Topic: Will Bitcoin become centralized sometime in the future? - page 25. (Read 8114 times)
when all whale join their btc and have more than 60% from total supply,that is the end of decentralized era.they can easy manipulate market and the price will depend on them.thats what i scared.
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 dont think bitcoin will become centralized just because mined by some big parties.
if they mining with a great portion of share, they only have bitcoin more than us, not making bitcoin centralized.
though with the amount of their bitcoin, they can control the market price.
In my opinion, if for some reason the BTC becomes centralized, its price will fall dramatically, as most people would give up on it. They will quit because it will lose the overall idea for which it was created. That is my opinion. 
The bitcoin was conceived as a completely decentralized crypto currency. Because as we see the bitcoin wallet system especially it looks very safe and the payment is very easy. Maybe bitcoin will become the center of the future because of its advantages.
when all blocks where mined after that I do not think chaina will have the capibilty they have now. Maybe they can control their own bitcoin but not the entire bitcoin in the market.
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.
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.
Bitcoin is already been decentralized but to be centralized all over the world as is to become world cryptocurrency will take time, it would take a ;ot of process to do before it become one, because we all know how bitcoin condition is in the world market it up and down.
Exactly, and I believe no one of us will want to change the system. Bitcoin is freedom because of it's decentralization, if it will be centralized, it's not bitcoin anymore but it's the government trying to control everything. If we make bitcoin centralized, then the hacked address can easily be excluded and thus there will be much less hacking happening.
i think it already is centralized with the possibility of a decentralized out if that centralization becomes too obvious. bitcoin could use a genuine scare to reinforce what it should all be about.
For me its possible given the fact, day by day countries who accept Bitcoin as their way yo improve transactions were getting bigger and we can say that to maintain peace and orderliness in terms of community and blockchain technology will remain as it has to be, and I see that governments will require for this since we have to stop money fraud and anomalies.
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.
Bitcoin mining was bound to get centralized and even if you created a solution to this problem eventually someone will create a way to solve that problem and mining will become centralized again, in my opinion we should not try to change that unless we see big efforts by the governments to hunt the miners and we have a need to have a more decentralized way of mining bitcoin. 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.
Centralization would not allow bitcoin to grow better. The reason is that controlling authority always aims at more and more profit, which affects the common users.This fiat virtual currency is centralized and unlike bitcoins it is controlled by banks and by the government. It is controllable, monitored to combat tax evasion, money laundering and forgery.
Once bitcoin become centralized it will be crash severely to the point of corrupt people will take the chance to steal whatever that they can through government services such as helping the poor, senior citizen program and more.
I think if people think about the cost of a devidation transaction then let me tell you that the comparation rate will be highest at that time because the difficulty will remain the same and everyone can invest a fixed amount on the machine and can mine and get some of the total transaction costs
when all blocks where mined after that I do not think chaina will have the capibilty they have now.
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.
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.
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 opinion, I do not think bitcoin will be centralized. It is better decentralized. And maybe its purpose suits the way it is. 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 understand your concerns. This same issue has been bothering the community for quite some time. The community has been actively looking out for other algorithms to mitigate this risk. In fact, out of this list of all cryptocurrencies, many have evolved and have successfully solved this problem. I am hopeful that Bitcoin will solve this problem and come out stronger
In my personal opinion I don't think that the nature of bitcoins will shift to any other than decentralised. Bitcoin can not be centralized otherwise it would lose one of the key points on which the blockchain technology is based.
yeah .... someday bitcoin will be a runaway step to earn money illegally for the losers and thieves of this trouble where it is easier to earn more money for him. if in case bitcoin does not maintain this network with a very strong law to prevent fraud from entering into this network.
The governments of many countries are trying to control bitcoin and the crypto currency's market. A few days ago, we didn't see any cop knows well about bitcoin, but now they are making news about bitcoin that it is illegal, not allow and many things. So, if governments or the Interpol wants, then they can move bitcoin from decentralised to centralised. That will be worst for us. But I think they can't control the blockchain technology, and only there has our hope. I don't want to see bitcoin under centralised.
I think bitcoin can not be decentralized. I think its because bitcoin using blockchain system and thats mean the data transaction spread all around the world. Every miners computer have transaction data and i can not imagine if bitcoin become centralized
i think it already is centralized with the possibility of a decentralized out if that centralization becomes too obvious. bitcoin could use a genuine scare to reinforce what it should all be about.
we hope that it will be centralized sometime in the future. Bitcoin rates are the highest on the crypto-currency market, and if Bitcoin becomes popular in the future, its exchange rate will probably not increase as much as it does now. By that time, people will no longer be interested in investing in bitcoins, as now. And then bitkoyn will become the official currency, for example, offline currency
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