Topic: Will Bitcoin become centralized sometime in the future? - page 37. (Read 8114 times)
I am fully confident that bitcoin will never become centralized, as it contradicts his idea. Its decentralization is one of the main advantages.
it seems that I see the bitcoin is centralized seen from several points that are connected and have a very high level of crisp or security, but for the future will be created bitcoin nobody will know.
I agree that BTC will become centralized, and at that time, BTC is same function as USD and will used for some services and fields.
It's possible 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.
In fact Bitcoin is already much more centralized than several of the other cryptocurrencies around. Not only miners are getting less and less and bigger and bigger, but also people who download the whole blockchain become lesser and lesser. Moreover, whales are swallowing more and more coins by the way of speculations.
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 think it is impossible, because the principle of bitcoin system is already decentralized patent. and until when bitcoin will remain a digital financial asset. 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.
Definitely with Asic's its moving very much to be centralized system and it’s not going to get better. Bitcoin is being adopted rapidly and if you are betting on Bitcoin to reach mainstream adoption as fast as possible, you are also betting on the cost of technology to drop even faster.
Agree. I'm afraid that Bitcoin may become centralized in the future, just because there's a single ASIC manufacturer called Bitmain which has the most dominance in mining hashrate. Unfortunately, this becomes a serious risk for the security of Bitcoin as it's exposed to 51% attacks. Bitmain could easily harm the Bitcoin network at its own will, by political or economic interests, among other factors. As such, Bitcoin would need to implement an ASIC-resistant algorithm as soon as possible to prevent a single entity of gaining most of the network's hashrate.
Unless, other competitors come into ASIC mining, Bitmain will become a monopoly where it'll reach a point where it could do whatever it desires to destroy Bitcoin and other cryptocurrencies. Altcoins which have claimed to be ASIC-resistant by design like Ethereum and ZCash have also been affected by Bitmain, further threatening their decentralization.
Nevertheless, I hope that Bitcoin would remain as decentralized as possible to allow anyone to participate in it. One of the biggest issues is mining, but there are other factors that would question the level of decentralization within Bitcoin in the future. It would be up to the community to maintain Bitcoin as a decentralized cryptocurrency, or else, it will fail. Just my opinion
Yes, bitcoin will become centralized sometime in the future because of being systematic in their business and also the blockchain market can regulate and centralized the transactions in the business.
Yes bitcoin increased speedly and this speed going then sometime after centrailized. I thought almost centrailized now a days.
Apart from the likelihood that miners increase in difficulty in bitcoin mining can lead to centralization, is it possible that whale bitcoin owners can also be a reason for centralization of bitcoin? Can these owners manipulate the bitcoin market in the coming years?
maybe someday bitcoin will change their status from decentralized to centralized because of some reason that we can know right now is the main problem that bitcoin is not accepted in a country is because bitcoin doesn't have a central, like a central bank, maybe someday bitcoin can makes the central of bitcoin si bitcoin can accept in many country in the world
I think all of us are hoping and praying that this will happen. That bitcoin will become centralized. But I think it is a long process to become possible because all we know that government are against to bitcoin because there is no permit to operate coming from legal government on any bitcoin operation. If bitcoin will become centralized all of us will be benefited because the use of bitcoin will be widen and this will be more convenient and we will have more smooth and faster transactions. But I think the value of bitcoin will be fall when the time that happen because all of us are using on it.
Many operators have successfully installed bitcoins. Thus, bitcoin will be exploited centrally. This is very convenient as it allows for quick extraction and cost savings. Currently, bitcoins are available all over the world but will be concentrated in some places.
Please no, i don't want bitcoin become centralized. because if that happened, bitcoin would controlled by something or someone only.
for now, bitcoin and cryptocurrency are freedom. the currency is on your own hands, you can use it with your own will
for now, bitcoin and cryptocurrency are freedom. the currency is on your own hands, you can use it with your own will
I don't figure BTC will end up centralized later on. For me individuals who are connect with it exceptionally to the huge investors doesn't enable it to wind up centralized uniquely on the off chance that it is being controlled and controlled by the government. They rather need it to be decentralized and execute unreservedly without impediments from the expert whenever and anyplace.
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.
This is also my perception of Bitcoin that someday it will become a centralized cryptocurrency because of so many countries which are going to builds some rules and regulations about crypto, so it seems that government will take control of all activity of Bitcoin and also altcoin like for example trading, exchanges of coin or even investing and for sure tax will follow after all.
We do not need a centralized bitcoin since it is not necessary for bitcoin to have a central agency in order for it to be accepted by the society. What bitcoin need is the legality and I am referring to the rules and regulations. If the state accepts bitcoin and places rules and regulations on the use of it then we do not fear anymore that bitcoin will be banned anywhere in the world.
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.
This is also my perception of Bitcoin that someday it will become a centralized cryptocurrency because of so many countries which are going to builds some rules and regulations about crypto, so it seems that government will take control of all activity of Bitcoin and also altcoin like for example trading, exchanges of coin or even investing and for sure tax will follow after all.
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.
This is also my perception of Bitcoin that someday it will become a centralized cryptocurrency because of so many countries which are going to builds some rules and regulations about crypto, so it seems that government will take control of all activity of Bitcoin and also altcoin like for example trading, exchanges of coin or even investing and for sure tax will follow after all.
Same here and I think it is really possible that Bitcoin will be centralized one day, most especially now that bitcoin is slowly being known worldwide and some have the knowledge on what its use is so once a certain country would legalized it and taxed then it will be centralized. It is scary and some might not like it but it is a fact that it will likely happen.
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.
This is also my perception of Bitcoin that someday it will become a centralized cryptocurrency because of so many countries which are going to builds some rules and regulations about crypto, so it seems that government will take control of all activity of Bitcoin and also altcoin like for example trading, exchanges of coin or even investing and for sure tax will follow after all.
I think it is impossible, because the principle of bitcoin system is already decentralized patent. and until when bitcoin will remain a digital financial asset.
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