|
Title: Is the bitcoin decentralized? Post by: denis1987221 on July 24, 2017, 12:12:54 PM To begin with, I want to apologize for my English. This is Google translator :) I hope that the meaning will be clear.
Dear community. I wanted with your help to answer for yourself the following question: Is the bitcoin and the rest of the crypto currency decentralized so far? Decentralization is a state in which there is no single center. But we all know that most of the computing power, which in the majority is signed by the blocks, is concentrated in China (since almost all the computer technology associated with mining is produced there) and even in South Korea. And in fact the issue of accepting / not accepting SegWit is decided by the Chinese with the Koreans neighbors. All is well, but the zone of distribution of crypto-currency is not limited only to China and South Korea, what to do if there is some kind of prediction stone, and ordinary users of bitcoin will disagree with the miners on any issue, even scaling, what then? The answer is obvious, the owners will take the upper hand of pools ... again the question is whether Bitcoin is decentralized? thanks for answers Title: Re: Is the bitcoin decentralized? Post by: Mandoy on July 24, 2017, 01:06:44 PM To begin with, I want to apologize for my English. This is Google translator :) I hope that the meaning will be clear. Dear community. I wanted with your help to answer for yourself the following question: Is the bitcoin and the rest of the crypto currency decentralized so far? Decentralization is a state in which there is no single center. But we all know that most of the computing power, which in the majority is signed by the blocks, is concentrated in China (since almost all the computer technology associated with mining is produced there) and even in South Korea. And in fact the issue of accepting / not accepting SegWit is decided by the Chinese with the Koreans neighbors. All is well, but the zone of distribution of crypto-currency is not limited only to China and South Korea, what to do if there is some kind of prediction stone, and ordinary users of bitcoin will disagree with the miners on any issue, even scaling, what then? The answer is obvious, the owners will take the upper hand of pools ... again the question is whether Bitcoin is decentralized? thanks for answers Bitcoin is really decentralized. Unlike traditional banks you do not have control over the money, the banks uses your money in their lending but does not give away to you their income from your money. In this centralized scene only the banks are benefiting from your money. Bitcoin and cryptocurrency on the other hand is not the same with the banks, here you become your own bank since you have control over your wallet. In cryptocurrency whatever gains you have from the increased profit you alone will benefit from it, it is yours to control and use. Compared to banks cryptocurrency is much better since you can even trade or invest it online. Title: Re: Is the bitcoin decentralized? Post by: denis1987221 on July 24, 2017, 01:11:36 PM To begin with, I want to apologize for my English. This is Google translator :) I hope that the meaning will be clear. Dear community. I wanted with your help to answer for yourself the following question: Is the bitcoin and the rest of the crypto currency decentralized so far? Decentralization is a state in which there is no single center. But we all know that most of the computing power, which in the majority is signed by the blocks, is concentrated in China (since almost all the computer technology associated with mining is produced there) and even in South Korea. And in fact the issue of accepting / not accepting SegWit is decided by the Chinese with the Koreans neighbors. All is well, but the zone of distribution of crypto-currency is not limited only to China and South Korea, what to do if there is some kind of prediction stone, and ordinary users of bitcoin will disagree with the miners on any issue, even scaling, what then? The answer is obvious, the owners will take the upper hand of pools ... again the question is whether Bitcoin is decentralized? thanks for answers Bitcoin is really decentralized. Unlike traditional banks you do not have control over the money, the banks uses your money in their lending but does not give away to you their income from your money. In this centralized scene only the banks are benefiting from your money. Bitcoin and cryptocurrency on the other hand is not the same with the banks, here you become your own bank since you have control over your wallet. In cryptocurrency whatever gains you have from the increased profit you alone will benefit from it, it is yours to control and use. Compared to banks cryptocurrency is much better since you can even trade or invest it online. Title: Re: Is the bitcoin decentralized? Post by: CryptonomyCapital on July 24, 2017, 01:26:57 PM Geographically more than 50% of power is in China, but it does not belong to one person or organization.
Title: Re: Is the bitcoin decentralized? Post by: iram1011 on July 24, 2017, 01:27:27 PM To begin with, I want to apologize for my English. This is Google translator :) I hope that the meaning will be clear. Indeed Chinese mines comprise about 80+ percent of the world’s bitcoin processing power. But we shouldn't forget that even if they come from one country (because of cheap availability of chips and electricity), they don’t work for one enterprise and are not colluding. You can take an example of any two companies of a country providing same service. Those two companies doesn't work with each other but compete. So is the case with mining companies. The threat is only from the Chinese government. If Chinese government tries to regulate or ban mining companies. Then, we might be at risk.Dear community. I wanted with your help to answer for yourself the following question: Is the bitcoin and the rest of the crypto currency decentralized so far? Decentralization is a state in which there is no single center. But we all know that most of the computing power, which in the majority is signed by the blocks, is concentrated in China (since almost all the computer technology associated with mining is produced there) and even in South Korea. And in fact the issue of accepting / not accepting SegWit is decided by the Chinese with the Koreans neighbors. All is well, but the zone of distribution of crypto-currency is not limited only to China and South Korea, what to do if there is some kind of prediction stone, and ordinary users of bitcoin will disagree with the miners on any issue, even scaling, what then? The answer is obvious, the owners will take the upper hand of pools ... again the question is whether Bitcoin is decentralized? thanks for answers Title: Re: Is the bitcoin decentralized? Post by: iamTom123 on July 24, 2017, 01:34:12 PM I think this had been discussed in this forum before. I understand or rather we understand that decentralization is at the core of Bitcoin and if you delete or somehow dilute this feature then you just killed Bitcoin and took away its essence. Now having said that, the concern is that a big number of miners are located in just one country -- I am talking of China here. And since miners can be powerful this imbalance can put Bitcoin under the control of a group of people that can somehow chip away its decentralization feature.
We could not also blame why miners decided to be based in China and it is the cheap electricity that is making the country attractive to Bitcoin mining. Had there been a way to reduce the electricity needs of mining then probably this concern will not be an issue because we could have mining distributed in many parts of the globe. We all hope that there can be a way to counteract this situation. Title: Re: Is the bitcoin decentralized? Post by: Star_Bucks on July 24, 2017, 03:21:48 PM To begin with, I want to apologize for my English. This is Google translator :) I hope that the meaning will be clear. I think it is. Due to the legalization of it from other countries which is not yet fully done. Bitcoin is indeed decentralize. Just like what we have here in my country. Bitcoin is very decentralized but still it is not legalized here although the exchange rate is very high. Dear community. I wanted with your help to answer for yourself the following question: Is the bitcoin and the rest of the crypto currency decentralized so far? Decentralization is a state in which there is no single center. But we all know that most of the computing power, which in the majority is signed by the blocks, is concentrated in China (since almost all the computer technology associated with mining is produced there) and even in South Korea. And in fact the issue of accepting / not accepting SegWit is decided by the Chinese with the Koreans neighbors. All is well, but the zone of distribution of crypto-currency is not limited only to China and South Korea, what to do if there is some kind of prediction stone, and ordinary users of bitcoin will disagree with the miners on any issue, even scaling, what then? The answer is obvious, the owners will take the upper hand of pools ... again the question is whether Bitcoin is decentralized? thanks for answers Title: Re: Is the bitcoin decentralized? Post by: bassong on July 24, 2017, 03:22:55 PM It is decentralized, read the whitpaper.
Title: Re: Is the bitcoin decentralized? Post by: kryptqnick on July 24, 2017, 04:24:34 PM Geographically more than 50% of power is in China, but it does not belong to one person or organization. Yes, that's what is really important. I think the question is actually about what we call a decentralization. If we mean no center whatsoever, then btc is not decentralized, because there is a geographical center, as the op stated. If we mean people, then it is a lot more complicated. Say, we know that different big mining farms belong to different people. But do we know they are not in some treaty, or that they are public people who represent one giant who prefers to be in the shadow? I believe not, but we can't really prove it. At least, bitcoin is more decentralized than any fiat and probably than any cryptocurrency as well, because it has the biggest marketcap and community. Title: Re: Is the bitcoin decentralized? Post by: denis1987221 on July 24, 2017, 05:57:50 PM Geographically more than 50% of power is in China, but it does not belong to one person or organization. Yes, that's what is really important. I think the question is actually about what we call a decentralization. If we mean no center whatsoever, then btc is not decentralized, because there is a geographical center, as the op stated. If we mean people, then it is a lot more complicated. Say, we know that different big mining farms belong to different people. But do we know they are not in some treaty, or that they are public people who represent one giant who prefers to be in the shadow? I believe not, but we can't really prove it. At least, bitcoin is more decentralized than any fiat and probably than any cryptocurrency as well, because it has the biggest marketcap and community. Title: Re: Is the bitcoin decentralized? Post by: denis1987221 on July 24, 2017, 06:01:13 PM Well, since we have started here similar questions, I'll ask you something else. Who thinks what will be the reward to the miners after the last award block was signed into bitcoin?
Title: Re: Is the bitcoin decentralized? Post by: iram1011 on July 25, 2017, 02:46:16 AM Well, since we have started here similar questions, I'll ask you something else. Who thinks what will be the reward to the miners after the last award block was signed into bitcoin? This question have also been asked many a times on this forum. Offcourse, there wouldn't be any block reward after all the coins are mined. Miners would only have fees as a source of income. Fees definitely would surge at that time. But till 2140, mining would become quite affordable and hence it wouldn't cost much to miners. Thus, fees will not become unaffordable.Title: Re: Is the bitcoin decentralized? Post by: masterchief001 on July 25, 2017, 02:55:34 AM To begin with, I want to apologize for my English. This is Google translator :) I hope that the meaning will be clear. Dear community. I wanted with your help to answer for yourself the following question: Is the bitcoin and the rest of the crypto currency decentralized so far? Decentralization is a state in which there is no single center. But we all know that most of the computing power, which in the majority is signed by the blocks, is concentrated in China (since almost all the computer technology associated with mining is produced there) and even in South Korea. And in fact the issue of accepting / not accepting SegWit is decided by the Chinese with the Koreans neighbors. All is well, but the zone of distribution of crypto-currency is not limited only to China and South Korea, what to do if there is some kind of prediction stone, and ordinary users of bitcoin will disagree with the miners on any issue, even scaling, what then? The answer is obvious, the owners will take the upper hand of pools ... again the question is whether Bitcoin is decentralized? thanks for answers Bitcoin is really decentralized. Unlike traditional banks you do not have control over the money, the banks uses your money in their lending but does not give away to you their income from your money. In this centralized scene only the banks are benefiting from your money. Bitcoin and cryptocurrency on the other hand is not the same with the banks, here you become your own bank since you have control over your wallet. In cryptocurrency whatever gains you have from the increased profit you alone will benefit from it, it is yours to control and use. Compared to banks cryptocurrency is much better since you can even trade or invest it online. Although the Chinese holds 50% of the power, however, it is neither centralized nor owned by any organization, it is evenly distributed, so bitcoin really decentralizes. Title: Re: Is the bitcoin decentralized? Post by: Wind_FURY on July 25, 2017, 02:59:58 AM To begin with, I want to apologize for my English. This is Google translator :) I hope that the meaning will be clear. Dear community. I wanted with your help to answer for yourself the following question: Is the bitcoin and the rest of the crypto currency decentralized so far? Decentralization is a state in which there is no single center. But we all know that most of the computing power, which in the majority is signed by the blocks, is concentrated in China (since almost all the computer technology associated with mining is produced there) and even in South Korea. And in fact the issue of accepting / not accepting SegWit is decided by the Chinese with the Koreans neighbors. All is well, but the zone of distribution of crypto-currency is not limited only to China and South Korea, what to do if there is some kind of prediction stone, and ordinary users of bitcoin will disagree with the miners on any issue, even scaling, what then? The answer is obvious, the owners will take the upper hand of pools ... again the question is whether Bitcoin is decentralized? thanks for answers Bitcoin is really decentralized. No, Bitcoin is not "really" decentralized. Not the way it used too. With mining pools and the manufacture of Asics, Bitcoin is slowly becoming more like an oligarchy. The politics in the scalability debate is a confirmation of this. Title: Re: Is the bitcoin decentralized? Post by: Qunenin on July 27, 2017, 05:07:45 AM That is a fun question. Six months ago or more, if you had a wallet on your computer and I had a wallet on my computer, and all we ever did was trade Bitcoin back and forth between those two wallets, then what we were doing was 100% decentralized. The fact was that our business between our two wallets was not controlled in any way buy any 'Central' unit. However, if some of the Bitcoin I sent to you you sent to an exchange, did the decentralized concept started to die. It wasn't a big way, simply the fact that website owners had to use databases, software, and other things that were not part of the Bitcoin core. This is the smallest level of decentralization.
Title: Re: Is the bitcoin decentralized? Post by: streazight on July 27, 2017, 07:52:56 AM It is decentralized, read the whitpaper. There is no solid reason for questioning the decentralized nature of bitcoins. Everyone knows that they are highly decentralized and that’s the reason, many states are reluctant to make bitcoins legal currency. Bitcoins offer complete liberty and independence to people over their possessions whereas all other currencies are centralized and people are bound to pay high taxes to enjoy their own money. Title: Re: Is the bitcoin decentralized? Post by: Bitforking on July 27, 2017, 08:24:04 AM To begin with, I want to apologize for my English. This is Google translator :) I hope that the meaning will be clear. Dear community. I wanted with your help to answer for yourself the following question: Is the bitcoin and the rest of the crypto currency decentralized so far? Decentralization is a state in which there is no single center. But we all know that most of the computing power, which in the majority is signed by the blocks, is concentrated in China (since almost all the computer technology associated with mining is produced there) and even in South Korea. And in fact the issue of accepting / not accepting SegWit is decided by the Chinese with the Koreans neighbors. All is well, but the zone of distribution of crypto-currency is not limited only to China and South Korea, what to do if there is some kind of prediction stone, and ordinary users of bitcoin will disagree with the miners on any issue, even scaling, what then? The answer is obvious, the owners will take the upper hand of pools ... again the question is whether Bitcoin is decentralized? thanks for answers Bitcoin is really decentralized. No, Bitcoin is not "really" decentralized. Not the way it used too. With mining pools and the manufacture of Asics, Bitcoin is slowly becoming more like an oligarchy. The politics in the scalability debate is a confirmation of this. decentralised? may only exist in the planets in the universe. bitcoin is controlled by software developers, they just decided to split your digital coin into two. called half penny😂 Title: Re: Is the bitcoin decentralized? Post by: Pejoh Asu on July 27, 2017, 09:15:01 AM To begin with, I want to apologize for my English. This is Google translator :) I hope that the meaning will be clear. Dear community. I wanted with your help to answer for yourself the following question: Is the bitcoin and the rest of the crypto currency decentralized so far? Decentralization is a state in which there is no single center. But we all know that most of the computing power, which in the majority is signed by the blocks, is concentrated in China (since almost all the computer technology associated with mining is produced there) and even in South Korea. And in fact the issue of accepting / not accepting SegWit is decided by the Chinese with the Koreans neighbors. All is well, but the zone of distribution of crypto-currency is not limited only to China and South Korea, what to do if there is some kind of prediction stone, and ordinary users of bitcoin will disagree with the miners on any issue, even scaling, what then? The answer is obvious, the owners will take the upper hand of pools ... again the question is whether Bitcoin is decentralized? thanks for answers Bitcoin is really decentralized. No, Bitcoin is not "really" decentralized. Not the way it used too. With mining pools and the manufacture of Asics, Bitcoin is slowly becoming more like an oligarchy. The politics in the scalability debate is a confirmation of this. Title: Re: Is the bitcoin decentralized? Post by: Dudeperfect on July 27, 2017, 09:19:16 AM Yes, the core essence of Bitcoin is decentralized, anyone can come up and set up a mining equipment but since not everyone is interested in mining, you might see that there are limited miners as compared to that of a number of bitcoin users. The value is stored in the satoshi and if you hold even if a single satoshi in your wallet then you are a sole owner of it and no one can take it from you.
Title: Re: Is the bitcoin decentralized? Post by: mammabitcoin2u on July 27, 2017, 09:31:10 AM To begin with, I want to apologize for my English. This is Google translator :) I hope that the meaning will be clear. Dear community. I wanted with your help to answer for yourself the following question: Is the bitcoin and the rest of the crypto currency decentralized so far? Decentralization is a state in which there is no single center. But we all know that most of the computing power, which in the majority is signed by the blocks, is concentrated in China (since almost all the computer technology associated with mining is produced there) and even in South Korea. And in fact the issue of accepting / not accepting SegWit is decided by the Chinese with the Koreans neighbors. All is well, but the zone of distribution of crypto-currency is not limited only to China and South Korea, what to do if there is some kind of prediction stone, and ordinary users of bitcoin will disagree with the miners on any issue, even scaling, what then? The answer is obvious, the owners will take the upper hand of pools ... again the question is whether Bitcoin is decentralized? thanks for answers Bitcoin is really decentralized. No, Bitcoin is not "really" decentralized. Not the way it used too. With mining pools and the manufacture of Asics, Bitcoin is slowly becoming more like an oligarchy. The politics in the scalability debate is a confirmation of this. Couldn't agree with you more! It's still riding on what it was people not wanting to be obliged to big banks. But I say banks involved all along and slowly showing their face. How long til miners drop out? Or get pushed out because of fees? I see that Antpool/Bitmain rest of their cos own the biggest share. When btc breaks into 2 they will offer mines more just til the other is "bankrupt" no or hardly any miners left. China n India (getting smarter) with their population combined equals half of the globe. I gotta learn Mandarin or Hindu >:( Title: Re: Is the bitcoin decentralized? Post by: samuraijin on July 27, 2017, 09:48:48 AM I think YES, because bitcoin does not take your profits but you take advantage of bitcoin, unlike banks and you hold your own money in your own wallet or be a bank for others
Title: Re: Is the bitcoin decentralized? Post by: Soros Shorts on July 27, 2017, 09:55:59 AM As of today the bitcoin is slowly getting centralized. Different priorities to different people. A lot of new people who go into the Bitcoin scene post-2013 seem to care less about a "freedom currency" and more about making money and achieving a higher transaction rate. While it may already be partially centralized that's no reason to not continually resist changes that would lead to additional centralization. Title: Re: Is the bitcoin decentralized? Post by: Gnosis7777 on July 27, 2017, 10:10:57 AM --edit--
Title: Re: Is the bitcoin decentralized? Post by: Pakboy on July 27, 2017, 10:14:09 AM To begin with, I want to apologize for my English. This is Google translator :) I hope that the meaning will be clear. Of course. Bitcoin is decentralized. This is the reason why many people got interested to the bitcoin. Being decentralized the government can't control it and of course there is no tax. Dear community. I wanted with your help to answer for yourself the following question: Is the bitcoin and the rest of the crypto currency decentralized so far? Decentralization is a state in which there is no single center. But we all know that most of the computing power, which in the majority is signed by the blocks, is concentrated in China (since almost all the computer technology associated with mining is produced there) and even in South Korea. And in fact the issue of accepting / not accepting SegWit is decided by the Chinese with the Koreans neighbors. All is well, but the zone of distribution of crypto-currency is not limited only to China and South Korea, what to do if there is some kind of prediction stone, and ordinary users of bitcoin will disagree with the miners on any issue, even scaling, what then? The answer is obvious, the owners will take the upper hand of pools ... again the question is whether Bitcoin is decentralized? thanks for answers Title: Re: Is the bitcoin decentralized? Post by: Gnosis7777 on July 27, 2017, 10:18:36 AM To begin with, I want to apologize for my English. This is Google translator :) I hope that the meaning will be clear. Of course. Bitcoin is decentralized. This is the reason why many people got interested to the bitcoin. Being decentralized the government can't control it and of course there is no tax. Dear community. I wanted with your help to answer for yourself the following question: Is the bitcoin and the rest of the crypto currency decentralized so far? Decentralization is a state in which there is no single center. But we all know that most of the computing power, which in the majority is signed by the blocks, is concentrated in China (since almost all the computer technology associated with mining is produced there) and even in South Korea. And in fact the issue of accepting / not accepting SegWit is decided by the Chinese with the Koreans neighbors. All is well, but the zone of distribution of crypto-currency is not limited only to China and South Korea, what to do if there is some kind of prediction stone, and ordinary users of bitcoin will disagree with the miners on any issue, even scaling, what then? The answer is obvious, the owners will take the upper hand of pools ... again the question is whether Bitcoin is decentralized? thanks for answers You read the news lately? All exchanges controlled by government, all sorts of rules for merchant to accept the bitcoin. This is going centralized, quick. It no longer has the 'decentralized' appeal....it is now acting like any other public currency.. Title: Re: Is the bitcoin decentralized? Post by: HasHe on July 27, 2017, 10:28:58 AM Bitcoin is a decentralized currency.But we could also say that it is bpartially centralized in some aspects.For example,segwit activation has not been accepted these much days by miners and bitcoin investors stood helpless as they were not able to do anything.But now,miners have accepted for segwit activation and even if investors don't like segwit,still they have to accept it.But bitcoin remains decentralized in other aspects due to which it still survives uncontrolled by governments.
Title: Re: Is the bitcoin decentralized? Post by: CryptosapienZA on July 27, 2017, 12:05:19 PM My first reaction to your question is to say, yes Bitcoin is decentralized. It certainly is more decentralized compared to banks and traditional organisations. However after the who segwit debate, I am not so convinced it is as decentralized as I would like to be. Development is centred in the USA and mining is centred in China. The Development side doesnt want to accept anything that doesnt come from them. Similarly to the mining side, i think up to 70% of hash power is centred on no more than 5 organisations. Bitcoin might not have a CEO or offices, but we all know Blockstream decide on what needs to happen to the code and miners run the network. Is Bitcoin decentralized? You decide.
Title: Re: Is the bitcoin decentralized? Post by: Sweetbtc on July 27, 2017, 01:45:08 PM That is a fun question. Six months ago or more, if you had a wallet on your computer and I had a wallet on my computer, and all we ever did was trade Bitcoin back and forth between those two wallets, then what we were doing was 100% decentralized. The fact was that our business between our two wallets was not controlled in any way buy any 'Central' unit. However, if some of the Bitcoin I sent to you you sent to an exchange, did the decentralized concept started to die. It wasn't a big way, simply the fact that website owners had to use databases, software, and other things that were not part of the Bitcoin core. This is the smallest level of decentralization. Now, if on those exchanges, Fiat gets involved, did you go to nearly Zero decentralization. This was the point, and one of the few possible points, where the government managed to get his fingers in the pie.Title: Re: Is the bitcoin decentralized? Post by: virasog on July 27, 2017, 01:45:54 PM These days, two software while its trading Bitcoin back and forth, it's still basically decentralized. However, new technology, such as transaction accelerators, specific transaction miners, and other things like that attack that decentralisation. Take the transaction accelerator for example, there are several websites that offer this service, showtimes for free and sometimes for a price. That is where decentralization begins
Title: Re: Is the bitcoin decentralized? Post by: 2girls on July 27, 2017, 01:47:34 PM The fact that somebody with the resources to give their transactions more power over others is the beginning of an elitist group. Imagine the exchanges prioritizing their orders based on any information at all.
Title: Re: Is the bitcoin decentralized? Post by: Francis Freeman on July 27, 2017, 02:12:43 PM Yes and no. It is decentralized in the sense that there's no dictator, no single unit that controls it and - in theory - anyone can mine and earn Bitcoin trough this. But it's also true that, as years went by, mining power concentrate only in few hands. So I think the whole Bitcoin ecosystem is decentralized, but mining is centralized stuff.
Title: Re: Is the bitcoin decentralized? Post by: williamuk on July 27, 2017, 02:27:23 PM Bitcoin is in the process of being centralised around a corporation called Digital Currency Group. It's holdings are listed below.
Notice the presence of Blockstream that controls Core devs but also Coinbase/GDAX (biggest exchange), Coindesk, Bitpay (payment processor) and 200 others companies. A ABRA On a Mission to Digitize Cash / SAN FRANCISCO, CA AVERON Instant Effortless Mobile Authentication / SAN FRANCISCO, CA AXONI Capital Markets Technology / NEW YORK, NY B BIGCHAINDB The Scalable Blockchain Database / BERLIN, GERMANY BITFLYER The Leading Bitcoin Exchange in Japan / TOKYO, JAPAN BITGO Multi-sig & Key Security Services / PALO ALTO, CA BITMARK Property Rights for Digital Assets / TAIWAN BITOASIS Leading Bitcoin Exchange in MENA / DUBAI, UAE BITPAGOS Financial Services in Emerging Markets / BUENOS AIRES, ARGENTINA BITPAY Bitcoin Payments Deposited to Your Bank / ATLANTA, GA BITPESA Next Generation Payments for Africa / NAIROBI, KENYA BITPREMIER The Bitcoin Luxury Marketplace / BETHESDA, MD BITSO Mexican Bitcoin Exchange, Ripple Gateway / MEXICO CITY, MEXICO BITWALA Blockchain Banking / BERLIN, GERMANY BLOCKSTACK The Blockchain Application Stack / NEW YORK, NY BLOCKSTREAM Advancing Blockchain Technology / SAN FRANCISCO, CA BLOQ Enterprise Grade Blockchain / CHICAGO, IL BOLD (ACQUIRED) Scale Faster. Pay Better. / SAN FRANCISCO, CA BOOST VC Seed Stage Accelerator for Future Tech / SAN MATEO, CA BRAVE Fast, Safe, Secure Browser / SAN FRANCISCO, CA BTCC Blockchain Technology & Cryptocurrencies / SHANGHAI, CHINA BTCJAM P2P Global Lending Platform / SAN FRANCISCO, CA C CAMBRIDGE BLOCKCHAIN Identity Compliance Simplified / CAMBRIDGE, MASSACHUSETTS CHAIN Enabling a New Medium for Assets / SAN FRANCISCO, CA CHAINALYSIS Blockchain Analysis & Compliance Layer / NEW YORK, NY CHANGETIP (ACQUIRED) Microtransactions Infrastructure / SAN FRANCISCO, CA CIRCLE Digital Bank & Wallet / BOSTON, MA CIVIC Everyone Deserves a Secure Identity / PALO ALTO, CA COBALT Reengineering Financial Markets / LONDON, UK COGNITO Identity Verification and Due Diligence / PALO ALTO, CA COINBASE The Easiest Way to Buy, Sell, and Trade / SAN FRANCISCO, CA COINDESK Blockchain News, Events, and Research / NEW YORK, NY COINS Financial Services for the Unbanked / MANILA, PHILIPPINES COINSETTER (ACQUIRED) Institutional Exchange and ECN / NEW YORK, NY COLU Creating Digital Cash / TEL AVIV, ISRAEL CRYPTO FACILITIES Enterprise Trading and Risk Management / LONDON, UK CUSTOS MEDIA TECHNOLOGIES Combat Digital Piracy with Bitcoin / STELLENBOSCH, SOUTH AFRICA D E ELLIPTIC The Standard for Blockchain Intelligence / LONDON, UK ENIGMA Platform for Building Crypto-Hedge Funds / SUNNYVALE, CA ETHERSCAN Ethereum Block Explorer / KUALA LUMPUR, MALAYSIA EVERLEDGER Blockchain Ledger for Valuable Items / LONDON, UK F FILAMENT Blockchain-based Industrial Internet / RENO, NV G GEM Blockchain Application Platform / VENICE, CA GENESIS GLOBAL TRADING Digital Currency Trading Firm / NEW YORK, NY GRAYSCALE Digital Currency-Focused Asset Manager / NEW YORK, NY GYFT (ACQUIRED) Mobile Gift Cards for Bitcoin Purchases / REDWOOD CITY, CA H HASHPLEX Mining Hosting Service / SEATTLE, WA HIJRO Powering Trade / LEXINGTON, KY I ITBIT / PAXOS Blockchain Solutions for Finance / NEW YORK, NY J JACKPOCKET Play the Lottery on Your Phone / BROOKLYN, NY JOYSTREAM A Decentralized Digital Content Platform / OSLO, NORWAY K KORBIT Cross-border Settlement Platform / SEOUL, SOUTH KOREA KRAKEN Digital Asset Exchange / SAN FRANCISCO, CA L LEDGER Bitcoin & Blockchain Security Solutions / PARIS, FRANCE LIVEPEER Token Powered Live Video Broadcasting / NEW YORK, NY LUNO Bitcoin for Everyone, Everywhere / SINGAPORE, SINGAPORE M MEDIACHAIN LABS (ACQUIRED) An Open, Universal Media Library / NEW YORK, NY MELOTIC Cross Border Banking Services / HONG KONG MIFIEL Sign and Endorse Blockchain Contracts / GUADALAJARA, MEXICO MONI Mobile First Banking and Global Payments / HELSINKI, FINLAND N NETKI Digital Currency Made Easy / LOS ANGELES, CA NIVAURA End-to-End Automation of Securities / LONDON, UK O OB1 OB1 Makes Online Trade Free for Everyone / FAIRFAX, VA P POSABIT Payment Solution for Cannabis Industry / SEATTLE, WA PROTOCOL LABS (IPFS) Bitcoin Currency and Data Storage / SAN FRANCISCO, CA PROVENANCE The Future of Brand Trust / LONDON, UK PURSE Universal Native Payments / SAN FRANCISCO, CA Q R REVELATOR Assets, Rights, and Data / TEL AVIV, ISRAEL RIPPLE Enabling the Internet of Value / SAN FRANCISCO, CA RSK LABS (ROOTSTOCK) Smart Contracts Powered by Bitcoin / ARGENTINA S SAFELLO Blockchain Services Aggregator / STOCKHOLM, SWEDEN SHAPESHIFT Digital Asset Exchange / ZUG, SWITZERLAND SHOCARD Identity for a Mobile World / PALO ALTO, CA SKUCHAIN Blockchain for Collaborative Commerce / MOUNTAIN VIEW, CA SONIA AI Virtual Assistance / SAN FRANCISCO, CA STREAMI Streamlining Cross-Border Remittance / SEOUL, SOUTH KOREA SURBTC Chilean Bitcoin Exchange / SANTIAGO, CHILE T TIERION Global Proof Engine / MOUNTAIN VIEW, CA TOKEN Helping Banks Succeed in the Digital Age / SAN FRANCISCO, CA TRADEBLOCK Institutional Tools and Analytics / NEW YORK, NY TRADEWAVE Algorithmic Trading Tools / SAN FRANCISCO, CA U UNOCOIN India's Leading Bitcoin Company / BANGALORE, INDIA V VEEM Simple Cross Border Payments / SAN FRANCISCO, CA W WYRE Enterprise Money Transfer Platform / SAN FRANCISCO, CA X XAPO World's Most Secure Bitcoin Wallet / PALO ALTO, CA Y YOURS Earn Money Creating and Curating Content / SAN FRANCISCO, CA Z ZCASH Privacy Technology for Blockchains / BOULDER, CO ZEPPELIN Framework for Secure Distributed Apps / PALO ALTO, CA Title: Re: Is the bitcoin decentralized? Post by: ActiveP on July 27, 2017, 02:36:03 PM Currently governments can regulate businesses associated with bitcoin like exchanges but they cannot regulate bitcoin because it has no controlling authority or center.
Title: Re: Is the bitcoin decentralized? Post by: CryptosapienZA on July 27, 2017, 02:37:03 PM As of today the bitcoin is slowly getting centralized. Different priorities to different people. A lot of new people who go into the Bitcoin scene post-2013 seem to care less about a "freedom currency" and more about making money and achieving a higher transaction rate. While it may already be partially centralized that's no reason to not continually resist changes that would lead to additional centralization. Your answer is right there. Title: Re: Is the bitcoin decentralized? Post by: CryptosapienZA on July 27, 2017, 02:39:06 PM Bitcoin is in the process of being centralised around a corporation called Digital Currency Group. It's holdings are listed below. Notice the presence of Blockstream that controls Core devs but also Coinbase (biggest exchange), Coindesk, Bitpay (payment processor) and 200 others companies. This is scary. I knew things were bad but I didnt realise they were this bad. Title: Re: Is the bitcoin decentralized? Post by: williamuk on July 27, 2017, 02:43:10 PM Bitcoin is in the process of being centralised around a corporation called Digital Currency Group. It's holdings are listed below. Notice the presence of Blockstream that controls Core devs but also Coinbase (biggest exchange), Coindesk, Bitpay (payment processor) and 200 others companies. This is scary. I knew things were bad but I didnt realise they were this bad. With all the manic finger pointing at the "evil chinese miners cartel" coming from core devs, it is difficult to see the real picture. Title: Re: Is the bitcoin decentralized? Post by: CryptosapienZA on July 27, 2017, 02:56:46 PM Bitcoin is in the process of being centralised around a corporation called Digital Currency Group. It's holdings are listed below. Notice the presence of Blockstream that controls Core devs but also Coinbase (biggest exchange), Coindesk, Bitpay (payment processor) and 200 others companies. This is scary. I knew things were bad but I didnt realise they were this bad. With all the manic finger pointing at the "evil chinese miners cartel" coming from core devs, it is difficult to see the big picture. I saw through all that rhetoric. I wish more people paid more attention, instead of listening to social media propaganda. I have been buying Bitcoin only from 2015 but I only started paying attention to the news from early this year. I listened to all sides of the debate, it became clear to me the Chinese miner story was all BS intended to mislead people from the real problem. I hope the community will wake up before its too late. Title: Re: Is the bitcoin decentralized? Post by: williamuk on July 27, 2017, 03:11:47 PM I saw through all that rhetoric. I wish more people paid more attention, instead of listening to social media propaganda. I have been buying Bitcoin only from 2015 but I only started paying attention to the news from early this year. I listened to all sides of the debate, it became clear to me the Chinese miner story was all BS intended to mislead people from the real problem. I hope the community will wake up before its too late. Me too and nearly identical path for me :P I believe bitcoin is a revolutionary technology that still has a chance to be an amazing success. But to think the direction of it's development is now under the control of a corporation with it's own vested interests and agenda is worrying to say the least. Blockstream/DCG/Axa need to be entirely removed from the Core dev picture so that they stop determining the direction of bitcoin development. The conflict of interest is just too great. Bitcoin development must go back to being impartial, for the benefit of bitcoin and its community as a whole. Title: Re: Is the bitcoin decentralized? Post by: Gnosis7777 on July 27, 2017, 11:28:30 PM The writing is on the wall.
Title: Re: Is the bitcoin decentralized? Post by: The_Dark_Knight on July 28, 2017, 01:07:56 AM To begin with, I want to apologize for my English. This is Google translator :) I hope that the meaning will be clear. Dear community. I wanted with your help to answer for yourself the following question: Is the bitcoin and the rest of the crypto currency decentralized so far? Decentralization is a state in which there is no single center. But we all know that most of the computing power, which in the majority is signed by the blocks, is concentrated in China (since almost all the computer technology associated with mining is produced there) and even in South Korea. And in fact the issue of accepting / not accepting SegWit is decided by the Chinese with the Koreans neighbors. All is well, but the zone of distribution of crypto-currency is not limited only to China and South Korea, what to do if there is some kind of prediction stone, and ordinary users of bitcoin will disagree with the miners on any issue, even scaling, what then? The answer is obvious, the owners will take the upper hand of pools ... again the question is whether Bitcoin is decentralized? thanks for answers Bitcoin is really decentralized. Unlike traditional banks you do not have control over the money, the banks uses your money in their lending but does not give away to you their income from your money. In this centralized scene only the banks are benefiting from your money. Bitcoin and cryptocurrency on the other hand is not the same with the banks, here you become your own bank since you have control over your wallet. In cryptocurrency whatever gains you have from the increased profit you alone will benefit from it, it is yours to control and use. Compared to banks cryptocurrency is much better since you can even trade or invest it online. Title: Re: Is the bitcoin decentralized? Post by: finaleshot2016 on July 28, 2017, 02:10:28 AM To begin with, I want to apologize for my English. This is Google translator :) I hope that the meaning will be clear. Dear community. I wanted with your help to answer for yourself the following question: Is the bitcoin and the rest of the crypto currency decentralized so far? Decentralization is a state in which there is no single center. But we all know that most of the computing power, which in the majority is signed by the blocks, is concentrated in China (since almost all the computer technology associated with mining is produced there) and even in South Korea. And in fact the issue of accepting / not accepting SegWit is decided by the Chinese with the Koreans neighbors. All is well, but the zone of distribution of crypto-currency is not limited only to China and South Korea, what to do if there is some kind of prediction stone, and ordinary users of bitcoin will disagree with the miners on any issue, even scaling, what then? The answer is obvious, the owners will take the upper hand of pools ... again the question is whether Bitcoin is decentralized? thanks for answers Definitely yes!, Bitcoin is known as the first decentralized cryptocurrency in the world. It has no central management, control, and system. Bitcoin was ran by peoples that uses electronic equipments like super computers. Decentralized money can grew larger that national currency, we all know that the vale of bitcoin was growing bigger. Bitcoin also have rules, process, and operations but this rules can't be change with the approval of the million users, like i said a while ago bitcoin was controlled by users. Title: Re: Is the bitcoin decentralized? Post by: beerlover on July 28, 2017, 11:06:46 AM As of today the bitcoin is slowly getting centralized. Different priorities to different people. A lot of new people who go into the Bitcoin scene post-2013 seem to care less about a "freedom currency" and more about making money and achieving a higher transaction rate. While it may already be partially centralized that's no reason to not continually resist changes that would lead to additional centralization. Title: Re: Is the bitcoin decentralized? Post by: The_Dark_Knight on July 30, 2017, 10:07:35 PM Bitcoin is becoming a joke. It used to be good, but this is what happens in democracies; 51% of the people fuck over the 49%. About your A point, there are decentralized exchanges you can use them if you do not like to use centralized ones and most of the time you do not need to identify yourself there either, so alternatives are being created in order to decentralize bitcoin in some levels.Essentially, now that the 'get rich quick' crowd has showed up and ruined it, it will begin to devalue. Here's why: A. Exchanges are totally centralized, anyone doing business, either buying/selling bitcoin is under 'heavy' regulations, FINCEN, etc... B. You are now required to have more ID to buy bitcoin than to open a normal bank account....and want to know the worst part? C. The community cheers this behavior on. They claim it will lead to 'bitcoins legitimization', thus the get rich quickers think they will become super-billionaries. Here's why bitcoin will ultimately fail as currency: #1. Bitcoin is/will become so overregulated that the average user will see absolutely zero real-world use-base for it, especially when it is 10x easier to open a 'normal' bank account rather than deal with absurd practices like poloniex (want photo of you with Id, and blood samples, sperm lol), they want to know where money came from..laundering, terrorism acts, kyc, etc.. Sounds like heavy government involvement to me...The theory of bitcoin going to $500,000 is, as of now, irrelevant. The bitcoin has has zero real-world application that originally gave it appeal. (Anonymity, Decentralization, no governments, privacy, all gone). Now, instead of fight it, the idiot users cheer on government regulation! Government will make them soosoo rich...government helps 'legitimize' bitcoin )(lmao)....They need the government to wipe their asshole too, apparently. #2. If by magic the price does increase anymore, it will cost more than the price of the small transaction to pay the network fee. Why would anyone want to use this payment method? They won't. Its a waste of money. #3. Back to Centralization...as I said, 51% of the people fuck over the other 49%, ergo, centralization/democracy. (Likely a few people control most of the coins & hash power anyway, so apparently it was always like this (oligarchy.) The bitcoin will be eaten from within over the coming months, and we will see a sharp decline in value as the community slings shit like monkeys at each other. I'm off to find another coin... Title: Re: Is the bitcoin decentralized? Post by: lovesybitz on August 02, 2017, 03:17:18 PM To begin with, I want to apologize for my English. This is Google translator :) I hope that the meaning will be clear. For you able to know mate, bitcoin decentralization was really it is, in fact, decentralization is one of the number one good features of bitcoin. Through this things many coins cloned bitcoin that's why altcoin rising up in digital currency. But there few altcoin became Dear community. I wanted with your help to answer for yourself the following question: Is the bitcoin and the rest of the crypto currency decentralized so far? Decentralization is a state in which there is no single center. But we all know that most of the computing power, which in the majority is signed by the blocks, is concentrated in China (since almost all the computer technology associated with mining is produced there) and even in South Korea. And in fact the issue of accepting / not accepting SegWit is decided by the Chinese with the Koreans neighbors. All is well, but the zone of distribution of crypto-currency is not limited only to China and South Korea, what to do if there is some kind of prediction stone, and ordinary users of bitcoin will disagree with the miners on any issue, even scaling, what then? The answer is obvious, the owners will take the upper hand of pools ... again the question is whether Bitcoin is decentralized? thanks for answers centralized or regulated currency. And bitcoin was stand in unregulated or decentralize where none of the highest or any officials in the government has no capability to control it unlike physical currency or bank. Title: Re: Is the bitcoin decentralized? Post by: HasHe on August 03, 2017, 03:53:28 PM Bitcoin is created by satoshi as a decentralized currency.Since majority of mining farms are found in china,they had an upper hand in bitcoin trading and so they manipulated bitcoin price many times by dumping their bitcoins.But after actons of PBOC,their dominant role has almost ended in bitcoin environment.
Title: Re: Is the bitcoin decentralized? Post by: AK47- on August 03, 2017, 04:09:59 PM To begin with, I want to apologize for my English. This is Google translator :) I hope that the meaning will be clear. You are overgeneralizing about Chinese miners. They are indeed from one country but are different. However, the threat is from Chinese government who if try to halt mining in China, there could be a problem. But that is least to happen. What all I know is should the Chinese miners suddenly stop mining, other competitors would rise within 24 hours. Dear community. I wanted with your help to answer for yourself the following question: Is the bitcoin and the rest of the crypto currency decentralized so far? Decentralization is a state in which there is no single center. But we all know that most of the computing power, which in the majority is signed by the blocks, is concentrated in China (since almost all the computer technology associated with mining is produced there) and even in South Korea. And in fact the issue of accepting / not accepting SegWit is decided by the Chinese with the Koreans neighbors. All is well, but the zone of distribution of crypto-currency is not limited only to China and South Korea, what to do if there is some kind of prediction stone, and ordinary users of bitcoin will disagree with the miners on any issue, even scaling, what then? The answer is obvious, the owners will take the upper hand of pools ... again the question is whether Bitcoin is decentralized? thanks for answers Title: Re: Is the bitcoin decentralized? Post by: richkellj on August 05, 2017, 06:42:40 AM Bitcoin is created by satoshi as a decentralized currency.Since majority of mining farms are found in china,they had an upper hand in bitcoin trading and so they manipulated bitcoin price many times by dumping their bitcoins.But after actons of PBOC,their dominant role has almost ended in bitcoin environment. Yes everyone know that it is created by satoshi but who is satoshi because everyone want him know everyone want him explore that how he had bring that idea to world because he is one of the intelligent person on the earth so I'm confused that his real name is satoshi or we can say that it is bill gates because he is also the richest person on the earth.Title: Re: Is the bitcoin decentralized? Post by: TheBTCAlex on August 05, 2017, 07:23:44 AM Well, yeah, decentralization is one of the biggest advantages of BTC. Its not controlled by any central authority and its value thus does not depend on the economy of a certain state alone. I think its peer-to-peer structure along with decentralization are really essential features of BTC to be a currency of the future.
Title: Re: Is the bitcoin decentralized? Post by: teilwalL05 on August 05, 2017, 07:58:08 AM Bitcoin is created by satoshi as a decentralized currency.Since majority of mining farms are found in china,they had an upper hand in bitcoin trading and so they manipulated bitcoin price many times by dumping their bitcoins.But after actons of PBOC,their dominant role has almost ended in bitcoin environment. Yes everyone know that it is created by satoshi but who is satoshi because everyone want him know everyone want him explore that how he had bring that idea to world because he is one of the intelligent person on the earth so I'm confused that his real name is satoshi or we can say that it is bill gates because he is also the richest person on the earth.There are many speculation who satoshi really is, but no one really knows who he was, he was really active back then on the development of bitcoin up to December 2010, he was claimed to be living in japan because of his name but they really thing that his name was only a code or non really existing because speculation about the true identity of Nakamoto has mostly focused on a number of cryptography and computer science experts of non-Japanese descent, living in the United States and Europe so many has said that he is not really japanese or if he is that he is just living in the said country, well there are no further information if bill gates can be a candidate to be Satoshi, but they have name a few person that can really be Satoshi Nakamoto, and there are persons that are claiming that they are Satoshi, but they are lacking proof that is why Satoshi is still a mystery up till now. Title: Re: Is the bitcoin decentralized? Post by: Nasty23 on August 05, 2017, 08:02:45 AM Well, yeah, decentralization is one of the biggest advantages of BTC. Its not controlled by any central authority and its value thus does not depend on the economy of a certain state alone. I think its peer-to-peer structure along with decentralization are really essential features of BTC to be a currency of the future. Yes bitcoin is decentralized because it is not depend only on one community or organization it is work as global and no one can stop the price of bitcoin because there is no authority that holds it everyone have an opportunity to holds itTitle: Re: Is the bitcoin decentralized? Post by: NathanJB on August 05, 2017, 08:11:23 AM Bitcoin is decentralized. This is perhaps one of the best features of Bitcoin. Perhaps the leading reason why Bitcoin really kicks hard shortly after being introduced to the public. Your bitcoin is yours alone. When you transact with your bitcoin, it is on a peer-to-peer basis, without passing through some middle establishments.
Title: Re: Is the bitcoin decentralized? Post by: RichardReMark on August 05, 2017, 08:54:47 AM Hey i was wondering about bitcoin, lets say they are cutting the miners now with Segwit and Lightning and whatever. Will we get a rice in bitcoin price once we get to the point wen the core developers get cut by the code, lets say the code will code itself with superhigh artificial intelligence? Will we / the core defs accept it? And once code wins how decentraliced will bitcoin really be?
Title: Re: Is the bitcoin decentralized? Post by: Coffee135 on August 05, 2017, 09:02:32 AM Bitcoin is decentralized. This is perhaps one of the best features of Bitcoin. Perhaps the leading reason why Bitcoin really kicks hard shortly after being introduced to the public. Your bitcoin is yours alone. When you transact with your bitcoin, it is on a peer-to-peer basis, without passing through some middle establishments. If bitcoin is a decentralized currency, then why the whole community has become a hostage situation on 1 August? You someone asked your opinion? It was strongly decided and all set before the fact. This suggests that bitcoin is too centralized.Title: Re: Is the bitcoin decentralized? Post by: RichardReMark on August 05, 2017, 03:40:56 PM Bitcoin is decentralized. This is perhaps one of the best features of Bitcoin. Perhaps the leading reason why Bitcoin really kicks hard shortly after being introduced to the public. Your bitcoin is yours alone. When you transact with your bitcoin, it is on a peer-to-peer basis, without passing through some middle establishments. If bitcoin is a decentralized currency, then why the whole community has become a hostage situation on 1 August? You someone asked your opinion? It was strongly decided and all set before the fact. This suggests that bitcoin is too centralized.Title: Re: Is the bitcoin decentralized? Post by: futile-resistance on August 06, 2017, 10:15:47 AM To begin with, I want to apologize for my English. This is Google translator :) I hope that the meaning will be clear. Dear community. I wanted with your help to answer for yourself the following question: Is the bitcoin and the rest of the crypto currency decentralized so far? Decentralization is a state in which there is no single center. But we all know that most of the computing power, which in the majority is signed by the blocks, is concentrated in China (since almost all the computer technology associated with mining is produced there) and even in South Korea. And in fact the issue of accepting / not accepting SegWit is decided by the Chinese with the Koreans neighbors. All is well, but the zone of distribution of crypto-currency is not limited only to China and South Korea, what to do if there is some kind of prediction stone, and ordinary users of bitcoin will disagree with the miners on any issue, even scaling, what then? The answer is obvious, the owners will take the upper hand of pools ... again the question is whether Bitcoin is decentralized? thanks for answers Definitely yes!, Bitcoin is known as the first decentralized cryptocurrency in the world. It has no central management, control, and system. Bitcoin was ran by peoples that uses electronic equipments like super computers. Decentralized money can grew larger that national currency, we all know that the vale of bitcoin was growing bigger. Bitcoin also have rules, process, and operations but this rules can't be change with the approval of the million users, like i said a while ago bitcoin was controlled by users. Title: Re: Is the bitcoin decentralized? Post by: shodiqtercinta on August 26, 2017, 10:46:39 AM In the world of Bitcoin, there is no central entity / institution that prints money, but the money is printed by the users. This is what causes Bitcoin to emerge as a decentralized system.
|