The basic concept is decentralization and I don't think it will turn into centralization even if the government really wants to control it. Also decentralization is not the main thing that determines the value of bitcoin, but I believe that if bitcoin can eventually be controlled in all sorts of super expensive ways, then surely many people or investors will abandon it.
Supply and demand in the market is the main thing that determines value, but decentralization also plays a role in the level of trust users have in bitcoin use cases over the years.
Topic: If Bitcoin is centralized, will it still have value ? - page 3. (Read 647 times)
Well... the fact of asking that question denotes conceptual weaknesses, which is normal within the configuration of how bitcoin works to some users. Such a scenario is not predictable, it is so improbable that you question is a bit imprecise.
In any case, given the versatility of cryptocurrencies, you can technically have centralized bitcoin but not Bitcoin.
In any case, given the versatility of cryptocurrencies, you can technically have centralized bitcoin but not Bitcoin.
If BTC was centralized but everything else like the Blockchain, launching date, etc is the same. I think it will still have value, look at how many centralized crypto in the market right now, and they still have value. But the value will much more different than now, the community wouldn't be as strong, and the price wouldn't be as high as of now. Though it will still be the father of cryptocurrency since you never mention to delay the launch.
If BTC is centralized, considering it is the pioneer crypto coin, the team behind it might have been manipulating the world for a long time, and it will not get the massive adoption it has already gotten globally.Moreover, just as other coins are trying to meet up with bitcoin through competition, some of the team members might have betrayed the system for their selfish interests, which might lead to a drastic fall in price, and it couldn't have survived to this level.
Bitcoin value is tied to it's decentralized nature and the principle it was founded. if Bitcoin were to become centralized, it would likely have a significant impact on its value. the decentralized nature of Bitcoin is a key factor in it's value. Bitcoin decentralization have contributed to it scarcity and security. all of this which are factors that influence it's value.
if Bitcoin were to become centralized, it could raise concerns about the control, and the investors might loss confidence in it's ability to remain a reliable store of value and a medium of exchange. centralization could also make it suspicious to government regulation and restrictions, which could further impact on it's value.
in conclusion, Bitcoin value is derived from its decentralized nature, which is closely with it's ideal, and any move towards centralization could fundamentally alter it's core and diminish it's value proposition.
if Bitcoin were to become centralized, it could raise concerns about the control, and the investors might loss confidence in it's ability to remain a reliable store of value and a medium of exchange. centralization could also make it suspicious to government regulation and restrictions, which could further impact on it's value.
in conclusion, Bitcoin value is derived from its decentralized nature, which is closely with it's ideal, and any move towards centralization could fundamentally alter it's core and diminish it's value proposition.
If Bitcoin were to become centralized, in any way or fashion, it would instantly become just as worthless as fiat. Albeit a fiat which is more advanced and better than the current fiat. But it would still become worthless, at least in my eyes. The very point of Bitcoin is to be decentralized money, otherwise we are back at where we started at and not only would it be centralized, it would be a tool of control and Surveillance. Nobody would accept that.
in conclusion, Bitcoin value is derived from its decentralized nature, which is closely with it's ideal, and any move towards centralization could fundamentally alter it's core and diminish it's value proposition.
You’re right about Bitcoin value derived from its decentralized nature but most importantly was Bitcoin is the first coin who introduced blockchain technology that makes this decentralized nature possible because there’s a lot of shitcoun nowadays already has same feature and the only difference of Bitcoin to them is the Bitcoin creators is not active anymore and they are the first mover in crypto.
Without the things that I mention, Bitcoin is just like any other and it’s value will not grow to the current value.
Now if in a hypothetical case this happens and they find a way to centralize it, it would cause a kind of notorious decline, since most seek this for the simple reason that no one besides the one who owns the bitcoin can control it, if this changes it will no longer they will see bitcoin in the same way, since the people who probably caught their attention would lose interest, considerably lowering the demand and therefore the value of the BTC.
I don't think it will happen but assume it will.I believe it will be a very big milestone in Bitcoin history and I am sure it will impact Bitcoin price, communities and market a lot. It will cause massive panic and certainly market will have panic sells but it won't last too long. The market will come to a point to calm down and bounce back from it, then strongly recover when people realize they did panic sells.
Because Bitcoin has bigger communities, better than centralized shitcoins so how will it drop to like $100 or $10 because of becoming centralized? It is very impossible in my opinion but maybe some people will disagree with me on that.
Bitcoin value is tied to it's decentralized nature and the principle it was founded. if Bitcoin were to become centralized, it would likely have a significant impact on its value. the decentralized nature of Bitcoin is a key factor in it's value.
I see things differently from your perspective, or should I say from the perspective of many people. What is unique and appreciated most about Bitcoin is the blockchain technology. The decentralization however helps it as well, especially during the initial stage as it was almost impossible for the government and critics to clamp down on it.While it tries to grow in value at the early stages, the first things that helped further were more access and listing, then businesses build around it through centralized systems like exchanges. This further builds confidence and accessibility that makes people believe that they can buy and sell Bitcoin without anything delaying their transaction (business confidence).
For this, I believe many things are to be appreciated in this value reference, not particularly decentralization.
If BTC was centralized but everything else like the Blockchain, launching date, etc is the same. I think it will still have value, look at how many centralized crypto in the market right now, and they still have value. But the value will much more different than now, the community wouldn't be as strong, and the price wouldn't be as high as of now. Though it will still be the father of cryptocurrency since you never mention to delay the launch.
I have always believed that it is bitcoin's decentralization that sets it apart from every other asset and has caused demand for it to increase, which will increase its value.
This can be argued, take note that there are so many people who don't care if BTC is censorship resistant, permissionless or decentralized, these people just want to buy BTC through a centralized exchange and even hold it there to make revenue, and from my observation, these people are greater in number than those who use BTC in the way in which it was created for.BTC was created to be a p2p network without a third party, but how many people trade BTC without a middleman involved in the trade, if BTC was centralized, and still maintains its fixed supply and volatility, it will have value because people will see they can make revenue from it, so there will be demand, but the user base of people who want a censorship resistant currency may not use it.
I am not saying that if bitcoin becomes centralized it will have no value but its value will be controlled and regulated by the government or a third party. People are making profits through centralized exchanges, which also doesn't mean bitcoin's decentralization is completely useless. And just because people are using centralized exchanges to make money, doesn't mean they aren't using bitcoin for other purposes. Maybe they are using bitcoin for cross-border payments, or they are using bitcoin to become their own bank after making a profit...Isn't that a feature of decentralization?
If you consider that decentralization is not what makes bitcoin different and valuable it is today. So what makes bitcoin so valuable and where does its volatility come from?
Others pointed out very well that there are a lot of meanings of centralization, and the answer about Bitcoin's value depends on what's meant. I'd also add that some centralization options are probably impossible with Bitcoin because it just wasn't built like that.
Bitcoin could hypothetically move from PoW to PoS, and PoS is more centralized than PoW, but considering the level of opposition to this idea within the community, I find that option unlikely. But if that happened, I don't think Bitcoin would lose or gain much value from it.
To me, centralization is mainly about control over the supply and the price, as it works for fiat. But it's impossible to gain that control over Bitcoin due to how it's designed.
Bitcoin could hypothetically move from PoW to PoS, and PoS is more centralized than PoW, but considering the level of opposition to this idea within the community, I find that option unlikely. But if that happened, I don't think Bitcoin would lose or gain much value from it.
To me, centralization is mainly about control over the supply and the price, as it works for fiat. But it's impossible to gain that control over Bitcoin due to how it's designed.
Why are we always busy in making up scenarios which doesn't fit in the system like this one? If it was centralised it may have value for usage but the concept is about decentralisation of funds by Satoshi.The fiat have value other tokens that are central controlled have value so it's about the usage actually.It was created with the aim of decentralisation which boost up the whole idea.
Besides, there's huge chance of BTC being close down if it was centralized coin when some government see it's high potential as threat to their national currency.
If bitcoin becomes centralized, I don't think the government will shut it down but instead they will take control and use it for their own purposes. I believe the government as well as we all see the potential of bitcoin, but since they cannot control it, they see it as a threat to fiat. And if they can control bitcoin, they will acknowledge its potential, but on the contrary, bitcoin will become a threat to us like fiat. But anyway, this hypothesis will never happen because bitcoin is already decentralized and no one can control it. The value of bitcoin will be completely dependent on supply and demand, not manipulated by the government or anyone.
The bitcoin survived over a decade for the decentralized character,because the price of bitcoin will not be controlled by any individual.So trader can get maximum multiple of the profit from the bitcoin.The price of bitcoin will depend on the demand in the market it will be the reason of the decentralized.So when the bitcoin became the centralized,their is possibility of reduction in the bitcoin in the market.But their is no chance for the bitcoin to became the centralized coin in the cryptocurrency market.
^ BTC has endured for more than a decade precisely due to its decentralized nature, which ensures that its price remains immune to individual control. This decentralization empowers traders to potentially realize substantial profits from BTC's fluctuations. The price of BTC is intricately tied to market demand, a core characteristic of its decentralized design. The shift towards centralization could indeed lead to a reduction in BTC's market presence. However, the likelihood of BTC becoming a centralized coin within the cryptocurrency market is remote. The very essence of BTC's resilience lies in its decentralized foundation, and this fundamental principle is expected to persist and centralization could invite government regulations and constraints, further impacting its value. hero member
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Bitcoin value is tied to it's decentralized nature and the principle it was founded. if Bitcoin were to become centralized, it would likely have a significant impact on its value.
If Bitcoin become centralized it will still have value but it will significantly impact the value of Bitcoin market because the community trust n it will reduce since the major reason why the community truly have trust in BTC is because of it decentralization which make it hard for the government to intervene in BTC just like they are doing now with XRP. Besides, there's huge chance of BTC being close down if it was centralized coin when some government see it's high potential as threat to their national currency. 
The bitcoin survived over a decade for the decentralized character,because the price of bitcoin will not be controlled by any individual.So trader can get maximum multiple of the profit from the bitcoin.The price of bitcoin will depend on the demand in the market it will be the reason of the decentralized.So when the bitcoin became the centralized,their is possibility of reduction in the bitcoin in the market.But their is no chance for the bitcoin to became the centralized coin in the cryptocurrency market.
Bitcoin decentralization have contributed to it scarcity and security. all of this which are factors that influence it's value.
How does decentralization decide Bitcoin scarcity?It relates to security but not scarcity that is decided by the initial design of controlled supply by Satoshi Nakamoto.
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in conclusion, Bitcoin value is derived from its decentralized nature, which is closely with it's ideal, and any move towards centralization could fundamentally alter it's core and diminish it's value proposition.
If Bitcoin becomes centralized, it won't lose all its value. Have less value or zero value will depend on many factors and not easy to say now. Altcoins like Ethereum, BNB still have their values which are lower than Bitcoin value so I believe Bitcoin value won't drop to $100 or $10 or $1 just because it becomes more centralized.How is the 21 million Bitcoin cap defined and enforce
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If Bitcoin becomes centralized, it won't lose all its value. Have less value or zero value will depend on many factors and not easy to say now. Altcoins like Ethereum, BNB still have their values which are lower than Bitcoin value so I believe Bitcoin value won't drop to $100 or $10 or $1 just because it becomes more centralized.
In reality I think that if, the fact of becoming centralized could affect the value of bitcoin, something that is quite difficult, the truth is the way it was created is such that in all this time that they have tried they have not managed to do anything , just adapt to what it is, and look for ways to cope with this currency that has totally revolutionized the financial market and has helped many people who decided to trust bitcoin to recover and remain stable from the inflation that certain countries maintain. Now if in a hypothetical case this happens and they find a way to centralize it, it would cause a kind of notorious decline, since most seek this for the simple reason that no one besides the one who owns the bitcoin can control it, if this changes it will no longer they will see bitcoin in the same way, since the people who probably caught their attention would lose interest, considerably lowering the demand and therefore the value of the BTC.
if Bitcoin were to become centralized, it could raise concerns about the control, and the investors might loss confidence in it's ability to remain a reliable store of value and a medium of exchange. centralization could also make it suspicious to government regulation and restrictions, which could further impact on it's value.
I believe if Bitcoin goes on the path of centralization, there will be different reactions from its community. Many will possibly refute the changes and withdraw their support to the Bitcoin economy and look for another decentralized cryptocurrency, and others will embrace it like how they embraced ETH when it transitioned to POS. Bitcoin will certainly retain to have value but we don't know the extent of damage the transition will make or the positive development it will accumulate upon transitioning.
One thing I am sure is that Bitcoin will continue to get traded and probably traders even take advantage of the changes to profit more.
in conclusion, Bitcoin value is derived from its decentralized nature, which is closely with it's ideal, and any move towards centralization could fundamentally alter it's core and diminish it's value proposition.
It is not only the decentralization where Bitcoin derived its value. I believe it is too naive to think that it is the only factor that gives Bitcoin value. Aside from decentralization, there are other features that give Bitcoin its value.
Who says BTC isn't centralized yet?
It's now a mixed version of BTC we are seeing here, that if some custodial exchanges holding a very huge % of the total mined coins doesn't mean centralization, then I don't know what should I call it. However, I believe that BTC has come way above these things and people here are just to make money from it and they've nothing to do with BTC's nature whether it's centralized or decentralized. So its value is not at all being affected by it IMHO.
It's now a mixed version of BTC we are seeing here, that if some custodial exchanges holding a very huge % of the total mined coins doesn't mean centralization, then I don't know what should I call it. However, I believe that BTC has come way above these things and people here are just to make money from it and they've nothing to do with BTC's nature whether it's centralized or decentralized. So its value is not at all being affected by it IMHO.
Bitcoin value is tied to it's decentralized nature and the principle it was founded. if Bitcoin were to become centralized, it would likely have a significant impact on its value. the decentralized nature of Bitcoin is a key factor in it's value. Bitcoin decentralization have contributed to it scarcity and security. all of this which are factors that influence it's value.
if Bitcoin were to become centralized, it could raise concerns about the control, and the investors might loss confidence in it's ability to remain a reliable store of value and a medium of exchange. centralization could also make it suspicious to government regulation and restrictions, which could further impact on it's value.
in conclusion, Bitcoin value is derived from its decentralized nature, which is closely with it's ideal, and any move towards centralization could fundamentally alter it's core and diminish it's value proposition.
Bitcoin became what it is today especially thanks to its total decentralization. Why no other coin will ever be like bitcoin? Because we know who created it, we know that the creator owns a lot of its own coin, and sometimes they even have the power to change whatever they want. At that point we simply have a fiat currency under the form of a digital currency, nothing more than that, and that is something completely unnecessary and useless. if Bitcoin were to become centralized, it could raise concerns about the control, and the investors might loss confidence in it's ability to remain a reliable store of value and a medium of exchange. centralization could also make it suspicious to government regulation and restrictions, which could further impact on it's value.
in conclusion, Bitcoin value is derived from its decentralized nature, which is closely with it's ideal, and any move towards centralization could fundamentally alter it's core and diminish it's value proposition.
I'd say no. One of its edge is decentralization. It could still be a profitable investment but for sure it would more likely have a lower market value than its ATH. One reason is the benefit of decentralization. Just compare its market price to centralized cryptocurrencies and compare the difference on its volatility and its market price. Other than decentralization, one of the things which developed an interest towards this blockchain is because of its origin which is why I do think Bitcoin will still have a higher market price than with stable coins but won't be enough to be as big as it is currently.
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