If it is approved as legal tender by any government then that would be beneficial within that country and nothing else will happen. Just like the thing that Japan approved bitcoin as legal tender, since then everyone is using the bitcoin in their own country. Because we know that there are many advantages of owning a bitcoin with us all the time. The ease of use as well as mode of investment itself. The only thing that will happen is, its use within that country will rise largely and mostly people will try to get as much as they could.
There will be no significant effect of this decision over the global trade because everyone has their own rules and regulations and off course boundaries which can not be broken at all.
Topic: Centralized or Decentralized for cryptocurrencies? - page 6. (Read 2279 times)
Centralized system, removes the control from the people and gives it to a few just like the banking system, while decentralized puts control of the market back into the hands of the people. Both forms have their pros and cons decentralized helps the people have control at the expense of true regulations while decentralized removes control by the common man, hands this control to large corporations or investors but promotes regulations which is sometimes very important.
The initial concept of cryptocurrencies was decentralized, but unfortunately the distribution of coins that did not look fair made the team do dumping and pumping as they wanted.
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?
Not being centralized is the major thing holding bitcoin from getting a global acceptance. And it is also hindering the planned listing on the stock exchanges. May be this is a good thing, may be it is not. But the other centralized cryptos have not really done better than bitcoin since it still maintains dominance. So I think it is a plus to have decentralized cryptos. 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?
The different thing between crytocurrency and fiat is decentralized. If coin controlled by government and used for payment, i think its like digital money and not cryptocurrency. Cryptocurrency should be decentralized because government should not control the supply
Should bitcoin be approved as a legal tender it will definitely add to the popularity of bitcoin leading to mass acceptance and usage but we should not forget that decentralization is what makes bitcoin unique of its kind
Bitcoin is still the market leader with unique features and no coin can replace it so I believe future Bitcoin development is inevitable. The market is moving up and investors can fully expect.Bitcoin is always fast approaching in the economy it gives a new home town and positive outlook to the people living in the community. Well it needs an appreciation to some individual but we can see already some people changes a life because of bitcoin and that is good enough to look at it.
The good sides of Government having control over Bitcoin is that; it will bring a lot of people into dealing with Bitcoin. The demand for Bitcoin will increase as the awareness grows over the reputation and influence of the government. In result, Bitcoin's price will be affected positively. People Holding Bitcoin now will be proud of their patience afterwards.
To be honest, as a creator of this theme, i would choose decentralized. Bitcoin (and alts) will replace fiat anyway, or maybe there will be another way to replace fiat. Both centralized and decentralized networks currently exist in popular platforms.
The good sides of Government having control over Bitcoin is that; it will bring a lot of people into dealing with Bitcoin. The demand for Bitcoin will increase as the awareness grows over the reputation and influence of the government. In result, Bitcoin's price will be affected positively. People Holding Bitcoin now will be proud of their patience afterwards.
Some Governments are biased, and if they get hold of the control of Bitcoin, no one could predict what could happen. Moreover, the essence of Crypto-currency is not to place the control in the hands of some people. Crypto-currency is a default trust system, and when people gets to control it. Biasness could crept in, not to talk of when Government gets in charge.
Although, there are good sides to it.
Although, there are good sides to it.
The chatacteristic of cryptocurrency of being anonimous should be continue ,so I prefer it continue to be decentralized , If there any changes especially if it will be regulated and be legit ,then we will accept the fact ,that it will centralized in the near future.
If one country approves the use of bitcoin as a legitimate means of payment, many countries will try to isolate the country because it has indirectly opposed the rules of centralized banking and finance globally. Many large countries are still trying to keep regulating the financial and other countries' banks through debt, loans, and other regulations
The fact that being decentralized will still remains even government acknowledge bitcoin as a tender. It's solely decentralized which no one can't change it, even you want it more than your life. Yeah some altcoins can be done centralized because of its creator told it so, wherein they can have a full control.
If bitcoin will be decentralized then I guess it's game over.
If bitcoin will be decentralized then I guess it's game over.
That's a very funny question. Maybe the OP should get to know what makes centralization less of an interest compared to decentralization.
From an article I was reading recently, it says;
From an article I was reading recently, it says;
Quote
Decentralized cryptocurrencies such as bitcoin now provide an outlet for personal wealth that is beyond restriction and confiscation
Compared to centralized space, I totally believe this is one a lot of people would go for. 
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 don't think that approving Bitcoin by the government will affect to using centralized or decentralized cryptocurrency. All of use see that there are many manipulations on cryptocurrencies market including big assets as Bitcoin and Ethereum. Of course it I natural that members of crypto society mostly will choose decentralized cryptocurrency. But another citizens who don't know advantages of such cryptocurrencies and especially bankers may be will be against of such decision. Finally it up tu everyone what to choose and what to use. 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?
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?
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?
As of now while bitcoin doesn't approved of my country i choose decentralized because me and my family would be a beneficiary of bitcoin but centralization is very important to all constituents for every country if it is primay use to all thats necessary it needs to be centralized if it is primary use to all to the purpose of government provided back up fund to poor people because of bitcoin taxes.
Decentralized preferably, it's the sole essence of cryptocurency as far as I'm concerned.
It insinuates balance somehow since it's very fragile and highly unpredictable, it's what
captivated people to get involve and invest in crypto. It's alluring that way and exciting,
however all this talk about regulation does draw out the thought of a universal centralize
cryptocurrency. Time will tell I suppose.
It insinuates balance somehow since it's very fragile and highly unpredictable, it's what
captivated people to get involve and invest in crypto. It's alluring that way and exciting,
however all this talk about regulation does draw out the thought of a universal centralize
cryptocurrency. Time will tell I suppose.
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?
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 for all of us to be improved of our living lifestyle but this is not useful in general i mean to the government economy if all people are use bitcoin for daily transaction, because how could the poor people get help from government if bitcoin is decentralized we know already that in rural area has no computers and cellphones because of no internet site, how did they get help to the government.
I think that is not a very serious problem, we must not forget that we are still bound to use all the money for crypto results to Fiat, so far there are still many villages that have received financial assistance several times in a few years, without problems in temporary assistance. fiat, the original side of crypto is that decentralization will remain intact and safe, all like this, without regulation from any institution, so that we can control all money without having to intervene with others.
I prefer the decentralized cryptocurrency.
The reason for this is that, a decentralized cryptocurrency will be most transparent in transaction processes, no third party interference, no control whatsoever, no room for fraud, etc.
The reason for this is that, a decentralized cryptocurrency will be most transparent in transaction processes, no third party interference, no control whatsoever, no room for fraud, etc.
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?
Decentralization is the next step in the digital age we're in. We live in times where, privacy is coming to an end (whether you believe it or not). The more sophisticated the technology, the less privacy we will have. Of course, if you trade your freedom for security, you will end up with neither. I think ye ole Thomas Jefferson (rest in peace) mentioned something to this effect. 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?
Forgive me If I have misquoted him.
Decentralization is needed, but only to a certain degree, to much will cause anarchy, to little is considered tyranny.
i think to make it legal , the country need make regulation of that without changing the decentralized system of bitcoin because that why make bitcoin different
Yes, crypto currency will lose its spirit if it will become centralized since it will easily controlled and worst is if there is an additional fee like for taxation or any other fee that the third party will get, so as for me being decentralized system is a good strategy for crypto market and for that its more untouchable. I think that if crypto currency is centralized then maybe it will not last long and it will be gone for nothing. Jump to: