Topic: Decentralized System Disadvantages - page 4. (Read 673 times)
Decentralized System's biggest Disadvantage is to allow some illegal transactions to continue in the dark corner, because Decentralized System excludes regulation, and we all know that anything that is out of regulation will be used by the bad guys.
it is worth mentioning that any system in this world will have both advantages and disadvantages at the same time. you will never find anything that is only positive and has no negative side.
when it comes to bitcoin and its decentralization, the advantages are dominant over disadvantages which is why it is a big deal.
when it comes to bitcoin and its decentralization, the advantages are dominant over disadvantages which is why it is a big deal.
A lack or regulation is good for some, but for business investors they need a legal framework in order to trade. Decentralisation also makes it hard to get help if there is no one controlling it
In economic terms, the disadvantage of a decentralized system is the increased transaction costs. See: https://en.wikipedia.org/wiki/Theory_of_the_firm and https://en.wikipedia.org/wiki/Ronald_Coase
For me decentralized systems are more expensive to implement and more energy-consuming.
Those are the major disadvantages.I don't think that forks/splits are a disadvantage.The people,that have different views about how the desentralized system should evolve and improve just have the freedom to leave.This is not a flaw.
Those are the major disadvantages.I don't think that forks/splits are a disadvantage.The people,that have different views about how the desentralized system should evolve and improve just have the freedom to leave.This is not a flaw.
The notion that chaos creates order is not always necessarily true, as seen in some recent forks which are shaded by some sort of politics, ending up in a massive shit-show that the community never asked for. At first, decentralization sprouts genuine and cool ideas, but the moment crypto rakes in a lot of money in the hands of the holders, it is then tainted with greed and politics with only profit in mind without even thinking of the community that might get affected.
I'm believe in anarchy in some way but not to the extent that chaos only breeds chaos.
I'm believe in anarchy in some way but not to the extent that chaos only breeds chaos.
another "disadvantage" which may not be a disadvantage forever is the fact that there are no laws about such systems so prosecuting criminal activities is harder. for example if you attack a website (like DDoSing a website) that would be an actual illegal act and you may face prison time. but if you attack a decentralized network like bitcoin's (which had lots of attacks in the past in different forms such as spam attack, DDoS attacks, FUD attacks,...) there is not YET any laws that can prevent these crimes.
for example if JP Morgan CEO went on TV and said Microsoft is a fraudulent company then Microsoft would sue their ass and most probably receive a couple of million dollars from them because of this attack compensating for the damages they caused to their brand and company. but when they did that to bitcoin there was nobody to sue them and they got away with it...
for example if JP Morgan CEO went on TV and said Microsoft is a fraudulent company then Microsoft would sue their ass and most probably receive a couple of million dollars from them because of this attack compensating for the damages they caused to their brand and company. but when they did that to bitcoin there was nobody to sue them and they got away with it...
Decentralization makes decision making more complex, because you have to get a majority of people to support a change, before it can be implemented. We saw this happening with all the previous forks and all the drama that went with that.
In a centralized network with a single authority, the decision for changes can be done much quicker, because the centralized authority is calling all the shots and they force changes onto whomever is using the network. This is why people are moving away from centralized solutions, because these centralized authorities are corruptible. 
In a centralized network with a single authority, the decision for changes can be done much quicker, because the centralized authority is calling all the shots and they force changes onto whomever is using the network. This is why people are moving away from centralized solutions, because these centralized authorities are corruptible.
Probably the parting of people with different opinions into multiple factions. If certain people disagree with how bitcoin is moving forward due to different opinions on how things should work, they split off and fork bitcoin. A perfect example of this would be the big blockers, whereas they forked off and created Bitcoin Cash(BCH). As bitcoin moves forward, there's definitely going to be more of this. With a decentralized system, there's no centralized authority to make the decisions hence the splits in the community. I think this is both an advantage and a disadvantage.
this is a great explanation for this, you are definitely right. I wonder how many more coins we will have, its an indefinite amount i assume.
it is true that it is super easy to create a new coin but not every creation is a good one. coming up with an innovation and also implementing it in the best way possible is the key to have more than one actual coin, otherwise copycoins such as BCH,... are worthless shitcoins that shouldn't even be counted towards total number of "coins" we have.
Probably the parting of people with different opinions into multiple factions. If certain people disagree with how bitcoin is moving forward due to different opinions on how things should work, they split off and fork bitcoin. A perfect example of this would be the big blockers, whereas they forked off and created Bitcoin Cash(BCH). As bitcoin moves forward, there's definitely going to be more of this. With a decentralized system, there's no centralized authority to make the decisions hence the splits in the community. I think this is both an advantage and a disadvantage.
this is a great explanation for this, you are definitely right. I wonder how many more coins we will have, its an indefinite amount i assume.
We know the advantages of decentralized however what are the disadvantages of the Decentralized system that we should take note of while using this technology?
do not have a lot of services such as businesses with a centralized system, and also services that are under a centralized company standard, because the cost of enjoying decentralized services is very cheap
maybe I will choose decentralized services if the features and services have been improved
Probably the parting of people with different opinions into multiple factions. If certain people disagree with how bitcoin is moving forward due to different opinions on how things should work, they split off and fork bitcoin. A perfect example of this would be the big blockers, whereas they forked off and created Bitcoin Cash(BCH). As bitcoin moves forward, there's definitely going to be more of this. With a decentralized system, there's no centralized authority to make the decisions hence the splits in the community. I think this is both an advantage and a disadvantage.
We know the advantages of decentralized however what are the disadvantages of the Decentralized system that we should take note of while using this technology?
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