Topic: If Bitcoin is centralized, will it still have value ? - page 5. (Read 639 times)

The point is that bitcoin cannot become centralized, so let's not try to make predictions that are unrealistic and will never happen. Bitcoin was designed as a decentralized currency to overcome the disadvantages caused by a centralized monetary system. So let's use those advantages to our advantage rather than hypothesize when it will never happen.

Do you see any assets or currencies that are centralized and controlled by governments or companies or individuals with good results? And if bitcoin becomes centralized, it will end up similar to fiat, you can look at fiat to find the answer yourself.

Can a centralised Bitcoin survive? The government or tradfi guys might destroy it before it has value.

Was looking for this because this was my first thought regarding OP's definition of bitcoin being centralized. I think the reason that this will fail though is that a lot of us would caught wind of this probably and persuade each individual to try and fight that centralization attempt by this malicious entities and I think that there's still more individual hodling bitcoins compared to companies.

Of course there are concerns that arise that may cause us to think that bitcoin becomes centralized like a monopoly in mining but as a community fighting actively against it and the nature of bitcoin being decentralized, it's close to impossible for that concern to ever happen.

If Bitcoin were centralized, it wouldn't have reached where it is right now. It wouldn't have become this successful. However, observing the current trend in the entire cryptocurrency market, the twist would probably be that even if Bitcoin was centralized but it was an altcoin which came out after a truly decentralized cryptocurrency became popular and widely adopted, it would still have reached a certain level of success. We only have to look at the current top cryptocurrencies to realize this. Many of them are centralized.

Being decentralized is something that define a lot for Bitcoin and in case this can be not true anymore then of course its value will plummet. Being decentralized means that nobody can be able to control Bitcoin no matter if big financial institutions or money individuals can be also investing into Bitcoin. Being decentralized, no government entity can be able to maneuvered Bitcoin according to its interest...and that is why many people think that Bitcoin is eventually unstoppable. And this decentralized standard is the gauge when we talk of other crypto-based platforms.

If it turns out to be centralized then no doubt that people or the community would jump off ship.. We arent that blind on why Bitcoin do rank #1 in the marketplace? Because its something that cant be
cracked down in terms of its codes or whatever technical side aspects and there's no way that it could be stopped even with the government on which it do really give out that kind of trust.
Its true that even on some altcoins in the market do still really be able to get that value or price despite on being centralized which means that there would really be still investors who would really be mainly supporting it.We cant really just that tell if Bitcoin would really be coming into a point that becoming centralized then we cant really be sure whether it would be still mainly supported or would really be trying out to transfer on totally anonymous and decentralized coins like Zcash or Xmr.

I'll just take this simply.

With all of those tokens, altcoins and projects that are centralized, they do even have a value and market capitalization. So, if Bitcoin was centralized and made like that in the first place, it could still have value but we will never know on how long it will survive.

Just as those centralized projects that we're seeing come by to the market and then eventually will be gone. Some may probably have survived but it all ends up to unknown situations on what actually will happen into these questions of scenarios.

The concept of some people always go that bitcoin being centralised it will devalue bitcoin, but from the creation of bitcoin satoshi have already know that if bitcoin being centralised they will be enough challenges and competitions in bitcoin and that is why satoshi made bitcoin to decentralized with the Co team, even though it was centralized bitcoin would have still have value, even now that bitcoin is still decentralized do you know that people still be scared of bitcoin and they also devalue bitcoin, so nothing can be created and it fails to have people that will become antagonist to it, op should know that

Decentralization isn't the only thing that brings value to Bitcoin. Even if Bitcoin was more centralized, it would hold on in this market. Probably the target audience and user base would be different.
Certainly Bitcoin would have monetary value but not much of the philosophy behind it.

Weird I wasn't assuming such sort of topics still can be created and such queries exist in this timeline as well. So buddy point of notice here is OgNasty from which depart or I would say school thought you are asking this question is it for the supply, hash rate, mining pools, Nodes Distribution, Market Platforms (Exchanges & Firms, etc), or the development. In a few words, Bitcoin is far more decentralized when it will be compared. That's why it's called BTC BTC. Haha seems like I said something in flow it's BTC because it's BTC.

Anway for your question there are some factors that give a point to people thinking for Bitcoin to be centralized which in a theoretical manner can be proved but with the actual resources it's near impossible.


What?? Is this a point to prove that Bitcoin won't lose it value, What the Altcoins had to do with the Bitcoin valuation or in reverse methodology as well, Do you mean Bitcoin won't lose its value to 100$ because there are other currencies having lower value compared to Bitcoin? Brother, you could have said that BTC won't lose because there is a large community standing behind it, Because it's not easy to manipulate the resources, Becasue Bitcoin always stands on the top because of its market capital, or anything making more sense.

Not an offensive motive but really I wasn't expecting such type of explanation from a senior. 

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.

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

If bitcoin is centralized, Satoshi would not have thought up to the way of using cryptography, he would have just created bitcoin in a way that the government would have taken it down.

Know that other cryptocurrencies mimic bitcoin but they are getting to be centralized, bitcoin created the way which they still use to function. If not for bitcoin, there will also not be altcoins.

What is your definition of becoming centralized? Are you talking about all the coins being in the hands of large investment firms, or the mining network being controlled by a single company or country? Maybe you’re talking about the development team being in the pocket of a single company? In all of these scenarios, Bitcoin is setup to resist, but I’m sure I’d that failed then it’s value would suffer.

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.