Topic: If Bitcoin is centralized, will other cryptocurrencys survive ?. (Read 445 times)

It depends on the situation and I think other cryptocurrencies will survive if that's what really happened but it is not. Well, I am sure you know the reason why Satoshi Nakamoto created Bitcoin as a decentralized crypto and not centralized crypto. Being decentralized and centralized have it's own advantages and disadvantages where many people prefer it's advantages and one of it is being decentralized which means no one is controlling it behind the scene unlike other crypto where they can stop the transactions for a certain time before they continue the transaction which means someone or a group has control of the crypto.

Bitcoin is the dominance cryptocurrency to exist and all other altcoin are behind it. If bitcoin was centralized, during market volatility, being it bearish or bullish market, every cryptocurrency will stand on their own without moving on the path that bitcoin is moving with other altcoins now. The worst side of it is that, scam projects will be on the increase and there won’t be much regard for bitcoin since other projects can build something similar to it and still survive the market volatility.

Why waste time thinking about something that cannot happen?

How would you centralize bitcoin? You'd have to for instance centralize all mining, making it free to mine in your country, but free power for mining wouldn't mean that you'd control miners. You'd simply make them mine at your location, but the hardware and profits would belong to them, otherwise nobody would go there.

Everything is governed by basic math and market laws. You cannot centralize bitcoin without spending billions of dollars in the process, and even that doesn't guarantee success, but you can be sure that your investment will drive the price to new highs.

This is not true, protocol improvements are not performed by a small group of people like you say, but by the whole network, and by the whole network i mean every Bitcoiner that is running the full BTC blockchain. If a protocol improvement is proposed and most of the nodes reject that proposal, it would either be dropped or a hard fork would occur, a protocol improvement must take place through consensus, with most of the nodes upgrading to accept the new proposal.

Let's first take our minds off the thinking of weather bitcoin will be centralized or not, because it was used on this discussion as an assumption that if or what if, but we shouldn't get it confused that bitcoin is going to be centralized by any means, it will always remain decentralized as it has always been, the reason behind why bitcoin wad invented was to grant us freedom away from the rulership of the government in having control over our finances and this was achieved, one of the means this was achieved was through decentralization.

First of all it's not really likely that bitcoin will become centralized, because it's used all around the world and there would be a strong opposition by all the investors. Who would take care of the centralisation? There would be a power struggle out of which countries they operate. In case bitcoin would become centralized out of Europe of Asia, then all the foreign investors would likely leave the sinking ship immediately. It's one thing to centralize bitcoin and something completely different to keep all the investors engaged and use the coins actively. This would definitely have a strong effect on the alt coin market, I would expect decentralized coins to take the place of bitcoins. All the big investors would just switch to alternative and don't abandon the crypto market all together. The average investor doesn't have to worry about it, as long as we react to any negative news coming up we will be fine.

Centralisation of BTC has many aspects. For example, we can consider BTC already centralised due to the fact that most protocol improvements are performed by a small group of people. But in context of data storage, btc is fully decentralised, since all the miners store the whole blockchain. The same thing is true for any cryptocurrency. So, I think, the degree of BTC centralisation won't affect the other cryptoprojects. The only thing that will change is the price of BTC and other coins (most probably it will go down).

But bitcoin's capitalization is making up more than half of the entire market capitalization and it is easy to see that the entire market is dependent on bitcoin. So it is very difficult for altcoins to survive if bitcoin dies. I believe that if bitcoin dies, the entire crypto market will disappear because bitcoin is the mainstay of the entire crypto industry. If Satoshi didn't create bitcoin, we wouldn't have this crypto market either.


Strictly speaking, the cryptocurrency market depends on bitcoin. Altcoins are going against bitcoin not because they don't depend on bitcoin but because it is being manipulated by sharks and that usually happens in the short term.

Bitcoin is Bitcoin, altcoins is altcoins. If Bitcoin die, it's not actually mean altcoins will die too and vice versa.

This is misunderstanding, if crypto market is backed by a Bitcoin, it's mean every shitcoin will survive since Bitcoin is already exist for 14 years. All of them also must follow Bitcoin price, but the reality isn't, there are still few coins that the price not influenced by Bitcoin.

There are centralised coins like BNB that have quite good value and continue to exist. The only reason why centralised coin have existence is because we have a crypto market that is backed by a decentralised Bitcoin. The foundation of crypto market is decentralised Bitcoin.
There is no point in discussing the fact that whether Bitcoin will become decentralised or not, since its already discussed lot many times. Centralised exchanges have Bitcoin hosted on them and you can see what they do whenever Bitcoin crashes or climbs to new ATH.

You are answering your question and you still want other people's answers. Are you trying to boost your post count?
What do you mean by "survive"? Coinmarketcap is full with dead shitcoins, with a market cap and trading voume below 100K USD. Theoretically, those shitcoins are still alive. Their blockchains still work, but almost nobody uses them. Are they dead or alive?
I'm sure that even the smallest shitcoins can survive, but their prices will be pretty close to zero. Something like 0.000001 USD.
Bitcoin cannot become centralized and I don't know why do we have to keep imagining ridiculous theories about the same shit over and over again.

"if" bitcoin is centralized, others will not survive. Also "if" bitcoin is owned by a single person and nobody else, no other currency will survive, or "if electricity is gone" then bitcoin won't survive, and same as "if the whole world blows up, bitcoin won't survive". We should stop considering these unrealistic stuff and start considering a bit more serious stuff as well.

We are talking about things that will not happen like they will happen but we all know that it is not going to happen at all. So, if we keep on trying to figure out how to do something like this, then we are going to end up with a problem and that's not going to end up being anything good at all. So long story short we should be ignoring all these FOMO stuff.

If Bitcoin were not decentralized, it wouldn't have earned the interest and trust of the people and institutions. Which means that it wouldn't have even taken off. The price of Bitcoin would have remained very low, if at all. This further means that cryptocurrency wouldn't have become a huge thing like today. There'd be no crypto market. Neither would there be a crypto industry. Every altcoin wouldn't have existed, knowing that they are all riding on the success of Bitcoin. That success is owed to its decentralization.

Bitcoin is decentralised and we've got more altcoins that are centralized. Those coins are successful in the market. Based on the decentralised functioning bitcoin is more popular, maybe this popularity could've been low as it is same as other currencies. Only the limited supply stands as the unique feature from the traditional currencies. The same could've made the usage come down.

If bitcoin become centralized then I think people will follow its success and no matter it is centralized or decentralized because people always select that way which gives them earning ability.

Other coins already deepens on bitcoin so when bitcoin become centralized then it will depends on the demand for bitcoin, if more people demands for bitcoin then surely there will also be good impact on other currencies otherwise other coins will loss their value like that of bitcoin.

You should explain a little bit better how this would happen considering that it never happened until know and pretty much everybody knows that one of the biggest bitcoin advantages is its complete decentralization, so if you remove that the whole project would lose a lot of credibility. But again, how would that happen? Otherwise we're talking about nothing...

Centralizing Bitcoin would be an obscenity in its perfect design.

In terms of influence: Bitcoin's massive market dominance can affect altcoins, but its more than statistics. Trust, honesty, and decentralization transform. You think altcoins can endure due of their uniqueness? Without Bitcoin's decentralization's confidence, these special qualities are worthless.

Every altcoin today was inspired by Bitcoin. How can crypto derivatives not suffer if the gold standard is compromised?

Your final point on universal acceptability Giving value is superficial. Bitcoin has constantly supplied ideals, trust, and utility, which create value. Should it centralize? The crypto world would be in chaos and distrust.

I think decentralized is the biggest part of Bitcoin, do you know how many other coins wanted to walk in the same path as Bitcoin but failed to make it work? If Bitcoin becomes centralized it makes no sense anymore and billions of dollars will exit Bitcoin for other coin, I don't have a name but I believe that's what will happen.

So many whales feel comfortable buying and holding Bitcoin because it's decentralized, if it's something the government can control I myself won't be in Bitcoin right now, the 1st position that belongs to Bitcoin will be shifted, and Bitcoin will slowly be forgotten.

I can't see any altcoin that's truly decentralized like Bitcoin, maybe there is but I doubt that it will be fully accepted like the way people accept Bitcoin.

Anyways this conversation is all about what if, so it makes no sense looking for what could replace Bitcoin's position.

Fortunately, bitcoin is decentralized and no one can change that. But in the case of bitcoin being centralized, I don't think there will be another coin that can be decentralized because apart from bitcoin being created to be currency decentralized, all altcoins are designed to become an investment. How can someone create a decentralized coin when their goal is profit? Only bitcoin is decentralized because Satoshi didn't intend to make it an investment but because we made bitcoin an investment.

But whether bitcoin is centralized or decentralized, altcoins will still be created and will survive because that is the financial playground that market makers create to make a profit, they will not give up easily it.

If bitcoin were become centralized but the technology are still using blockchain, I think there will be another crypto that is decentralized, bitcoin will definitely not as popular as now, but other crypto will still survive. Maybe there will be other cryptos that are decentralized, and other crypto will be centralized, even those centralized crypto will survive, as we can see now there are a lot of centralized crypto like ETH and SOL that is quite popular.

Supposes bitcoin is centralized I do believe other cryptocurrencies will survive. But currently, even though Bitcoin held firmly its principle, any other coin are not having any decentralization that is close to Bitcoin. In fact, some of them only use the word decentralized as a buzzword. So the reality is that other cryptocurrencies did not maintain that aspect as a priority. Given that, if Bitcoin somehow loses its credibility, I don't think there will be something wrong with the sustainability of other cryptocurrency projects.

basically bitcoin carries a decentralized system which is considered more effective than the current system which is centralized, if bitcoin follows a centralized system, I can't imagine, of course there will be negative sentiment on bitcoin which ultimately leads to investor confidence that supports the decentralized system, until finally the price of bitcoin falls and this has an impact on altcoins which will also follow the collapse of bitcoin

the answer is another cryptocurrency will survive like now because the some of altcoins had different purposes and for now I considered Bitcoin as digital gold or to use as a store value. While altcoin can use as other thing like saving medical record or authentication as an art. and it will be there

Yeah, Bitcoin is the top-ranked coin in the crypto market because it has the highest trading volume and is listed on every exchange. Bitcoin holds the market, and it's the reason why some people are even Investing in crypto, so if perhaps Bitcoin becomes centralised and the price is affected negatively, it's going to bring down every other cryptocurrency. Although they will survive if Bitcoin lives on, but a lot of Altcoins are going to become shitcoins instantly, and investors would suffer a great loss.

If Bitcoin becomes centralized?  In the first place investors will not trust and doubt is always of those who adopted Bitcoin.
It could potentially be causing a loss of confidence among investors and users of this technology and could lead to a domino effect, affecting other cryptocurrencies that also rely on the principles of decentralization and trust IMO.

So there's nothing more exciting when Bitcoin becomes centralized and backed by the government and it could be vulnerable to attacks, manipulation, or external pressures, potentially impacting national security and financial stability.
So that is why it was created as a decentralized we know the purpose.

I don't understand how Bitcoin can become centralized, what makes you think it can become centralized?  Its protocol provides for a distribution of nodes based on pow and this means that it remains decentralized forever, only if 51% of the nodes were obtained we could speak of a desirable centralization, but it is something that will never happen.

If bitcoin gets centralized or even if bitcoin dies the other coins will survive because they run in their own blockchains, In the end, bitcoin is independent from other blockchains, if it works or not it doesn't affect the other coins.

The only thing we would see would be a change in the markets, maybe ETH takes the place of number one in the market and the other coins' price becomes now on ETH price based. That would be my prediction.

Many people are dealing with Bitcoin not because of the profit they are making from the currency but because it is decentralized. Decentralization is the beauty and heartbeat of Bitcoin. If Bitcoin becomes centralized which is unlikely to happen, investors will dump it and move to other cryptocurrencies. The fall of many centralized exchanges has shown most investors the negative effect of centralization. Bitcoin being the pathfinder of the crypto world will not be centralized because centralization will give rise to government influence and possible attacks. To answer your question, if Bitcoin becomes centralized there will be a loss of confidence in the crypto sector. But some altcoins might take over the leadership of the sector if they can prove to investors that they are truly decentralized. I don't think the crypto sector will collapse because Bitcoin derailed from the course.

The decentralization of bitcoin is what has made it survive to date. If bitcoin becomes centralized, it will be manipulated like other fiat currencies, and investors will withdraw their bitcoins because many of them have huge amounts of money that have been invested in bitcoin, which, if it can be controlled by the government, seriously puts them at high risk of losing those funds. Or maybe the bull run we are expecting will not come as we want until the government says something about the price, and you know some alternative coins depend on bitcoin price to fall or rise.

Once bitcoin becomes centralized, alternative coins may crash, and even if they survive, people will only use them for investment because of the profit they may generate during the bull run. But they will not last like bitcoin because, as you know, many of these alt coins are centralized, and anything can happen. The coin may crash, and the investors may lose the funds that have been invested.

The common misconception about bitcoin and cryptocurrencies is that they are within the same house, operating like cogs on a clock that if one part breaks, the rest of the ensemble is expected to stop working. In reality it's more like a factory, where bitcoin is the top employee of the month and the rest of the cryptocurrencies in the market are its co-workers. Say bitcoin decides it wants to become centralized, will the other cryptocurrencies be forced to centralize themselves as well? Possibly. After all, if the top performer does it, it could be the reason why it's performing so well. Are they forced to do it though? Not really. The rest of the cryptocurrencies can go on with their decentralized lives and perform just as well as they did before. I hope this analogy makes understanding the industry a little easier.

Given the fact that Blockchains operate independently of one another, Bitcoin being centralized (it's not centralized, just an example) - Then I'm not sure it would likely have an adverse effects on other chains since they all operate independently and have their own protocol governance. The only matter of concern is how the market would react it considering the fact that Bitcoin is the biggest blockchain network right now. But with that, I feel the market would recover afterwards if that's your concern. So in hindsight, (Bitcoin already had a fork) and it played out fine because other blockchains were independent of one another.

Only if you understand the idea behind buying something that is fake from the original, aside bitcoin, you're on your own, they may survived by not all and we are not sure for how long will their survival last, all we know we have is bitcoin and we trust the process together with the network.


I doubt all these because most of the alternate cryptocurrencies are centralized and the only thing that can determine their fate is their developers or inventors behind their project.


Take it or leave it, bitcoin can never be centralized, yet other cryptocurrencies find it difficult to survive.

Without Bitcoin, I doubt if cryptocurrency would have this much popularity and adoption. Bitcoin was the father of cryptocurrency and if it had been a centralized coin a lot of people wouldn't have trusted it wouldn't have been what it is today. The decentralized nature of Bitcoin is one core reason that places it above every other coin.

If Bitcoin were centralized, nothing makes it different from all the other altcoins out there. So even if other cryptocurrencies survive, the adoption will be very low because very few people would trust it.

Haha, I can say that this is one of the most redundant topics in the Bitcoin discussion after the query of Bitcoin as a store of value, So now moving on t the topic, Buddy Bitcoin is Centralized thanks for informing me or asking this question if you don't know, now please mention the context of your query what you want from the Bitcoin and in which direction you are saying or asking about the Bitcoin as centralized. Being lazy buddy honestly, I haven't gone through reading your full post because after reading the first 3 lines I almost got it on which dimension Op is creating this topic.

So simply Bitcoin is decentralized by some men's can be considered slighter non-decentralized. Also Bitcoins' decentralized has no loss and profit to the other Blockchains.

Actually cryptocurrencies are decentralized currency and when emphasising cryptocurrency its quite understanding that bitcoin is mother of other cryptocurrencies, altcoins are like sub of bitcoin and that is while when bitcoin is promising in the market it affects other cryptocurrencies altcoins mostly, while altcoins die along the way, its because of the potentialities, when it lacks good reputation it die off during long experiencing periods of bearish market, but not all altcoins die off, the reason while not all die off is as result of potentialities In the development of the coins, but all altcoins got its life back during bullrun and what effects the bullrun is bitcoin marketcap, whenever Bitcoin started experiencing bullish other coins join the way and experience acceleration in the bitcoin market price.

Most likely veteran investors will flee from it because they surely know what comes next because after that it will be a total control by the government and no one wants to be controlled especially with their money because honestly, those bitcoins that are in our wallets are our personal assets and no one should able to get that or stop us from using it just like the other altcoins we have once their owner became vulnerable to the government, the investors are in trouble just like what we have witnessed with the Luna recently.

Long story short because you already spit some facts but here is my version. That, if BTC went Centralized means it is not more based on POW (proof of work) which means it might have become POS (Proof of Stake) if that's happened then it means the BTC have become New ETH but with unparallelly market cap and dominance.

But still, if BTC went Centralized then i think other Cryptocurrencies will still exist as there are two things Coins and token Coins have there own blockchain while token depend on other's blockchains. Means if ETH have its own blockchain which it has then even if the BTC went shut down which is impossible then the ETH will still exist but the Ordinals and other tokens which are or will list on the BTC blockchain will not exist if BTC went shut down i know you asked about centralization and the answer remains the same.

The only difference between bitcoin and alts is the concept of decentralization. Bitcoin is the only crypto that is fully decentralized rest all are centralized. We saw recently ethereum shifting to PoS from PoW, this clearly proves that etherum is controlled by a community of developers 
It's imperative to mention that alts are due to decentralized bitcoin not the other way round. So far we have seen that no alt has capability to move and down on its own as they are all linked with bitcoin price.

Although the entire altcoin market depends on bitcoin, and it is conceivable that if bitcoin collapses, the entire crypto industry will also collapse. But decentralized or centralized bitcoin will have nothing to do with the existence of altcoins, as long as bitcoin exists then altcoins will always exist. 

Lately, I've seen several threads theorizing about what would happen if bitcoin were centralized. But honestly, this is not possible, so why waste on these bogus thoughts?

Bitcoin is decentralized and other cryptocurrencies (alternate cryptocurrencies, altcoins) are centralized. Altcoins survive or die over time but they are centralized always. They died because they have bad founder and developer teams that don't depend on Bitcoin's decentralization or centralization.

Like I can have a good or bad job, high or low salary but I am responsible for it and it won't be decided by you.

Bitcoin as the mother of all cryptocurrency value is derived from the fact that it is a decentralized commodity void of one government and human control but rather a general audience  commodity controlled by market demand. From the unset, the founder of bitcoin knew that if he or she had handed over bitcoin to the government, it would have been manipulated and fully dominated by the government and not giving room for massive adoption which is the case today but rather choose to hand it to the masses i.e public for their usage.

The issue of other cryptocurrencies survival does not depend fully on bitcoin but somehow, bitcoin activities have its side effect on them. Although people invest in them to  take profit and it goes on that way that projects keep thriving on the same scenario. The fact that there is no control over bitcoin makes it unique and void of government interference on market price and demand. This is the edge bitcoin has over other cryptocurrencies and therefore it is independent of government policies and regulations compared to other crypto assets.

From my point of view, the current cryptocurrency industry doesn't offer any value, I mean, it doesn't provide any utility or practical application other than speculation. So if Bitcoin becomes centralized, the market will continue to exist, and it will remain a highly speculative financial market. But if bitcoin becomes centralized, I'm pretty sure the value of bitcoin won't be what it is today. Because bitcoin's unique decentralization sets it apart from the rest of the market, it's worth more than anything else.

Makes no sense if we are considering the same old pattern for Bitcoin also. I mean if we make or consider Bitcoin a centralised asset then what difference makes it to have fiat money, gold, silver or even oil! The only way to make it stand out is the current status of Bitcoin which is decentralised nature.

Key point, if we are making it centralised then various authorities will jump in to control it. They will control the entire circulation in terms of pricing. How? The same way they do it for real estates, gasoline or even the alcohol that we consume at the night club.

It’s a slow and smart process that runs back in the field of government desk.

They will do the same to Bitcoin. It has the value because people has started accepting it over the public ledger and ability to have ownership. That’s a big thing mate and that’s why it shouldn’t be controlled. Or else it would lose the value in the time.

It is a type of cryptocurrency bitcoin is the first of the decentralized digital currencies. Because it operates without a central bank and a single administrator, the bitcoin network is not controlled by any central authority. The possibility of centralization in the future is very less because bitcoin is decentralized because everyone invests in bitcoin independently and no one has to control it. The value of other crypto currencies increases depending on the price of bitcoin. Bitcoin has been around for over a decade now and is only getting more popular with time along with this, the value of bitcoin has also increased very rapidly in the last few years.

Your question don't make sense in the first place, Bitcoin will never ever become centralized and altcoins mostly depend on Bitcoin price, so Bitcoin must survive first in order make other altcoins survive too.

However there's no point to buy altcoins because they're can't survive alone wihout Bitcoin, so I wouldn't care anything with altcoins and just stick with Bitcoin.

Decentralization is at the core of the existence of Bitcoin, hence all altcoins claiming to be on the same boat are judged according to the standard set by Bitcoin. Making BTC centralized means killing a big part of it since there can be less of the trust and confidence it is enjoying right now...therefore this can be affecting the whole crypto industry though I don't it will totally kill everything...just based on the word "altcoins" meaning they are supposed to be the alternative and they can act one if Bitcoin can fail. Having said that, I don't think this can be happening at least in the near-future.

If bitcoin is centralized and others are not, then all other cryptos will thrive. The basic benefit of using the Bitcoin is its decentralization. If it becomes centralized and manipulative like any other fiat currency, then the community will move to another coin leaving Bitcoin behind. But that doesn't mean that Bitcoin wouldn't survive. because we have centralized cryptos in the market and people are using them. But majority of the support will be gone and they will find a new decentralized cryptocurrency to use.

Bitcoin is best in its raw form. Any drastic modification might lead to a disaster.

They will certainly survive because people buy them to invest and make profit from those altcoins. There is a time for altcoins to have a pump and we still have new altcoins projects because everybody is into business with the crypto market. Bitcoin been centralized wouldn't change anything the other altcoins are also needed in the market so that investors can diversify into various investment for profit. Greedy people will always go for coins that will give high profit at the short run,this is the same problem that we are facing now even as bitcoin is decentralized. They can't be patient enough to wait for a complete circle and this long term hodli has also discouraged so many people that lack the knowledge how bitcoin circle is and has invested in some shitcoins for quick profit and they ended up into great loss.

Because the first bank in a country is centralized, are other banks going to survive? That is just how your question is. You can see different banks in your country.

People will always go for those coins, not that they have utility, most of the coins do not have utility at all but because of the profit they would give during bull run.

Yes they will survive as long as bitcoin is surviving.

It will depend on the state of the markets. On the top of my head — in a bullish market, if theoretically Bitcoin suddenly became centralized through whatever reason, the money would likely flow to other majors like Ethereum and (probably) Litecoin. In a bear market, bitcoin would be pulling everyone down with it.

Bitcoin as the ground master of all the cryptocurrencies, if Bitcoin is centralized will it have any impact to other cryptocurrencies. after this question come to my mind, on my own i decided to put all this down.

if Bitcoin were to become centralized, it could potentially impact the overall trust and decentralization principles that many cryptocurrencies holds, and is valued. this is so because Bitcoin holds the highest percentage of the entire crypto market share or capitalization with a market dominance of 46.9% as the time of writing. what this means is that a change in Bitcoins will have a ripple effect on other cryptocurrencies or altcoins as it normally regarded in the cryptosphere to the degree of the said percentage or a little off. However other cryptocurrencies might still survive if they offer unique features, use cases, or technological innovations that differentiate them from Bitcoin.

factors like community support, technological advancement, and real -world adoption can contribute to the survival of alternative cryptocurrencies in such a scenario.

 Because cryptocurrencies are basically a cryptographic contracts that exist and are running on their individual Blockchains on its own, and it doesn't hold any value. what gives it value is the concept of general acceptability, so the nature of one cryptocurrency can not affect the other if the community behind it so believe or want it so.

with all this put down here, I'm still not convinced. I need your opinions that, if Bitcoin is been centralized can other cryptocurrencies survive .