Topic: What if Bitcoin was centralized? - page 2. (Read 2472 times)
if its centralized of course all bitcoin holders have to pay taxes haha, to the one who controls and secure our bitcoin, and its easy to hack, because he/she can see our bitcoin balances, and if it reaches high enough for him/her , he/she will hack your account and get all your bitcoins inside your wallet, correct me if im wrong haha
It would be similar to USD, or if it would be semi-centralized, it would be similar to ripple. I think it would lost its whole idea and would be another digital currency.
what do you think would happen to bitcoin economy if someone would actually take in control of it?
If it were a centralized currency then Bitcoin would be a usual money for sure, the price of Bitcoin wouldn't increase at this rate. then people didn't respond as like they are doing it now. I think the main reason for becoming popular Bitcoin is the high price so that without it the profit wouldn't bring. from my perception is that centralized system is not match up of the cryptocurrency system. 
what do you think would happen to bitcoin economy if someone would actually take in control of it?
I like bitcoin because it is decentralized but when the time comes that somebody will be controlling the flow of bitcoin, I will not continue my investment anymore.
But definitely nobody can control because because it is decentralized.
What do you mean take control of it? Theoretically if someone has more than 50% of the hashing power in the network it can attack the network and double spend, but this is very unlikely because that would instantly result in a collapse of the whole network. People will lose faith on BTC and stop using it. Currently, people with hash power earn money only if the network is live and people believe in it, so they have no incentive whatsoever to do such an attack.
if bitcoin is controlled by a person or group then bitcoin will be used for their benefit, what if the bitcoin control is a criminal? so bitcoin will be destroyed and criminals are getting harder to deal with.
Even though most investors claim that one of the reasons why they invest into bitcoins is because it is decentralized, I think that even when it’s centralized and controlled by someone, people are still going to invest because they are going to get some really good profits out of it. 
Once bitcoin becomes centralized it will only be meant for the elites alone. They will make it in a way that only few will be able to afford it.
We should be more thankful that bitcoin was not centralized because if its centralized then theres no bitcoin right now. This technology is great and this is why it is still on its level, and hopefully bitcoin will never be centralized.
if bitcoin is controlled by a person or group then bitcoin will be used for their benefit, what if the bitcoin control is a criminal? so bitcoin will be destroyed and criminals are getting harder to deal with.
If bitcoin was centralized right from the beginning of its creation it will not be used like it is used now because it will not be different from fiat currency and it will also not be possible to mint it. People are in crypto currencies because they are not control by any one by definition but in the real sense we have the big whales that control and pump and dump coins to an extent.
In my little noob unterstanding it is not possible to take control of it. Only if you own 51% of all BTC
Recently there are many whales have more than 51% of bitcoin circulating amd they keep in touch so they can take control of bitcoin market and bitcoin market can go depending on their thought.
I think thats not the control that op asking, i think become centralized its not good ifea if they can make new supply of bitcoin.
Once bitcoin becomes centralized it will only be meant for the elites alone. They will make it in a way that only few will be able to afford it.
If this happens, the centralization of bitcoin will immediately cause the collapse of the price of bitcoin, then the collapse of the bitcoin community. After so many years of experience, we know it's hard to do it, and even the early bitcoin miners can't do it together.
If bitcoin will be centralized, it will be limited for us to take the day to day transactions and as it is manipulated from a group or a person. But, I don’t think it will heppen because bitcoin is decentralized crypto currency and it increased its value and free from hacked unlike other currencies.
what do you think would happen to bitcoin economy if someone would actually take in control of it?
I think it wil never happen because bitcoin is a natural decentralize its more good if bitcoin is decentralized we expect that bitcoin will value will increase more if bitcoin reached the limited supply and if it happens decentralized is much better because bitcoin price will become more strong.
I don't think it will happen since bitcoin is not under government control because of its blockchain system, and if it will be centralized it does not differ to eth then. Decentralize is one of the features of bitcoin.
If Bitcoin were centralized, then it would have been no different than Fiat where it's being manipulated by a small group of rich people. Bitcoin is what it is today because it is decentralized. Without decentralize, it will not make any sense investing in it.
Decentralization is the single most important characteristic of Bitcoin. It is the core property of the network on which its entire value is based, regardless of whether you measure that value in economic or social terms. This is what Bitcoin is: a decentralized currency. Everything else, every other property or feature, every other advantage that it can offer, is fed by this singular beating heart.
But decentralization is not a simple black and white thing. It is not a simple matter of a tick or cross in a box as to whether Bitcoin is decentralized or not. There are varying degrees of centralization and decentralization. Crucially, it is important to recognize that Bitcoin is not entirely decentralized, and that the degree to which it is can vary over time and be influenced by a wide range of different factors.
But decentralization is not a simple black and white thing. It is not a simple matter of a tick or cross in a box as to whether Bitcoin is decentralized or not. There are varying degrees of centralization and decentralization. Crucially, it is important to recognize that Bitcoin is not entirely decentralized, and that the degree to which it is can vary over time and be influenced by a wide range of different factors.
If it would happen it would mean the force has lost against the dark side. However the force will always be stronger than the dark side. 
If bitcoin was centralized from start, i think he can beat max price 1 usd
Something like webmoney system
Something like webmoney system
If government handle the bitcoin,we have pay more taxes and transaction charges also.i don't want bitcoin is centralized.
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