Topic: What if Bitcoin was centralized? - page 11. (Read 2472 times)
bitcoin is open source currency it's can't be centralized.
what do you think would happen to bitcoin economy if someone would actually take in control of it?
No Bitcoin cannot be centralized, it was designed to be decentralised, thanks to the founding father vision, he made it that way. Now if you are meaning to say can the government control it, it can't control the price, but it can put restrictions on its use like China recently did, or it can implement the way Japan did. That's only closest way to a centralized Bitcoin. Why would you use a centralized Bitcoin, it would kill the very function it was created for.
what do you think would happen to bitcoin economy if someone would actually take in control of it?
You and no one would use it. The only reason it's being touch right now is because of its semi decentralized nature. That is the single most gratifying thing about cryptocurrency. You take that away and you're going to destroy everything. People love bitcoin only for one reason and that is decentralization.
I am of the opinion that this is a good thing and if it happens then it is progress, so it will be organized and every country is able to operate and discipline bitcoin players ,,, but it is not easy ,, and I hope in every country give full permission to transaction bitcoin ,,
If bitcoin will be centralized it will be a great opportunity to the companies that using it as currency and to everyone to explore the new kind of trading.
The first decentralized currency is soon to implement a contentious upgrade which fundamentally changes its direction from bitcoin cash to a bitcoin settlement network. A decision that may have ramifications for decades to come or it may amount to a storm in a tea cup, but does the way such decision was made suggest bitcoin has become centralized in the hands of a few people?
If it was centralised what wil be the use of investing in it there wouldn't be any difference between the currency we use currently and btc , in a situation like this i would prefer gold more than btc if it was centralised.
In a centralised currency the controller has the power to control the price directly or indirectly, the controller of the system will also know who has invested and how much funds he holds and with this it raises tax , proof of fund etc it wouldn't be anonymous anymore.
In a centralised currency the controller has the power to control the price directly or indirectly, the controller of the system will also know who has invested and how much funds he holds and with this it raises tax , proof of fund etc it wouldn't be anonymous anymore.
what do you think would happen to bitcoin economy if someone would actually take in control of it?
I think bitcoin can be easily controlled by very rich people, rich people can easily dump and pump bitcoin prices, but they can control themselves and keep the bitcoin getting better. I guess the bitcoin will not be centralized.bitcoin may not be centralized ,,. because some of the richwho may be able to control their bitcoin value will definitely lose if the bitcoin is centralized., some of their fortunes earned through bitcoin will end if this happens ,, maybe they will control the price to get better in each period. which makes us more profitable
Bitcoin may be centralized by a manipulation of its code. But I don't think one can do this because it's an democratic environment with tons of participants. It will stay decentralized.
what do you think would happen to bitcoin economy if someone would actually take in control of it?
I think bitcoin can be easily controlled by very rich people, rich people can easily dump and pump bitcoin prices, but they can control themselves and keep the bitcoin getting better. I guess the bitcoin will not be centralized.bitcoin may not be centralized ,,. because some of the richwho may be able to control their bitcoin value will definitely lose if the bitcoin is centralized., some of their fortunes earned through bitcoin will end if this happens ,, maybe they will control the price to get better in each period. which makes us more profitable
What if some one take control of BTC? It means being Centralized, All transaction will be track together with identification and value will not increase or decrease like fiat money. No one will invest on it, It will lose it character and investors, it will dump by many people holding on it. Centralization of bitcoin can lead to downfall of it.
I absolutely agree thag if bitcoin was being centralized all transaction will be track and it can be the reason to not increase thr price of bitcoin. I also think if bitcoin was centralized no one will invest in because some people will control their money and bitcoin. Lastly, I still agree that centralization of bitcoin can lead to downfall.
To put it simply: there's no way it can be centralized (at all)
what do you think would happen to bitcoin economy if someone would actually take in control of it?
I think bitcoin can be easily controlled by very rich people, rich people can easily dump and pump bitcoin prices, but they can control themselves and keep the bitcoin getting better. I guess the bitcoin will not be centralized. it would defeat the purpose of bitcoin
Yes, and people would leave it for some other coins. The reason Bitcoin is so popular is that nobody is in control. A country going down in debt won't affect it and no bank or government will be able to take it from you. They can fight it and mess with it but it will be a long and slow process unlike repossession, seizure and other legal actions they can do with your money. 
If Bitcoin was centralized then it would probably functioning like any other currency and we wouldn't probably be here. It wouldn't be so successful and have so many users, it wouldn't represent anything new and progressive so I actualy don't see the point in such discussions that lead to nowhere.
what do you think would happen to bitcoin economy if someone would actually take in control of it?
Well this is another stupid thread, if bitcoins were centralized then don't even thing it would have reached where it is now. Bitcoin's main selling point is being decentralized and that played a huge part in its success. Removing a valuable trait would result to a completely different scenario. If it was centralized I don't think it would have even lifted an inch off the ground.
what do you think would happen to bitcoin economy if someone would actually take in control of it?
I think it will be bad for us,you will not able to see the great volatility of bitcoin as it is moving now, it will be moving in some standard average trading range.Next you will see the High Fess, high premium and high taxes that you need to pay to the Bitcoin owner or to the ruling government.You wont see that much amount of craze and popularity,as it now because of high price and high amount of participation. It wont be a good investment if it is ruled by one single management, because it will be hard for you to see those 100 and 1000 amount of returns.
what do you think would happen to bitcoin economy if someone would actually take in control of it?
The whole ecosystem of Bitcoin has been designed so no one appears to be in center alone.
Over the period of 8 years, now it is assured that nor supply, neither the mining could be centralized.
Even with the best of hacking skills, no one could steal the considerable part of supply as it is already fragmented to large audience. On the other hand, crypto algorithm ensures that mining also can't be centralized.
Bitcoin economy will probably collapse because of lack of support. Bitcoin is based on the idea that it is decentralized and no one will have autonomy to control it. That is what we want from bitcoin. If it gets removed from the equation, a lot of people will dump their bitcoin and go to another crypto.
We'd just hardfork it or move to a new alt coin. Bitcoin is more than just the sum of its miners. If it were centralized it would lose its value and whoever seized Bitcoin would be king of nothing.
Zzzing!
So you mean like Eth is lol 
Zzzing!
what do you think would happen to bitcoin economy if someone would actually take in control of it?
That is not possible because the system was built on decentralization and unless maybe other currency overthrow btc and that currency is decentralized meaning that is what the world wants then it will not happen. Jump to: