DECENTRALIZED OR CENTRALIZED? - page 9.

Haliburton

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Liberated Forever. Domesticated Never.

Quote from: jak3 on August 02, 2018, 03:00:47 PM

I am the one in the decentralized team. I completely hate banks and regulation systems. Of course I respect the rules and regulations and all the management they have done but I am saying that it is not enough in today's generation. Four and more people are transacting daily all around the world and we need a better Technology which can handle millions of people without any mistake which Bitcoin can and it is much more secure.

I concur with you, my friend. The world needs freedom, and it's been quite under the power of governments and central banks. It's time for decentralized cryptocurrencies like Bitcoin and Ethereum to blossom, as they take the world by storm. Nobody wants to transact in a centralized system, where corrupt banks, governments, or even corporations can easily manipulate it. People’s funds would be at risk there, which is why they prefer decentralized cryptocurrencies to avoid such situations.

With Bitcoin, anyone regardless of their age or race, can easily participate in a global ledger empowered by thousands of individuals around the world. Therefore, it is much better for Bitcoin to stay as decentralized as possible, than turning itself into another centralized banking system controllable by corrupt governments. Wink

BitcoinGuru123

newbie

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Blockchain technology is used to create distributed ledger technology. Bitcoin is decentralized because it it integrated on the Blockchain technology. Bitcoin will forever be decentralized.

qiman

hero member

Activity: 1036

Merit: 504

I like the way a decentralized currency works but if there is a good centralized entity with a very big Team and a trustworthy project then I do not mind a centralized coin entity. I prefer though that the coins or tokens be in as many different wallets and hands as possible as the more people that own a currency, the more decentralized it feels, as opposed to only a handful of owners owning it if you understand here my point of view.

[email protected]

newbie

Activity: 28

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Yes decentralized system is better than centralized on which everyone have a chance to send or receive money without the permission of the others and also it is become transparent on which can avoid any malicious transaction than centralized system. Bitcoins is more safe in decentralized because every transaction there is no middlemen

jak3

legendary

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I am the one in the decentralized team. I completely hate banks and regulation systems. Of course I respect the rules and regulations and all the management they have done but I am saying that it is not enough in today's generation. Four and more people are transacting daily all around the world and we need a better Technology which can handle millions of people without any mistake which Bitcoin can and it is much more secure.

iknowitsme

newbie

Activity: 73

Merit: 0

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

But somehow, numerous citizens want also the bitcoin to be centralized,

How can it be even possible? I mean, Bitcoin is decentralized by it's very nature. If it's centralized it is completely different tech, and it's not real blockchain. If they want "centralized Bitcoin" why don't they use Paypal? Grin

bitvelk

member

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It makes absolutely no sense. If bitcoin is centralized, it will simply stop being bitcoin.

Glutius

full member

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If bitcoin is centralized, it will simply lose its unique feature. Bitcoin will not be much different from other currencies.

Haliburton

full member

Activity: 502

Merit: 118

Liberated Forever. Domesticated Never.

Quote from: ?? on ??

The most known and used feature of bitcoin is its decentralized market which is also the reason why the people have supported and used it since then so it would be really hard to convert and make it as an centralized coin. Bitcoin was mainly used by the people to avoid the taxes that is being thrown by the goverment to their purchases and transactions and also gives them anonimity but somehow abused by some and uses it in illegal ways instead. I think that the bitcoin itself cant really stand being centralized since the people have supported it because it allows them to make theirself hidden and it could also result to bitcoins downfall.

I know that centralization is bad for Bitcoin, but it seems to be heading that way, unfortunately. Considering the huge mining pool dominance in the network's hashrate, the upcoming Lightning Network, the established futures market, and more, are all signs that Bitcoin is heading towards being manipulated by the middleman. But, that was not the real purpose of Satoshi, since he/she/they wanted to create Bitcoin free from central control.

Since most people depend on centralized exchanges, and other centralized services, they're heading back to the middleman. A truly decentralized cryptocurrency would be only traded in decentralized exchanges, it's mining process would become accesible by an average person, and it would scale on-chain without the need to trust a third party (unlike the Lightning Network). Therefore, like it or not, good things come to an end, and I think that if Bitcoin started as a decentralized cryptocurrency, then it will end as a centralized one controlled by a few players (like Bitmain, Blockstream, etc). Sad

richkid3001

newbie

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Not all decentralized blockchain will be used a cryptocurrency. Decentralization is the future but we need mass adoption of decentralized blockchain cryptocurrency before one of them is accepted as a standard.

letzdodiz

newbie

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the most pivotal issue for decentralized innovation is the usage of the law. despite everything we haven't fugure it out how to make an innovative and successful resources/money to be securable with country law. the vast majority hesitant to contribute their cash in light of this issue. no country(or to the extent I know) protecting a crypto resource. be that as it may, the innovation and productivity is so good. what we can do is to hold up until government to make a move to help digital currency

richkid3001

newbie

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Those within the industry understand that one of Bitcoin's most important features and perhaps its true core innovation is its decentralized structure.

DoublerHunter

hero member

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Quote from: AlexAtom on July 26, 2018, 10:21:23 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?

Either centralized and decentralized, both of them have advantages and disadvantages as well.
cryptocurrency is a decentralized currency and asset as well, this is better to keep decentralized, because crypto is a consensus network.
i am personally dont want bitcoin to be centralized because it will change the value of bitcoin itself.

That is right that they have their advantages and disadvantages but for me, it is more solid or better if we will be in decentralized because it will give people a lot of freedom to adapt because it is the best way to live life with a decentralized system because it is not hard to live in decentralized rather than a centralized mode of system.

BennyK

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If Bitcoin becomes centralized and wins the bids of the governments, it will cease to offer numerous of its benefits we see now. The government through centralization will wish to get absolute control over the transactions of Bitcoin and impose higher transaction fees (tax inclusive) to every transaction made with Bitcoin. This will eventually lead to a slower transaction speed as the transaction will first have to pass through the various Blocks and also meet the approval of a third party.

joshuarose

newbie

Activity: 94

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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?

do not listen to people who want bitcoin centered,
bitcoin will remain decentralized, because the bitcoin system has been made decentralized and has been created by great people,
("satoshi nakamoto")

AlexAtom

member

Activity: 560

Merit: 10

YOUC - www.youengine.io

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?

Either centralized and decentralized, both of them have advantages and disadvantages as well.
cryptocurrency is a decentralized currency and asset as well, this is better to keep decentralized, because crypto is a consensus network.
i am personally dont want bitcoin to be centralized because it will change the value of bitcoin itself.

Tylev

full member

Activity: 854

Merit: 104

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 was conceived as a decentralized, uncontrolled crypto currency with open source code for its improvement. If you change its nature to a centralized one, it will be another bitcoin. This we can not be allowed. Even if he loses some of the popularity, vseravno it must be kept in its original form for history.

equal2detask123

newbie

Activity: 78

Merit: 0

To be honest, i think decentralized system is better. Because, it can give us more freedom and easiness regarding to our financial transactions.

Ezenwanyi

copper member

Activity: 336

Merit: 1

Bitcoin is a decentralized cryptocurrency as it does not have a central body ...like central bank , regulating its affairs.

chromosomes

full member

Activity: 294

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?

Being centralized would make bitcoin and other crypto more exclusive in the world but the regulations will surely change with it afterwards. I think bitcoin will be more better still if it is decentralized so that we can avoid any possible worse crisis to take place if ever it gets under the regulation of the government or other organizations.

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