Can Bitcoin leave to be decentralized

slaman29

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Quote from: Smack That Ace on July 18, 2023, 07:27:45 AM

Quote from: slaman29 on July 18, 2023, 06:54:02 AM

I find it funny sometimes some people using Bitcoin say all this but then they are happy to let Google and their phones and Facebook track them.

What you said is absolutely true, when people go to the forum, they always talk about the decentralization of bitcoin and constantly criticize fiat and other centralized government systems. But they are using fiat, bank accounts or social media every day...Honestly, people interested in bitcoin are only interested in bitcoin's profitability and not any of its other features. I bet if bitcoin were stable and not profitable, there wouldn't be too many people needing it, myself included. What I care most about is profit.

So much fake news and fake stories and nonsense online, I kinda get that. But here in this forum, I'm more used to seeing it only in altcoin posts which is the major reason why I completely stopped reading there, and sad to see it come more and more on this part of bitcointalk.

Sometimes I even believe people who say decentralized a lot not only don't really care, but don't even understand crap.

So annoying!

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Quote from: jeraldskie11 on July 18, 2023, 05:36:15 PM

If Bitcoin was not decentralized, the government could easily prevent it from being used for the first time. If you recall, Wikileaks was previously financially blocked by the government from using popular payment and donation methods like as Visa, MasterCard, and banks. As a result, people adopt Bitcoin as an alternative to the present system and continue to operate despite the problem. And, because it is decentralized, Bitcoin cannot be stopped by anyone. Even if they turn off all internet connections around the world, Bitcoin will continue to operate.

If Bitcoin network had not been decentralized, it would have died many years ago. Being decentralized helps Bitcoin network to be stronger with time and it gains more acceptance with time.

A longer it exists, a bigger recognition from the communities that it is a very strong and decentralized network. It has no longer been called as a fraud by governments and example in the USA. Bitcoin is considered as a commodity. It is a big win for Bitcoin because it is not a fraud, it won't be killed by governments as they no longer have big reasons to stop Bitcoin network.

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Quote from: Riginac111 on July 16, 2023, 05:29:03 AM

Can Bitcoin leave to be decentralized

No, or maybe in the future. who knows? I don't think Bitcoin can become centralised unless its founder (Satoshi) is identified. The government will really find great pleasure in doing so because they are already fighting to gain control over Bitcoin, but it's been a very difficult thing for them to archive. If they find Satoshi, then they will really have their plans of making Bitcoin centralised fulfilled. But until then, Bitcoin can never be centralised, and I don't even believe Satoshi's identity can be revealed any day.

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If Bitcoin was not decentralized, the government could easily prevent it from being used for the first time. If you recall, Wikileaks was previously financially blocked by the government from using popular payment and donation methods like as Visa, MasterCard, and banks. As a result, people adopt Bitcoin as an alternative to the present system and continue to operate despite the problem. And, because it is decentralized, Bitcoin cannot be stopped by anyone. Even if they turn off all internet connections around the world, Bitcoin will continue to operate.

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Quote from: Z390 on July 18, 2023, 05:31:09 AM

No one owns Bitcoin and no one can control it, this is the most interesting part of this great innovation that Satoshi have created, it's why I believe so much in Bitcoin, it's also why it's called the people's money, since no one can control it, this makes it Decentralized, isn't this why the government don't like it? I bet they tried in the back to try and hunt down the creator, they just don't know how.

For the first time in the world, there is actually something that the government can't control, see how crazy that is? If I detect a gold mine in a certain area right now, the government will claim they owned the land and even if that land belongs to my forefathers or even if it's in my name, the government will still take over.

But not Bitcoin, and that's why majority of all the money I made are in Bitcoin and all what's coming are still going into Bitcoin, I have no regret doing this, as this is the way things are supposed to be.

Bitcoin's decentralization is undeniably revolutionary. Satoshi Nakamoto's creation has indeed disrupted the conventional financial system and power structure. I feel your enthusiasm, the euphoria even, as Bitcoin remains outside of direct government control

However, it's important to understand that nothing is entirely uncontrollable. Though no central entity owns Bitcoin, there are entities, such as miners and large holders, who can significantly influence its operation and price. Also, while governments may not control Bitcoin directly, they can control its use within their borders

I empathize with your desire to invest heavily in Bitcoin. Yet, remember the importance of portfolio diversification. Placing all your eggs in one basket exposes you to substantial risk. So, while continuing to invest in Bitcoin, consider diversifying your investments for balance. That's just solid finance

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Quote from: slaman29 on July 18, 2023, 06:54:02 AM

Quote from: bitgolden on July 17, 2023, 10:05:45 PM

Quote from: slaman29 on July 17, 2023, 04:02:08 AM

That is why people adopt it. I know Bitcoin is like this because it is the most decentralized coin, but you could argue other coins are also similarly decentralized but without the same advantages I mentioned.

If people are not caring about decentralization then they are not aware of how great that is. The fact that decentralization allowed us to be profiting without any government issues, is the reason why I am invested in bitcoin.

Governments only care about keeping the power, and getting richer meanwhile, that's all they care about and that's why it's going to be a very much difficult job to handle. I am guessing that it's good that bitcoin is decentralized because unlike fiat, nobody makes it any worse and that is an important thing. Fiat world is not like that, it gets worse and worse all the time and we can't really make any big changes on it like that, we need to be quite careful about what we do.

It doesn't matter how great a tech is or how great the cryptography algorithms work for Bitcoin.

When we used email, or browse pages, we don't care how great HTML or CSS is compared to Java or something else.

We even don't care if the internet is becoming more centralized than 20 years ago.

If people really cared about government intrusion, everyone is using TOR and VPN and dynamic device. But we don't really care unless we want to use something private right?

I find it funny sometimes some people using Bitcoin say all this but then they are happy to let Google and their phones and Facebook track them.

What you said is absolutely true, when people go to the forum, they always talk about the decentralization of bitcoin and constantly criticize fiat and other centralized government systems. But they are using fiat, bank accounts or social media every day...Honestly, people interested in bitcoin are only interested in bitcoin's profitability and not any of its other features. I bet if bitcoin were stable and not profitable, there wouldn't be too many people needing it, myself included. What I care most about is profit.

slaman29

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Quote from: bitgolden on July 17, 2023, 10:05:45 PM

Quote from: slaman29 on July 17, 2023, 04:02:08 AM

That is why people adopt it. I know Bitcoin is like this because it is the most decentralized coin, but you could argue other coins are also similarly decentralized but without the same advantages I mentioned.

If people are not caring about decentralization then they are not aware of how great that is. The fact that decentralization allowed us to be profiting without any government issues, is the reason why I am invested in bitcoin.

Governments only care about keeping the power, and getting richer meanwhile, that's all they care about and that's why it's going to be a very much difficult job to handle. I am guessing that it's good that bitcoin is decentralized because unlike fiat, nobody makes it any worse and that is an important thing. Fiat world is not like that, it gets worse and worse all the time and we can't really make any big changes on it like that, we need to be quite careful about what we do.

It doesn't matter how great a tech is or how great the cryptography algorithms work for Bitcoin.

When we used email, or browse pages, we don't care how great HTML or CSS is compared to Java or something else.

We even don't care if the internet is becoming more centralized than 20 years ago.

If people really cared about government intrusion, everyone is using TOR and VPN and dynamic device. But we don't really care unless we want to use something private right?

I find it funny sometimes some people using Bitcoin say all this but then they are happy to let Google and their phones and Facebook track them.

Lukmanfirdaus1

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hallo world ^_^

for me the key to the success of bitcoin lies in its decentralized nature. we can imagine if bitcoin became centralized overnight the system would collapse the day after it became centralized lol. decentralized means that trade is carried out between peer-to-peer which means that no single authority can interfere, including the government.

i think making bitcoin centralized is a bad idea, why ? because the government is going to step in to regulate bitcoin. imagine if the government interfered and the political situation was still in chaos. yes, of course we know, bitcoin will collapse in price, not to mention if bitcoin has to be connected to a central bank.

so i hope while i'm still alive, please don't let bitcoin leave its decentralized Grin

.

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No one owns Bitcoin and no one can control it, this is the most interesting part of this great innovation that Satoshi have created, it's why I believe so much in Bitcoin, it's also why it's called the people's money, since no one can control it, this makes it Decentralized, isn't this why the government don't like it? I bet they tried in the back to try and hunt down the creator, they just don't know how.

For the first time in the world, there is actually something that the government can't control, see how crazy that is? If I detect a gold mine in a certain area right now, the government will claim they owned the land and even if that land belongs to my forefathers or even if it's in my name, the government will still take over.

But not Bitcoin, and that's why majority of all the money I made are in Bitcoin and all what's coming are still going into Bitcoin, I have no regret doing this, as this is the way things are supposed to be.

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Quote from: Riginac111 on July 16, 2023, 05:29:03 AM

From my theory of understanding bitcoin as a cryptocurrency I have view bitcoin in different ways and i understand that Bitcoin what kept Bitcoin valuable is because it's a decentralized currency, for instant assuming bitcoin was centralized the domain of the technology would have be affected or tempered. But I'm seeing that the Force of Bitcoin today to stand is because is a decentralized currency.

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Force of Bitcoin? I don't know if I'm ignorant enough to not know this phrase, but it's my first time to see this phrase so pardon me if I'm a bit laughing by the time I'm posting this. Cheesy

Anyway, Bitcoin will always decentralized, and that will not change. The creator has already given it to us users, and it's our turn to at least retain it at the top. I don't see Bitcoin going centralized because after all, it doesn't need one person or one authority or one group of people in order for something to be changed. If there will be changes in the Bitcoin's code, or if there will be added features, many people will need to agree with it, and that includes Miners, Developers, and many more.

There's already a huge community behind Bitcoin already, and many more will be in the future thus, it will remain decentralized. With regards to learning, even the most famous businessmen right now are still on a learning process because learning is unstoppable. Whether you're a business owner, or an investor or anything, you still need to learn because you don't know anything.

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Bitcoin is a digital currency that has gained huge popularity in recent years because it is a decentralized digital currency. Bitcoin would therefore lose popularity if it were centralized. It is decentralized and not controlled by a central authority. Bitcoin does not exist in physical form rather, it is held and transferred electronically through a secure, distributed ledger system known as the blockchain. This currency is used only in the virtual or net world. Although it will take a lot of time if it is centralized, the governments will not be able to control it easily.

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Quote from: GreatArkansas on July 17, 2023, 10:31:07 PM

Bitcoin will always be decentralized. Bitcoin was created to be decentralized, even when Satoshi Nakamoto s started, it was already in nature, and also the Bitcoin that is open-source. Anyone can review the code and contribute to it, it's more likely someone will take full control of Bitcoin.

When the adoption becomes bigger, more nations, more locals accept Bitcoin, run mining rigs, full nodes, the Bitcoin network will become more decentralized in future. It is more easily to cause a centralized network in early years than now.

Quote

Consider also the community of Bitcoin which are committed to preserving Bitcoin's decentralization.

The commitment of Bitcoin communities to maintain its decentralization is important as well. They know that decentralization contributes a lot to value of Bitcoin so they will contribute their parts to maintain it.

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Quote from: Silberman on July 17, 2023, 03:38:03 PM

Quote from: Riginac111 on July 16, 2023, 05:29:03 AM

From my theory of understanding bitcoin as a cryptocurrency I have view bitcoin in different ways and i understand that Bitcoin what kept Bitcoin valuable is because it's a decentralized currency, for instant assuming bitcoin was centralized the domain of the technology would have be affected or tempered. But I'm seeing that the Force of Bitcoin today to stand is because is a decentralized currency.

Decentralization is what has allowed bitcoin to survive, if you take the time to read a little bit about it there were several initiatives which created their own currency and governments around the world destroyed those projects using several excuses, but the main reason was they were not going to allow any competing currency to exist, Satoshi knew this and as such he created a novel concept, a decentralized currency which could not be killed by seizing a few servers and sending some people to jail, if it was not because of this innovation bitcoin would have died long ago.

Bitcoin will always be decentralized. Bitcoin was created to be decentralized, even when Satoshi Nakamoto s started, it was already in nature, and also the Bitcoin that is open-source. Anyone can review the code and contribute to it, it's more likely someone will take full control of Bitcoin.
Consider also the community of Bitcoin which are committed to preserving Bitcoin's decentralization.

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Quote from: slaman29 on July 17, 2023, 04:02:08 AM

Bitcoin is decentralized for sure but I don't think that's why people adopt it and I guess here we're talking about payment method right?

Investment is a different thing and but people also don't invest in it because of decentralization (they don't care).

Bitcoin is the most widely accepted. It will never go down. It cannot be doublespent without problems. It cannnot be taken down by governments. And it's the easiest to use.

That is why people adopt it. I know Bitcoin is like this because it is the most decentralized coin, but you could argue other coins are also similarly decentralized but without the same advantages I mentioned.

If people are not caring about decentralization then they are not aware of how great that is. The fact that decentralization allowed us to be profiting without any government issues, is the reason why I am invested in bitcoin.

Governments only care about keeping the power, and getting richer meanwhile, that's all they care about and that's why it's going to be a very much difficult job to handle. I am guessing that it's good that bitcoin is decentralized because unlike fiat, nobody makes it any worse and that is an important thing. Fiat world is not like that, it gets worse and worse all the time and we can't really make any big changes on it like that, we need to be quite careful about what we do.

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Another important aspect of Bitcoin is its trust-less design which in my opinion is equally important as its decentralized nature. Does decentralization imply no need for trust? I don't think so. The brilliance of Bitcoin is the combination of both.

Bitcoin empowers people to transfer value (once it gained value) and no entity can do something about it (OK, we mostly need the Internet for it and I exclude edge cases which demonstrated transfering Bitcoin transactions over some other physical network layers).
It gives them some sort of freedom to transfer value without need to trust someone.

It's an empowerment like the Gutenberg press was which liberated the transfer of knowledge, texts, thoughts and more as prints for everyone (before handwritten texts and books were in the domain of the rich or church, not affordable for the plebs).

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Quote from: Riginac111 on July 16, 2023, 05:29:03 AM

From my theory of understanding bitcoin as a cryptocurrency I have view bitcoin in different ways and i understand that Bitcoin what kept Bitcoin valuable is because it's a decentralized currency, for instant assuming bitcoin was centralized the domain of the technology would have be affected or tempered. But I'm seeing that the Force of Bitcoin today to stand is because is a decentralized currency.

Decentralization is what has allowed bitcoin to survive, if you take the time to read a little bit about it there were several initiatives which created their own currency and governments around the world destroyed those projects using several excuses, but the main reason was they were not going to allow any competing currency to exist, Satoshi knew this and as such he created a novel concept, a decentralized currency which could not be killed by seizing a few servers and sending some people to jail, if it was not because of this innovation bitcoin would have died long ago.

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Quote from: Flexystar on July 17, 2023, 01:35:57 PM

We already have fiat if someone wants to use the centralised currency. There are many other assets that are centralised too and valuable too that we use on daily basis. Whether it’s precious metal or commodity or bonds we have it. I don’t think Bitcoin or basically crypto should be dragged into this.

Bitcoin is a decentralized currency from the beginning it was created, i believe that cryptocurrency is meant and design to decentralized and it cant be centralized currency, i picked some points from op when it portray that without bitcoin be decentralized currency it would have be a problem in Bitcoin, that is why when people are emphasizing on the comparison of Bitcoin and fiat currency, I do give them instance that Bitcoin is it technology while fiat currency is meant to be centralized why Bitcoin is decentralized and if Bitcoin should be centralized currency they will be disvalue of Bitcoin because fiat currency is an ancient currency.

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We already have fiat if someone wants to use the centralised currency. There are many other assets that are centralised too and valuable too that we use on daily basis. Whether it’s precious metal or commodity or bonds we have it. I don’t think Bitcoin or basically crypto should be dragged into this.

Bitcoin can enter into realm of centralised economic circle but it will happen indirectly or it is happening soon. Considering most of the big financial institutes are now forcing the applications of Bitcoin ETF and even ETHER ETF things gonna get worst. On the verge of centralisation indirectly.

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Its decentralization has made bitcoin different and unique. Enabled Bitcoin to run the network without a centralized organization controlling or managing it. Decentralization also helps Bitcoin avoid some of the potential problems in a traditional financial system, like supply exhaustion and government control.

If Bitcoin loses its decentralized nature, it will lose part of its history and value. Of course, this is by no means a certainty and it still takes time and development to gauge the impact. However, an excessive concentration in Bitcoin can pose risks and hinder its popularity and usage.

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Quote from: Riginac111 on July 16, 2023, 05:29:03 AM

From my theory of understanding bitcoin as a cryptocurrency I have view bitcoin in different ways and i understand that Bitcoin what kept Bitcoin valuable is because it's a decentralized currency, for instant assuming bitcoin was centralized the domain of the technology would have be affected or tempered. But I'm seeing that the Force of Bitcoin today to stand is because is a decentralized currency.

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I think it is not possible. Decentralization is a original principle of Bitcoin. This ensures that no single entity or governing authority has any control over the network. Bitcoin fundamental principles lie in its decentralized nature. This principle underlies Bitcoin design to promote transparency, security and independence from central authorities such as governments or financial institutions. So Bitcoin is unlikely to abandon its essence of decentralization.

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