are long term investors, so who are this whale players? Jamie Dimon?
I think people are using this term to explain market sentiment. Sometimes it's not whales but overleveraged traders getting destroyed.
Whales can manipulate the market but they also take much greater risk than you. They need enormous amounts of fiat currency to be able to crash the market. 100 million USD is not much when you try to influence bitcoin.
Also, to sell they need to buy first. Do you have 100 million USD in bitcoin? If you had it would you risk it and hold it on exchanges to earn 10% a month trading it?
It's easy to say whales this or whales that, but how many of us know anyone who's even cloise to being a whale. We hear about people like Michael Saylor, Dan Morehead and others, but are they really manipulating the market? They are long term investors, so who are this whale players? Jamie Dimon?
I think people are using this term to explain market sentiment. Sometimes it's not whales but overleveraged traders getting destroyed.
I don't think you can avoid some people controlling one or two markets tbh. The system itself is not controlled. You can easily create your own trade market to fight with those wales if you wish to do so. But as others have said, if decentralization == price, then you're looking at the wrong picture.
Bitcoin is an absolutely decentralized token. I once had the same question as you. If the price of Bitcoin can be easily controlled by whales, how can it be said that it is decentralized? In fact, the problem itself is wrong. Whales can affect the price of Bitcoin, but it is difficult to control the price of Bitcoin.
The price of Bitcoin is imposed on Bitcoin based on the legal currency standard, and the exchange rate is given to Bitcoin in order to facilitate transactions. However, Satoshi Nakamoto has never defined a price for Bitcoin, and it is not his inherent attribute that Bitcoin is equal to 30,000 US dollars. Putting aside the U.S. dollar to look at Bitcoin again, it is not controlled by anyone. His network is composed of miners and nodes. Everyone can become a miner and create a node. As a token, it is completely decentralized.
The price of Bitcoin is imposed on Bitcoin based on the legal currency standard, and the exchange rate is given to Bitcoin in order to facilitate transactions. However, Satoshi Nakamoto has never defined a price for Bitcoin, and it is not his inherent attribute that Bitcoin is equal to 30,000 US dollars. Putting aside the U.S. dollar to look at Bitcoin again, it is not controlled by anyone. His network is composed of miners and nodes. Everyone can become a miner and create a node. As a token, it is completely decentralized.
If your definition of "decentralized" on cryptocurrnecy is the price can't be manipulated, then only stable coin is "decentralized" 
Yes it is the effect of decentralization, with no central figure that oversees or controls the market which means that it's a free for all. I don't think that it's a bad thing that someone controls the market because no matter what, they wouldn't be able to totally control it because no one can become a central authority in a decentralized platform.
The whale manipulates its value and is so easily manipulated. Is this decentralization?
You have to take in consideration the fact that bitcoin and cryptocurrency are a multi billion dollar industry, bitcoin is on its way of becoming the first in terms of investments, and for this type of market to be manipulated it is not an easy thing to do, poeple have been always been talking about the fact that bitcoin is not truely decnetrelized due to the fcat that china holds a large portion of the mining power there, thereore the chinese could easily manipulate the prcie, but with china out of the way and the governement slowly taking sever actions against bitcoin mining, that idea is going to be out of the way and bitcoin could be truly decentrelized. The whale manipulates its value and is so easily manipulated. Is this decentralization?
Not because there are cases of manipulation meaning it is not decentralized , it is the stupid weeks that makes manipulators succeed so Blame them and not the decentralization of Bitcoin. The whale manipulates its value and is so easily manipulated. Is this decentralization?
1. Bitcoin is decentralized. This means that its network is decentralized. Get offline some miners and everything will run. Get offline some nodes and everything will run. No central point (of failure).
2. Bitcoin price is not related to decentralization. And even though it may be indeed manipulated, the manipulation is far from easy to be done.
No coin can be decentralized like Bitcoin, a coin that its price and value are not controlled by the government or any other central body, the price of bitcoin is only affected by people that uses it as most bought will result to increase in price while most sold will result to decrease in price. It is not also like many altcoins that can be easily manipulated, be it anything you called it, people adopt Bitcoin, that has been what keeps its price increasing ever since it was created up till now and also the future is promising. Bitcoin is not like others cryptocurrencies, Altcoins that have known creators, Bitcoin was created by Satoshi Nakamoto that is completely anonymous, not having any control over the coin like burning, anything that has to be implemented on bitcoin has to be proposed and will be included in BIP. So, I see Bitcoin as a decentralized currency, and indeed it is a decentralized currency.
The whale manipulates its value and is so easily manipulated. Is this decentralization?
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