all there are sides of weakness and goodness, if bitcoin becomes centralized. then it will function like fiat. and all controls are in the institutions that govern bitcoin. so users still have limitations in using. if bitcoin remains on its decentralization it will not be stable because the value of bitcoin is determined by the user itself. and there is no insurance for loss or theft. for me personally, I still choose bitcoin in its decentralization.
That's certainly true, mate. Both centralized and decentralized models have their pros and cons. However, for the longevity of the Bitcoin blockchain, it's best to approach decentralization as much as possible. This would eliminate the need for middleman or third-party intervention, making the cryptocurrency "free-for-all". Because if Bitcoin becomes centralized, then it would be nothing more than Ripple (XRP) or another financial institution (Bank). People want something where they could easily control, without the need for anyone else to interfere. Just like Cash, Bitcoin would become practical for the mainstream world.
However, we may not know for certainty if Bitcoin will remain decentralized as there are other interests from various companies within the blockchain industry looking to make a quick buck and expand their business. Bitmain is a good example of such company, where it has the most dominance in Bitcoin's hashrate. If at any point in time, it desires to disrupt the Bitcoin blockchain, it could easily do so effectively performing a 51% attack. This would make Bitcoin centralized, since a single company would have the power to determine the future of the cryptocurrency, instead of the rest of the people as a community. It's unfortunate, but the reality as Bitcoin becomes closer to centralization than we've ever imagined.
Most people in crypto land are not aware of this, and are simply looking for quick profit, but when the harm done to the Bitcoin blockchain is too big, then it'll be late to remedy it. The whitepaper states: "One CPU, One Vote", but those days are long gone. Now, Bitcoin mining is only accessible for wealthy people and companies who're able to afford expensive mining equipment and stay ahead in the competition. Unless developers put an end to mining pools for the sake of decentralization, Bitcoin would become more centralized in the mining process each day.
Despite this, Bitcoin is still somewhat decentralized as anyone can transact and run a node at will. However, it'll be up to question how Bitcoin will become within a couple of years from now. Just my thoughts