I think that Bitcoin can't become centralized..
Chinese miners not control hashrate power now.
Also I read that Russia to produce own asic for mining
Topic: Will Bitcoin become centralized sometime in the future? - page 20. (Read 8114 times)
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.
Of course we are looking for that positive possibility for bitcoin in the future. But i think, it is still much better for bitcoin to be free or i mean still be a decentralized one.
Bitcoin is decentralized peer to peer digital currency and due to these values Bitcoin become the favoritism and huge volume with a great market capitalization, If in future Bitcoin become centralization than it means it loses these values and if lose these values than the demand will not still the same,
i think it already is centralized with the possibility of a decentralized out if that centralization becomes too obvious, Price, popularity and future of any Cryptocurrency depends mainly on some whales, and miners. I think its main investors already pulled out there investments. Centralization of cryptocurrencies mainly bitcoin, and maybe someday to make bitcoin is legal in many countries it will change from decentralized into centralized system.
Bitcoin will never be centralized as the purpose it was created initially was in decentralized model which makes more people trusted it and accept it, it can only be regulated in future...
Bitcoin is used by most of the people due to its anonymity and decentralized nature and if it becomes centralized all the control will fall in one hand and the prices will be highly manipulated. This will surely affect the investment of bitcoin users and also trust. There can be a large drop in the value as it becomes centralized and I think this will not happen as every day new hardware with cheap cost is coming into the market and there surely will be some alternative for bitcoin mining.
In the future, bitcoin will become centralized and controlled by greedy people in the government. I guess they can also determine the identity of each user. These transactions may be discovered after the transaction.
It can be in the future. But the best way to use bitcoin for us we'll be creating a system that includes using it without centralised system, it is very hard to explain but I guess you know what I mean.
no that is not possible. bitcoin is built to become a decentralized coin because that was the developer wants and for sure it will remain this way , many people do also prefer bitcoin to be a decentralize type of currency because we can avoid being charged by a tax . do you love guys being charged by a tax? for sure you didnt want it also . tax are the one that can kill our income and also our community because higher authorities such as the government officials can always have the control .
I think it could happen in the future. The bitcoin problem is concentrated by the miners. I think maybe in the future China will do this because there are many bitcoin mining plants being built in China. and this can negatively impact the bitcoin value.
I think it's centralized with the possibility of decentralization if the centralization becomes too obvious.
Miners will be more developed or improved it really means that it will make bitcoin become decentralized and we all know that bitcoin can not be heavily controlled by third parties.
Miners will be more developed or improved it really means that it will make bitcoin become decentralized and we all know that bitcoin can not be heavily controlled by third parties.
In the future, bitcoin will become centralized and controlled by greedy people in the government. I guess they can also determine the identity of each user. These transactions may be discovered after the transaction.
It can be in the future. But the best way to use bitcoin for us we'll be creating a system that includes using it without centralised system, it is very hard to explain but I guess you know what I mean.
For bitcoin to become centralized will be very hard. Bitcoin have reached to a stage that you can't just twist it the way you want. That's why many forks have been happening. These forks are based on the ideologies of different individuals which make them to create a fork. Anyone can actually enter into mining though i get your argument, maybe making it hard might give control to certain whales to control mining in the future. Let's hope it will not reach to that.
In term of price, Btc is already centralized, as whales do whatever they want. lol
It is true that the whales can do a lot of manipulation with the price but they cannot do whatever they want, they are still subject to the market forces and if they try to bet against the trend and even if they try to change it they run they risk of losing a lot of money besides if bitcoin became too centralized to the point the whales had most of the coins then no one will use bitcoin and their coins will be worth nothing. 
In the future, bitcoin will become centralized and controlled by greedy people in the government. I guess they can also determine the identity of each user. These transactions may be discovered after the transaction.
It can be in the future. But the best way to use bitcoin for us we'll be creating a system that includes using it without centralised system, it is very hard to explain but I guess you know what I mean.
It will difficult because as more and more people are coming into the crypto currency world,
there will be more miner and hence it is difficult for one miner to hold more than 50% of the hash power,
which will that miner the power to control the crypto world.
Also if government should centralize the crypto currency, they will be able to manipulate it to their own
favor, enriching themselves alone.
For these not to happen let's try as much as possible to introduce other people to the crypto world
and ensure that we educate them first before encouraging them to invest.
there will be more miner and hence it is difficult for one miner to hold more than 50% of the hash power,
which will that miner the power to control the crypto world.
Also if government should centralize the crypto currency, they will be able to manipulate it to their own
favor, enriching themselves alone.
For these not to happen let's try as much as possible to introduce other people to the crypto world
and ensure that we educate them first before encouraging them to invest.
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 definitely agree. If people gets educated first about Bitcoin before they invest, there's a bigger possibility that bitcoin can be centralized. But as of now, I think it'll take years for bitcoin to be centralized since each countries have lots of regulation. 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 will difficult because as more and more people are coming into the crypto currency world,
there will be more miner and hence it is difficult for one miner to hold more than 50% of the hash power,
which will that miner the power to control the crypto world.
Also if government should centralize the crypto currency, they will be able to manipulate it to their own
favor, enriching themselves alone.
For these not to happen let's try as much as possible to introduce other people to the crypto world
and ensure that we educate them first before encouraging them to invest.
there will be more miner and hence it is difficult for one miner to hold more than 50% of the hash power,
which will that miner the power to control the crypto world.
Also if government should centralize the crypto currency, they will be able to manipulate it to their own
favor, enriching themselves alone.
For these not to happen let's try as much as possible to introduce other people to the crypto world
and ensure that we educate them first before encouraging them to invest.
at the point when every one of the squares where mined after that I dont figure china will have the capabilty they have at this moment. or on the other hand if individuals are considering the exchange expense devidation at that point let me reveal to you that the competition level will be most elevated around then in light of the fact that the trouble will stay same and each body can contribute a settled sum on a machine and can mine and get a segment of the aggregate exchange charges
I think not, bitcoin will not go that way and not even close. The government has no desire or anything to concentrate bitcoin but rather they are busy on their project of creating virtual fiat blockchain currency. The fiat virtual currency is centralized and unlike bitcoins controlled by banks and by governments. These can be controlled, monitored to combat tax evasion, money laundering and counterfeiting.
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.
It will not happen, the reason why people become interested to what is bitcoin is because it has characteristics of being decentralize. People will stop buying bitcoin if bitcoin become centralize like fiat money. 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.
Concentration on Bitcoin can cause its price to drop in the market, as blockchain is decentralized so if we lose this bitcoin it becomes something completely different.
Interesting question! Or course government can't let BTC go before take absolutely control about it but how they can centralized that - it's really interesting.
Maybe one day all countries will measure their power counting percent of bitcoin owning by country.
Maybe one day all countries will measure their power counting percent of bitcoin owning by country.
Jump to: