Centralized or Decentralized for cryptocurrencies? - page 8.

Nanot

member

Activity: 266

Merit: 10

Quote from: CPetersson on August 30, 2018, 03:49:32 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?

As what i have think i prefer to go with centralized because since bitcoin was becoming the next era currency so that the government also has concern about it in able to manage also the country and thier many aspects but when it terms to money we are all governed by it. Because you will not be able to live without money to expences all the needs in everydays life and to the future

aoluain

legendary

Activity: 2380

Merit: 1343

Quote from: Crypto24hrs on August 30, 2018, 05:09:03 PM

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

Absolutely, the decentralised nature of bitcoin is one of its main features.
bitcoin being adopted by a country as legal tender is one thing and it nay
be good for it but governments and banks following on trying to control
it is anothet. This would go against the concept of bitcoin.

We have already seen high profile countries like germany and japan
recognise bitcoin as a form of payment but they dont use the term
"Legal tender"

ylnar123

member

Activity: 350

Merit: 10

Quote from: CPetersson on August 30, 2018, 03:49:32 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?

Many people prefer a decentralized cryptocurrency due to it's anonymity on their transactions. Aside from that, decentralized crypto are not backed by the government which could lead to taxation.

Crypto24hrs

jr. member

Activity: 462

Merit: 1

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

Aniadec

jr. member

Activity: 70

Merit: 1

Quote from: CPetersson on August 30, 2018, 03:49:32 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?

Could you please inform, is the ETH centralized?
If yes, then are all altcoins (based on Ethereum) centralized too?

lady Royal

hero member

Activity: 720

Merit: 500

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.

CPetersson

newbie

Activity: 98

Merit: 0

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?

Topic: Centralized or Decentralized for cryptocurrencies? - page 8. (Read 2279 times)