Topic: Will Bitcoin become centralized sometime in the future? - page 3. (Read 8103 times)
I think that there is such a possibility but this will happen a bit later in the future, not now as people aren't ready for such experiments today. Government also doesn't want to take part in all this
I've read an article about Bitcoin centralization and I was really surprised. I couldn't believe it was possible. Now I know for sure it is possible even with a decentralized crypto, but I'm not sure about the future. Anything could happen, you know...
To ensure some sort of centralisation never happen, the best way is still to spread the hashrate concentration to multiple new pools. I guess since there is more and more people coming into the game, and a lot more will come I think because of the price rise, actions will never have to be taken.
Bitcoin becoming centralized sometime in the future has a high possibility. Becoming Centralized takes time and it cannot happen in just a snap of your fingers so when we give time to bitcoin to become centralized it can come true later on
Very possible if in the future Bitcoin can become a centralized financial system.
With the various features that are owned at this time it can all be a very strong capital.
Flexibility, convenience, speed and security become a slogan when we conduct digital financial transactions.
With the support of all of us, Bitcoin can become bigger and will try to digitize in the financial system in the world.
With the various features that are owned at this time it can all be a very strong capital.
Flexibility, convenience, speed and security become a slogan when we conduct digital financial transactions.
With the support of all of us, Bitcoin can become bigger and will try to digitize in the financial system in the world.
I hope it's not going to happen because it will then defeat the purpose as to why bitcoin has been created in the first place. It was created for decentralization and it should remain that way.
No body or organisation is capable to control cryptocurrency or BITCOIN as the whole world is not ready to accept cryptocurrency and also because all the governments would not join hands to form such an organisation.
if we keep being optimistic there will always be a chance that bitcoin will be a huge deal in the future we just need a proper promotion of bitcoin through our achievements and commercials and advertisement via magazines, newspapers etc.
If bitcoin is to be centralized, it means it has deviated from the concept of creating bitcoin, I think slowly, many will leave bitcoin.
Because as soon as it becomes centralized it'll cease being Bitcoin, won't it? I've always thought BTC is decentralized by its nature and hierarchy. If it is, how can it be centralized, anyway? Is that possible at all?
Don't worry dude, nothing will change the nature of bitcoin, even if it's a government. the government can only provide rules for data verification later, but they will not be able to force it because of anonymous users, centralization is only present when you join in exchanges under the government
Bitcoin has gained the popularity only because of its decentralized nature. The cryptocurrency cannot be centralized (Ripple is not the real crypto). That is why BTC will remain the same digital money as we know it.
centrally unofficially, or perhaps almost the same as monopolizing bitcoin. this is indeed very worrying, because the bitcoin market also controls the altcoin market, and all cryptocurrency assets circulating in this world are quite large and dangerous if they fall in the hands of the wrong person
I'm actually not waiting for BTC to become a giant, but I'm waiting for the implementation of blockchain in the government system in all countries in the world
I'm actually not waiting for BTC to become a giant, but I'm waiting for the implementation of blockchain in the government system in all countries in the world
Its been a years since 2009 where bitcoin has been established here in this industry. Then from that period of time even up to the present Bitcoin still stand of the concept in decentralization. So what doesn't it mean? meaning, it shows Bitcoin will remain on its concepts in terms of decentralization and centralization will not be happen to it. Base in my opinion, I don't know to other's assessment here they have to your question.
I hope that won't happen. We must protect bitcoin by continuing to support it early, this can help many people to use it as an investment and digital currency. Bitcoin is freedom because of decentralization, if it gets centralized, it's not bitcoin anymore but the government tries to control it.
Well i do not see also that it is good to centralized bitcoin and cryptocurrency because there could be no good when we like to invest in a crypto or ICO project and literally we will use fiat money for it so it would be difficult for an investor to earn because the demand will not increase and the coin market price will stay the same. There could be less profit depending on the goodness of the project being realized. The technology itself cannot be centralized but in the event of compromise, the exchange sites, mining industries, and Bitcoin or crypto related platforms will become centralized. The governments can only impose regulations for the mentioned platforms to control the activities of Bitcoin and its transactions.
Yes I think it is nearly impossible to happen in the future but if the government will find its way to centralized it then it will be possible by registering our bitcoin address throug kyc I guess.
when all the blocks where mined after that i dont think chaina will have the capibilty they have right now. or if people are thinking about the transaction fee devidation then let me tell you that the compitation level will be highest at that time because the difficulty will remain same and every body can invest a fixed amount on a machine and can mine and get a portion of the total transaction fees
As the other members here in the forum stated so there is no way that all bitcoins will be mined because the supply is that huge and the transaction fee or the mining fee does not compromise the supply of bitcoin. Aside from that there are many miners here coming from around the world so there is no monopoly in mining bitcoin here.
In my opinion, actually, it has been started righ now. As we already know there are so many exchangers that centralized. It means that the markets can control the bitcoin which trade in their markets. When we trade in centralized market, it means that the cryptocurrency has been centralized. So, when we wanna make it still decentralized, we should use decentralized market.
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.
I think bitcoin cannot be centralized in the future, bitcoin will fluctuate and will be centered by people who invest there depending on the market. I am more worried about the absence of the Internet and cannot trade.
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.
That is just a delicate question to digest per now because am sure that has to be unfolded by reason of time and well exposure of btc. We know as the story of btc extends and reach out to a lot of more people and draws people on board then definitely it might be in the making to set that record straight with government support. We hope the future can make it possible for centralization of bitcoin
I hope that won't happen. We must protect bitcoin by continuing to support it early, this can help many people to use it as an investment and digital currency. Bitcoin is freedom because of decentralization, if it gets centralized, it's not bitcoin anymore but the government tries to control it.
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