Topic: How Far Are We From A Fully Decentralize System - page 2. (Read 236 times)
I think it has become business of entrepreneurs or who have enough capital. So they hope to control the market direction as they want and then they smile to see it all. Thank you
Crypto currency is the best system for trading also its idea change the trading concept and makes our life easy based on this BTC is the 1st crypto currency in the market and this have lots of benefits also people know its benefits and still in the 1st position in the market so after few days later world currency will be crypto currency and btc will lead that currency.
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
Well, bitcoin made us familiar with the decentralize process as it is the very first decentralized digital currency in the market. But the world is still depended on centralize process. But I hope that soon the world will start to move towards decentralization.
I think the system is already in a decentralized system. Exchanges will remain to do some basic tasks. But this is not hampering the decentralization process.
On my understanding, when you say 'decentralized system', you are referring to anything that runs P2P without any central authority mandating it, and bitcoin is a perfect example of that definition. The production of the coins are carried out by groups of miners all over the world and no authority ordered them to do so, they simply started hashing right away. Using it however is a different thing. You cannot say 'decentralized' or 'centralized' on usage since people have their own choice whether or not to use their coins in a single event, service or product, so your view on a fully-decentralized system is somewhat wrong.
idea of decentralization is grabbed me towards cryptos. but the sad part is fully decentralize 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. decentralize system is not so much liked by the goverments i guess. for the reason it will take a bit more to me.
Everyone wants to follow decentralized system. Bitcoin is the first decentralize coin. But now a day’s every trades are occurring with centralize system. But i think in recent times this culture will change.
What do you mean by we?
Everyone will have varying degrees of answers because not everyone uses centralized services as much as the others. One could easily not use any kind of centralized service and thus achieve being "in a fully decentralized system".
Either way, I don't think majority of transactions happening within centralized services hurt Bitcoin's decentralization as a whole. Everyone still plays by the same rules at the end of the day.
Everyone will have varying degrees of answers because not everyone uses centralized services as much as the others. One could easily not use any kind of centralized service and thus achieve being "in a fully decentralized system".
Either way, I don't think majority of transactions happening within centralized services hurt Bitcoin's decentralization as a whole. Everyone still plays by the same rules at the end of the day.
Bitcoin will not be centralized otherwise bitcoin will cease to exist. Decentralization is the blood of bitcoin existence so whenever bitcoin becomes centralized then bitcoin will no longer be. Hope the developers will find away to over come this centralization stress.
these crypto currencies are decentralised but they are not used as mainstream currencies and due to the high volatile nature it is really difficult to be used as the mainstream currency also the people all over the world are not completely aware of it and they don't know its true potential but still i know that it will be used as decentralised currency all over the world it is just a matter of time and according to me it is still going to take around 10-15 years to happen
The bitcoin itself is decentralized and if it is traded in some exchange that is centralized, does not mean bitcoin is centralized. We have the choice to deal with exchanges that are decentralized.
Now, crypto-currencies have a completely decentralized management system.
It is important that the state does not affect the activities of investors. The more people have crypto-currencies, the better for a crypto community
It is important that the state does not affect the activities of investors. The more people have crypto-currencies, the better for a crypto community
I think we're missing the point of "Decentralized". The more people I talk to, the more I understand that nobody understands what it's even good for, and more importantly, the current limitations of decentralization.
What we have today is not truly decentralized, and it will be a very long time before true decentralized systems crop up. But we are in the right way.
What we have today is not truly decentralized, and it will be a very long time before true decentralized systems crop up. But we are in the right way.
define a fully decentralized system? then explain why bitcoin doesn't satisfy that definition.
bitcoin is the most decentralized system that you can find and hope for. there is little room left for improvement and all the third party centralized services such as exchanges, payment processors, gambling sites, shops,... has nothing to do with the fact that bitcoin is decentralized.
bitcoin is the most decentralized system that you can find and hope for. there is little room left for improvement and all the third party centralized services such as exchanges, payment processors, gambling sites, shops,... has nothing to do with the fact that bitcoin is decentralized.
People will soon abandon centralized exchanges dues to strict regulations and bad services. I'm sure when that happen, it is the time for decentralized exchange to rise. Currently, there are lot of decentralzed exchange are being developed out there, and soon people will migrate to it.
But the ironic thing is most of the transactions now occurs in the centralize exchanges.
that is just what you are assuming and have no proof to back your guess up.
is bitcoin used my a lot of investors as a way to make money? yes
are these investors using exchanges to do so? yes
does that make bitcoin centralized? no.
is it the whole usage of bitcoin? obviously not. there is a lot more to it than that. there are millions of dollars being spent on buying different goods from millions of merchants around the world.
Yes, those are my assumptions. I just feel like we lives in the bubble created by the force of centralization. But I also believe after the correction, the whole market and bitcoin itself overall will grow stable and steady.
What does the Fully Decentralize System means?
It is decentralized enough so no one can speculate with it or controls it. Some aspects make the bitcoin infrastructure a bit more centralized like the LN, but I don't think this will make any difference in the meaning of speculations or control.
You can decide for yourself how centralized you want it to be, using exchanges, LN, mixers or making direct payments, same as the security, if you do it properly, lower risk to loose your money.
It's an ecosystem that gives you freedom to decide how you gonna use it.
It is decentralized enough so no one can speculate with it or controls it. Some aspects make the bitcoin infrastructure a bit more centralized like the LN, but I don't think this will make any difference in the meaning of speculations or control.
You can decide for yourself how centralized you want it to be, using exchanges, LN, mixers or making direct payments, same as the security, if you do it properly, lower risk to loose your money.
It's an ecosystem that gives you freedom to decide how you gonna use it.
We are just taking little baby steps toward a DeCentralized world- bitcoin is just the beginning.
I don't think you understand what decentralization is. Bitcoin by its very nature was designed to be decentralized. The only way for it become centralized is if one person owns over 50% of the network hashrate.
Just because people buy from centralized exchanges does NOT mean that bitcoin itself is centralized.
Just because people buy from centralized exchanges does NOT mean that bitcoin itself is centralized.
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