Topic: Will Bitcoin become centralized sometime in the future? - page 15. (Read 8103 times)
I think this is impossible and contradicts the very concept of bitcoin. People buy bitcoin because it is not dependent on the state.
I think it is not necessary, because its main advantage is a decentralized system that captivates people and increases their interest. If it becomes centralized, its entire structure will change.
Yes it should be centralised in the future considering the volume of transactions and also the increasing database everyday. It should be centralised with regulations in place and nobody could stop it from btc reaching new highs daily also some good returns. Centralisation would only easy the process and reduce the time also and everything would be dealt real time.
Little centralization happen out there, but now more and more mining-related projects coming into the cryptocurrency space
Bitcoin will dominant the market soon, then ethereum will also does it. I'm still very optimist about the market in near future 
I think they will only accept it when it becomes centralized to control monetary affairs. We all expect bitcoin and in this case, cryptocurrency, to be acceptable everywhere sometimes comes that may be only after centralization or regulation by some government agencies.
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.
you are wrong, bitcoin will not be concentrated in one country even though bitcoin miners are mostly from china. some countries in the world also mine bitcoins and they also produce many bitcoins from mining.
If bitcoin becomes centralized, then a 14 year old kid which read books about bitcoin in his hostel room, and create something more powerful than bitcoin.. Since it is open sourced, you will not really need to worry about it.
Nope I think bitcoin will be decentralized anytime. the government with their power will not be able to turn bitcoin into a whole centralization. the bitcoin internal system can not be changed from the outside. but do you know decentralization starts to disappear when the exchange begins to ask for verification id?
Well, it looks like it is 'centralized' in a certain way.
The word 'centralized' literally means "drawn toward a center or brought under the control of a central authority." And the key word here is "under the control."
When I think about it I think about the "whales" who, in fact "control" crypto in some respect, don't they?
The word 'centralized' literally means "drawn toward a center or brought under the control of a central authority." And the key word here is "under the control."
When I think about it I think about the "whales" who, in fact "control" crypto in some respect, don't they?
That will never happen. The reason why Bitcoin is so popular is the fact that it has a decentralized nature and if in future it becomes centralized, then people will stop investing altogether in it.
No one wants a currency which can be controlled by someone else. Everyone wants to experience some sort of power when they transact in their currency. The primary reason why so many people have in fact adopted this currency is because they want to restrict government from imposing restrictions on them.
No one wants a currency which can be controlled by someone else. Everyone wants to experience some sort of power when they transact in their currency. The primary reason why so many people have in fact adopted this currency is because they want to restrict government from imposing restrictions on them.
Bitcoin is created to be decentralized in the absence of real owners, if it eventually becomes different, there must be a country capable of making bitcoins into a single currency and discarding the fiat they have, centrality is the existence of a real function and corporation. where all can be accounted for, in this case I am not sure it can be realized because there are still many disagreements to make it legally valid.
If the bitcoin is going to be centralized it may have fallen because many people are opposed to it especially the whales that control it. So, if it happens, no one will invest in bitcoin and it can be used as an easy way of paying transaction.
Bitcoin is a cryptocurrency and it was desinged to work as a decentralized digital currency or it work without a central bank or single administrator
But i think that Bitcoin will become centralized in the future, why?
It is because some of many aspects of it use are centralized
But i think that Bitcoin will become centralized in the future, why?
It is because some of many aspects of it use are centralized
No one wants it, because if bitcoin becomes centered then bitcoin will be easily controlled, which can end up harming the bitcoin user. I'm sure bitcoin will never be centralized, bitcoin will remain decentralized as long as the bitcoin community collectively helps keep the bitcoin from centering.
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.
In my humble opinion I guess it won't happen because bitcoin is designed to be a decentralized digital currency. And as we all know that most of the investors are enjoying through this kind of system which is being decentralized. If bitcoin will be centralized then people will find another coin to develop like bitcoin and get back on their business. Bitcoin as a decentralized digital currency has created a lot of business.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 that this does not happen. It will hamper the growth of bitcoins and we may see it getting controlled by fewer people.
I don't think so. Decentralization is Bitcoin's unique feature. When it is called unique feature, how could it be changed? If Bitcoin changed its own characteristics, then it would not be cryptocurrency anymore.
There is a possibility of Bitcoin to become decentralized. And the only way to do that is when whales started to brainwashed all the miners to leave a certain pool and transfer to a certain pool. Remember miners are the blood stream of Bitcoin.
No. It won't be a good idea. That will be a deviation from the ideology of its founding fathers. They wanted a decentralized system and not a sort of centralized or controlled one.
If you looked at the whole picture we can think that it's not decentralized at all because big companies and whales are coming to control the hashrate and the price of Bitcoin, this is the reason why need new coins that can challenge Bitcoin supremacy if ever Bitcoin become totally centralized. 
Bitcoin is decentralized, it cannot be controlled or manipulated. The price of bitcoin looks like being manipulated because of the weak investors being deceived by bad news spreading on the social media. I think that big whales is using social media to spread bad news, so that they can harvest bitcoin to the panic sellers, for them to earn bigger profit when the price of bitcoin increase. I dont think that its possible for bitcoin to be centralized in the future, because if bitcoin become centralized, its characteristics and reasons why it was created will be gone to nothing, and because of that, bitcoin might die. Jump to: