Topic: Will Bitcoin become centralized sometime in the future? - page 14. (Read 8103 times)
Yes as the difficulty is rising Mining is becoming centralized.. And that's against the principle why bitcoin was born.. So we should be scare i think.. Just not sure if this will impact positively or negatively
I am not sure because there is a lot competitor but I have read that btc counts as a 6th biggest currency in the world actually. And now I am interested in learning Token Sale projects and I found one maybe you can help me. It calls Socratus. It is an insurance ecosystem which provides a digital platform for insurance companies. So any insurance company can connect the platform to become the part of Insurance Digital Ecosystem such as property, flight delay, cyber insurance and etc. Their main aim is to help insurance companies to reduce costs (it can be reduced from 15 to 25 %) and get their business on a new level.
It is becoming regulated on a lot of countries, and the centralization from some coins is already happening, so i would really doubt that it will be a non-decentralized currency in a near future (if it ever gets no regulated) so lets wait to see what happens.
Bitcoin is decentralized, nobody can control it. But if bitcoin will become more popular and the world will accept it as their currency, there is a big chance someday.
for the present, bitcoin 65% bitcoin is already concentrated in china, this is in the case of more miners in china and supported by miner equipment that has been updated
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 some of the peoole will have a bitcoin and just keep it then there is a time that its value or price will decrease because of the law of supply and demand, but I think it is possible to happen that bitcoin can be centralized. 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.
Bitcoin has been centered since it first appeared, we can mine from a single source that has multiple branches. What still prevents bitcoin from being freer in circulation is the regulation of each different country.
I am hoping for that but i think that is very impossible for now since other countries already declared it as illegal. But as long as it is considered legal in other countries and see the best results and other may follows it, there are chances in the future that it will become centralized.
Im also hoping for that to happen , It has the potential in doing that, maybe the coin is not ready yet to achieve the request and suggestions of the community need to develop more. 
I am hoping for that but i think that is very impossible for now since other countries already declared it as illegal. But as long as it is considered legal in other countries and see the best results and other may follows it, there are chances in the future that it will become centralized.
That it must be fully legal. It must be centralized. No state disagrees with the official legalization without regency.
I don't believe Bitcoin will ever be centralized. Not now, not even in the future. Making Bitcoin centralized will definitely take away the fun and anonymity of transactions it currently enjoys.
Already created for decentralized purpose and there is no way it will be converted to centralized blockchain except if another coins similar to btc is created in form of centralized model
Even though the future of bitcoin is unpredictable, I do not think that the centralization of bitcoin will happen any time soon.
I think it is still to early to predict the future of bitcoin. But the idea behind it was to make it easier and more accessible for everyone to use a unified currency. It would be wonderful if bitcoin became a centralised currency. I think it would help bring balance to rich and poor people, becuase it would make people more equal.
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 we talk about the price of bitcoin, it bitcoin not decentralized now. After all, the price of bitcoin is very easily manipulated..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.
And if you mean blockchain-bitcoin, it will always be decentralized! This is his principle!
In my opinion, the trend of altcoin can become a concentrated source and it will be oriented in the future. But with bitcoin it's really hard for this. 21 million bitscoin is too small to accommodate that. Bitcoin will not move that way. And it will continue to hold its own identity.
In the future, I think bitcoin is hard to concentrate, although more than 70% of the mining calculation is in China now, but with the difficulty of digging, it will be less easy to get. The future bitcoin will be more dispersed.
Bitcoin will not become centralized, otherwise it will simply cease to be interesting to investors, because it will not be particularly different from other crypto-currencies.
I think nothing will happen as this is the reason why bitcoin is being implemented and it is for decentralized transactions to reduce transaction costs made in the form of centralized money. there are many people here who are trying to express this argument about when bitcoin will be centered. I am sure they have misunderstood what is decentralized and we have to let it go.
Does centralized mining necessarily mean a centralized currency? The miners have only a simple task to do, they aren't really influencing the coin itself, are they? I think that if all mining processes are in the same country, the coin itself would still be decentralized because the power still lies in the users and their choice of how to use it. The miners can't exactly increase interest rates or print more coins to manipulate the value like central banks do with fiat.
Now, centralization in terms of regulation would mean an entirely new thing. It would mean that there are a select group of individual who make decisions about how the coin is used.
Now, centralization in terms of regulation would mean an entirely new thing. It would mean that there are a select group of individual who make decisions about how the coin is used.
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