Topic: Will Bitcoin become centralized sometime in the future? - page 10. (Read 8114 times)
If bitcoin become centralized, then there will be a possibility the entire cryptocurrency can become centralized too. If this happening, i think there won't be freedom in using crypto anymore.
The fear that many of the world's major excavators are concentrated in China is that it's easy to get bitcoin focused and managed by a badly organized group.
Definitely, this could be answerable by a yes or a no. Bitcoin can be centralized if the technology will continue to improve. However with the increasing process that may happen if this will be pursued, I don’t think we can bitcoin as a centralized crypto currency.
As Bitcoin mining is partially controlled by Chinese miners, I have a feeling that sometime in the near future, Bitcoin can become centralized if no solution against this is proposed.
If BTC could manage to bring a solution towards mining centralization by preventing mining pools with the most hashrate to effectively gain control of the network, then it would aim to become more decentralized over the years.
As mining difficulty increases and new ASIC hardware gets developed, it would make it less possible for any average user to mine Bitcoin, thus making it more centralized each day.
Nevertheless, I would like to know your opinion about this, as if BTC becomes centralized, it might cause it to decrease in value, and most of all, violate the principles that it was created for.
I think if that will happen ever, we will fail as a community and as a cryptocurrency enthusiast, because this is the core of our basement. We are standing on the fact of Bitcoin decentralized system and we cannot give up on that. If BTC could manage to bring a solution towards mining centralization by preventing mining pools with the most hashrate to effectively gain control of the network, then it would aim to become more decentralized over the years.
As mining difficulty increases and new ASIC hardware gets developed, it would make it less possible for any average user to mine Bitcoin, thus making it more centralized each day.
Nevertheless, I would like to know your opinion about this, as if BTC becomes centralized, it might cause it to decrease in value, and most of all, violate the principles that it was created for.
I hope many of the big excavators in the world will no longer be located in China.
I disagree with bitcoin's more concentrated opinion, and we all know that bitcoin is the best pennies in the encrypted world. With the increase in the difficulty of mining and the development of new ASIC hardware, bitcoin will be harder to dig, and it is not easy to get bitcoin in large mines. And the development of the community will have more new funds to invest in bitcoins, which will make the project more decentralized.
I think that is unlikely to happen, because the overwhelming process must have over 50% of the power of excavators around the world.
I think it is already centralized with the possibility of decentralization if the centralization becomes ever more apparent. bitcoin can use original fears to reinforce what should happen. I think it can reduce value because it is centralized and I think people who use their bitcoin want privacy and become anonymous.
As Bitcoin mining is partially controlled by Chinese miners, I have a feeling that sometime in the near future, Bitcoin can become centralized if no solution against this is proposed.
If BTC could manage to bring a solution towards mining centralization by preventing mining pools with the most hashrate to effectively gain control of the network, then it would aim to become more decentralized over the years.
As mining difficulty increases and new ASIC hardware gets developed, it would make it less possible for any average user to mine Bitcoin, thus making it more centralized each day.
Nevertheless, I would like to know your opinion about this, as if BTC becomes centralized, it might cause it to decrease in value, and most of all, violate the principles that it was created for.
No matter how the difficulty increases and the miner will be more developed or enhanced it really means that it will make bitcoin decentralized and we all know that bitcoin cannot be very controlled by a 3rd party. If they plan to control or centralize it, they will have difficulty resolving it with certainty. If BTC could manage to bring a solution towards mining centralization by preventing mining pools with the most hashrate to effectively gain control of the network, then it would aim to become more decentralized over the years.
As mining difficulty increases and new ASIC hardware gets developed, it would make it less possible for any average user to mine Bitcoin, thus making it more centralized each day.
Nevertheless, I would like to know your opinion about this, as if BTC becomes centralized, it might cause it to decrease in value, and most of all, violate the principles that it was created for.
I doubt that will ever happen because this would break the whole concept of which cryptocurrencies was generated to come in place. Bitcoin is based on a decentralized system of mechanism for peer-to-peer transactional activities.
Bitcoin in no case should be centralized, and by its nature it is designed in such a way that it is almost impossible to centralize it. There will be a lot of different forks of bitcoin, which, for sure, will try to cetralize to reduce. its volatility. It's hard to say what will happen, but it will be another bitcoin. The present needs to be improved, but it is by no means impossible to change its nature. Even if it eventually loses functionality. He will find his admirers and with minimal technical characteristics. There is also a demand for antique cars and other old things and items.
As Bitcoin mining is partially controlled by Chinese miners, I have a feeling that sometime in the near future, Bitcoin can become centralized if no solution against this is proposed.
If BTC could manage to bring a solution towards mining centralization by preventing mining pools with the most hashrate to effectively gain control of the network, then it would aim to become more decentralized over the years.
As mining difficulty increases and new ASIC hardware gets developed, it would make it less possible for any average user to mine Bitcoin, thus making it more centralized each day.
Nevertheless, I would like to know your opinion about this, as if BTC becomes centralized, it might cause it to decrease in value, and most of all, violate the principles that it was created for.
If BTC could manage to bring a solution towards mining centralization by preventing mining pools with the most hashrate to effectively gain control of the network, then it would aim to become more decentralized over the years.
As mining difficulty increases and new ASIC hardware gets developed, it would make it less possible for any average user to mine Bitcoin, thus making it more centralized each day.
Nevertheless, I would like to know your opinion about this, as if BTC becomes centralized, it might cause it to decrease in value, and most of all, violate the principles that it was created for.
I dont think bitcoin will become centralized. Maybe China is biggest bitcoin miners but many miners in the world and transaction data spread all around the world too. If bitcoin become centralized, i am believe bitcoin will be abandoned by investor. Most investor believe bitcoin is decentralized and thats why they investing their money.
For me NO. Bitcoin is created to become decentralized. I believe that decentralization is really important in cryptocurrency, because thru that, we cannot easily manipulate the price, specially in Bitcoin. I really don't agree that Bitcoin will become centralized.
Bitcoin is created as a decentralized cryptocurrency for a reason. Changes will happen in the near future but I think Bitcoin will still remain as is, a decentralized cryptocurrency with a purpose. It will never be centralized and changing it to a centralized one will cause a lot of problems in blockchain technology.
As Bitcoin mining is partially controlled by Chinese miners, I have a feeling that sometime in the near future, Bitcoin can become centralized if no solution against this is proposed.
If BTC could manage to bring a solution towards mining centralization by preventing mining pools with the most hashrate to effectively gain control of the network, then it would aim to become more decentralized over the years.
As mining difficulty increases and new ASIC hardware gets developed, it would make it less possible for any average user to mine Bitcoin, thus making it more centralized each day.
Nevertheless, I would like to know your opinion about this, as if BTC becomes centralized, it might cause it to decrease in value, and most of all, violate the principles that it was created for.
If BTC could manage to bring a solution towards mining centralization by preventing mining pools with the most hashrate to effectively gain control of the network, then it would aim to become more decentralized over the years.
As mining difficulty increases and new ASIC hardware gets developed, it would make it less possible for any average user to mine Bitcoin, thus making it more centralized each day.
Nevertheless, I would like to know your opinion about this, as if BTC becomes centralized, it might cause it to decrease in value, and most of all, violate the principles that it was created for.
It would in any case stay as it ought to be and im unequivocally accepting on that thing on the grounds that regardless of how trouble increments
Excavators would be more created or overhauled it doesn't extremely imply that it will make bitcoin to be decentralized
We as a whole realize that bitcoin cannot be not really controlled by any third party.If they would plan to control or brought together it then they will experience considerable difficulties on splitting it without a doubt.
That’s a good question and it’s always good to think about what changes can be happen in future about bitcoin. But still i don’t think that’s its gonna be centralized one day. I mean, what’s the point then?
I don't think so, that's not its purpose of existence, btc/blockchain here to keep is decentralized and that must be achieved besides the crypto is just half a decade
As bitcoin is very regonize now...
With time bitcoin will become centralized sometime in the future
With time bitcoin will become centralized sometime in the future
I do not worry about it, because Bitcoin is currently using a hierarchy and will be hard to change. And I do not want the bitcoin to become focused. because if that happens, bitcoin will be controlled by something or just someone.
Perhaps there will be something to regulate, since it is impossible to have a currency in the country and not to influence it in any way.
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