Topic: Centralized or Decentralized for cryptocurrencies? - page 7. (Read 2279 times)
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
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?
Could you please inform, is the ETH centralized?
If yes, then are all altcoins (based on Ethereum) centralized too?
The statement in the above mentioned about centralization was right actually, now in crypto currencies most of it are being categorized in decentralization. Though there are few countries declared Bitcoin as legal currency to their territory like in Japan, and Korea if I am not mistaken, correct me if I am wrong with it.
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.
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 if bitcoin is approved by the government it will create a precedent that will be used by other countries . Germany and Belarus are very close to cryptocurrency ,I believe that the next 10 years, half of the countries will switch to blockchain technology.The question then is, can the blockchain exist without bitcoin ? 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?
Could you please inform, is the ETH centralized?
If yes, then are all altcoins (based on Ethereum) centralized too?
The statement in the above mentioned about centralization was right actually, now in crypto currencies most of it are being categorized in decentralization. Though there are few countries declared Bitcoin as legal currency to their territory like in Japan, and Korea if I am not mistaken, correct me if I am wrong with it.
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?
Could you please inform, is the ETH centralized?
If yes, then are all altcoins (based on Ethereum) centralized too?
No one really like the idea of centralization and since the option of decentralisation came, it even became attractive like something that has been needed utmostly. Decentralisation brings freedom on the way you spend without any format of control or monopoly by some system or government.
So in that case, who would want to give up decentralisation for centralization, except the government herself? Obviously over the years, we all know the negative impact centralization has played globally.
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?
This is easy we must always choose the decentralized option, this world is already very centralized with a lot of power in very few hands and this is not healthy since those people do not have to do anything to retain their power since they fix the system to always benefit them.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?
With a currency like bitcoin that cannot be printed at will the governments will not be able to spend more than what they get on taxes something that as far as I remember is in the US Constitution because if you allow a government to go into debt then you are saddling the future generations with your own mistakes and that is immoral, so if a governments approves bitcoin as a legal tender that is fine but we must never accept centralized cryptocurrencies coming from a government or any other entity.
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?
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.
Decentralized cryptos like bitcoin are going to be the trend in the future. These are the real store of values when it comes to an economic crisis because of the fact that they are not controlled by anyone and can't be abused.
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.
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?
I think it will surely increase bitcoins investors. The more the government trust bitcoin the more people who will also trust and follow governments movement.
Of course we would like a decentralised for crypto, one of the reasons crypto is famous is because of the freedom, people already tired of everything being supervised by the government, the legality and adoption of crypto is depend on the government's point of view, if they can see crypto as the new technology and new way to do transaction then I think they will adopt it because crypto got so many potential that can make people to do easy transaction
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?
I think Bitcoin’s price would increase a great deal in this situation, but I don’t think Bitcoin really needs to be adopted as an official currency to be successful. It just has to be used by enough people as a store of value or method of payment. It can thrive just as a store of value.
Bitcoin is decentralized, it use a blockchain technology which there is no an authority controlled this. Everyone is free to get into crypto. If Bitcoin centralized is not different from any currency or virtual currency. Therefore, it is become new trend of digital money because it is decentralized.
I don't consider centralized coins to really be a cryptocurrency. Coins like EOS and ripple and centralized so you aren't in 100 percent control of your own coins.
For me I want decentralization ,I dont want government control us especially in the transaction money.But it also depends if what rule can government gave to us if they are againts on it its better to be decentralized and work it on our own.
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?
No country is ready to adopt bitcoin. Countries have just marked it as legal/legal but banking ban/illegal: https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territoryLegal tender should mean, everybody in a particular area is willing to accept it as a form of money, and as far as I know, no country has ever done that. If that ever happens, it may have a good effect, but it will mostly never happen, for numerous reasons. Think why?
Obviously, people want now decentralized cryptocurrencies because of there features and now the people don't want to be controlled by the government also.
One more thing this question has been answered much time here search the forum.
Yes we want it to be decentralize becaus eit makes bitcoin safe from hacking and from the greedy people. If bitocin was remain decentralize even government cannot control it. No ome csn manipulate the price of every coin in the market unlike when it was cengralizd it ws like bitcoin was open for the possibility that it can be abuse and not controll in a proper way by a big or. Rich people. One more thing this question has been answered much time here search the forum.
Once governments started recognizing bitcoin as somewhat legal on their definition, it will give yet another massive price boost for the said crypto. Japan started it last year, and other countries are also reviewing the possibilities for bitcoin to become a recognized asset, a currency or a legal tender. Personally, I'd say decentralized or centralized coin depends on its usage. Both has its pros and cons depending on usability. Centralized coins can be an excellent token for private services, whereas decentralized coins can be used for purchases across borders.
If bitcoin is approved by the government as a means of payment, it's very good, but on the other hand we don't want to be controlled by the government because it will only create restrictions from the government. The original nature of bitcoin is decentralization, stand alone!
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. 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?
Bitcoin is already legal in Japan, which significantly boosted its price last year. I think it's safe to say that the increase from $1000 to $5000 was largely dedicated to Japan's open-minded stance on Bitcoin.I however don't see the same price boost happen each time a country follows the same path, because the more often these events follow each other up, the less effective they become.
On the other hand, I do have to point out that Japan has significantly reduced the freedom people using Bitcoin had before. It has become a strict jurisdiction to operate in, which even forced Binance to leave.
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