Topic: Is the bitcoin decentralized? (Read 1831 times)
In the world of Bitcoin, there is no central entity / institution that prints money, but the money is printed by the users. This is what causes Bitcoin to emerge as a decentralized system.
To begin with, I want to apologize for my English. This is Google translator 
I hope that the meaning will be clear.
Dear community. I wanted with your help to answer for yourself the following question: Is the bitcoin and the rest of the crypto currency decentralized so far? Decentralization is a state in which there is no single center. But we all know that most of the computing power, which in the majority is signed by the blocks, is concentrated in China (since almost all the computer technology associated with mining is produced there) and even in South Korea. And in fact the issue of accepting / not accepting SegWit is decided by the Chinese with the Koreans neighbors. All is well, but the zone of distribution of crypto-currency is not limited only to China and South Korea, what to do if there is some kind of prediction stone, and ordinary users of bitcoin will disagree with the miners on any issue, even scaling, what then? The answer is obvious, the owners will take the upper hand of pools ... again the question is whether Bitcoin is decentralized? thanks for answers
I hope that the meaning will be clear.Dear community. I wanted with your help to answer for yourself the following question: Is the bitcoin and the rest of the crypto currency decentralized so far? Decentralization is a state in which there is no single center. But we all know that most of the computing power, which in the majority is signed by the blocks, is concentrated in China (since almost all the computer technology associated with mining is produced there) and even in South Korea. And in fact the issue of accepting / not accepting SegWit is decided by the Chinese with the Koreans neighbors. All is well, but the zone of distribution of crypto-currency is not limited only to China and South Korea, what to do if there is some kind of prediction stone, and ordinary users of bitcoin will disagree with the miners on any issue, even scaling, what then? The answer is obvious, the owners will take the upper hand of pools ... again the question is whether Bitcoin is decentralized? thanks for answers
Definitely yes!, Bitcoin is known as the first decentralized cryptocurrency in the world. It has no central management, control, and system. Bitcoin was ran by peoples that uses electronic equipments like super computers. Decentralized money can grew larger that national currency, we all know that the vale of bitcoin was growing bigger. Bitcoin also have rules, process, and operations but this rules can't be change with the approval of the million users, like i said a while ago bitcoin was controlled by users.
Bitcoin is decentralized. This is perhaps one of the best features of Bitcoin. Perhaps the leading reason why Bitcoin really kicks hard shortly after being introduced to the public. Your bitcoin is yours alone. When you transact with your bitcoin, it is on a peer-to-peer basis, without passing through some middle establishments.
If bitcoin is a decentralized currency, then why the whole community has become a hostage situation on 1 August? You someone asked your opinion? It was strongly decided and all set before the fact. This suggests that bitcoin is too centralized.Bitcoin is decentralized. This is perhaps one of the best features of Bitcoin. Perhaps the leading reason why Bitcoin really kicks hard shortly after being introduced to the public. Your bitcoin is yours alone. When you transact with your bitcoin, it is on a peer-to-peer basis, without passing through some middle establishments.
If bitcoin is a decentralized currency, then why the whole community has become a hostage situation on 1 August? You someone asked your opinion? It was strongly decided and all set before the fact. This suggests that bitcoin is too centralized.
Hey i was wondering about bitcoin, lets say they are cutting the miners now with Segwit and Lightning and whatever. Will we get a rice in bitcoin price once we get to the point wen the core developers get cut by the code, lets say the code will code itself with superhigh artificial intelligence? Will we / the core defs accept it? And once code wins how decentraliced will bitcoin really be?
Bitcoin is decentralized. This is perhaps one of the best features of Bitcoin. Perhaps the leading reason why Bitcoin really kicks hard shortly after being introduced to the public. Your bitcoin is yours alone. When you transact with your bitcoin, it is on a peer-to-peer basis, without passing through some middle establishments.
Well, yeah, decentralization is one of the biggest advantages of BTC. Its not controlled by any central authority and its value thus does not depend on the economy of a certain state alone. I think its peer-to-peer structure along with decentralization are really essential features of BTC to be a currency of the future.
Yes bitcoin is decentralized because it is not depend only on one community or organization it is work as global and no one can stop the price of bitcoin because there is no authority that holds it everyone have an opportunity to holds it 
Bitcoin is created by satoshi as a decentralized currency.Since majority of mining farms are found in china,they had an upper hand in bitcoin trading and so they manipulated bitcoin price many times by dumping their bitcoins.But after actons of PBOC,their dominant role has almost ended in bitcoin environment.
Yes everyone know that it is created by satoshi but who is satoshi because everyone want him know everyone want him explore that how he had bring that idea to world because he is one of the intelligent person on the earth so I'm confused that his real name is satoshi or we can say that it is bill gates because he is also the richest person on the earth.There are many speculation who satoshi really is, but no one really knows who he was, he was really active back then on the development of bitcoin up to December 2010, he was claimed to be living in japan because of his name but they really thing that his name was only a code or non really existing because speculation about the true identity of Nakamoto has mostly focused on a number of cryptography and computer science experts of non-Japanese descent, living in the United States and Europe so many has said that he is not really japanese or if he is that he is just living in the said country, well there are no further information if bill gates can be a candidate to be Satoshi, but they have name a few person that can really be Satoshi Nakamoto, and there are persons that are claiming that they are Satoshi, but they are lacking proof that is why Satoshi is still a mystery up till now.
Well, yeah, decentralization is one of the biggest advantages of BTC. Its not controlled by any central authority and its value thus does not depend on the economy of a certain state alone. I think its peer-to-peer structure along with decentralization are really essential features of BTC to be a currency of the future.
Bitcoin is created by satoshi as a decentralized currency.Since majority of mining farms are found in china,they had an upper hand in bitcoin trading and so they manipulated bitcoin price many times by dumping their bitcoins.But after actons of PBOC,their dominant role has almost ended in bitcoin environment.
Yes everyone know that it is created by satoshi but who is satoshi because everyone want him know everyone want him explore that how he had bring that idea to world because he is one of the intelligent person on the earth so I'm confused that his real name is satoshi or we can say that it is bill gates because he is also the richest person on the earth. 
To begin with, I want to apologize for my English. This is Google translator I hope that the meaning will be clear.
Dear community. I wanted with your help to answer for yourself the following question: Is the bitcoin and the rest of the crypto currency decentralized so far? Decentralization is a state in which there is no single center. But we all know that most of the computing power, which in the majority is signed by the blocks, is concentrated in China (since almost all the computer technology associated with mining is produced there) and even in South Korea. And in fact the issue of accepting / not accepting SegWit is decided by the Chinese with the Koreans neighbors. All is well, but the zone of distribution of crypto-currency is not limited only to China and South Korea, what to do if there is some kind of prediction stone, and ordinary users of bitcoin will disagree with the miners on any issue, even scaling, what then? The answer is obvious, the owners will take the upper hand of pools ... again the question is whether Bitcoin is decentralized? thanks for answers
You are overgeneralizing about Chinese miners. They are indeed from one country but are different. However, the threat is from Chinese government who if try to halt mining in China, there could be a problem. But that is least to happen. What all I know is should the Chinese miners suddenly stop mining, other competitors would rise within 24 hours. I hope that the meaning will be clear.Dear community. I wanted with your help to answer for yourself the following question: Is the bitcoin and the rest of the crypto currency decentralized so far? Decentralization is a state in which there is no single center. But we all know that most of the computing power, which in the majority is signed by the blocks, is concentrated in China (since almost all the computer technology associated with mining is produced there) and even in South Korea. And in fact the issue of accepting / not accepting SegWit is decided by the Chinese with the Koreans neighbors. All is well, but the zone of distribution of crypto-currency is not limited only to China and South Korea, what to do if there is some kind of prediction stone, and ordinary users of bitcoin will disagree with the miners on any issue, even scaling, what then? The answer is obvious, the owners will take the upper hand of pools ... again the question is whether Bitcoin is decentralized? thanks for answers
Bitcoin is created by satoshi as a decentralized currency.Since majority of mining farms are found in china,they had an upper hand in bitcoin trading and so they manipulated bitcoin price many times by dumping their bitcoins.But after actons of PBOC,their dominant role has almost ended in bitcoin environment.
To begin with, I want to apologize for my English. This is Google translator I hope that the meaning will be clear.
Dear community. I wanted with your help to answer for yourself the following question: Is the bitcoin and the rest of the crypto currency decentralized so far? Decentralization is a state in which there is no single center. But we all know that most of the computing power, which in the majority is signed by the blocks, is concentrated in China (since almost all the computer technology associated with mining is produced there) and even in South Korea. And in fact the issue of accepting / not accepting SegWit is decided by the Chinese with the Koreans neighbors. All is well, but the zone of distribution of crypto-currency is not limited only to China and South Korea, what to do if there is some kind of prediction stone, and ordinary users of bitcoin will disagree with the miners on any issue, even scaling, what then? The answer is obvious, the owners will take the upper hand of pools ... again the question is whether Bitcoin is decentralized? thanks for answers
For you able to know mate, bitcoin decentralization was really it is, in fact, decentralization is one of the number one good features of bitcoin. Through this things many coins cloned bitcoin that's why altcoin rising up in digital currency. But there few altcoin became I hope that the meaning will be clear.Dear community. I wanted with your help to answer for yourself the following question: Is the bitcoin and the rest of the crypto currency decentralized so far? Decentralization is a state in which there is no single center. But we all know that most of the computing power, which in the majority is signed by the blocks, is concentrated in China (since almost all the computer technology associated with mining is produced there) and even in South Korea. And in fact the issue of accepting / not accepting SegWit is decided by the Chinese with the Koreans neighbors. All is well, but the zone of distribution of crypto-currency is not limited only to China and South Korea, what to do if there is some kind of prediction stone, and ordinary users of bitcoin will disagree with the miners on any issue, even scaling, what then? The answer is obvious, the owners will take the upper hand of pools ... again the question is whether Bitcoin is decentralized? thanks for answers
centralized or regulated currency. And bitcoin was stand in unregulated or decentralize where none of the highest or any officials in the government has no capability to control it unlike physical currency or bank.
Bitcoin is becoming a joke. It used to be good, but this is what happens in democracies; 51% of the people fuck over the 49%.
Essentially, now that the 'get rich quick' crowd has showed up and ruined it, it will begin to devalue.
Here's why:
A. Exchanges are totally centralized, anyone doing business, either buying/selling bitcoin is under 'heavy' regulations, FINCEN, etc...
B. You are now required to have more ID to buy bitcoin than to open a normal bank account....and want to know the worst part?
C. The community cheers this behavior on. They claim it will lead to 'bitcoins legitimization', thus the get rich quickers think they will become super-billionaries.
Here's why bitcoin will ultimately fail as currency:
#1. Bitcoin is/will become so overregulated that the average user will see absolutely zero real-world use-base for it, especially when it is 10x easier to open a 'normal' bank account rather than deal with absurd practices like poloniex (want photo of you with Id, and blood samples, sperm lol), they want to know where money came from..laundering, terrorism acts, kyc, etc.. Sounds like heavy government involvement to me...The theory of bitcoin going to $500,000 is, as of now, irrelevant. The bitcoin has has zero real-world application that originally gave it appeal. (Anonymity, Decentralization, no governments, privacy, all gone). Now, instead of fight it, the idiot users cheer on government regulation! Government will make them soosoo rich...government helps 'legitimize' bitcoin )(lmao)....They need the government to wipe their asshole too, apparently.
#2. If by magic the price does increase anymore, it will cost more than the price of the small transaction to pay the network fee. Why would anyone want to use this payment method? They won't. Its a waste of money.
#3. Back to Centralization...as I said, 51% of the people fuck over the other 49%, ergo, centralization/democracy. (Likely a few people control most of the coins & hash power anyway, so apparently it was always like this (oligarchy.)
The bitcoin will be eaten from within over the coming months, and we will see a sharp decline in value as the community slings shit like monkeys at each other.
I'm off to find another coin...
About your A point, there are decentralized exchanges you can use them if you do not like to use centralized ones and most of the time you do not need to identify yourself there either, so alternatives are being created in order to decentralize bitcoin in some levels. Essentially, now that the 'get rich quick' crowd has showed up and ruined it, it will begin to devalue.
Here's why:
A. Exchanges are totally centralized, anyone doing business, either buying/selling bitcoin is under 'heavy' regulations, FINCEN, etc...
B. You are now required to have more ID to buy bitcoin than to open a normal bank account....and want to know the worst part?
C. The community cheers this behavior on. They claim it will lead to 'bitcoins legitimization', thus the get rich quickers think they will become super-billionaries.
Here's why bitcoin will ultimately fail as currency:
#1. Bitcoin is/will become so overregulated that the average user will see absolutely zero real-world use-base for it, especially when it is 10x easier to open a 'normal' bank account rather than deal with absurd practices like poloniex (want photo of you with Id, and blood samples, sperm lol), they want to know where money came from..laundering, terrorism acts, kyc, etc.. Sounds like heavy government involvement to me...The theory of bitcoin going to $500,000 is, as of now, irrelevant. The bitcoin has has zero real-world application that originally gave it appeal. (Anonymity, Decentralization, no governments, privacy, all gone). Now, instead of fight it, the idiot users cheer on government regulation! Government will make them soosoo rich...government helps 'legitimize' bitcoin )(lmao)....They need the government to wipe their asshole too, apparently.
#2. If by magic the price does increase anymore, it will cost more than the price of the small transaction to pay the network fee. Why would anyone want to use this payment method? They won't. Its a waste of money.
#3. Back to Centralization...as I said, 51% of the people fuck over the other 49%, ergo, centralization/democracy. (Likely a few people control most of the coins & hash power anyway, so apparently it was always like this (oligarchy.)
The bitcoin will be eaten from within over the coming months, and we will see a sharp decline in value as the community slings shit like monkeys at each other.
I'm off to find another coin...
As of today the bitcoin is slowly getting centralized.
Different priorities to different people. A lot of new people who go into the Bitcoin scene post-2013 seem to care less about a "freedom currency" and more about making money and achieving a higher transaction rate. While it may already be partially centralized that's no reason to not continually resist changes that would lead to additional centralization.
To begin with, I want to apologize for my English. This is Google translator I hope that the meaning will be clear.
Dear community. I wanted with your help to answer for yourself the following question: Is the bitcoin and the rest of the crypto currency decentralized so far? Decentralization is a state in which there is no single center. But we all know that most of the computing power, which in the majority is signed by the blocks, is concentrated in China (since almost all the computer technology associated with mining is produced there) and even in South Korea. And in fact the issue of accepting / not accepting SegWit is decided by the Chinese with the Koreans neighbors. All is well, but the zone of distribution of crypto-currency is not limited only to China and South Korea, what to do if there is some kind of prediction stone, and ordinary users of bitcoin will disagree with the miners on any issue, even scaling, what then? The answer is obvious, the owners will take the upper hand of pools ... again the question is whether Bitcoin is decentralized? thanks for answers
I hope that the meaning will be clear.Dear community. I wanted with your help to answer for yourself the following question: Is the bitcoin and the rest of the crypto currency decentralized so far? Decentralization is a state in which there is no single center. But we all know that most of the computing power, which in the majority is signed by the blocks, is concentrated in China (since almost all the computer technology associated with mining is produced there) and even in South Korea. And in fact the issue of accepting / not accepting SegWit is decided by the Chinese with the Koreans neighbors. All is well, but the zone of distribution of crypto-currency is not limited only to China and South Korea, what to do if there is some kind of prediction stone, and ordinary users of bitcoin will disagree with the miners on any issue, even scaling, what then? The answer is obvious, the owners will take the upper hand of pools ... again the question is whether Bitcoin is decentralized? thanks for answers
Definitely yes!, Bitcoin is known as the first decentralized cryptocurrency in the world. It has no central management, control, and system. Bitcoin was ran by peoples that uses electronic equipments like super computers. Decentralized money can grew larger that national currency, we all know that the vale of bitcoin was growing bigger. Bitcoin also have rules, process, and operations but this rules can't be change with the approval of the million users, like i said a while ago bitcoin was controlled by users.
To begin with, I want to apologize for my English. This is Google translator I hope that the meaning will be clear.
Dear community. I wanted with your help to answer for yourself the following question: Is the bitcoin and the rest of the crypto currency decentralized so far? Decentralization is a state in which there is no single center. But we all know that most of the computing power, which in the majority is signed by the blocks, is concentrated in China (since almost all the computer technology associated with mining is produced there) and even in South Korea. And in fact the issue of accepting / not accepting SegWit is decided by the Chinese with the Koreans neighbors. All is well, but the zone of distribution of crypto-currency is not limited only to China and South Korea, what to do if there is some kind of prediction stone, and ordinary users of bitcoin will disagree with the miners on any issue, even scaling, what then? The answer is obvious, the owners will take the upper hand of pools ... again the question is whether Bitcoin is decentralized? thanks for answers
I hope that the meaning will be clear.Dear community. I wanted with your help to answer for yourself the following question: Is the bitcoin and the rest of the crypto currency decentralized so far? Decentralization is a state in which there is no single center. But we all know that most of the computing power, which in the majority is signed by the blocks, is concentrated in China (since almost all the computer technology associated with mining is produced there) and even in South Korea. And in fact the issue of accepting / not accepting SegWit is decided by the Chinese with the Koreans neighbors. All is well, but the zone of distribution of crypto-currency is not limited only to China and South Korea, what to do if there is some kind of prediction stone, and ordinary users of bitcoin will disagree with the miners on any issue, even scaling, what then? The answer is obvious, the owners will take the upper hand of pools ... again the question is whether Bitcoin is decentralized? thanks for answers
Bitcoin is really decentralized. Unlike traditional banks you do not have control over the money, the banks uses your money in their lending but does not give away to you their income from your money. In this centralized scene only the banks are benefiting from your money. Bitcoin and cryptocurrency on the other hand is not the same with the banks, here you become your own bank since you have control over your wallet. In cryptocurrency whatever gains you have from the increased profit you alone will benefit from it, it is yours to control and use. Compared to banks cryptocurrency is much better since you can even trade or invest it online.
The writing is on the wall.
I saw through all that rhetoric. I wish more people paid more attention, instead of listening to social media propaganda. I have been buying Bitcoin only from 2015 but I only started paying attention to the news from early this year. I listened to all sides of the debate, it became clear to me the Chinese miner story was all BS intended to mislead people from the real problem. I hope the community will wake up before its too late.
Me too and nearly identical path for me
I believe bitcoin is a revolutionary technology that still has a chance to be an amazing success. But to think the direction of it's development is now under the control of a corporation with it's own vested interests and agenda is worrying to say the least.
Blockstream/DCG/Axa need to be entirely removed from the Core dev picture so that they stop determining the direction of bitcoin development. The conflict of interest is just too great.
Bitcoin development must go back to being impartial, for the benefit of bitcoin and its community as a whole.
Bitcoin is in the process of being centralised around a corporation called Digital Currency Group. It's holdings are listed below.
Notice the presence of Blockstream that controls Core devs but also Coinbase (biggest exchange), Coindesk, Bitpay (payment processor) and 200 others companies.
Notice the presence of Blockstream that controls Core devs but also Coinbase (biggest exchange), Coindesk, Bitpay (payment processor) and 200 others companies.
This is scary. I knew things were bad but I didnt realise they were this bad.
With all the manic finger pointing at the "evil chinese miners cartel" coming from core devs, it is difficult to see the big picture.
I saw through all that rhetoric. I wish more people paid more attention, instead of listening to social media propaganda. I have been buying Bitcoin only from 2015 but I only started paying attention to the news from early this year. I listened to all sides of the debate, it became clear to me the Chinese miner story was all BS intended to mislead people from the real problem. I hope the community will wake up before its too late.
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