Topic: If bitcoin is not decentralized currency what would have happen to bitcoin - page 2. (Read 461 times)

Well for starters it's because it's even decentralized that's why it's adoption has grown so massively and moreover nobody ever complains about a dormant project, it's always the popular things and when it comes to the crypto world Bitcoin is like the Godfather of all cryptocurrency and it's because of its massive growth that has lead to so many altcoins that are running wild in the market.

The number one thing that government hates most is the fact they are limited in terms of controlling their citizens financial assets and Bitcoin itself grants the public this leverage and this has also spark the hatred or should I call dislike of Bitcoin by government but I feel there would be a massive change in the affairs of both parties.

Yes that is the more reason why government keep baning anything crypto currencies. Due to it decentralized nature. If bitcoin or crypto currency were to be centralized, I think bitcoin would have becomes legal tender to many countries. And I believe the government is working towards producing there own coin which will be more stable and centralized compered to bitcoin. But I don't see how it will still beat bitcoin or gain massive population as bitcoin because they will be classified as stable altcoin which will not be positively volatile.  And the reason why people love bitcoin is due to its higher volatility.  And when something is not volatile then it's nothing worth risking for or investing for.

 Because government can't have total control over it.

Firstly, If Bitcoin was not decentralised then no one would have invested into Bitcoin and it would have ended up like other commodities but without any value since it's not physical. Government would have patronized every single thing like the withdrawal limits, deposit limits, etc.

Coming back to second part of the topic, mixers has been receiving attention from government as it may be used for illegal activities like money laundering, terror funding and etc which used to happen even before existence of Crypto, we have seen what happened with Sinbad hence the forum don't want to get into radar of government by allowing mixer campaigns to advertise.

Assuming is a centralized form by now government would have taken over bitcoin but since bitcoin is decentralized form that is why government is looking for a different ways to subdue bitcoin from my understanding, many people will not know the reason why government is interested in bitcoin being a centralized ways.
For me and the way I dey see bitcoin it will last except that satoshi come today and abolish the existence of bitcoin in which I know very well that bitcoin existence is something that is indifferent,  so basically I know that bitcoin is good  for government to put eye on it because of people who is misusing it for money laundering.

One of the reasons why our government them dey fear to legalize Bitcoin for this our country nah because of say them they think say one day Bitcoin fit crash and pipo money go lose, but no be so e be.
Most time I dey think am say our government them no dey think the positive side of Bitcoin but them dey think ot the negative side, if to say them legalize Bitcoin for this country, at least we for no dey too dey reason some kind of things, just like the way e happen during the past cashless economy period.
As Bitcoin dey decentralized con make the whole matter dey sweet to the way wey be say governments no go fit control am, although, possibility self dey say, if to say government self e no dey decentralized government for still accept am as e be say them go fit control am too, but as them no fit, con make them no won accept am.

One thing dey certain say if you try know everything wey dey happen Dem fit kill you. for this naija eeh no be say our government dey against Bitcoin oh but na because say them just be representative of an external government na why you see say them dey follow do small things against Bitcoin. for other countries wey know the power behind Bitcoin them dey fight am weytin no nice, like them no want any thing wey get to do with equalizing force to exist.

na true say na because of Satoshi anonymity naim make them never fall bitcoin, if to say the guy show face him for Dom die or dey life imprisoned.
The criminal activities wey dey happen around bitcoin or cryptocurrencies at large fit still be this government their plan or Dem get group of hackers wey dey do am for them to give solid reason for them to push bitcoin away.

I get many theories about this case of Bitcoin and the world power and I go settle down write am out make everybody read one day.
Anyways I just pray make Satoshi no still show face till eternity because eh the charge him go face go too much for nothing.

If Bitcoin is decentralized, many things will happen.
Governments will try to take control of bitcoin especially as they see that itis the pioneer crypto coin so that any other coin coming into crypto world will be registered under government so that will be controlling the entire crypto world; and it has violated the bitcoin principles of given us financial freedom.
If it was centralized, bitcoin will not have this value and reputation it has because they would have controlled it and set some limits and regulations to in order to being control for their selfish interest.

If Bitcoin wasn't decentralized, there would have been no need for the innovation in the first place, as there would have been no different between it and the fiat system of money. It would have looked as if we have two system of money sharing the same similarities and still under the control of a centralized authorities. It was these kind of oppression from the government that Satoshi Nakamoto saw, that made him/them invent Bitcoin.

This na true talk OP, by now dey for done band Bitcoin tey tey... The policy of this government be say dey no like anything outside the country currency as dem dey fear say e fit detoriate the value of the county currency.

Now wey be say this crypto scam come dey well well now the government for done use am as better opportunity to use rule out Bitcoin but God pass man as we continue dey appreciate Satoshi Nakamoto for making it decentralized be like him foresee the future of Bitcoin with contradiction with many government around  the world.

I don't think dem for destroy.am but dey for control Bitcoin nd na dat thing dem wan do but dey no fit do am. Di decentralized nature of Bitcoin make Bitcoin stay strong but make we know say Bitcoin e no dey 100% decentralized because if really understand weti dey happened for the Blockchain dis days you go confirmed shey Bitcoin no get 100% decentrality. If Bitcoin e dey decentralized how come di ordinals come enter di Blockchain dey disturb di network dey increase di transaction fee?

Or na di government dey bring dis ordinals to do Bitcoin Blockchain to destroy Bitcoin? Because me now I no come understand di whole thing again. If Bitcoin e no dey take time im go loss him respect give another coin because dis high transaction fee. As e be like dis campaign managers e don dey start to pay with another coins and dis go make people to leave Bitcoin dey use anoda coins. Oda people sef e don talk am like dis before. Di decentrality of Bitcoin e get as e be now.

In short, if bitcoin were not a decentralized platform, it would have been owned and controlled by the US Dollars for a long time now. Even when bitcoin remains decentralized, the role that the dollar plays over it is still quiet significant going by the USDT changes which is one of the most popular and used forex exchanges today. So, imagine if you are going to only invest in the bitcoin and your plan is to use it for transactions, the need to use the USDT is quite significant before you can exchange it to your local currency.

Now imagine if it was not an open-source and decentralized platform in the first place. I don't think there will be anything instrumental and unique to talk about the Bitcoin any longer as it will be treated as other currencies floating in the market.

Although, you get point because the decentralization of Bitcoin dey make government dey fear to adopt am because dem go lose control of money supply and other monetary policies but that's not the only reason and e pass wetin you dey think here. Government dey right to some extent if you pay attention and read their own side of the story. Money laundering and other illegal monetary activities don dey rampant for cryptocurrency and e dey among reasons wey make government no wan approve am.

Talking about the mixers, which mixer dem banned wey no dey involved in money laundering? Criminals dey use this mixers to carryout dem activities on a low key and na wetin dey cause dem ban be that. You know crypto transactions dey hard to trace and imagine Nigerian government don approve am, corruption go increase no be small. Even when the government is not taking serious action on those who dey steal our money, at least we still know people who divert our money and the amount wey dem divert because it was traced to their account but if na bitcoin ahh otilo.

The instability of cryptocurrency go make the financial system dey shake and become instable and government dey try avoid am too. Na why dem no wan approve am. Abi you go happy to wake up one day and see your country reserve on -95? If na you dey on government, you go like am? 

Government dey try to protect dem self and the country economy and make we no too blame dem because I believe with time everything go work in our favor. If proper regulation go dey cryptocurrency, government go rush approve am but the decentralization of Bitcoin go reduce sha.

My brother no be small thing oo, this our government dem, the way Dem dey do their things come dey make am obvious say dem nor like better thing and na only their bele Dem dey reason, you can imagine Bitcoin wey come with many opportunities naim Dem dey fight like this, the decision wey Satoshi take to make emself anonymous naim be the best if not, Dem for don imprison am or try to carry tax kill the project. And thank God say e take the decision make the project a decentralized one if not, Bitcoin for nor dey exist today sef.

Wattin dey pain me na be say, if you no fit stop am join am, but that one nor they enter their head, no be say na even illegal something sef, Bitcoin come with opportunity wey fit help the government sti help the entire contri at large, so why fight your destiny helper? Just because Dem no fit dictate for Bitcoin naim just dey pain Dem.

The problem government gives bitcoin every day by day is it same thing government give all this fiat exchangers, that means if bitcoin have not fall to the category of decentralization that means by now bitcoin won't have exist again, the decentralized bitcoin is today is what that keeps bitcoin and its what makes bitcoin to exist more and more from my understanding...do you know that the reason why some of the mixes is being ban in the forum is not that they committed much crime but government is against them because they are against bitcoin, so if bitcoin wasn't in decentralized form they would have rubbished bitcoin by now.