Topic: will be Bitcoin centralized ? (Read 2085 times)
Many countries governments are trying to pull down bitcoin under regulations. I don't know who submitted the application to regulate bitcoin to the SEC! Though SEC is rejecting bitcoin and cryptocurrency continuously. So, I think bitcoin won't be centralized and that will be not good for us. We feel safe and comfortable because Bitcoin transactions are anonymous. If bitcoin goes under regulations, then that will be not anonymous anymore.
maybe if bitcoin becomes centralized, then the government can accept bitcoin because they can take full authority over bitcoin. the first step is, the government must provide clear regulation to bitcoin, to further take that authority and make bitcoin like ico which is centralized.
The technology behind Bitcoin which is decentralized cannot be changed. Bitcoin will forever remain decentralized. However, the exchanges and merchants involved in its operations may be regulated in order to check the transactions of Bitcoin that pass their platforms.
Many people say that Bitcoin will become more and more centralized because there are several large mines that can mine bitcoins. They account for most of the mining share and are already centralized. But in the future, mining chips will become cheaper and cheaper. Everyone can mine, and even every small electrical appliance can mine. Just like when the computer just appeared, only a few people can use it. It is also very central. But now everyone has a computer. So from this perspective, Bitcoin is hard to become central.
I don't think that bitcoin will be centralized. For many people, convenience and cost are strong enough benefits to justify the continued use of centralized exchanges, but there are also risks involved. The largest risk, and one that many have highlighted in recent times, is the chance your cryptocurrency will be confiscated or compromised. Even if the centralized exchange doesn’t act in explicit bad faith, their entire network is set up like a honeypot that just serves to motivate hackers.
as per governments view, they never accept decentralized bitcoin. the major reason is they unable to track the sender and receiver. smuggling and black money can send anywhere without third party knowledge.
so do you all think bitcoin can be centralized ? can be do ?
Bitcoin has been created not to be centralized, if that happens, then it also ends its reason to exist. Anyway I don't think it'll ever become centralized.so do you all think bitcoin can be centralized ? can be do ?
That is the reason why Bitcoin will never be centralized. Bitcoin is a decentralized cryptocurrency to start with and with it's centralization, I don't think people will still be using it for investment since the government will be able to control the price.
I don't want it to be centralized since I want to invest on a cryptocurrency and I don't want the government from making any deductions to it. It is not like that I don't want to pay taxes but I just want to earn money without having a problem of paying the taxes.
as per governments view, they never accept decentralized bitcoin. the major reason is they unable to track the sender and receiver. smuggling and black money can send anywhere without third party knowledge.
so do you all think bitcoin can be centralized ? can be do ?
Bitcoin has been created not to be centralized, if that happens, then it also ends its reason to exist. Anyway I don't think it'll ever become centralized. so do you all think bitcoin can be centralized ? can be do ?
Bitcoin being centralized is not possible, the nature of bitcoin is decentralized, anything outside this thoughts,it might not work,forget government interest to fight corruption.. They themselves are not clean..
if all country in the world will agree with this and will makes bitcoin legal in that country i think it will happen that bitcoin use the centralized system and i hope that it will makes the changes in the future about it
No, it can be centralized. Bitcoin and other Crypto currency were created for decentralized forever. It aims to make the world easier and eradicate the taxation system implement by government in all countries. Government probably can use or adopt its system as some countries recently legalize Bitcoin and other crypto for payments, but it is not centralized.
as per governments view, they never accept decentralized bitcoin.
If bitcoin where centralized govs would not accept them any way and the institution behind bitcoin would be already on jail.Is better this way because no one can control it.
the major reason is they unable to track the sender and receiver.
If they are unable to track bitcoin, can you explain this image?
Those are the bitcoins lost in the Mtgox scandal, and yes they got traced.
smuggling and black money can send anywhere without third party knowledge.
Not really, now big brother keeps an eye on each moving bitcoin. so do you all think bitcoin can be centralized ? can be do ?
No, never, is on it's nature to be decentralized and it will stay that way, That's something who can't change.
in the mere future, but now... if bitcoin will be centralized, many people use bitcoin as currency and not the main currency
Exchange basically creates a situation where only coins that can increase the cost of being registered can grow. This is not healthy for the crypto community, whose starting point from the beginning was decentralization. Without a centralized exchange, the possibility that bitcoin will not become the dominant crypto in the market. That's because the market volume around other crypto will also increase, based on their technical capabilities.
Why make it centralized? If ever this happens, bitcoin will lose its value and feature. Then why it was created will lose all meaning.
The bitcoin system will forever be decentralized but strangely, exchanger systems and platforms that support bitcoin networks are mostly centralized. some even say the lightning network system is centralized. I am not sure that the country will adopt bitcoin to be used as digital payments, but the state makes it possible to make their own digital payment devices with guided or semi-centralized blockchain technology. through smart contracts, the state can control their crypto.
Am not sure bitcoin will be centralized because so many countries have not heard about bicoin will has stand as an obstacle to the centralization of bitcoin because must hear and know it before it will be accepted
why not man? If bitcoin want to become legal currency, it must be regulated to be centralised
as per governments view, they never accept decentralized bitcoin. the major reason is they unable to track the sender and receiver. smuggling and black money can send anywhere without third party knowledge.
so do you all think bitcoin can be centralized ? can be do ?
No. Bitcoins can never be centralised ever. Being centralised means that government can have the full control over it and also they could easily track and control the circulations. Bitcoins are not actually meant for anyone to track down or to control the circulation. Bitcoins work on their won for their own so they will always remain decentralised and will never get into the centralised world for any reason. the community should accept bitcoins s they are and should get them to use as they are. Bitcoins are much profitable in the decentralised form and we never know what will happen to them when they get turned into centralised. Perhaps the government can turn bitcoins into the form of other fiat currencies which would truely not be expected by all the major bitcoiners. So always let bitcoins stay as they want always. so do you all think bitcoin can be centralized ? can be do ?
as per governments view, they never accept decentralized bitcoin. the major reason is they unable to track the sender and receiver. smuggling and black money can send anywhere without third party knowledge.
so do you all think bitcoin can be centralized ? can be do ?
so do you all think bitcoin can be centralized ? can be do ?
But that is the purpose of creating cryptocurrency, an encrypted currency, so anyone who want to decrypt, will need to provide the key.
If centralized, some peoples can know your balance or transactions if they manage the database.
Cryptocurrency is not illegal just because peoples coins cannot be traced.
as per governments view, they never accept decentralized bitcoin. the major reason is they unable to track the sender and receiver. smuggling and black money can send anywhere without third party knowledge.
so do you all think bitcoin can be centralized ? can be do ?
I don't see bitcoin as a centralized platform, because once bitcoin is been categorized as centralized platform it will lose it value and it will now be complicated compare to decentralized platform because by them you each and every holder of bitcoin will need access from the control before he or she can accessed it investment which won't be a good management for bitcoin. so do you all think bitcoin can be centralized ? can be do ?
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