Topic: DECENTRALIZED OR CENTRALIZED? - page 3. (Read 3920 times)

cryptocurrencies in the future will also compete with each other. the main competition will be at the level of centralized cryptocurrency and decentralized.

There's no doubt that cryptocurrency will be integrated within every aspects of the world in the future. If Bitcoin and other cryptocurrencies prove to be as decentralized as possible for the masses, then they'll become successful and highly admired by people in the mainstream world. However, Bitcoin is much more centralized than what it was in its beginnings. Big companies like Bitmain, have taken the opportunity to produce ASIC miners which contribute to Bitcoin's security, but largely affects its decentralization. The reasons for this are obvious, since Bitmain has the most dominance in ASIC hardware production and network hashrate.

Within Bitcoin's early days, it was possible to mine with CPUs and even GPUs. It was easier for anyone to get in, greatly contributing towards the decentralization of the Bitcoin blockchain. Given that now ASIC miners are dominated by Bitmain, it's hard to be able to acquire an ASIC miner for yourself and compete with other miners worldwide with greater capital than you. Which in effect, makes mining only viable to big miners (like Bitmain) while leaving the little guy (average Joe) out of the process.

Therefore, Bitcoin's decentralization may not last for long unless further action is done by devs and the community to put an end to centralized mining pools. Just my opinion

I don't think we can change the nature of decentralized bitcoin. and I think bitcoin will be better if it remains decentralized. maybe what some people want is a regulation on bitcoin. if a government can make regulations for bitcoin then this can attract investors. because they feel protected and this investment has also been approved by the government.
if bitcoin becomes centralized, this will cause bitcoin to become the same currency as fiat and one day bitcoin will also experience inflation. so I prefer bitcoin to be decentralized.

We all know this that bitcoin is a decentralised crypto currency and this is all because there is no such proper authentic regulating body over the bitcoin who could keep eye over all its activities and specifically the illegal one like the major issue with the regulation of bitcoin is because of its lack of regulation and thus leading to illegal use like in selling drugs, explosives, money laundering etc and the most importantly the terrorism and because of which almost every country is in against of legalisation of bitcoin and the solution to this problem is the government of each nation keep eye over all its activities.

im afraid if bitcoin become centralized, it will be profiting for some parties only. Bitcoin should be used by everyone in the world because its decentralized.
My perspective is cryptocurrency should remain decentralized so there is no one can control the cryptocurrency.

I think that in a few years Bitcoin will take a decent position in the global financial system, and I am sure that in 10-20 years all financial settlements in the world will occur using cryptocurrency.

It is the decentralized nature of Bitcoin that attracted people to join the crypto community and I think making it centralized will only drive away a lot of people who have embraced Bitcoin.

Bitcoin is Decentralized and that is one characteristics of bitcoin that caught the attentions of an investors for me if one crypto currency is not decentralized it will not succeed in the crypto market.

why not apply a hybrid system by combining decentralization with centralization simultaneously?
that is, bitcoin is regulated democratically using voting rights by BTC Holders with the aim of realizing new policies in collaboration between communities

I think that it is better to use decentralized coins like btc. however, there are some experts who think that it is not fully decentralized. To my mind, it is better for the government when the currency is centralized

Ever I will go for Decentralized exchanges.
Just that centralized exchanges is meant to make fast sale of coins whenever listed in any exchanges though it isn't the right call if truly we're behind and not for the fall of the coin.

I don't think decentralized offer more freedom than centralized do. Centralize of bitcoin can even give more freedom and safety than it is not control by any central authority now.

centralization will lead to issues of inflation and transaction responsiveness, then there will be no sense at all in cryptocurrencies

in my opinion, the bitcoin is decentralized because it makes transmissions anonymously

We need decentralized exchanges and not centralized versions, how many times have we heard of an exchange getting hacked and most of the time it is suspected this was an internal job, so it is better that we have decentralized exchanges in which you are always in control of your coins and there is not risk of the exchange freezing your coins just because you are trading too much.

if I have to choose, then I prefer to choose bitcoin like this
because it's also what makes bitcoin so phenomenal,
if bitcoin is centralized what is the difference between altcoins and other tokens? the price is most likely to be manipulated

Bitcoin is totally decentralized for what is left of our lives by the simple fact that it was created like this and for the moment nobody has changed the code. That means that anonymous too, I do not know if it is regularized, this will change or there will be consequences.

The decentralized nature of cryptocurrency is one of its interesting attributes. And also part of its down turns. If exchanges adopt centralization it will slowly make it way into the whole sectors of cryptocurrency at large.

Ofcourse we have needed decentralization and now we have with with the bitcoin and cryptocurrency. Ofcourse we have to thank to blockchain system too. When you use decentralize in a business the price, transportation and insurancing cost would go down, and we can get everything faster. If you understand and examine the system in right way you can have success easily in every where in the world. So the system brought us fairplay in business..

Exactly. There's no doubt that both centralized and decentralized assets will co-exist in the future. Sometimes, a decentralized system cannot fulfill certain tasks of a centralized one. The same thing happens vice versa. Which means that Bitcoin and other cryptocurrencies could exist as decentralized assets in the long term, while Fiat currencies would still be the norm by then. The most important thing is for cryptocurrencies to establish a distinction against centralized currencies backed by governments. Otherwise, they'll become nothing more than another centralized financial institution like Banks.

As for Bitcoin, it's hoped that it could become much more decentralized in the future. With its current state, Bitcoin is not 100% decentralized. This is mainly because its PoW algorithm is largely dominated by a single ASIC hardware manufacturer known as Bitmain. If there's a change in PoW, or simply preventing mining pools from emerging, then Bitcoin could be more decentralized than usual. For it to be that way, it's hard to tell as no one knows what will happen in the future. Therefore, Bitcoin being either decentralized or centralized in the future is like a Russian Roulette. If developers and the community work together to prevent centralization, then Bitcoin will remain that way. But if they don't, then Bitcoin would head into the likes of banks, governments, and businesses worldwide. Just my thoughts