Topic: How Far Are We From A Fully Decentralize System (Read 236 times)
Bitcoin is decentralized currency. It design for decentralized system. There are some fault or scam has seen in system. When it happened then solid actions had taken and remove the faults. There may be more fault. Because of it you take it as centralized. Soon it may remove. One thing is sure. Company wants to give a fully decentralized system. And it will happen.
We are still in the decentralize system.
We are in a decentralized system you like it or not. Yes some people may have a lot of Bitcoin and you are assuming that because they have a lot of Bitcoin they are controlling the market. This type of issue is not unique to the crypto currency market but in all market. There are people who are controlling the market, this conspiracy theory has been ongoing for quite some time now but no single evidence have been provided.
Quite a long time I believe..
Mehdi
Mehdi
system will take a lot more time to happen. as you can see after som many years of staggle we are in platfrom were decentralize system is working
The concept is wrong. Bitcoin is still decentralized and will be always decentralized. It is coin that has no centralized control and it has no central authority to rule. It is still operating under this policy of decentralization as it is the motto of the bitcoin. Most of the people use exchanges for the transaction of bitcoin but that does not prove its centralization. 
To be honest, I am expecting a whole decade to see something fully decentralized ecosystem. As of now, we are decentralized in terms of technology but still there is lack of awareness among the masses about it and they don't know what it is all about but still, some people have invested their money to earn profit from the speculation activities. The maturity and realization of the power of decentralization won't come overnight and considering the growth rate, I do see a decade for it.
Partailly, centralization to crypto currency won't be that bad. For example, if government impose tax on it, then there're will a lot of investors who'll get motivate to invest this in field as they think if government is there, that will definitely be safe.
When Bitcoin came out first, one of the biggest reason the community endorse it so much is because of the idea of decentralization. But the ironic thing is most of the transactions now occurs in the centralize exchanges. How far are we from a fully decentralize system?
I guess this will never happen. Every country that doesn't ban bitcoin needs to regulate exchanges for them to monitor and track down possible money laundering acts. I know bitcoin is created to be fully decentralized trying to correct the blunders made by our centralized currency but this will just be merely a dream for now. It's either our country bans crypto or they'll regulate exchanges. We don't have a choice since we are dealing with the government.
When Bitcoin came out first, one of the biggest reason the community endorse it so much is because of the idea of decentralization. But the ironic thing is most of the transactions now occurs in the centralize exchanges. How far are we from a fully decentralize system?
I think there are decentralize exchanges like etherdelta but almost prone to hacking and everybody does not recommend to use it. But somehow I got all of my profits there.
Bitcoin transaction over the network is what is mostly talked of as a decentralize system with public ledger but not how you buy or sell it . Exchanges are regulated and mandated by authorities to perform due diligence and hence make transacting over them make it look like a centralize.
I thing we atleast need 20 years, many country in the world still not have a good resources like a good internet connection etc, world's people must have a good access to internet first than we can start to decentralized the system
Bitcoin is decentralized, but the use of bitcoin like any crypto currency is increasingly subject to centralization, control. This process is intensified with the development of legislation on crypto-currencies in different countries. Increasingly, there is an opportunity to track who bought the crypto currency,where and then translated it, where used it. I believe that with the introduction of crypto currency into everyday life (for purchases in stores, billings for services ...), there will be no decentralization. Only the process of creating crypts will remain independent
We can't tell that because it's uncertain and can't be determined yet. All that I know is we're still decentralized and for the coming years it willwill be like this. Change will come as soon as it needs to be let's just enjoy what we have right now. Only time will tell that so focus on what is in ours at this mmoment. 
Bitcoin is a decentralized system. That has never changed ever since. Noone has control over bitcoin, not the goveenment, not the central bank. I don't think bitcoin can get out of being decentralized. It is designed that way. We do have centralized exchanges, but that doesnt make bitcoin centralizded.
As far as I am concerned, Bitcoin is still as decentralized as it was, when I started in Bitcoin some 5 or 6 years ago. We might even be more decentralized than we were then. I remember a time when everyone was talking about centralization possibilities with mining pools and when we got close to that 50% attack, the miners did the correct thing and they joined other pools.
These days mining has grown into a much bigger industry and we have a lot more mining farms than we have now. The fact that people are using centralized exchanges is not a big threat to anyone, because people still trade bitcoins in a decentralized manner.
These days mining has grown into a much bigger industry and we have a lot more mining farms than we have now. The fact that people are using centralized exchanges is not a big threat to anyone, because people still trade bitcoins in a decentralized manner.
The system is decentralized already and we are not far from decentralization.Though some functionalities of bitcoin is done centrally but that doesn't mean that crypto if not decentralized. I think it is enough decentralized.
True dude, even the mining pools are centralized. How I wish the crypto currency is still decentralized. There are couple of decentralized exchange sprouting these days like DDEX, IDEX, WAVEDEX.. Not sure how decentralized they are.
When Bitcoin came out first, one of the biggest reason the community endorse it so much is because of the idea of decentralization. But the ironic thing is most of the transactions now occurs in the centralize exchanges. How far are we from a fully decentralize system?
There is a general issue with the decentralization of BITCOIN. It was designed to be decentralized but apparently more than 50% of the network hashrate is controlled by ASICs from one manufacturer and the most top ranking pools with most hashrates are controlled by networked groups with ties to the manufacturer.
I think bitcoin still uses decentralized system, when you think whales control all bitcoins, you are wrong. Whales only pump, individuals are people who control every bitcoin.
If novice investors do not panic when bitcoin prices soar and want to HODL in a long time, maybe bitcoin prices will be much more stable.
If novice investors do not panic when bitcoin prices soar and want to HODL in a long time, maybe bitcoin prices will be much more stable.
The current bitcoin system is fairly decentralized.
The reason why most trades are concentrated on exchanges is that bitcoin is not currently suitable for large-scale use and still needs a lightning network to solve the throughput problem.
The reason why most trades are concentrated on exchanges is that bitcoin is not currently suitable for large-scale use and still needs a lightning network to solve the throughput problem.
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