Topic: Will Bitcoin become centralized sometime in the future? - page 23. (Read 8114 times)
as much as i dnt think bitcoin will ever come to the point were it'll have to be centralized, cause if it is?then whats the whole point it'll no longer make any meaning cause then it'll be controlled and all that people will loose faith in holding.but if the acceptance of bitcoin happens to go viral round the world then it will come to that i guess.but i wonder tho
It will happen if Bitcoin begins to be accepted by all people in all regions and countries. It's just waiting for the right time.
I think bitcoin is unlikely to be centralized in the future, because the characteristics of decentralized bitcoin are far from, government monitoring and monitoring, bitcoin works and circulates in the digital world independently and that's one of the bits of bitcoin.
The whole point and essence of bitcoin in its decentralization and relative anonymity. It seems to me that no one can centralize it, in any case, openly. The community will follow this and this will not allow it. This process can be progressively concealed, but this is hardly possible on a global scale.
I do believe that bitcoin will not be centralized, the reason why people use bitcoin because its decentralized and fast transaction, when the time comes that bitcoin will be centralized people will just create another coin as a replacement of bitcoin, like token theres a lot of token in the market that use ethereum blockchain. I hope bitcoin will still the same as it is as being the #1 digital currency.
I think it is already centralized as it is. It was supposed to b mineable with a CPU only so everyone can participate, but people always find ways to beat the system, first were GPU's then ASICS.
I guess it's just the way things are, we are not even sure now if those hoarding bitcoins are now the banks that bitcoin was built against for.
Even if that was the case, they will never gain control as big as the one they had in fiat within bitcoin, for example, they will never be able to mine more than the 21 million coins specified by satoshi, if they tried to change the code they will need to fork bitcoin and get everyone to accept it and the community will never accept a bitcoin with an unlimited number of coins. I guess it's just the way things are, we are not even sure now if those hoarding bitcoins are now the banks that bitcoin was built against for.
I think it's not. As soon as he reaches the conditions set by the government.
But for bitkoyna there are still some problems, such as money laundering, taxes ... he must overcome these problems in order to become the central digital currency in the future.
But for bitkoyna there are still some problems, such as money laundering, taxes ... he must overcome these problems in order to become the central digital currency in the future.
It is the brightest king in the electronic money market, neutral for it is unlikely, you need to understand the problem here more
maybe someday bitcoin will become in a centralized system,Sooner or later, more and more people will own btc and split the supply between more and more people.
Bitcoin has become one of the most powerful currencies in the world and that is because of its unique selling point of being a decentralized blockchain system which is regulated by a pure democratic method, since it is the main pillar of its value, bitcoin will not become centralized in the future.
There is no way for the bitcoin to become a centralized crypto currency since initially it was invented as an independent coin that would not be connected to any financial institution at all. If whatever is the reason and bitcoin becomes centralized then that will be the end of Bitcoin and subsequently all altcoins.
seeing the government as now still prohibits or legalizes the existence of bitcoin in some countries but the government will approve all of this if bitcoin can be centered and will cause many new ideas for all parties and if that is true then bitcoin will be concentrated well.
we have to remember that anything is possible regarding to the system of bitcoin, so does with the possibility if one day bitcoin will be centralized in the future. But, i think i will be more agree if the system of bitcoin is still based on decentralized, because with decentralized system it can eliminating the role of the third party. Beside that, with decentralized system it could give us more freedom and easiness when using bitcoin for our financial life.
Bitcoin is the incentive to keep the Bitcoin blockchain secured. Without that incentive there would no longer be the trust factor, the network would have lost security.Imagine a centralized blockchain, where trust would be in hands of a few individuals or institutions. What if the private keys would be compromised? The entire network would have lost all value.Plus, trust centralized would be business as usual. It would be similar as the trust we are supposed to have in banks and authorities.
Bitcoin was designed to move away from the trust through institutions to trust through networks.
Bitcoin was designed to move away from the trust through institutions to trust through networks.
For me, bitcoin can become centralized in the future if the legality and acceptance increase. But for now, it seems that bitcoin is centralized to some people that are using some coins that are printed. But if you are saying that bitcoin is becoming centralized like real money that we are using right now, I think the percentage is still meager because to some issue and reason that bitcoin is facing right now. We all know that there is some country that is already prohibiting bitcoin and another cryptocurrency because for some reasons. But like I said if bitcoin’s or cryptos become legal and acceptable to many people I’m sure that bitcoin and another cryptocurrency will have a considerable percentage to become centralized like other currency. 
Theoretically is can be happen, because most power of btc network states in China.
Any contradictions in the world and China can be mix their power to make 51% attack
It will not happen because in order for bitcoin to become centralized then the china needs to modify the coding of bitcoin to change something and make it accessible for the other people especially the people in the government to slowly control it and do something about bitcoin that will give them benefits and also profit. Any contradictions in the world and China can be mix their power to make 51% attack
I think, anyone who has a lot of bitcoin is the one who can determine the value of bitcoin. Although China is the country with the highest number of bitcoin miners, they will not damage the price. Just like us, they also want profit.
Theoretically is can be happen, because most power of btc network states in China.
Any contradictions in the world and China can be mix their power to make 51% attack
Any contradictions in the world and China can be mix their power to make 51% attack
If it will happen - it will go against Bitcoin's and cryptocurrency's ideas and ideologies. So I hope that it won't happen. Centralization is not good for cryptocurrency world.
I don't think this will happen. Decentralization os one of the main bitcoin features and changing this into centralization would break basic principle of functioning. Thus bitcoin would have completely different logic and that would influnece the commuity deeply. This might aldo influence bitcoin price in a negative way so I don't think centralization would be allowed.
Jump to: