Topic: centralize money vs. decetralized money (bitcoin) - page 4. (Read 1618 times)

then the bank will limit use of your money, you can't take all your money in the bank or spend it, because they have that rule, and those who control your money, you don't have complete control, thats what you want? for me of course decentralization will be better

If told to vote, I prefer decentralized money. Because what we already know, banks are places where greedy people are hungry for wealth.

In my opinion both decentralized and centralized our good in the market. It depends on the people who will using it which those two are their like to used. Yes many of us is still afraid to used decentralized because it is not we usually use in any transactions. Putting your money in the bank is not bad because many people usually doing it before decentralization came. Holding or storing your money is not bad because you are starting to accept decentralized.

The advantages of decentralization also come with some disadvantages.
A major disadvantage is significantly lower efficiency for processing transactions. A trusted centralized transaction clearinghouse is much more efficient than a decentralized cryptocurrency since a centralized authority requires no consensus or proof-of-work; transactions can be confirmed as fast as the clearinghouse's hardware can perform.
Another "disadvantage" is that a decentralized cryptocurrency cannot be easily changed. This may be desireable by some who wish to adapt monetary policy to accomodate new needs. I have "disadvantage" in quotes because I'm leaving out the answer to the question "Whose needs are being accomodated?". A decentralized cryptocurrency like Bitcoin is difficult to change since it requires all full nodes to change the software they are running.

Since decentralized money was born, it has more advantages than centralize money. For me, decentralize money is freedom and anonymous, that's why the reason why I choose it

by system, I prefer centralization. because everything that is centralized and regulated by law, or at least there is someone who controls it, will be better.

The only thing that really makes Bitcoin different than the existing banking and financial transaction system, is that it is censorship resistant. It is that way because it is decentralized so that it cannot be shut down by pinpointing a few select points of failure, and putting the clamps on them. That's because it's peer to peer, and you verify transactions you receive yourself, and don't rely on some other entity to tell you if the transaction you received is correct or not. If running a node gets too expensive for most users to run, then they have to rely on third parties to verify transactions for them, like Coinbase, or Bitpay, or Blockchain.info. They then get power to force through even more centralizing pressure, strengthening their position until they are irreplaceable. What happens then when some powerful states come knocking, and demand a fork to redistribute all coins from a revolutionary party's wallets? Or that all fungibility features be removed? Or that the mining reward schedule be extended forever, to "stimulate growth", aka building a bubble during their rule so they get elected again? We would have completely lost our censorship resistant money. It's only when you at least have the option of verifying your own transactions, that the system is resistant to corruption.

Decentralized money offers freedom and secured access to your funds you can control and holding the coin of yours but in centralized system someone is controlling your funds so you need to decide which one is best.

Some years ago i was very skeptical about centralized currency just because of my educational background as an accountant but today i am better informed and i champion decentralized money because i see good future, i see a world where everyone is a potential rich man or woman irrespective of who you are, where you come from and your background.

For now, centralized money is more dominant, even the most ideal to be implemented in the world, because all levels of society can use it. While decentralized money tends to be used by people who understand technology, because all transactions are done digitally. You can imagine that in a country that is still poor, there is no internet network. For developed countries, decentralized money can be used because people are smart and internet technology is very fast.

I think they are afraid of risk so they choose a safe way to send money and that is not wrong because everyone has their own choice, There is no right or wrong to suit them or not.

I think that we all know that bitcoin is a decentralised crypto currency and there is no such proper authentic regulating body over bitcoin and I think this is the most probable reason that social defaulters find very easy with bitcoin to have illegal activities and thus discouraging many countries to legalise it in their nation and I think the best solution to this issue is to legalise the bitcoin globally so that every country’s government will then take care of all thebitcoin related activities.

Just a Financial Advisor in connection to a bank will pick a unified cash since keeping money framework is control by few substance. Decentralized is the best for all ordinary individuals with the goal that we can have all money related flexibility.

Irrespective of the fact that keeping your money in the bank (centralize) and storing it yourself (decentralized) both have safety and security obligations. It is better to invest your money than just keeping there.

 There are two types of cryptocurrencies , first centralized cryptocurrency , 2nd decentralized.
 Centralized cryptocurrency is controlled by some government or any COMPANY.IT has value only in specific area under company or government boundary.for instance if you go any mart for shopping,mart gives you reward point against your shopping.you collect these points and use these points for shopping.These points are not your currency but work as a currency.These points are also called centralized cryptocurrencies because you can use these points only in mart.These points have no value out side of mart anywhere. But bitcoin is decentralized cryptocurrencies. Decentralized cryptocurrency has no connection with any state,government.

A centralized currency has a single entity that decides the aspects of the currency. For the United States, the Federal Reserve is what controls the centralized currency.

A decentralized currency has no single entity deciding the aspects of the currency. With Bitcoin, the protocol and the network are what dictate direction. Anyone can propose changes to the Bitcoin protocol, however the network must agree.

Well it depends on how you see the situation, for me both centralized and decentralized money is important, centralized money is important to control the inflation and balance the economic while decentralized is important to get the freedom and it's good for investment, as we know centralized investment won't beat the inflation, so there are pro and cons for those two money

The thing with bitcoin is that it is volatile. In banks there is a guarantee of interest. In cryptos you really can earn a huge profit also loose a whole lot, purely based on what will the value be. They are not afraii because it is digital, they are afraid because of this instability in price.

Centralized money like fiat currencies notes,coins and decentralized is virtual money now bitcoin is more popular but many investors afraid to loose because its price is volatile and any agency is not control bitcoin but bitcoin investment is best investment rather than bank investment because we can make handsome profit from bitcoin and bank give us only 2 to 5 percent.

Yeah exactly. Your money will not actually gain in value unless you take some degree of risk with it. And there are no such things as "medium risk" products, either it's guaranteed and has no risk, or is exposed to extreme deviations, like a market crash.

Financial analysts are sales people representing the bank's need to continue recycling the money. When you tie up more with them, it enables them to lend more out (up to 90% what you put in) and thereby profit immensely on interest rates. That's why they can afford to give you a few percent.