Topic: Will Bitcoin become centralized sometime in the future? - page 22. (Read 8114 times)
Bitcoin can become centralized if no solution against this is proposed...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 would still remain as it should be and im strongly believing on that thing because no matter how difficulty increases and miners would be more developed or upgraded it doest really mean that it will make bitcoin to be decentralized and we all know that bitcoin cant be hardly controlled.
well I don't think bitcoin will become centralized, as de-centralized is the most important feature of the bitcoin. That said, there are some issues that are concerning, such as hacking. The demand of Bitcoin is too high because there is no other involvement of any person or third party in Bitcoin transactions. Bitcoin is legalizing in Japan due to its advanced properties. The virtual currency on distributed network is the main feature of Bitcoin.
I do not think if the bitcoin management will agree with that proposals that it will be centralized someday in the future , because this bitcoin is design as decentralized digital currency in which come of the purpose is to have secrecy payments and transactions in the cryptoworld.
Of course, the likelihood that Bitcoin will be centralized is extremely high. Everything takes a long process, but with the passage of time I'm sure bitcoin in the future will be better and many are interested and centered on bitcoin. But it took a long time for it all.
No I don’t think so ..bitcoin will not centralized in future .. that’s the good thing of bitcoin and other crypto currirnces ..
In term of price, Btc is already centralized, as whales do whatever they want. lol
in general, historically, that phiatic money is centralized and dependent on banks. Nevertheless, the security of crypto currency is one of its best features. Blockchain bitcoin, no one has ever hacked, while banks are hacked constantly. The bitcoin network also can not become centralized, since it does not have a regulatory body.
we strongly expect that bitcoin currencies, or other virtual currencies that will replace the activity of the bank's needs. After that the bitcoin currency reaches the point where hundreds and thousands of transactions can be completed per second, the decentralized bitcoin properties may provide consumers with a more efficient, safe and cost-effective financial framework as an alternative to the banking infrastructure of globalization.
how do we think the bitcoin currencies will become centered when the actual concept or ideas built are 100% decentralized? The fact that some whales control or the bulk of the supply is very, very will not make it centralized. Sooner or later, more and more people will take advantage of bitcoin and share their supply for more people.
I guess not, holding a lot of bitcoin does not mean it can master bitcoin. Although many miners come from China but that does not mean they will destroy bitcoin and deceive everyone. Bitcoin is still decentralized and no one can control bitcoin.
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 don't think it will happen. Bitcoins was created to create a space for investors and enthusiasts a like to have a sort of economic system without ever being centralized. Having bitcoins then centralized, then it ruins the purpose of bitcoins which is to be decentralized.
Exactly, and I believe no one of us will want to change the system. Maybe bitcoin will become the center of the future because of its advantages.
we strongly hope that bitcoin and other virtual currencies will replace the needs of the bank. Once the bitcoin currency reaches the destination and the point at which thousands of transacted transactions are completed per second, the decentralized bitcoin properties can provide consumers with a more efficient, safe, and cost-effective financial framework as an alternative to the world's banking infrastructure.
Will Bitcoin become centralized sometime in the future? it will because it is ridding on the wing of becoming centralized the future currency, it is just the problem of developing countries with the issue of internet can be a barrier to this great achievement
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 never occurred to me that bitcoin will be centered because the bitcoin belongs to everyone, when the bitcoin is centralized it may be that the crypto user will dismiss all the transaction activity or anything else related to bitcoin. The centralized of bitcoin is a sign of death for bitcoin, because it is most likely if the centralized bitcoin, the market control is controlled by a more authorized person than before that determines a trader and buyer.
So i think bitcoin will not centralized.
Of course, the likelihood that Bitcoin will be centralized is extremely high. Personally, I believe that the best regulation and stability than complete chaos and constant price differences.
One great thing about Btc and almost all crypto is decentralisation.the rest remains to be seen as the legislation Battles take center stage
we do not want ideas because when the Bitcoin currency is being regulated or controlled by a government agency or a particular group, they have a tremendous profit from productive things, because they control the price of money in the market so we want it to be decentralized in the future , we love having a law on Bitcoin currency to be seen in the future.
Well we all know that Bitcoin or any other cryptocurrency doesn't do well when centralized, It denies it the freedom to operate hence making it unattractive to most users and possible investors.However, as days go by and more People join the Bitcoin market, the governments might chose to get involved in the crypto market in a bid to regulate it, or better still make it centralized and completely legalize it..
actually nobody knows btc in the future what would it be like? if possible in the future btc becomes centralized then btc will become like fiat currency can be controlled by government and certain parties. will also cause inflation. I never thought btc would be a centralized currency I'm sure until the last anniversary btc will remain a decentralized currency using blockchain technology.
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