Topic: Will Bitcoin become centralized sometime in the future? - page 4. (Read 8114 times)

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

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.

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.

it is too hard to say but i think if bitcoin becomes official currency, it must become centralised.

To guarantee a type of centralisation never occur, the most ideal way is still to spread the hashrate fixation to numerous new pools. I figure since there is an ever increasing number of individuals coming into the amusement, and much more will come I think in light of the fact that about the cost rise, activities will never must be taken. furthermore, I think it as of now is concentrated with the likelihood of a decentralized out if that centralization turns out to be excessively self-evident. bitcoin could utilize an authentic startle to strengthen what it should all be about.

Wow. A little unexpected. I never thought it that way. Thanks for sharing!

I think it's very difficult to see Bitcoin being centered. because if not then the value as crypto will disappear. and It will also be the cause of Bitcoin's value to fail because most people will lose their interest in it, and the government does not seem to have the will and willingness to concentrate bitcoin but they are busy with their projects creating virtual blockchain fiat currencies.

It will be an awesome news.

I wish it will happen.

Of course, we cannot rule it out. Moreover, there is information on how it can be and is probably being done. Here's the link:

https://en.wikipedia.org/wiki/Bitcoin#Decentralization_and_centralization

That's certainly true, mate. Centralized exchanges greatly defeat the purpose of cryptocurrencies since they bring back the middleman. Satoshi's vision was such were Bitcoin could operate independently from middleman or third parties. However, with centralized exchanges dominating crypto land, we're heading back to the way everything was were bankers and governments had full control and custody over our money. Regulations can be greatly enforced within centralized exchanges, which requires them to comply with the government's interests or else they would need to shut down operations (which is unlikely as exchanges want to keep growing their business model).

For such reasons, Bitcoin and other cryptocurrencies need to be traded or exchanged within decentralized exchanges which eliminate the middleman or central operator. Once this is done, then crypto land would become much more decentralized than what it is right now. In addition, Bitcoin's mining process is highly centralized where Bitmain (leading manufacturer of ASIC mining hardware) has a huge monopoly over the same. In effect, if Bitcoin and other cryptocurrencies continue their current path, they could become easily dominated and limited by governments and banks interests.

Hopefully, Bitcoin would keep this in mind, to become as decentralized as possible just like Satoshi intended it to be.



Yes. The current state of Bitcoin's mining process is highly centralized where Bitmain controls more than 51% of the network's total hashrate. At any given point in time, they could easily destroy Bitcoin due to government interests. As such, I believe that something needs to be done, to include even the smallest miner within the Bitcoin network to help increase decentralization. Because not everyone is able to participate in Bitcoin mining, because ASIC hardware is expensive. On the other hand, ASIC-resistant cryptocurrencies like Monero and Bitcoin Gold are much more decentralized than the original Bitcoin, since they allow anyone with at least a GPU to participate in the network's consensus.

GPUs are much more affordable and accessible than ASIC mining hardware, which I believe that they could become the future of cryptocurrency mining. However, it will all depend on the people's interest to adopt this technology, as currently all the eyes are on Bitcoin (despite it's turning into a centralized cryptocurrency).

Nevertheless, time will tell us if Bitcoin could remain decentralized for the long run or not. Just my opinion

I hope So.

our hope is that bitcoin will become centralized, so that the development of bitcoin can grow again, and the government gives the green light to bitcoin. because things like this are very much expected by many people and have been waiting for a long time

I agree. How can BTC be centralized if it is a part of a decentralized system? I don't understand. I can understand regulation, but I cannot imagine centralization or control over Bitcoin. It doesn't make sense to me.

Interesting question! Or course government can't let BTC go before take absolutely control about it but how they can centralized that - it's really interesting.
Maybe one day all countries will measure their power counting percent of bitcoin owning by country.

it will be nice if this happen at least power of bitcoin will be distributed among all people equally,  and government control will be on it and it can be traded more efficiently and frequently.

it's already centralized, we use bitcoin for buying for payments by converting into US dollar..

I'm not sure it CAN be centralized at all, but it might or it probably will be regulated since it may be beneficial for all the participants of the cryptomarket. What I fear is the scenario when a government (US, for example) will issue its own crypto-reserve-currency which will be a hybrid of BTC and USD and the BTC might lose its position up to its extinction...

If it is happen that bitcoin will become centralized in the future I think this is good to all us as investors because we can surely analyze what will be the real trend of its market. Then concentration of bitcoin would be handled purely by the government and would run smoothly by lawful means of transaction. Maybe in this way it could fully helps for the development of country economic growth by means of taxable transaction in a lawful process.

Right now, the centralization of bitcoin is a matter of concern to everyone, and we all know that the computing power is now more and more concentrated in a small number of people, so it is very bad for the development of the community to make the coin too concentrated.