It shows from the past months that BTC can easily be manipulated by the whales and financial institutions,so its morelikely being centralized currency now bigplayers always wins.
Topic: Will Bitcoin become centralized sometime in the future? - page 39. (Read 8103 times)
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.
when china dominates bitcoin mining, i think they do not master the system because the character of bitcoin is decentralized. in terms of mining they dominate, but that does not mean they make bitcoin centralization.
if bitcoin is centralized, bitcoin will not last long, and we also see that china bans crypto, and if central bitcoin is in china, then bitcoin will not survive.
if bitcoin is centralized, bitcoin will not last long, and we also see that china bans crypto, and if central bitcoin is in china, then bitcoin will not survive.
i think if bitcoin being controlled by peoples or governments, it will become centralized someday.
but if the community of bitcoin stay supporting the decentralized value of bitcoin, it will stay decentralized.
but if the community of bitcoin stay supporting the decentralized value of bitcoin, it will stay decentralized.
That is certainly true, mate. It all depends on the people which are using Bitcoin. If they allow big mining corporations like Bitmain and governments take the lead, then the pioneer cryptocurrency would become centralized. However, if the community takes the effort to ensure no one controls the cryptocurrency, then it would become decentralized. Despite this, Bitcoin might be headed towards the path of centralization as I've seen that no effort is being done to prevent mining centralization by Bitmain, as well as Core's decision to implement further upgrades within the network.
Over the past years, Bitcoin has shown that it's nearly impossible to reach consensus. SegWit would've never reached the level of consensus it did if it wasn't for the 2x part. Once consensus was finally reached, then the 2x part was cancelled, allowing Core to prevail in the long run. As such, I believe that Bitcoin needs greater governance, and decentralization of mining, to prevent it being controlled by a single entity. A quick solution would be to implement an ASIC-resistant algorithm and use something like masternodes for community voting. That way, Bitcoin would be much more decentralized than what it is right now. Just my thoughts
Yiu made some nice observation,bitcoin is to a large extent centralised due to asics mining hardware.SOme large companies own very large share of the network as opposed to everyone sharing a tiny bit.Also strict Government regulations will likely make bitcoin less attractive to the middle class and more to the rich-more centralization
unfourtunately so many people and corporations try to become the monopol in the mining industry and if they succeed the centralization is inevitable because after anarchy an order have to come and a more centralized order.
However, bitcoin is a decentralized currency, and its developers will do their best to keep it that way. Otherwise the whole point of it is lost.
If bitcoin is centralized in the near future then it loses it's ideology because decentralization is the catch of crypto currency. So I really don't see it happening.
i think if bitcoin being controlled by peoples or governments, it will become centralized someday.
but if the community of bitcoin stay supporting the decentralized value of bitcoin, it will stay decentralized.
but if the community of bitcoin stay supporting the decentralized value of bitcoin, it will stay decentralized.
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.
I think there is a possibility for Bitcoin to be centralized sometime in the future. Knowing its varying value and varying users which continuously increases. Thus, it can be.
Why should it be like that? while the reverse mission is to make all activities more transparent and manageable independently. this is progress.
IN MY opinion , bitcoin will always be a decentralised currency, whether be regulated or be legalised . No one can change about bitcoin. No one will violated its principle. When bitcoin will be exchanged into local currency or flat currency , that would be or in that process will be centralised. Because that is now being controlled by the government , that is why they are pushing up to regulate it but they can not. In my own idea, iit can only be taxable when converted it real Money.
That is certainly true, mate. Bitcoin will always provide you with that level of freedom you need to transact with anyone around the world without borders or limitations. Even if exchanges become largely regulated, and Bitcoin becomes banned within a country, there's nothing stopping it from becoming used in a peer-to-peer fashion. Bitcoin can be used around Tor, and even in person, allowing it to continuously be used in the mainstream world no matter the latest efforts of the governments.
Nevertheless, I think that Bitcoin would remain decentralized for quite a few years from now. As long as no single entity owns the network, there should be nothing to worry about. Just my thoughts
For me, I guess Bitcoin is still far enough on "centralization" as it undergoes serious issues on pursuing to be "economy-friendly" due to different regulations on each country. If every nation opens their mind and hearts freely, I think there is a possibility for that event (I hope so). Nonetheless, the criminals also contributes to that negativity issue as it poses threats on our daily lives.
To this all and goes. This has been predicted for a very long time. Nothing surprising. Bitcoin will never be the world currency because of its shortcomings
Bitcoin is Bitcoin because it is decentralized. Bitcoin could be unified, however it wouldn't be Bitcoin according to Nakomoto's White Paper. It at that point would have formally fizzled. Bitcoin is the motivating force to keep the Bitcoin blockchain secured. Without that motivator there would never again be the put stock in factor, the system would have lost security.
I think it is very difficult because not all countries accept bitcoin well let alone to set the world market. because if the government agrees with it what if there is no more internet where we will sell it and transact of course this will be difficult because no one knows the age of the internet.
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 bitcoin becomes centralized it would not allow for it to grow further. The purpose is that controlling specialist always aims at even more and more profit, which often affects the consumers. To eliminate this bitcoin has to continue as a decentralized digital currency. Sometimes typically the miners gather together as a community and boost increased fee for purchase or something linked to that, but they too will just not support centralized system. Miners too will get affected when this happens because they will be under a new head.
our revolution 
I think that Bitcoin will become more decentralised in the future, in fact. The whole transaction data of Bitcoin is quite big but not as big as Ethereum's. Because of SegWit, the blocksize is maximum 4 MB which is not that much, we barely use a little bit more than 1 MB because many transactions are still not SegWit ones. In the future, more companies might be interested in manufacturing ASICs. i wouldn't be surprised if Samsung decided to release their own miner and try to compete with Bitmain. This would be definitely a big step forward to decentralised network.
Jump to: