Topic: Centralized coins - page 7. (Read 994 times)

I don't know about the good part but I'm dead certain of just one bad part that would make any sane person stay away from these quasi-monies. Such coins are centralized which means there is a single entity behind them. It is not a big deal and a lot of pain in the ass for a government to forcefully close or shut down such an entity. That would mean instant death of the coin. Simply put, governments don't like private money in general. There were efforts in the past (even before Bitcoin) to issue such money, which aimed at creating a universal means of payment and exchange, as opposed to promissory notes and bills of exchange which are also forms of private money, though not universal. Needless to say, all such efforts failed as governments were quick to nip in the bud and halt any such activity. They will never willingly give up their monopoly on creating money or tolerate competition in this field.

Governments are putting up with cryptocurrencies because they can't effectively fight with them. This is evidently not the case with centralized or private money like Ripple or whatever. So there is no reason to think that such currencies will ever be able to take over cryptocurrencies like Bitcoin and friends. As soon as they get traction, they will be destroyed.

All what cryptocurrency is fighting for is decentralization, any form of centralization that comes in form cryptocurrency will not last, especially the traditional banking sector getting involve. Be careful while investing in such cryptocurrency.

We have centralized coins now and majority wont use them and i am sure in the future there will be government backed centralized crypto currencies, just like the Venezuelan petro, it is your choice whether to use them or not, if you look at petro they are offering discounts to purchase their oil and if countries comes up with centralized coins and they are willing to give bigger discounts for purchasing things, why not use that to purchase it, that being said i wont be investing anything in it, but just to carry on the trade i might purchase it.

Ripple is not cryptocurrency in the narrow meaning of this word:
1. It cannot be mined - the developers themselves mined around 100 billion coins and left 65% monopolized.
2. It does not use the blockchain technology as it is. Instead, the system operates using so-called "gateways", through which all transactions pass. These gateways are installed in the various offices of the company.

So, actually, I can't see any further development of this coin, neither it can become more expensive that BTC and ETH.

Centralized and decentralized coins have a different purpose. For me, there's no good part in centralized coin because it's way much better to trade directly than needing a single administration to trade.

Ripple always calls its platform as decentralized though.

the value of centralized coins or any fiats can be manipulated, depending on the current market, even the production of it can be limited. the idea of being decentralized give us more freedom over our own assets, on where and when to trade it, we highly depend on the actual circulation of coins in the market, which resulted to high volatility. that is why i don't see and advantages of a centralized crypto, on the part of the ones who own the market, a centralized coins can be beneficial to them but on our part as traders and consumers, it will not.

Well the fact that they are centralized, it means it is controlled. I think they have a place in the market. But i don't think it will grow more than it will lose because if it grows, the banks are on the losing edge, and if investors lose, the banks are on the winning edge. At least that's how i see it.

this is interesing though. A lot of people might invest in it since it's recognized by the government. The question would be is the transaction fees, would it be the same as bitcoin transactions plus taxes?

Well technically a centralized coin will have some advantages over decentralized coins, bought ideologically what is the point of using a centralized coin, if you want to do that then use fiat in its physical form or in its digital form, I will admit that I am a little bit worried about ripple right now, I would like that it was not such a big project fortunately bitcoin is still in the first place in the market cap and I hope it remains that way.

We will probably see both decentralized and centralized coins existing at the same time because they have different functions. Some people feel that we should not even compare the two in terms of market cap or one being better than the other.

Centralized coins will be controlled by some kind of business which is different than the concept of Bitcoin which has no central authority to control it other than the Bitcoin foundation which is made up of individuals.

No. Centralized coins will not be supported with cryptocurrency community as much as decentralized. People who working with cryptocurrencies love Ethereum and Bitcoin!

The best part most of us see is the liability. If cryptocurrency's were used for criminal activities then government may find ways in tracking down these transactions. If you have your account compromised  then you can run into a certain body that could help you recover it.

Being regulated is one common issue that will not die because there are still a lot of users against it, without them considering the security and support the countries might give back.

The whole point of using cryptocurrency is to escape for the centralization, the collect of data and information in one point which will allow hackers governments and agencies to access this data easily, bitcoin or cryptocurrency is popular because they are decentralized, the data is spread all over the world between all the users, which will allow for more privacy, anonymity, no one will be able to know what are you doing, bottom line i am not saying that centralized coin won't work, but if privacy is not the thing that people are looking for in cryptocurrency than there is room for it.

Bitcopin and ETH were too awesome,I prefer having Waces lined with these two than Ripple, I noi longer see ripple to have such huige difference in value in the future for the number of its volume. Btcc and ETH still have long way to go.

The good part of having a centralized coin is supported by the banks and all I can say it has better future than others however I don't support any centralized coins since it's against the concept that Satoshi has been proposed. Bitcoin is the mother of the crypto and seems like it can't be replaced even centralized coins such a ripple, etherum is different and it has been used as smart contract well basically every coin has their own function. To be honest i just feel like ripple is too far away to compare with bitcoin and etherum.

Example of centralized coin is Ripple. Because owners can create Ripple in the fly. They can create Ripple anything out of no where. Another centralized coin is Bitcoin Cash , it is reported that they mine a huge Bitcoin Cash before it was released in their fork. Its so pretty disappointing that crypto currency is somehow dirty.

Centralized coins will be relatively stable, as regulated by the government or those who make the coins like bank. Centralized coin will be focused on payment system, and not suitable to be used as investment or trading. It could be used as an investment or trading but the income will be very small.

However, decentralized coins such as ethereum and bitcoin will always have a high price, the benchmark price will be determined by the user not by one party. To determine win or lose depending on your judgment, if you look to bitcoin and ethereum in the price side who have a decentralized system is the winning, but for Ripple or other centralized coin will be the winner if you look as a payment because the price is stable and suitable to be used as a payment system.

There is a room for such coins within the economy, though it's hard to tell whether people would submit to such an idea or not. Maybe those people who believe that a central authority should exist and maintain their finances but those who think that the said system is crap would likely not tread further. If a centralized coin is officially introduced by a government or a bank, that could potentially catch the attention of people who believe that banks and governments are the best things ever happened in the world, but if it's just another private company, it just might be another scam in the making and people would just turn their backs with no hesitation.

Centralised coins are always supporting to government not a peoples so most of the investors are avoiding the centralised coins. But some peoples are panic to invest in decentralised coins because it is not stable currency anytime it will raise or fall is happening in the decentralised coin. So centralised coins are not fit for the Crypto investment.