Topic: If Bitcoin is centralized, will it still have value ? (Read 644 times)

Bitcoin has centralisation too: new protocols are created by a small group of people. It doesn't affect data storage, since blockchain is present on every mining tool, but it affects the development of the overall system, and also it has a impact on the adoption progress. Moreover, after some time BTC can be centralised not only by means of controlling update centers: the public acceptance of BTC can create menaceful and greedy money-controlling cryptotycoons out of several hodlers, just like we see it with dollar now.

If the government has control then obviously the government has nothing to fear and they will not only let it live and thrive, they may even promote it because of the possible potential profit the government can acquire from the Bitcoin adoption and usage.


I also agree that the price of bitcoin if often times manipulated by people who have a huge influence in the market.  The market price is also manipulated by the people who have huge amount of BTC and at the same time huge amount of fiat currency.  They can then manipulate the market through buy and sell within themselves.

Yes, the success of bitcoin lies on the decentralised functioning along with the limited supply. Even in the name of decentralised Functioning several other cryptocurrencies existed, but very few were standing in the market while the majority had disappeared. Even with the centralized system bitcoin could've got value, but it couldn't be the same as now in terms of price, usage and popularity.

I'm curious about your focus on Bitcoin centralization. Satoshi dedicated significant effort to establish a decentralized financial system, and it's interesting that you're considering centralization in your involvement with Bitcoin. While there have been centralized currencies that didn't gain popularity, Bitcoin's success and value stem from its decentralization.

I have used the Libra as a case study for you.  The reason why I believe if Bitcoin centralized it will be shutdown by the government is because the government never want any form of currency that will World currency or have the chance to use more or dethrone their national currency.
The government like being bossy they never like any idea to that will stop or limit their yearly fiat currency printing.

Firstly,  no country take over Gold it only depend on each countries capacity in Gold investment and interest.  Having said that,  if Bitcoin become more valuable and recognized globally which we are already on the verge it is still impossible for a single government to take over BTC.

Finally, someone is trying to get past the crazy part of mass panic and see what's really going on. Decentralisation is at the heart of everything Bitcoin stands for. The rule of law itself! And now people are freaking out and making up stories that Bitcoin could become centralised by some magic. Its like they've forgotten why they joined

Do they have any idea how stupid that sounds? Its like saying that a few puddles drying up will cause the seas to turn into deserts one day. Centralising Bitcoin would go against the very idea behind it.

And these crazy price guesses? Totally false! Keep your feet on the ground. Look at the patterns and the trends. Dont just repeat doomsday or hopeful thinking like a bloody parrot. Your example about the million-dollar guess and the $40,000 is right on the mark. This kind of unrealistic talk gives people false hope and then makes them give up

Bitcoin is a decentralized thing reason why it looks centralized is because the platform has a large amount of it makes a huge amount of market manipulations; everyone have the capability to have this bitcoin and not just keep it limited to the community like the centralized tokens. People can transact with their bitcoin and do what ever they want, buy other coins, sell their asset, use bitcoin as a mode of payment, etc. People keep buying and selling there's still a demand of bitcoin if there's no more any value will loosen up but seems like not will happen again.

It is true that bitcoin or ETH or BNB were created with their own purpose and mission. But if bitcoin becomes centralized, meaning the government can control it, how can it threaten their fiat currency? They are seeing it as a threat because they cannot control it, but once it becomes concentrated, it is no longer a threat to them. So that's why I think the government wouldn't even care about bitcoin if it were centralized, let alone shut it down.


If bitcoin becomes more valuable and recognized worldwide, do you think other governments will let the US take over all of bitcoin? Just like gold, why can't the US buy all the gold in the world?

OP let me ask you, is fiat money which is centralized currency gaining value every day under centralization? We all know the answer as I can not help answer the obvious. In same vein should bitcoin be rendered under centralized authority the value would not only drop but dump with time, and we won't be here strongly waiting for a bitcoin halving and that won't be happening. Also, making bitcoin centralized will mean taking away financial freedom from all bitcoin enthusiasts as privacy and self custody of our funds would be a talk of the past

I think bitcoin could never be centralized and will never be centralized. People are overreacting to stuff and that will always be the case in human history. People just have a tendency to make things out of nothing and that's always a trouble for all of us.

I think we should be considering that this is not really as big of a deal as we think it is, and we should be considering the most probable thing not the most insane thing. Just to give an example, asking "will bitcoin be a million dollars this year" is just way too wrong of a question to ask, it doesn't make sense at all. You should ask like "will it be 40k this year?" because that's more realistic. Same with centralization, not something we should be worried about.

If Bitcoin is centralized it will never be like ETH and BNB.
1. Ethereum was designed as a platform for developing decentralized apps and hosting smart contracts, with its native currency, ETH, acting as a system lubricant.
2. BNB was created to fuel the Binance exchange trading free and it also serves as the utility token used to receive lowered trading commissions before crypto investors see it as a good investment.
But Bitcoin was created as an alternative to fiat payment method and the government sees it as a threat to their native currency. Besides, they also believe taking it down will influence all the altcoins in the market, and it's true which is why we can't judge ETH and BNB centralized coin not taken down by the government with what will happen to Bitcoin if it is centralized.

How can we be sure that manipulation will be more difficult judging by the number of Bitcoin collected by the US government, grayscale holding, humpback whale holding, and more?

Bitcoin centralized? seems like this argument is arguably very improbable. Because its creator, Satoshi Nakamoto, has indeed designed bitcoin to be a decentralized asset. So,bitcoin can become centralized, How to?
But if for example this happens (bitcoin becomes centralized). It is certain that the market value of bitcoin will be affected. Because if this happens, the level of trust in bitcoin will definitely decrease. But even so, I believe in one thing, even if the bitcoin system changes to centralization (for example), but most likely, investors who will leave, in my opinion, will not be too many. Because it's all caused, the potential embedded in bitcoin is still there. So, for example bitcoin is no longer decentralized, but still the potential that exists in bitcoin will not be lost.

Because it needs to be remembered, even centralized cryptos, if they have very good potential and quality, are always in demand by many investors. Moreover, bitcoin, the pioneer of crypto currency, is the best and the best quality cryptocurrency, has the best market volatility, so it is certain that there will always be lots of enthusiasts and its market value will not drop too drastically, even though bitcoin is becoming centralized.
Yes, this is true, if bitcoin turns into centralization, the goals and ideals of bitcoin will surely fade and disappear. But I'm sure it can't happen. Always optimistic my brother.

Surely there were people that invested in Bitcoin due to its decentralized nature and having it just get controlled by another entity would make them sway away from this. If this were to happen from my perspective as like the usual investor, I would definitely sell my Bitcoin to either USDT or any sort of stablecoins out there. I know they're still decentralized with some few coins that aren't, but having a volatile pricing of coin along with a third party controlling it just screams disaster of my money being held captive or frozen.

Maybe they can't 100% control it because there would still be market for it, but they could somehow control how they're used by their people.

If bitcoin is centralized, the government will not only control the bitcoin price, but they can control the entire bitcoin network and I'm not sure they will continue to let it live and thrive. But when it becomes decentralized, they will not be able to control its network, but to say that the price of bitcoin is not manipulated, I disagree. Although I know that the price of an asset will depend on supply and demand, I believe that the bitcoin price is being manipulated by many underground forces for profit. The volatility of bitcoin is not entirely dependent on supply and demand, it is being manipulated, and that is why it fluctuates so erratically.

I think if bitcoin becomes centralized it will still have value but its value will be decided by the government and will never be able to reach the high value it is now. But you are correct, the bitcoin centralization hypothesis will never happen anyway and the value of bitcoin will continue to go higher as it becomes more popular. We can also get rid of government control with bitcoin. Whatever method they can use, but they need to accept the fact that they will never be able to stop bitcoin and our use of it.

since the beginning of the current value of bitcoin was created due to the trust of buyers and also other parties and when bitcoin turns centralized of course that trust will be lost and people will switch to other crypto assets, apart from the loss of public trust in bitcoin the bad impact if bitcoin is centralized is vulnerability to manipulation, both by the government and influential people who live in this world. in conclusion, even if bitcoin becomes centralized, the price of bitcoin will still exist but the price will definitely be very easy to manipulate.

Mark Zuckerberg wanted to create Libra and make it available on Facebook. But United States turned it down. Bitcoin is the first cryptocurrency, do not use ether or binance coin to compare it. Likely the way bitcoin will be centralized, the government would have taken it down.

Bitcoin price is not manipulated just like I said before. Hold bitcoin, you will make profit. Speculate accurately using past bitcoin price and you will make money as well. Do not use the wealth of 3 or top 4 billionaires in the world to compare bitcoin because these people you are talking about are not even investing in bitcoin. Compare them if all or most of their assets are in bitcoin, but which is not.

Honestly, I don't have a single memory of the Libra you mentioned . But if bitcoin becomes centralized, it will be like ETH and BNB, so it won't be as much of a threat to the government as it is now. That's why I believe the government won't shut down if bitcoin is centralized.

The future is unpredictable, but with something getting bigger and bigger and as it spirals out of control, it's clear that manipulation will become more difficult now.


The bitcoin network cannot be manipulated but when it comes to the movement and price of bitcoin, manipulation is pretty easy. With a market capitalization of just over 500 billion USD, which is only equal to the assets of the top 3, or 4 billionaires in the world combined, even smaller than the capitalization of a technology company. So how can it be called mature enough to not be manipulated?

The value of bitcoin depends on supply and demand just like other assets, but when it is too small, manipulation is inevitable. There will still be self-interest groups that seek to manipulate the market for their own profit.

I am also curious if it has a value, for sure someone or some entity will decide the price of Bitcoin then.
Or the only they can control is the chain/network itself. I will not be trusting it, it's like a centralized exchange where your hard earned money is in their custody because they can easily access it.

Of course, Bitcoin is still valuable. But Bitcoin will never be centralized since Satoshi designed it to resist political control. We are all aware that there are government officials who will take advantage of or even steal from people who have a lot of assets or money. That's why Satoshi Nakamoto created Bitcoin, so that authorities who want to stop someone they don't like can't. It also increases someone's privacy to malicious individuals looking for a possible victim.