Topic: DECENTRALIZED OR CENTRALIZED? (Read 3898 times)

Same. Decentralization is the key of success for any blockchain-based cryptocurrency to date. If that is taken away, then the blockchain would serve no real purpose, as it would bring back the middleman similar to the traditional banking system, we've been used to for quite some time. We've all seen how Ripple and EOS have been extremely manipulated by their players, either freezing accounts or limiting access to the "blockchain" at will. Eventually, these centralized systems might fail in the long term if people use decentralized systems at a greater level.

As for Bitcoin, being the original cryptocurrency, which started it all, it should retain its decentralized model forever. Because, if it turns out to become centralized, then I'm afraid that it won't be admired by people who're looking into financial sovereignty. Despite this, Bitcoin could have a great future ahead of it, if it continues to be backed by its community while retaining its decentralization. Just my thoughts

For me, I think its better to become decentralized where we can see that there will no one can control or manipulate the system. Most of us want to a decentralized token or cryptocurrency. Lastly, I think no matter what happen I will vote for decentralized.

I prefer to use decentralization because it is more independent than centralized control. The blockchain technology used by bitcoin is one proof that decentralization is safer because the servers are in many computers so  cannot be manipulated or hacked.

That's certainly true, mate. However, this could change if Bitcoin becomes centralized largely because of greed from the miners. We all know how Bitmain has centralized Bitcoin extensively with the formation of mining pools. This means that sooner or later, Bitcoin would become another centralized financial institution (like a Bank) backed by a few entities. Many people haven't noticed this yet, because they only believe in Bitcoin as a speculative cryptocurrency but not as a cryptocurrency with real utility for the mainstream world.

While there's no such thing as 100% decentralization (like I've said before), we should do our best to keep Bitcoin as decentralized as possible. Bitcoin depends on us to maintain itself as a Peer-to-Peer Electronic Cash. Otherwise, if we let large corporations (such as Bitmain) take over Bitcoin, then we would be dealing with a centralized ledger which can be manipulated at will by a few entities (just like Ripple).

Nonetheless, I hope that Bitcoin, as well as, other cryptocurrencies would remain as decentralized as possible for the benefit of everyone. Just my opinion

If bitcoin is centralized, it will simply lose its unique feature. Bitcoin will not be much different from other currencies.

If bitcoin is centralized, it will simply lose its unique feature. Bitcoin will not be much different from other currencies.

Decentralized financial ecosystem is always better than a centralized system. Decentralization elminates the third party system where this party needs to be present before transactions can be made. This system presents financial freedom to everyody around the world and transactions are peer-to-peer.

Cryptocurrencies do not need centralization. That's significant. However, people need centralization of services in the cryptocurrency. For example, a Bank or investment services. An ordinary person will not be able to invest or use decentralized assets correctly. He'll need help. These are complementary parts of a whole. This is my subjective opinion of course.

Exactly. There may be no such thing as a perfect system, since everything has their weaknesses and strengths. Decentralization brings us many benefits, but it lacks consumer protection, dispute resolution, high performance, and more. On the other hand, centralization brings us the protection of our funds, unparalleled transaction speeds, and more. Which is why, I believe that there should be a balance between both, to help establish a system that's stable, but at the same time, regulatory friendly.

One thing for sure, is that there's no cryptocurrency that's 100% decentralized. Bitcoin, Ethereum, and many other cryptocurrencies have some level of centralization within them. What's important is that they remain as decentralized as possible to obtain censorship resistance, especially in a hostile world where governments spy on every people and do whatever they have in their power to stop anything they consider as a threat.

Therefore, decentralization is the way to go for Bitcoin and any other cryptocurrency in existence. After all, that was Satoshi's main purpose when he/she published the Bitcoin Whitepaper. Eliminating the middleman is what Blockchain technology is all about. However, it's success will depend on mainstream adoption from people worldwide. Just my thoughts

I think whatever platform could benefit from a decentralized network. Whether its cryptocurrency, games and even social media platforms. A decentralized system will keep things accurate and transparent. If the web can be free of fake news, transactions and other financial processes can also be less prone to mistakes and fraud. This is all something that could benefit us all, right?
https://virternity.com/news/decentralization_eliminates_disinformation

Yeah centralized exchange already proof their identity and quality
I think decentralized exchange is not secure in different sides
My friend wallet hacked and more than recently 2300$ stolen from forkdelta
Definitely happened by forkdelta authority i believe

Centralized exchange strongly secured i think
Because they asking KYC and for more safety purpose
Two factor security is more strong and protect to your wallet
But hacking is possible also in centralized

calm down no one can change the bitcoin system. decentralization is increasingly popular today and it will certainly become more well known in the future, I myself think that it is very likely that in the future, decentralization will be implemented for world economics, seeing the enormous interest of many people?

I like to be private and safe from other steals so i like to say that decentralized money sis the best for me and i hope that people knows that it is an opportunity for us to keep safe and secure if we not decentralize then we will pay multiple costs over transactions.

Decentralized,bitcoin was made decentralized  and im gald it is. Otherwise government has the control and it is not good for us i supposed. Anyway, have you guys heard about Dapp.com? Dapp.com is the largest dedicated platform for sharing exciting dapps and valuable knowledge about decentralized technology. They are helping everyone to understand, create, and enjoy this exciting new technology with enthusiasm.

Here's another interesting masterpiece Dapp.com  has made. The 3Q Dapp Market Report for 2018
https://www.dapp.com/article/dapps-got-game

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I think decentralization is better. No one can control it, it is much better than centralization.

Centralization has infested the world like a plague and out of this there are central authoritative bodies who have drawn power to themselves in order to control the affairs most especially the financial transactions of the people. In this, there are numerous shortcomings including denial of transactions, slow transactions, long bureaucracy to follow which normally gets weary etc.
Decentralization is what Bitcoin offers and out of this, the people are masters of their own financial transactions in which there is elimination of third party involvements.

I don’t think it’s fanatical about decentralization. If we are talking about things like Bitcoin, then decentralization is important, but if we say it is a platform that can be a hybrid.

I think centralized bitcoin would just be the banks, in fact, I don't find many reasons for bitcoin to become centralized, it wouldn't provide any benefit because in the end, it would become what we are trying to avoid, which is the traditional financial system to which we are linked at the moment.

They have their pros and cons. Centralization is stability, confidence, it is necessary to ensure that crypto can be freely used in everyday life. Decentralization helps us to receive income from changes in the exchange rate, allows us to manage our own funds without any intermediaries. I'm more inclined to decentralize.

I think that btc is a decentralized coin but it will be controlled by the government later. I give preference to confidentiality which I can get thanks to btc at the moment that's why i like it so much