Topic: What if Bitcoin was centralized? - page 4. (Read 2469 times)
It would rid of the attributes of bitcoin that gives the appeal. Added taxes, more charges, and the control will make this restrictive. That will cause the disinterest of the people.
what do you think would happen to bitcoin economy if someone would actually take in control of it?
I think it won't be as much as popular as it is now. Its decentralization is what makes it unique. Governments are not able to put tax on every transaction because of its blockchain technology and characteristic of being decentralized. But if it will be, I think it will be more secured the only thing that I am not sure if it will be still interesting.
what do you think would happen to bitcoin economy if someone would actually take in control of it?
I think it won't be as much as popular as it is now. Its decentralization is what makes it unique. Governments are not able to put tax on every transaction because of its blockchain technology and characteristic of being decentralized. But if it will be, I think it will be more secured the only thing that I am not sure if it will be still interesting.
If bitcoin was centralized it will not reach its price today. The reason bitcoin becomes in-demand is because it is decentralized. Once it centralized, the people will turnover their investments before it is too late for them.
my response may be the bitcoin price will be unstable at the time it happens but i hope this will never happen ...
One unique characteristic of Bitcoin is that it is decentralized. So, if time comes and someone will be controlling it, then it will lose its purpose. It will end up being the same with our current currency.
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.
Yeah you are right and I also do not agree if bitcoin become centralized because now everyone can invest in bitcoin freely and then some people will dominate bitcoin network and it is not good. Then many people will withdraw their investment and the first will be me because I don’t like centralization of bitcoin at any cost. I want a free business and not the one which is hold by some people.
if bitcoin was centralized then i guess it would have ups and down along along in the midst of the currency, if bitcoin was centralized i think that the economy would be shaped utterly differently, may be jobs would be exchange, i think that bitcoin along with has greater inadvertent of making the economy adjoin difficult and improved, because of bitcoin things would be utterly osscillate, and lastly bitcoin can be enormously valuable, and has the high flier to badly be poorly the economy of one's country.
Hello ) Then it will be as traditional bank I am not sure about bitcoin on 100% I think he have some "controllers". Answer on your question then it will be usual think and traditional things.
If bitcoin becomes a centralized system, automatically the demand for the same gets declined. Because this will start functioning same as the banking services. The uniqueness will be lost. In reality such a situation won't exist making bitcoin to be a centralized asset same as gold and stocks.
what do you think would happen to bitcoin economy if someone would actually take in control of it?
If bitcoin was centralized it would be a little better I think,reason why is you can file complain on the organization that control bitcoin
to lower their cost on the transaction fees.
someone like privat persons? - i would manipulate the market )
what do you think would happen to bitcoin economy if someone would actually take in control of it?
will be very bad version of bank system which users not have full control of them accounts.
bitcoin is better now fee and can’t stopped
what do you think would happen to bitcoin economy if someone would actually take in control of it?
Supply and demand is controlled. Just like capitalism. Everything is controlled for the sake of profiteering. Bitcoins will now taxed the same way as money. The one who is in control of bitcoins will regulate everything from the very bitcoin we receive and give to other people.
This is not a simple task. It is almost impossible but if it begins there will be occurred a big change at cryptocurrency. Why does people use bitcoin? They doesn’t need to pay any extra taxes by using bitcoin but if bitcoin centralized then they has to pay the taxes to the government of their incoming amount.
Now we can invest the amount into bitcoin with hide our biological information but if it centralized then we have to submit our full information to the government. Then people will leave from here and will choose another system, so bitcoin will lose that’s position but it is so much impossible
Now we can invest the amount into bitcoin with hide our biological information but if it centralized then we have to submit our full information to the government. Then people will leave from here and will choose another system, so bitcoin will lose that’s position but it is so much impossible
In my little noob unterstanding it is not possible to take control of it. Only if you own 51% of all BTC
Yes, but the point here is "what if". So, I think if bitcoin would be centralized we would not see such prices as now and we would have to pay taxes to the government from this earnings. Those two things would change bitcoin totally and I doubt that it would stay so attractive as it is now.
At the time that is happening, bitcoin will eventually die
The concept of bitcoin is decentralized transaction, without it bitcoin will lose its value it initially hold from the start
But knowing minority is controlling majority of bitcoin is already terrifying, they can shake and manipulate the price whenever the want
The concept of bitcoin is decentralized transaction, without it bitcoin will lose its value it initially hold from the start
But knowing minority is controlling majority of bitcoin is already terrifying, they can shake and manipulate the price whenever the want
Nothing good may happens if someone reveal hi is controlling bitcoin. People love bitcoin because they beleive it is decentralazed, they tired from banks and state attention
Once that came, then we will start paying taxes and government will control once again by creating rules as per their wishes
what do you think would happen to bitcoin economy if someone would actually take in control of it?
Had it been that bitcoin was centralized, then it will not for once be popular. In fact, it would have disappeared by now. Bitcoin's strength lies in the decentralization.One should be talking about strengthening its decentralization and not centralization.
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