Centralized or Decentralized for cryptocurrencies? - page 4.

Kevin77

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Quote from: Ucy on September 26, 2018, 07:42:37 PM

Is "Centralized Cryptocurrency" even a thing?

Here are the most important qualities a true Cryptocurrency must have:
A true Cryptocurrency must be decentralized, public, trustless, permissionless, immutable, transparent, uncensorable.
These should also be very important rules of Cryptocurrency which developers must try to stick with. Exchanges ordinarily should not list Cryptocurrencies that Break the rules.

That is it. It is not even a thing to be putting cryptocurrency as a centralized entity which is even one of the reasons a lot of people have been skeptical right from the onset when it comes to investing in Ripple. For what it is worth, I believe that no one will always want to discard freedom and want to stick with being enslaved as that is how I see centralization.

Decentralization on the other angle, is more like you being given that control back and you are free to do what you want to do with your activities as long as you are not going against the laws of your jurisdiction, and that is something I will always choose anytime any day over centralization. One of the reasons we are here in the first place anyway.

BagzMM

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Quote from: CPetersson on August 30, 2018, 02:49:32 PM

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?

In my opinion, if any government approved as a legal tender then we must have to follow what government wants it is for the improvement of our nation. Let us just hope and pray that it will have a good impact to the economy as well as to the people.

wxa7115

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Bitcoin is GOD

Quote from: Ucy on September 26, 2018, 07:42:37 PM

Is "Centralized Cryptocurrency" even a thing?

Here are the most important qualities a true Cryptocurrency must have:
A true Cryptocurrency must be decentralized, public, trustless, permissionless, immutable, transparent, uncensorable.
These should also be very important rules of Cryptocurrency which developers must try to stick with. Exchanges ordinarily should not list Cryptocurrencies that Break the rules.

It isn't a thing right now, but there are very clear indications that governments are looking into this, again we have the government of Venezuela that has released its own centralized coin and there are many countries that have brought the possibility of releasing their own cryptocurrency, I know that it doesn't make sense, cryptocurrencies are supposed to be decentralized and to be independent of banks and governments, but they have such a huge monopoly that they are going to do everything they can to take away as much people and money out of the market of cryptocurrencies and if that means releasing their own coin then that is something that they're going to do.

Escf4

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GIGZI - INDEPENDENT WEALTH MANAGEMENT

If what is good for the organization of the cryptocurrency, then we will be it , if cryptocurrency is designed and being promoted ad a decentralized crypto currency, and it goes very well ,then we support to continue this as a decentralized if this will bring a good effect in the cryptocurrency world.

dewildance

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Decentralized exchange may be more popular in near future. But trust issue the DEX not easy thing. I think centralized exchanges a little bit more trustable. For now at least.

SusanAnn

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Cryptocurrency is famous for its decentalization, i don't think it should be centralized someday. If yes, it will soon be destroyed because it threat fiat currency

r32godzilla

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Quote from: CPetersson on August 30, 2018, 02:49:32 PM

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 governments 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?

It would definitely increase the adoption rate o bitcoin as it happened early in Japan. More investors would get confidence in buying and holding bitcoins as there would be no more threats from the government about banning bitcoin.

Uhde

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Quote from: CPetersson on August 30, 2018, 02:49:32 PM

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?

cryptocurencies are baseeed on blockchain technology. the most innovative feature of this technology is to provide a decentralized ecosystem for us. decentralization help people against being robbed by banks and any strict authorities.

Ucy

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Compare rates on different exchanges & swap.

Is "Centralized Cryptocurrency" even a thing?

Here are the most important qualities a true Cryptocurrency must have:
A true Cryptocurrency must be decentralized, public, trustless, permissionless, immutable, transparent, uncensorable.
These should also be very important rules of Cryptocurrency which developers must try to stick with. Exchanges ordinarily should not list Cryptocurrencies that Break the rules.

Rosesie

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It is clear that people will choose decentralized for cryptocurrencies because of it decentralization and it can not be controlled by anyone or any group.

livingfree

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Hire Bitcointalk Camp. Manager @ r7promotions.com

Quote from: wingsthegreat21 on September 24, 2018, 03:39:47 PM

I think everybody had their own piece of this negative experience with centralized exchanges over the years. With this DEX hype, I've made my own research, tried like a dozen of those DEX's and Bancor turns out to be the best one for me. I don't like letting another group control my funds or what I can do with them. Centralized versions like Kucoin or COSS that offer a unique earnings model and user incentive will have their place, and the access to $$ markets means places like coin base will be the major gateways into cryptocurrency for the foreseeable future.

Mate. This isn't a discussion about exchanges but its about the acceptance of government of bitcoin as a legal tender.

You assumed that just because there are the words "decentralized" and "centralized" its about exchanges. It's not about the negative experience of a user from exchanges but your reaction if the government starts to adopt bitcoin and recognizes it.

marcbitcoins

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Quote from: CPetersson on August 30, 2018, 02:49:32 PM

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?

Centralized and decentralized systems both have their own advantages and disadvantages so i think there is no direct significant effect from these two systems to Bitcoin because Bitcoin value will always depend of suppy and demand therefore either centralize or decentralized system just as long the real demand is always there then Bitcoin will always have a future.

concitta

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the concept of bitcoin emergence is decentralization, if from the beginning its spread has entered the realm of centralization, price strengthening and equity will not be as far as now, because the players are only for a handful of people.

But altcoins have different potential where CEOs can have the possibility to integrate with the demands of a centralized state system. but I will continue to believe that they remain on the path of decentralization with various adaptive likelihood ratios.

feehannah

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Quote from: CPetersson on August 30, 2018, 02:49:32 PM

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?

People like and enjoy decentralized cryptocurrency but if ever government find a way to make it centralized people have no choice but to accept it and follow the rules and regulations government will implemented.

BartS

sr. member

Activity: 980

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Quote from: CPetersson on August 30, 2018, 02:49:32 PM

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?

Since bitcoin is a better currency than all of those centralized currencies, it is very likely that a government that decides to adopt bitcoin will not do it for long because they are going to realize that bitcoin eventually begins to supplant its own currency, that is why we see a lot more countries banning cryptocurrencies than adopting them but at the end of the day it doesn't matter even if a country decides to ban cryptocurrencies people are going to use them if they can obtain benefits out of them.

wingsthegreat21

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I think everybody had their own piece of this negative experience with centralized exchanges over the years. With this DEX hype, I've made my own research, tried like a dozen of those DEX's and Bancor turns out to be the best one for me. I don't like letting another group control my funds or what I can do with them. Centralized versions like Kucoin or COSS that offer a unique earnings model and user incentive will have their place, and the access to $$ markets means places like coin base will be the major gateways into cryptocurrency for the foreseeable future.

wxa7115

hero member

Activity: 2814

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Bitcoin is GOD

Quote from: BOTTOS on September 09, 2018, 06:19:20 PM

Decentralized is what we should strive towards. Centralized cryptocurrency defeats the purpose of cryptocurrency.

This is correct, but this is precisely the type of cryptocurrency that governments are going to create in order to deceive people into thinking that they are investing in a new technology when it's nothing more than glorified fiat, I really think that is the next step that governments are going to take, you just need to look at Venezuela and their attempts to create their own cryptocurrency.

But like always their efforts are going to fail, those kind of currencies in which a centralized party can print as much of it as they want are always going to fail because those currencies are not based on sound economic principles, you cannot create wealth by printing money you only create an a scenario in which your currency loses value.

BOTTOS

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Decentralized is what we should strive towards. Centralized cryptocurrency defeats the purpose of cryptocurrency.

kidoseagle0312

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Well of course I would rather go decentralize concept, And I know for sure everybody here want it too. Due to we don't to be control by someone else or by the government. Then, cryptocurrency was being categorized as unregulated business while centralization is for regulated business which is controllable by the government, and we don't it to be happen as crypto fanatic.

sunsilk

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Having a government approval for supporting bitcoin gives the supporters and investors a confidence that the government isn't disagreeing with bitcoin or cryptocurrencies. But whether we will see them adopt or not, bitcoin is bound to keep on operating.

We believe that with these adoptions and approval's will make the price of bitcoin on a boost but if there will be no the same event, nothing will happen. As long as a country declares bitcoin isn't illegal to them, whether they will declare it as a legal tender or not and they are neutral to it I guess that's ok.

Topic: Centralized or Decentralized for cryptocurrencies? - page 4. (Read 2313 times)