Topic: Will Bitcoin become centralized sometime in the future? - page 40. (Read 8103 times)
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for me if that happens maybe it's not right now and it is very far from it, but if you think of one of the best things that bitcoin is there is no one can control over it because it is decentralized. Maybe they can control their own bitcoin but not the entire bitcoin in the market.
Bitcoin will never be a decentralized digital currency since it is made to be decentralized. That is the reason why a lot of people are attracted to Digital currency since it is decentralized, and yes mostly because of the volatility. I think that will be really devastating seeing Bitcoin as a Centralized digital currency and I think the volatility in there will be lost also.
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.
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.
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.
for me if that happens maybe it's not right now and it is very far from it, but if you think of one of the best things that bitcoin is there is no one can control over it because it is decentralized. Maybe they can control their own bitcoin but not the entire bitcoin in the market. 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.
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I don't see this as a possibility. One unique feature of bitcoin is that it is decentralized. If it is centralized then it is not bitcoin anymore. And no one owns bitcoin. Bitcoin is owned by the users and owners. Maybe you just become more powerful if you invest greater amount.
If BTC becomes centralized it will lose its cryptocurrency status, but it will come with its benefits, the legislation battles will be a thing of the past and probably the value will be slightly higher but highly regulated, BTC will lose its freedomn
There is no sense in making Bitcoin a centralized currency. It attracted the first investors as it offered the coolest scheme of transactions, low fees for these operations and the highest speed
Exactly.. bitcoin under regulation will be stable in price like gold. it won't be attractive anymore as asset of investment. Centralized means it will come into many formal steps to involve in bitcoin business, also administrations and fees.
I don't think this will happen. Bitcoin / Blockchain doesn't belong to any government. no one has the right to regulate it.
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 ma not sure but I don't really think that thisbthing could happen even in the future. BITCOIN is a decentralized currenvy right from the start and I bet everyone is awared of that information. Being centralized also refers to being controlled by the government such as beibg taxed or regulated and since Bitcoin is an open source system I highly doubt that it is possible to happen. 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.
when all blocks where mined after that I do not think chaina will have the capibilty they have now. or if people think about transaction costs will be the highest level in the world, the total transaction costs more and more and the whole world opens transaction fees for bitcoin.
There is the only way to regulate Bitcoin by gaining 51% or more mining power but in such case, the controlling authority would have a right to double spend and hence it won't make any sense of trust and the core ideology, in that case, resulting in a massive price fall. It would be similar to the suicide attempt making the whole network worthless so I don't see any such possibility. No one would go with such costly suicide attempt along with his wealth and resources.
I know it's decentralized, nobody controls it, etc... But sometimes I think this is just an illusion, the true is that the whales control Bitcoin, those who controls big amounts change the course of the currency and the little fishes just can choose the right side to make the profit with the whales.
So I think Bitcoin is "indirectly centralized".
So I think Bitcoin is "indirectly centralized".
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I don’t think this will happen because all the popularity bitcoin has gained from last 8 year is because of this decentralized technology and if it becomes centralized it will affect the popularity of bitcoin.
Bitcoin came out as a decentralized technology but with ASIC mining has become a centralized thing for the past several years and bitmain is having a monopoly in the mining hardware department and only big mining farms can take advantage of them, home based mining died long back and i do not think we could see any change in that aspect too. 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.
No, i dont think bitcoin will become centralized because monopolize in mining.
The one who monopolize bitcoin is the one who have much money to buy bitcoin.
Maybe not. The centre and the basis for bitcoin market is the fact it’s a decentralized. Not now not ever will bitcoin be decentralized. It will loose its purpose if it become decentralized.
I don't think bitcoin will become centralized in the future. For me people who are engage with it specially to the big investors doesn't allow it to become centralized specially if it is being controlled and manipulated by the government. They rather want it to be decentralized and transact freely without limitations from the authority anytime and anywhere.
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.
For me the right term should be regulated as to ke one of the most essential factors and tenets that made bitcoin and the whole of the cryptocurrency market known is its decentralization which to me speaks that the public and the masses want a financial and economic system that is not being controlled by a government or that they want a clear and transparent stock market.
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.
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.
You probably do not think big guys keep many Bitcoins, but big investors can own more Bitcoins. The number of investors holding Bitcoin in bulk is tiny but few of them possess it from mining. Do not worry because Bitcoin loses its dispersion because it's an economic investment, but the Giants are the ones who change the rules. 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.
Well the future of technology is becoming less and less predictable and whatever you say can change within hours, so in my opinion there is a chance for btc somehow to be centralized,
currently bitcoin is not centered on anyone, and ownership of bitcoin in private and doesn't involve any party. it is possible that in the future it can happen, given the rules that will be made by the government and will also be counted from the country with the most bitcoin users.
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