Topic: What if Bitcoin was centralized? - page 6. (Read 2472 times)
I think if bitcoin is already centralized then it will be taxed ownership, by the government in our country ...
With the Bitcoin price so volatile everyone is curious. Bitcoin, the category creator of blockchain technology, is the World Wide Ledger yet extremely complicated and no one definition fully encapsulates it. By analogy it is like being able to send a gold coin via email. It is a consensus network that enables a new payment system and a completely digital money.
It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. Bitcoin was the first practical implementation and is currently the most prominent triple entry bookkeeping system in existence.
It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. Bitcoin was the first practical implementation and is currently the most prominent triple entry bookkeeping system in existence.
what do you think would happen to bitcoin economy if someone would actually take in control of it?
if bitcoin would be centralized then I think that its prices would not be higher on what t is now and it would be regulated by the cou tries and major governments around the world. PLus it would have a much kore significant value than what it is now i think
what do you think would happen to bitcoin economy if someone would actually take in control of it?
Then bitcoins would be controlled. The prices of each bitcoin won't reach economical heights and won't be as profitable as compared to today's profits from bitcoins. However, bitcoin prices will be made more stable by anyone controlling it. The rate of how much bitcoins go out will be very skimp and bitcoins coming in will be controlled as well.
one of the first founding ideas about bitcoin was to be decentralized but i like your idea but not about bitcoin itself i mean what if we could make a good use of this technology by creating a money which has no physical form just like crypto currency work i think it will be better than fiat currencies more efficient and that's what i hope it will happen
Firstly bit is not possible to centralization of bitcoin. And in case if it happen then bitcoin market will crash, all transactions wiil be taxable, governments of different countries try to control over it by there way and mining, payment syste, trading and investment of bitcoin controlled by every government by there regulations.
It is not possible for bitcoin to be centralized because the idea behind bitcoin is to created a free currency not under the control of any one. But let say if that happen and bitcoin is centralized you will Biggin to see policies and programs that the authority will come up with that alone will be the point bitcoin will start failing in everything.
If bitcoin was centralized then it will also have the same properties of fiat currency so people will lose interest on bitcoin and it the value of bitcoin will fall soon after it was centralized.
But you know,no one can take control of this bitcoin so it can never be centralized so bitcoin will be bitcoin always.
But you know,no one can take control of this bitcoin so it can never be centralized so bitcoin will be bitcoin always.
If bitcoin will be centralized, the idea of inventing bitcoin will be a waste because bitcoin was discovered or I might say invented for the concept of decentralized. There will be a middleman which is the government that will put their presence by adding transaction fee instead of having the exact amount of the product and/or services you want to avail... The idea of bitcoin is to have the trading by peer-to-peer and there will be no other to act as middleman.
When the total concept of Bitcoin is the De-Centralization, what makes you think that Bitcoin could ever be Centralized?
the whole point would be lost) it would not be bitcoin! you would never know about him! he has the greatest decentralization
One of best features bitcoin has is being a decentralized system. If it is centralized, it will not be as popular as it is today.
If Bitcoin was centralized then there wouldn't be that many people wanting to use it, that will break Bitcoin since it won't get spent.
First you have to clear yourself that bitcoin's concept is independent currency which should not control by any single company or any government. Cryptocurrency is the only currency which give this world's people to live without any pressure and fees to be imposed on them.
So I strongly believe bitcoin wont be centralized and will not controlled by anybody.
So I strongly believe bitcoin wont be centralized and will not controlled by anybody.
Personally, I think bitcoin being centralized has advantages and disadvantages. The good effect is that something will take control of the system. It would be of a great help for someone to organize bitcoin. It will be more organized and managed appropriately. However, bitcoin being centralized can give the power to that person to control everything and use it for crime or anything like that. It will depend on the person holding or taking care of the system which way it will go.
what do you think would happen to bitcoin economy if someone would actually take in control of it?
satoshi start bitcoin to make it uncontrolled so if someone control bitcoin ,bitcoin will die.
you need to have more than 50% which no one can pay it
There will be massive corruption. The bitcoin economy will fall because the demands will be in an abysmal pit.
what do you think would happen to bitcoin economy if someone would actually take in control of it?
It seems there is someone who will control Bitcoin.
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.There can only be a decentralized Bitcoin. There is no room for centralization even hypothetically.
Exactly my point of view also. That wouldn't be even be called Bitcoin, it is all about decentralization.
It's likely that the value will fall and people will no longer have the interest to invest in it. Because we know that it will also lose its meaning. Why do we invest in bitcoins? Because of the increase in its price and we have invested money. So if it becomes centralized you can manipulate its price and become a Shitcoins.
Actually, I was discussing this issue with someone lately. I was also thinking no, thats not possible, but he kind of got me thinking... this might be the only way for Bitcoin to survive in the future, because if there is no control and interference by the governments at all it would be likely that they prohibit Bitcoin globally and that the Bitcoin value therefore would drop hard. We were discussing this because he thinks that BTC cant be decentralized forever.
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