Topic: Will Bitcoin become centralized sometime in the future? - page 26. (Read 8114 times)
Bitcoin has been working perfectly online trading and investment for over a long period of time with out breaking down, or loosing much. Secondly bitcoin always keep every transaction details accurate in any given time. Soon it will be a centralised point.
Its hard to see Bitcoin Being centralized coz if it does then its value as a crypto will be lost, But again if you look closely, centralization of Bitcoin is probably the only way in which the governments will fully legalize Bitcoin operations, the rest remains to be seen as the legislation Battles take center stage
One great thing about Btc and almost all crypto is decentralisation. Apart from the fact that it yields higher profit when you invest in it, decentralisation is another feature that attracted and keeps attracting people into crypto.To me the day Btc becomes centralised is the beginning of its end.
True, Bitcoin as a decentralized currency will be a centralized digital currency because it will be the number one digital currency worldwide with the most holders. In my opinion.
It would in any case stay as it ought to be and im firmly accepting on that thing in light of the fact that regardless of how trouble increments and excavators would be more created or overhauled it doest extremely imply that it will make bitcoin to be decentralized and we as a whole realize that bitcoin cannot be not really controlled by any third party.If they would plan to control or incorporated it then they will experience serious difficulties on breaking it without a doubt.
Bitcoin does not need to become a centralized coin, otherwise the whole meaning of the cryptocurrency will be lost. After all, now it is good that the coins are not centralized.
Bitcoin becomes centralized in the future, and I think it's possible. At present, 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
I don't think that Bitcoin centralization will ever happen, China is leading the world in mining but other countries are catching on.
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.
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 is already centralized. The big miners with the huge farms that costed millions of dollars control already the majority of BTC.
I think this will not happen. we know that bitcoin is decentralized. bitcoin stays going without anyone's help. if this is centralized many companies may be asking for our real identity.
I share the same thought,at some point, Bitcoin will grow so much that it will be almost impossible to ignore its influence, at this point, the governments might reach a truce and decide centralize the coi and make it illegal so that it can operate legally. This way, the governments get something off it through taxation, and the Bitcoin users will be protected from extreme dips. It shall all come down to a consensus between the regulating bodies and te Bitcoin users, if an agreement cant be reached then BTC will remain decentralized
you can already see in some countries like Germany, France, Japan etc that they're regulating bitcoin the way that they're not going to default and start banning it.
These countries might accept Bitcoin, legalized it even but I don't think that they will go to a point where they need to centralized Bitcoin or even other digital currencies since it is one of the most popular feature of Bitcoin and most of the crypto currencies. The reason it is legalized in order to protect the users of it on the country, I don't think that if they did not legalize it is illegal, it don't work like that.
I share the same thought,at some point, Bitcoin will grow so much that it will be almost impossible to ignore its influence, at this point, the governments might reach a truce and decide centralize the coi and make it illegal so that it can operate legally. This way, the governments get something off it through taxation, and the Bitcoin users will be protected from extreme dips. It shall all come down to a consensus between the regulating bodies and te Bitcoin users, if an agreement cant be reached then BTC will remain decentralized
you can already see in some countries like Germany, France, Japan etc that they're regulating bitcoin the way that they're not going to default and start banning it.
This is exactly what governments want. Governments usually support the blockchain technology and bitcoin and and at the same time they like to control the transactions to find the people who do illegal activities. It means that they wan a cryptocurrency which centralized. It's impossible to have both bitcoin and centralization simultaneously. Bitcoin is not a cryptocurrency if it is centralized.
Certainly the bitcoin can be a centralized sometimes in the future because that's what's going to happen
It will be very easy for the government to destroy it, and users will lose anonymity made from the past, everyone who owns the computer has a CPU. But now the only effective way to exploit Bitcoin is to have an ASIC miner, a dedicated Bitcoin miner. Nowadays, not everyone can exploit bitcoin because of expensive equipment
This is really good news for cryptocurrency! Cryptocurrency market will be stable in future of course, If those plan will come in real then I think another revolution will happen. And, iI hope after June, we will see results of this step.
I believe it will not. The only possible thing that will happen is that exchanges all over the country can be decentralized in order to get tax from the crypto community.
at the point when every one of the squares where mined after that I dont figure chaina will have the capibilty they have at the present time. or on the other hand if individuals are contemplating the exchange charge devidation at that point let me disclose to you that the compitation level will be most noteworthy 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 part of the aggregate exchange expenses.
I think it can reduce value because it's centralized and I think people who use their bitcoin want privacy and become anonymous and in my opinion this has been centralized with the possibility of decentralization if the centralization becomes increasingly clear
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