There is nobody who understands bitcoin and wants it to be centralized. Who are these "numerous citizens" who want it to be centralized. A trusted third party is nowhere involved when you want to own bitcoin.
Your BTC is only yours for the safekeeping. Its value will not be judged or allotted by any third party. The only people who are okay with centralization are those who think that the transaction rate has to be increased at the cost of decentralization. That is why you have ideas of masternodes, PoS, Increased blocksize size etc. etc.
As a community we shouldn't be making the dentralization trade-off. It dilutes the idea completely for short term gains. The moment you create a central point, there is a possibility that it'll be co-opted someday or the other.
Topic: DECENTRALIZED OR CENTRALIZED? - page 21. (Read 3920 times)
Many individuals agree and have the same opinion about bitcoin as decentralized digital asset, a system without a central bank or single administrator is more favourable.
But somehow, numerous citizens want also the bitcoin to be centralized, because others believes it can remove barricades and walls to allow more easily reached and democratized financial and economic infrastructure.
For you what is your own perspective regarding this matter?
of course i choose decentralized than centralized but i go where is better for the crypto's for the whole if which one of them become legal in the world the virtual currency use international currency in the future as legit to use anythings needs for the daily needs use as payment for anywhere in this world.
I don't see any point in making Bitcoin centralised. The whole advantage of using cryptocurrencies is that most of them don't have any central authority. Ripple is a centralised cryptocurrency which can process far more transaction, but people who are in charge of Ripple, can freeze accounts and block certain transactions. Also, you have to pay 20 XRP to create a wallet which is ridiculous. That's why we should keep Bitcoin decentralised and don't surrender to the governments who are trying to get rid of Bitcoin. They are simply afraid of losing control of money.
I have been more comfortable with the decentralized system that bitcoin has. Everything I've done with bitcoin without being interfered with by the government, and I think if bitcoin is interfered with the government I will brag the government too greedily to regulate bitcoin.
Most likely those who want bitcoin to turn into a centralized system are those who do not want to take risks and want more profit from bitcoin. Without the bitcoin government it will become and make every country's economy change in its own way.
Most likely those who want bitcoin to turn into a centralized system are those who do not want to take risks and want more profit from bitcoin. Without the bitcoin government it will become and make every country's economy change in its own way.
Whether bitcoin or other coins, I think decentralization is the most important, and one of the important reasons for the value of bitcoin is because of its decentralization, which can be a greater decentralization of the project.
I kind of like it being decentralize because most decentralized exchanges do require the creation of an account before you can begin trading. However, unlike more centralized exchanges such as Coinbase which needs to confirm users' identities via various forms of official government ID, most decentralized exchanges allow anyone to create an account under any name they choose with very little or no approval process.
I prefer bitcoin to be decentralised, it is better to have an investment where the price is based purely on the demand and supply, with decentralised the price could really go unlimited, we already got so many centralized investment, so if someone want a centralised investment they can go for fiat investment
after a time if btc aims to become the single crytpo and accepted worldwide by people it would need a central physical place where people can see something and give feedback
Many individuals agree and have the same opinion about bitcoin as decentralized digital asset, a system without a central bank or single administrator is more favourable.
But somehow, numerous citizens want also the bitcoin to be centralized, because others believes it can remove barricades and walls to allow more easily reached and democratized financial and economic infrastructure.
For you what is your own perspective regarding this matter?
But somehow, numerous citizens want also the bitcoin to be centralized, because others believes it can remove barricades and walls to allow more easily reached and democratized financial and economic infrastructure.
Barricades like what? Bitcoin is good as it is. Centralization would fuck bitcoin on a whole new level. You would have a leader who orders/gets things done to bitcoin itself,there would be more regulation,and there would be direct taxes,for example taxes would be on your holdings and not on your capital gains. Come on man,think it through,are you really that stupid to believe in anything that people would say?
They should understand more deeply about the decentralized system, the bitcoin does not have no manager, but it is the nature of bitcoin like this, there is a blockchain that holds a transaction. If bitcoin wants to have a manager it's not possible unless we make our own digital currency (for example, Ripple)
I think Bitcoin is good as it is, there is no reason to change it and make it centralized.
All Bitcoin users want it to remain decentralized because they hate banks policies and seeing their money being controlled by someone else.
Besides, what makes Bitcoin unique and special is that it is decentralized and every one can have his own wallet.
All Bitcoin users want it to remain decentralized because they hate banks policies and seeing their money being controlled by someone else.
Besides, what makes Bitcoin unique and special is that it is decentralized and every one can have his own wallet.
The thing is that at first, we're going to have to be centralized, it is the only thing which can bring people to Bitcoin because they know that they are protected enough as certain companies are insured and so on and so forth. Centralization is needed at first, but once the problems are displayed with centralization (such as susceptibility to being hacked, corruption, downtime, etc) then people are going to develop p2p (decentralized) platforms.
We will end up with decentralization across most things crypto. Though who knows when it comes.
We will end up with decentralization across most things crypto. Though who knows when it comes.
day by day btc becomes more centralized as there are just some mining companies that want to become the monopol in mining or claim that they own some true companies which will make it centralized one way or another.
because it is decentralized bitcoin, it stimulates us in the development of projects
Bitcoin will lose it uniqueness if it allows it to be centralized and controlled by government. It is superior currency due to its nature of decentralize and anonymous transaction and I don't think that should be altered.
Bitcoin was created as a decentralized cryptocurrency and that's what it should be. But with the scams, the authorities have an excuse to regulate cryptocurrencies. They also manipulate the feelings of the mainstream with the idea that with regulations the customers would be protected. With the hack of some exchanges, authorities are demanding KYC and AML procedures. But the main objective is to tax cryptocurrencies and that makes them centralized cryptocurrencies instead of decentralized.
bitcoin must be decentralized if it change into a centralized currency it can be worse and crush the idea of the freedom of transaction and that can make us bound with the resctrication again,
Ripple (XRP) is proof that cryptocurrency can be centralized as well. But I can't imagine Bitcoin to be centralized. This will never happen.
I believe that it's the choice based on the abilities of the user. Decentralization is all about taking own responsibility and enjoying the freedom whereas, in decentralization, we let someone take responsibilities on our behalf and there is no freedom, in that case, it's just illusion of freedom. Even in the centralized system, the end user has to suffer from the mistakes of centralized authorities so it doesn't make any sense to go with that way just because we are using it since many years.
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