|
Title: Centralize controlling of bitcoin. Post by: umer.usman on December 06, 2017, 06:31:55 AM why there is not any centralized controlling of bitcoin by any govt in the world . whats the main reason behind this !!
Title: Re: Centralize controlling of bitcoin. Post by: Catmony on December 06, 2017, 06:37:11 AM Bitcoin is different than other virtual currency because it is not centralized and not controlled by any government or corporation. Bitcoin can be mined by any individual and its ledger can be stored by any people which makes it more decentralized.
Title: Re: Centralize controlling of bitcoin. Post by: Herbert2020 on December 06, 2017, 06:48:54 AM its like asking what is the sky blue!
there is no centralized authority in bitcoin because it is designed that way and it is supposed to be that way. meaning a decentralized or "a peer to peer digital cash" as the bitcoin original paper calls it. and people are interested in bitcoin, investing in it, and the price is rising because of this! in other words being decentralized is one of the main aspects of bitcoin which gives it the power it has, otherwise we already have centralized currencies which we call fiat. if you want them then continue using the old systems that you know and use fiat. Title: Re: Centralize controlling of bitcoin. Post by: umer.usman on December 06, 2017, 06:53:13 AM its like asking what is the sky blue! thanks there is no centralized authority in bitcoin because it is designed that way and it is supposed to be that way. meaning a decentralized or "a peer to peer digital cash" as the bitcoin original paper calls it. and people are interested in bitcoin, investing in it, and the price is rising because of this! in other words being decentralized is one of the main aspects of bitcoin which gives it the power it has, otherwise we already have centralized currencies which we call fiat. if you want them then continue using the old systems that you know and use fiat. Title: Re: Centralize controlling of bitcoin. Post by: tutorroma on December 06, 2017, 07:09:05 AM If bitcoin can be centrally controlled, then bitcoin must not be developed to the present.
Centralization and removal of centralization are a major feature of bitcoin, and it is the feature that makes it more attractive for investment. Of course, on this issue, I think the early miners still have a little bit of advantage. |