If government start regulate bitcoin, i think its good for bitcoin and crypto holder. They can spend their bitcoin easily and government have advantages to collect more taxes.
I am believe if government regulate bitcoin and cryptocurrency, government will earn positive effect in many sector like tourism
Topic: Centralized or Decentralized for cryptocurrencies? (Read 2313 times)
We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized
The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
1st: centralized
2nd: decentralized
The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
I think that centralized currencies are good for a company in terms of transparency but I doubt it's security because if they are using PoW or PoS masternodes it is still under the same management so they could simply alter that and would just result no good, it's just another expense which is not necessary so my judgement is Centralized Cryptocurrencies aren't good as it's sounds and unproductive.
But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?
Price action. If bitcoin could be adapted by any government and allows it to use and also act as a local currency, I think it could be huge jump to be globally accepted. Domino effect.
The demand of bitcoin will be increase, many investors now are afraid about bitcoin price, the good sentiment will be made by that good news. Decentralization is better then centralization, I am sure that decentralization could lead to the balance of economy. So I am sure that decentralized cryptocurrencies is a solution to the unfair current economy system that use fiat as medium of exchange.
But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?
There is virtually no point in adopting centralized cryptocurrencies at least in my opinion, simply because of the fact that it's essentially the same as fiat currency - it's not backed by anything, its supply can be debased, and it's just totally controlled by a single entity.
Your last question didn't make much sense. I'll still try answering it, though. There is going to be no effect on bitcoin itself if it ever becomes legal tender in a particular country, but it will have an effect on those who live in that particular jurisdiction, as the legal definitions of bitcoin may change.
I think it should be centralised.Their are many countries which are not accepting bitcoin only because it is not centralised.Due to ban on bitcoin in their countries,investors are not investing in it and this directly lower the price of BTC.Moreover crime will be decreased if it will get centralized.But converting decentralised currency into centralised one is very tough.
For now, cryptocurrency is decentralized with all the benefits enjoyed by bitcoin users. However, many countries reject bitcoin because the state wants centralization with the aim of monitoring bitcoin users and bitcoin price movements, where the state has an interest in taxes and protects against criminal acts.I think it should be centralised.Their are many countries which are not accepting bitcoin only because it is not centralised.Due to ban on bitcoin in their countries,investors are not investing in it and this directly lower the price of BTC.Moreover crime will be decreased if it will get centralized.But converting decentralised currency into centralised one is very tough.
For now, cryptocurrency is decentralized with all the benefits enjoyed by bitcoin users. However, many countries reject bitcoin because the state wants centralization with the aim of monitoring bitcoin users and bitcoin price movements, where the state has an interest in taxes and protects against criminal acts.
Are there any centralized cryptocurrency? Never heard of that because most of the crypto are decentralized. Anyway, decentralized currency works better if one does want to earn profit by trading. Most of the users who are trading are doing fine with cryptocurrency because it is being decentralized and has more volatile than centralized currency.
What is the point in having a centralized crypto-currency? We already have fiat-based digital currencies such as Paypal and Visa. So what makes a centralized crypto any different from these? The main purpose of Bitcoin is to prevent the monopoly of the central banks. A centralized crypto won't be able to perform that.
There is no point in having a centralized cryptocurrency, but I am completely sure that governments are going to create their own very soon, and many people could ask why that will be the case? And that is because they do not want cryptocurrencies to take all of that market, they will want to create competition to create confusion among people about which coin to adopt, people like us are not going to be confused, we know why we are holding cryptocurrencies in the first place.But the rest of the people are going to think that a centralized cryptocurrency is better, because they get the advantage of a cryptocurrency with the protection of the government but we know that is simply not true.
We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized
The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government
But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?
I think the cryptocurrency must be a decentralized because many people in cryptocurrency don't want to be controlled by the government, while if it was a centralized the government can control the cryptocurrency. Yes some government in the other country are accepting or adapting bitcoin but not really accepting that much because they don't want to legal it. 1st: centralized
2nd: decentralized
The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government
But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?
Decentralization is the best way to go. Government can still have control over the economy of a country even if bitcoin is accepted as a legal tendency or currency in any part of the world. It is based on consensus, we need people to understand how blockchain technology works, so they can appreciate decentralization.
Most of us want a decentralized cryptocurrencies other than to centralized. We don't want the government to regulate the cryptocurrency because it maybe use in a bad way.
We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized
The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government
But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?
Why would cryptocurrency be centralized when it’s already decentralized and fiat is centralized? They are both the way they are meant to be, and if any country considers Bitcoin a legal tender it does not have any impact cause things will still be the way they are, its still going to end with some countries not accepting it and some accepting it. And that’s how it has been.1st: centralized
2nd: decentralized
The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government
But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?
system, they need to be outside cryptocurrency, implementation needs to not to interfere with the main purposes.
In my humble opinion decentralized coin has only a small advantages to centralized. But for me both token can be manipulate by big whales, they can control the value of it. Big whales can do everything as long there is no limit in each holder. I suggest that each holder should have a limited holdings but the question is how should that be implemented? It won't happen. That is why both token are risky and no assurance but when it come to security, decentralized win.
We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized
The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government
But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?
Why would cryptocurrency be centralized when it’s already decentralized and fiat is centralized? They are both the way they are meant to be, and if any country considers Bitcoin a legal tender it does not have any impact cause things will still be the way they are, its still going to end with some countries not accepting it and some accepting it. And that’s how it has been. 1st: centralized
2nd: decentralized
The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government
But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?
I think it should be centralised.Their are many countries which are not accepting bitcoin only because it is not centralised.Due to ban on bitcoin in their countries,investors are not investing in it and this directly lower the price of BTC.Moreover crime will be decreased if it will get centralized.But converting decentralised currency into centralised one is very tough.
1st: Centralised Currency
2nd: Decentralised Cryptocurrency
There is not centralised cryptocurrency i think that also the currencies which has some of the relations with the government are centralised currencies like the national fiat currency you use.
There is a lot of difference between currency and cryptocurrency.
Understand the difference and you will get your answers.
1st: Centralised Currency
2nd: Decentralised Cryptocurrency
There is not centralised cryptocurrency i think that also the currencies which has some of the relations with the government are centralised currencies like the national fiat currency you use.
There is a lot of difference between currency and cryptocurrency.
Understand the difference and you will get your answers.
1st: Centralised Currency
2nd: Decentralised Cryptocurrency
There is not centralised cryptocurrency i think that also the currencies which has some of the relations with the government are centralised currencies like the national fiat currency you use.
There is a lot of difference between currency and cryptocurrency.
Understand the difference and you will get your answers.
The only difference in them is the outside control over currencies like Dollar is controlling by a central government the supply and value they measures for every second and if we come to the decentralize nature So crypto comes 1st in our mind and now a days bitcoin is changing world order and it is not controlling by one person or one country.
If they did approve of Bitcoin as a legal tender, then all is fine. People will use crypto currency and i know yhe government will earn from its tax but the government themselves will not use crypto currency because it ia decentralized so they can't control it and transparent and they can't hide their illegal dealings.
Jump to: