Topic: Will Bitcoin become centralized sometime in the future? - page 33. (Read 8103 times)
I don't think and don't see that bitcoin will go centralized, Bitcoin is made to be centralized in its feature. This is one of the reason why people choose to invest on it. Instead of making it centralized, creation of new kind coin that is centralized will be available. Ripple is a good example of a centralized coin, it has good demand in the market but people still choose bitcoin even decentralized.
Even the techlogy itself, which BTC is based on, excludes such an opportunity. There can be some limited version, where number of clients would be lited to dozens, not millions, but that won't be a coin we all know and love
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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.
No ,bitcoin will not become centralized in the future , because the characteristics of bitcoin is decentralized away from ,government supervisions and monitoring, it works and circulate in the digital world independently , so bitcoin will not go to be centralized in the future to come.
How can bitcoin ever become centralized when its true concept and the idea it was built on is 100% decentralized? The fact that some whales control most of the supply does not make it centralized. Sooner or later, more and more people will own btc and split the supply between more and more people.
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.
Coins like BTC, TAU have a great privacy and security system. If Bitcoin is centralized, no doubt there will be a good decision making panel, however, privacy of traders will be at stake, therefore it is better to keep it decentralized. 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.
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.
I don’t think Bitcoin will be centralized. It is a foolish decision. The governments will be able to destroy it and invade every user’s privacy. PRG for instance will be ruined if it leaks privacy of users.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.
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.
I don’t think Bitcoin will be centralized. It is a foolish decision. The governments will be able to destroy it and invade every user’s privacy. PRG for instance will be ruined if it leaks privacy of users.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.
The whole idea behind Bitcoin was to create a decentralized currency, a currency free from the Governments and banks. If someone somehow managed to centralized it, that would mean Bitcoin has failed its original purpose and it will become worthless. Bitcoin is very much the future of finance and it will become your go-to currency in near future.
it could happen if the government allows bitcoin into currency, if that happens then bitcoin will be focused on the state finances and hastily by many people, because currently bitcoin is only concentrated in the world of crypto trade 
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 think it will be ironic if bitcoin or any other cryptos will be decentralized if they are originally made as a free currency. Being decentralized is an important feature because it lessens the expenses and speeds up the transactions. Hopefully, cryptos will keep improving but I like its characteristic as decentralized to remain.
I agree with you to some extent. Mining is becoming difficult with time and thus only big players will remain in the field of mining.
The whole idea behind Bitcoin was to create a decentralized currency, a currency free from the Governments and banks. If someone somehow managed to centralized it, that would mean Bitcoin has failed its original purpose and it will become worthless. Bitcoin is very much the future of finance and it will become your go-to currency in near future.
If bitcoin becomes centralized then there will no more bitcoins because decentralization is the principle fundamentally to bitcoin. Then the government may have win the war against bitcoin and the value will surely drop.
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.
of course, bitcoin is centralised, the whole decentral bitcoin is just a marketing slogan, in truth bitcoin is an election with computation power.
the one with the most computation power is the one that becomes the king and the wealthiest man of bitcoin
actually a very retarded way of distrubuting power
Athough the economics of mining would suggest that centralization is inevitable, the degree to which users require decentralization will ultimately dictate how much Bitcoin becomes centralized. In my opinion, if users are ardent in their preference for a completely decentralized system, miners can’t consolidate power without risking that the network will be abandoned.
This is very likely to happen when the reward for the found block is only the transfer fee. Then, many miners because of the disadvantages will no longer mine.
The government cannot control bitcoin or change some code in the blockchain to just make it as a centralized crypto currency.The government uses their power to manipulate the bitcoin.They used their power to control the decentralization and turns it into a centralized monetary system.
Bitcoin is one of the most recognizable cryptographic currencies and bitcoin is one feature of Blockchain technology and all transactions with blockchain will be transparent and centered in the future.
Bitcoin is as virtual as credit cards and online banking networks that people use every day. Bitcoins can be used for online payments and in real stores, as well as any other kind of money.
I think there is a possibility that bitcoin will be centralized in future. We all know that more and more people are getting interested to engage in btc industry because of its very profitable value. So if this can continue for a long time and recognized by all countries and that is the right time.
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