DECENTRALIZED OR CENTRALIZED? - page 6.

Blackwhite69

sr. member

Activity: 560

Merit: 250

Quote from: jcarlo on October 15, 2018, 08:06:41 PM

Quote from: Nelars on April 30, 2018, 05:31:47 PM

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?

Decentralized system that used by bitcoin makes government can not touch it. Its better for bitcoin using decentralized system because when it became centralized, there is nothing different with digital money

Something that has its own control of what we have becomes a person that will later be a lot of people. with that we can have money not suspected and get tax fees every month.

thenameisjay

full member

Activity: 462

Merit: 100

Quote from: Nelars on April 30, 2018, 05:31:47 PM

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?

Having bitcoins be centralized is just like using fiat all over again. So why use bitcoins if we have fiat in the market anyway? Being centralized disables and cancels the features of bitcoins. No one will ever use bitcoins anymore once this becomes centralized.

jcarlo

member

Activity: 798

Merit: 10

Quote from: Nelars on April 30, 2018, 05:31:47 PM

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?

Decentralized system that used by bitcoin makes government can not touch it. Its better for bitcoin using decentralized system because when it became centralized, there is nothing different with digital money

Haliburton

full member

Activity: 502

Merit: 118

Liberated Forever. Domesticated Never.

Quote from: Ruffian1314 on October 12, 2018, 12:43:00 AM

I think it is better to be decentralized because that is the best thing about bitcoin. We only need regulations and approval for governments to improve the trust rating of cryptocurrency but the fact is, most of the governments in every country wants it to become centralized so they can do something about it.

That's the best feature Bitcoin has. If it loses decentralization, then I'm afraid that it will become nothing more than a centralized financial institution backed by the likes of governments around the world (just like Banks). Many governments are desperately trying to make Bitcoin centralized just so they could shut it down for good. But, due to the distributed nature of Bitcoin, it's quite impossible to achieve.

This could change though, if Bitcoin becomes centralized in every way possible. The mining sector is quite centralized as Bitmain dominates it. Mining pools have had a bad effect over Bitcoin's decentralization, leading the coin closer to centralization each day. With this, Bitcoin could become vulnerable to a 51% attack, which is pretty bad for the longevity of the cryptocurrency.

Other than that, Bitcoin would've been a fully decentralized cryptocurrency free from the likes of banks and governments around the world. Sure, they would want to enforce KYC/AML regulations to prevent money laundering, but there’s more to this as their main purpose is to destroy Bitcoin for good. Wink

eashikde

jr. member

Activity: 266

Merit: 1

Of course, the decentralized system has a lot of advantages, but many of their principles of operation are borrowed from the centralized one. High security, data integrity, speed of operations and much more.

babykajima

newbie

Activity: 21

Merit: 0

The nature of bitcoin is decentralized. It is an alternative, there isn't intermediary or third party because of "unreliable" environmental prejudice if there is an appearance of intermediaries. These exchanges operate in a horizontal manner. They never store assets under trust services, and conduct transactions purely based on intelligent contracts and atomic swaps. At present, the number of decentralized trading floors is more and more likely to challenge the concentration floors in the future.

xvacator

jr. member

Activity: 340

Merit: 4

Quote from: trumplove on September 29, 2018, 12:45:26 AM

I agree with bitcoin, but in the end, if bitcoin wants to be actively connected with government regulations, then centralization is an absolute possibility.

Or there is another analysis that says that they will still regard bitcoin as a neutral coin system without intervention, but not for altcoin because they have active CEOs who must comply with the economic policy system.

But how the government can control bitcoin? I think bitcoin will still decentralize and the government can only make the regulation and make the tax for bitcoin user. Maybe this will be applied to the cryptocurrency and not just for bitcoin only so the government can watch the cryptocurrency market and they can make another law to prevent something bad that might happen.

labenea

jr. member

Activity: 327

Merit: 1

The Standard Protocol - Solving Inflation

Quote from: Rashid555 on October 12, 2018, 01:04:49 AM

Bitcoin is Decentralized form of crypto currency and it is a free currency from any boundary or government and if we talk about other currencies they were fully controlled by central banks their demand and supply can be measured and the exchanges rate can be fixed with it. But it is good to have Decentralize currency to keep secret your wealth from others.

decentralization is good for welfare equality, but if all use this reference, then greed and even the new economic mafia will not be controlled by the government, on the other hand centralization will control all things including taxes, at least there is a price to be paid for this.

bitcoin continues to prioritize decentralization, and which has the opposite potential is altcoin, we need both to reflect balance, there will be many fiats that turn into altcoin centers in the future, and consider bitcoin as digital gold that cannot be monopolized by adaptive policies.

oginiimaoyani

sr. member

Activity: 574

Merit: 250

Decentralized nature of bitcoin is were bitcoin super seeds others thereby making it special it has been useful to the users,it has been made so and no way of centralizing it.

Vladislav2306

jr. member

Activity: 294

Merit: 1

I think bitcoin will never be the centralized coin. We already have such coin - Ripple. XRP is centralized and banks can use it for their purposes.

Rashid555

full member

Activity: 350

Merit: 100

Bitcoin is Decentralized form of crypto currency and it is a free currency from any boundary or government and if we talk about other currencies they were fully controlled by central banks their demand and supply can be measured and the exchanges rate can be fixed with it. But it is good to have Decentralize currency to keep secret your wealth from others.

Ruffian1314

copper member

Activity: 322

Merit: 0

I think it is better to be decentralized because that is the best thing about bitcoin. We only need regulations and approval for governments to improve the trust rating of cryptocurrency but the fact is, most of the governments in every country wants it to become centralized so they can do something about it.

MaximusJune

newbie

Activity: 16

Merit: 0

In my opinion, I prefer decentralized than centrallized as many reason. For example, if it is decentralized, when one part is attacked but the other parties operate normaly instead of all system will delay when we use centralized.

JerryLucky

newbie

Activity: 22

Merit: 0

Quote from: tabas on April 30, 2018, 06:10:24 PM

We only need regulations so it can gather more trust rating and approval from the government that can possibly add more investors.

Quote from: Nelars on April 30, 2018, 05:31:47 PM

numerous citizens want also the bitcoin to be centralized

They want it but the fact that they can't do something about it anymore. Bitcoin is completely decentralized for the rest of our lives.

For sure, we can not do anything to make bitcoin be centralized. I think if bitcoin is centralized, it will soon destroyed by the government

stiffbud

hero member

Activity: 980

Merit: 500

Virtual cryptocurrency are mainly decentralised in nature where as fiat national currency are centralised in nature. Decentralised means they are not under control of any kind of government and authority and centralised currency are in control of government and any kind authority. Decentralised currency are highly unstable because they are not under any kind of regulation. Where as centralised currency are more stable and regulated currency. Decentralised currency are mainly tax free where centralised currency are exact opposite of that.

Haliburton

full member

Activity: 502

Merit: 118

Liberated Forever. Domesticated Never.

Quote from: BennyK on October 03, 2018, 09:30:50 PM

Of course, many users of Bitcoin want it to be centralized because the governments depicts a good picture of Bitcoin under centralization. However, there is a hidden agenda to the reason why the governments are fighting for Bitcoin to be centralized. The governments are just afraid of the power decentralization brings to the people.

True. That's governments' evil plan to make Bitcoin centralized and cripple its growth with their unfair regulations. Sure, it's necessary to protect investor's funds by applying regulations across many cryptocurrency exchanges, but too much regulations would be bad for the overall crypto ecosystem. With a centralized version of Bitcoin, banks and governments could easily shut it down or disrupt its functionality as there would be a single point of failure. But, a decentralized version of Bitcoin will make it nearly impossible for it to shut down as nodes are distributed within many areas of the world.

Thus, the more Bitcoin grows in mining hashrate, and node distribution, the harder it will become for governments to stop it. While Bitcoin is still decentralized these days, there is a certain level of centralization within the mining process. If that is solved, then Bitcoin would become more decentralized than ever, becoming stronger and resilient against attacks or external control. All in all, most people would prefer Bitcoin to remain decentralized for many obvious reasons. Because, if it turns all the way around, then it would be nothing but another "banking system" in the digital realm. Grin

Phoenixhall

newbie

Activity: 19

Merit: 0

Decentralization is very helpful to the community, no one owns us. So bitcoin decomposition is the factor why most people prefer to deal with this because they spend less time to free their finances. First of all, it's a good thing that not only few will be helped by the project or that will be created. And finally, commercial products will be popular as Western products in Asia. The basic principle of bitcoin is anonymous and decentralized, empowering bitcoin to empower the poor and make money in the hands of the people. Because decentralized bitcoins are the main reason the government fights with it. Concentrated money is being controlled by the central banks of various governments that make them government agents to carry out government procurement. BTC is designed to be decentralized. No third party to confirm transaction. However, when exchanging a penny form, 3rd party services may be involved. The idea behind the bitcoin is: "Be your own bank." I will go for decentralization, there are many advantages in a decentralized system such as avoiding price manipulation, risking transactions any time you choose.

Crafts12

full member

Activity: 405

Merit: 105

Quote from: Nelars on April 30, 2018, 05:31:47 PM

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?

Bitcoin will forever be decentralized because in the first place it is and that is the best quality and feature of bitcoin so I think it will not switch to the centralized. Also it is best for bitcoin tp be decentralized for a reason that it is the feature that most of the people in here are love about. The only centralized is the exchanges.

BennyK

member

Activity: 672

Merit: 14

Quote from: Nelars on April 30, 2018, 05:31:47 PM

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, many users of Bitcoin want it to be centralized because the governments depicts a good picture of Bitcoin under centralization. However, there is a hidden agenda to the reason why the governments are fighting for Bitcoin to be centralized. The governments are just afraid of the power decentralization brings to the people.

Kasliono

member

Activity: 266

Merit: 10

Quote from: Nelars on April 30, 2018, 05:31:47 PM

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?

In my opinion, The most important reason why bitcoin has been made is being a decentralised structure. On the other hand, when it comes to bitcoin exchanges, it will become centralised which is means the money, the result of exchanges is the one being centralised. It is not the bitcoin itself being centralised. But it is only for some markets which is a centralized market. Because we also already know that there is some markets which is decentralized.

Topic: DECENTRALIZED OR CENTRALIZED? - page 6. (Read 3850 times)