Topic: DECENTRALIZED OR CENTRALIZED? - page 2. (Read 3906 times)

During my first investment, I initially thought crypto as decentralized.  So what I thought was it's not governed by anyone or anything.  But as the months passed, i've read a lot of studies that says crypto is centralized. Is it good or bad??

I prefer the decentralized system now, because that is the main identity of a crypto currency, bitcoin will never be centralized, even Satosi Nakamoto cannot change the system

Exactly. That's what governments want all along. If they succeed in making Bitcoin a centralized coin, then they'll be able to shut it down with ease. However, I believe that's not going to happen anytime soon, since Bitcoin is growing every step of the way in usage, adoption, and user support. The more hashrate and nodes become available on the BTC network, the better, as the cryptocurrency would become stronger and unstoppable like never before.

Centralization brings us back to the current corrupt financial system, Bitcoin was intended to overcome in the first place. By eliminating the middleman, Blockchain technology could fulfill its purpose as it provides security, transparency, and immutability unlike any other system known to date. Therefore, if Bitcoin remains a decentralized cryptocurrency, then it'll become highly successful for many years to come. Just my thoughts

if bitcoin gets centralized than what is the actual purpose of cryptocurrency it is useless if it gets centralized.

Bitcoin is a Decentralized forum. And this is why bitcoin has become such a successful currency. If Bitcoin allowed the governments to control. So this would be the biggest loss for Bitcoin. Because of this, Bitcoin does not want to be controlled by any country.

Decentralizing is your thing, for that this technological and human revolution. We all know that banks and governments fear decentralization, not all. But for some reason it will be, right?

If there are some people who control Bitcoin then he will become a rich person who can arrange good prices in the future and have them all.

Who are the people who want cryptocurrency centralized other than the government that want to have control over it at all cost? Bitcoin is centralized and it will always remain that way with all the benefits that it offers. Any centralized cryptocurrency has lost its purpose.

To me, I still like Bitcoin decentralization. If it is centralized, what is the difference between Bank and crypto? Just think about bitcoin decentralization and anonymity, i support decentralization.

Exactly. There would be no purpose to use Bitcoin if it's centralized. A centralized system is prone to extreme manipulation from governments, and other entities. For example, EOS' Block Producer have been able to freeze accounts and restrict some users access to the "blockchain" because the platform itself is extremely centralized. Because of this, cryptocurrencies such as Ripple (XRP) and EOS are considered by many individuals as another banking system.

On the other hand, Bitcoin has been able to obtain success for quite some time because it has retained decentralization (although the mining process has become more centralized over time due to the creation of mining pools). If by any way, Bitcoin becomes centralized, then it'll be doomed as people would look for other alternatives which are decentralized. Compared with other cryptocurrencies in existence, Bitcoin may not be the most decentralized option nowadays. An altcoin known as Ravencoin is ASIC-Resistant with decentralization in mind. With this, the cryptocurrency could perform at a higher level of decentralization than Bitcoin, since no single entity or company is in-charge of the mining process. In Ravencoin, you only mine with GPUs which is a far more accessible option than Bitcoin's ASIC miners nowadays.

Another cryptocurrency known as Magi, is also more decentralized than Bitcoin, since it has adopted a unique PoW algorithm known as M7M which focuses on small miners rather than big miners with a lot of hashrate. This allows small miners to easily secure the Magi blockchain, as the higher the hashrate on the network, the lower the block reward will be. Being a hybrid PoW/PoS cryptocurrency, Magi balances between mining and staking to obtain a greater degree of decentralization than most cryptocurrencies we know and love today.

Nonetheless, Bitcoin is still decentralized but it could've been better if somehow mining pools would become disincentivized. That way, full decentralization could be ensured as small miners (or the average Joe) would be able to participate in the consensus and security of the Bitcoin blockchain. However, that's up to the developers and the community to decide whenever it's best for Bitcoin or not. Just my thoughts

I am very happy if bitcoin was made decentralized as it is now. This system allows me to control all my crypto currency assets without intervention from various parties. Also with this system, I have proven that I can get a very large profit in accordance with my expectations and beyond my presumption. Of course this system makes me more motivated to actively play in crypto currencies again to get greater profits and myself as the controller.

I myself prefer if this bitcoin has a centralized system. I have not been able to withstand the very volatile price of bitcoin at the moment. If this bitcoin is made with a centralized system, bitcoin will be easier to control and of course the price of bitcoin will stabilize. If bitcoin continues to depend on demand and supply, I am very afraid when there will eventually be an overlapping imbalance that makes this bitcoin even more abandoned. That is a bit of my idea.

many people are want bitcoin should be a centralised but it will not because if bitcoin be a centralised then there is no difference between note currency and bitcoins.  

Decentralized means no one controls it even central bank cannot control it because its run by its users that composed bitcoin if it will become centralized then theres no purposed using it what we need is proper regulation of the government on how we can fully utilised it legally.

I think Centralized system will be a big disadvantage to bitcoin and cryptocurrencies at large as the price will be manipulated easily all like Decentralized system where no one has the power to control or manipulate it price. Bitcoin transaction can be done in any country now but I think it may be affected if opperating in a centralized system .

Centralization about unfair distribution of worth where those in control can manipulate and draw much of it to their side. Bitcoin is controlled by users and not any centralized authoritative body, hence it ensures a fair share where users have full control over their own transactions and money.

Big corporations are also being used. When it comes to funds, it is the goal of every business to seek security, as well as efficiency, two distinct aspects in a decentralized market rather than a centralized market but the government receives More taxes and control then we have limited access to crypto that needs to exist as the government wants.

Btc is the decentralized coin which is why it is the most popular one but the government doesn't like this fact much. I think that it is better to make it centralized with time and government will accept it

I like the idea of decentralization more. But if you use the blockchain, then you don’t have to be a decentralized organization. You can simply inject a distributed restaurant into your organization’s work.