Topic: DECENTRALIZED OR CENTRALIZED? - page 18. (Read 3920 times)

if you think that way, Crypto certainly will not get worse even though this is not properly decentralized, and there may be some phases in which crypto has a real impact on the world, because the technology carried there is so obvious and probably there will be no comparison to the technology blockchan have

bitcoin is structured around decentralized system but it can be make centralized by third party and that is exactly what we are witnessing today. many exchange platform have succeded in making trading of crypto to be centralized as traders are not in control of the asset on their system although there are still decentralised exchange but. the same thing applies to other ecosystem and merchant that accepting bitcoin or make use of bitcoin as they can have control over customers account.

the success recorded by the blockchain technology today in the globe is as a result of the features that was embeded in the design and one of which is the decentralization. It makes the technology void of any kind of influence bot from the government and other agencies. if it is removed then it is no longer what it was designed for.

You have your own point too.For me,i prefer to remain it decentralized because it will give us bigger chances to become millionaires in the future if the price will totally hit its highest peak.Of course we cannot deny the fact that most of us here are gaining huge profits in bitcoin so it will be a great advantage for us  to stay it decentralized.But if bitcoin will be centralized in the future,i'm not so sure of its price if it will stay on top,maybe it will just reach below $10k.

there are now so many developing decentralization, and in my opinion the best is centralization like bitcoin. if centralization all get connected easily.

Decentralized so that there won't be only one to control everything, and if that happens I don't think the economy would go and flow so well, so I really think that decentralized is better. Centralized on tbe other hand has advantages but if it cannot br controlled very well then I think that the crypto would go bad.

A decentralized system is a very good thing, I think so.  It is a more modern approach to the development of any sphere of our existence. When there are several control centers, it is much better because Monopoly is the last century.

In my own speculations, bitcoi n is much better if it is being approved or legalized on bitcoin as well being decentralized, because if bitcoin will be centralized there is a chance that bitcoin's price will become stable since it is held by some people like the government but if bitcoin will stay as decentralized then bitcoin can change its price and retain of being volatile that makes bitcoin and the other cryptocurrwncy to be unique other than fiat currency.

How to control the miners in other coins that are also too influential? In decentralization the criminals are free so this is also a problem. Centralization is much worse though as the top as always will rule and control everything according to their means.

No, centralized means there are some peoples or companies that can control or monopolized or regulated.
the best thing about cryptocurrency is decentralized, so it will give us freedom to control our asset

Completely agree with you, mate. Decentralization is the way to go since it gives the power back to the people instead of corporations, governments, or other centralized entities. The level of success that Bitcoin has experienced today, is due to its decentralized nature. However, if it becomes centralized then investors might flee into another cryptocurrency which is decentralized as Bitcoin becomes extremely vulnerable to 51% attacks and external manipulations.

Eventually, I believe that most centralized systems might fail in the future, as decentralized systems would provide unparalleled security, reliability and other benefits which are too hard to ignore in the mainstream world. Ripple or should I say XRP, is centralized and it could fail anytime, considering that it relies on banks and governments to succeed. The moment its internal company decides to freeze assets on the XRP ledger, or governments decide to take over the network, then the whole system will collapse.

On the other hand, that's not the case with decentralized cryptos like Bitcoin and Ethereum, where nodes are widely distributed across the world, and there's a lot of hashrate backing them. For governments or other entities to succeed in destroying such decentralized systems, they would need to spend a lot of money to perform a 51% attack, block BTC nodes, among others to disrupt the network. However, as the number of nodes and miners grow on the network, the cryptocurrency becomes stronger and impenetrable against external attacks. Therefore, decentralized cryptos like Bitcoin and Ethereum will win as they become unstoppable over time. Just my opinion

It is important that BTC stays decentralized so that not one organization or group can control it. I do think that some exchanges need to be centralized so there is consistency and reliability.

In a decentralized digital asset no government can interferes with the system thus making the system uncontrollable by any authorities but it can only be regulated or outrightly banned by the government.
I prefers a decentralized form of digital assets to a centralized system where the authorities will take control of the asset there is likelihood of manipulation by unfaithful and corruptible powers behind  those system

If so I prefer a decentralized system rather than a system of senralization, because the decentralized system of privileged use remains individual and no one can force it. with this system we become more flexible in using it

The greatest features or importantance about bitcoin is that is been decentralized.
Change this now will really cause some parfectic lose in bitcoin interest and price which can really be end of this wonderful decentralized digital currency bitcoin

Before you want bitcoin to be centralized, you should first know what decentralization and centralization are.

Centralization is the existence of a single ruler who is central to power, establishing taxes and laws. the system was first established by a state based on the royal system (feudalism).

Decentralization is a system in which overall decision-making is left to the users of the system and the absence of any individual who can impose his will on other individuals without the consent of the majority of system users.

The decentralization system is applied because it is now widely used democratic system in a country that is supported by It high technology. then if we want the decentralization system replaced by centralization then the application of the system back to the days of the kingdom and without any supportive technology.

I think the economic system will be difficult to change. we are in a country that has rules made by the government. and the government controls everything (centralization) including the financial and economic system. we can not turn into decentralization. because it will eliminate the role of government in a country?

bitcoin's most important features is its decentralized structure. bitcoin has no central control: no central repository of information, no central management, and, crucially, no central point of failure. and yet, most of the actual services and businesses built within the bitcoin ecosystem are centralized. they are run by specific people, in specific locations, with specific computer systems, and they are susceptible to specific legal entanglements.

But bitcoin is still mine-able if you have necessary amount of funds to invest, I believe bitcoin mining is getting harder each day as there are already many coins mined by various people already. Out of 21 million bitcoin we have already accessed 17 million and if mining is made easier then everyone will easily generate new bitcoin which will disturb its financial system.

This point cannot be related to centralization of the system and the definition of decentralized system is still supported by bitcoin. Hence, there is no argument if its decentralized or not.

initially an object that has value is not controlled by a circle or group, but the timing of making all the changes because a system that regulates its development to be more evenly, as well as bitcoin, does not rule out that one day there is a large group that controls bitcoin with the amount many and they can control the market price, but none of the groups want to lose money.