Decentralization is one of the main feature cryptcurrency should have to become successful, if bitcoin is centralized than it will never get as much success as it have right now.
Government will easily crack down such centralized network and we all know they don't like to deal with crypto. Decentralization add security + stability in crypto.
Topic: Why decentralization is so important for crypto? - page 2. (Read 301 times)
The very importance of cryptocurrency is decentralization . Also and exchanges must be decentralizaton and not as now , Wanted abolished ,introduced new rules . With centralized exchanges many problems
Yes, decentralization is important for Bitcoin because the reasons you've listed.
Bitcoin could be easily taken down by governments if it wasn't decentralized, it's comparable to the torrent protocol in that way.
This doesn't mean that there isn't centralization within the Bitcoin ecosystem, most people choose to exchange Bitcoin for fiat and altcoins through centralized exchanges.
But as a user you're not forced to make use of any centralized infrastructure, you can easily just use the blockchain for p2p transactions.
Here's a pretty good article from Erik Voorhees about the matter:
https://bitcoinmagazine.com/articles/bitcoin-truly-decentralized-yes-important-1421967133/
Bitcoin could be easily taken down by governments if it wasn't decentralized, it's comparable to the torrent protocol in that way.
This doesn't mean that there isn't centralization within the Bitcoin ecosystem, most people choose to exchange Bitcoin for fiat and altcoins through centralized exchanges.
But as a user you're not forced to make use of any centralized infrastructure, you can easily just use the blockchain for p2p transactions.
Here's a pretty good article from Erik Voorhees about the matter:
https://bitcoinmagazine.com/articles/bitcoin-truly-decentralized-yes-important-1421967133/
Because thats the main aim of bitcoin,to have decentralized currency for all the people for example taxes would be eliminated by the hodlers it give us freedom to use our mone without paying the government,
Agree, but the real goal is to "freedom to use our money without paying the government", not decentralization itself, correct? Decentralization is just a way this is achieved.
So if someone invents a way to run a centralized server (or group of servers) which can't be affected by government, it'll still count as a cryptocurrency, no problem?
Because thats the main aim of bitcoin,to have decentralized currency for all the people for example taxes would be eliminated by the hodlers it give us freedom to use our mone without paying the government,
Seriously, what's all this decentralization thing about?
I can see 2 reasons:
1. Central server can become dishonest.
2. Central server can be taken down by gov.
But, isn't 1. applies to some cryptocurrencies also (the ones from top 20 in coinmarketcap, I will not call the names here).
So, if 2. is addressed in some way, 1. is not that important for a cryptocurrency to be successful, right?
Then, isn't having "blockchain" and "whitepaper" is more a cargo cult in many situations? There really could be a central server with some gamification for users (mining, rewards, marketplace etc) and if it is build in a way it can't be blocked (not to discuss here how), it can be called a currency and it's perfectly fine?
Or am I all the way wrong? )
I can see 2 reasons:
1. Central server can become dishonest.
2. Central server can be taken down by gov.
But, isn't 1. applies to some cryptocurrencies also (the ones from top 20 in coinmarketcap, I will not call the names here).
So, if 2. is addressed in some way, 1. is not that important for a cryptocurrency to be successful, right?
Then, isn't having "blockchain" and "whitepaper" is more a cargo cult in many situations? There really could be a central server with some gamification for users (mining, rewards, marketplace etc) and if it is build in a way it can't be blocked (not to discuss here how), it can be called a currency and it's perfectly fine?
Or am I all the way wrong? )
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