Bitcoin Forum

and centrally by few humans controlled cryptocurrency index, that discriminates between cryptocurrencies?

isnt that contradicting itself. is bitcoin just a fake decentralisation to earn lambos like the bitcoin hodlers are saying?

in my oppinion yes.

Bitcoin was created as P2P decentralize electronic cash system that'll allow individual to transfer money to each other without the need of third parties like banks etc bitcoin has not diverted from the purpose it was initially created for but the need of big firm like centrilized exchange and wallet providers came as trust became the major concern, they only serve as an escrow to prevent fraud and that's all. Bitcoin itself is still very decentrilzed that's why we have forks happening very often because on a centralised system forks don't occurs because the affair of the system is been runned by few individual but in bitcoin the community decide.

I think bitcoin is indeed decentralized, and in my opinion bitcoin has become a very useful financial part of transactions in the online world.

Decentralization means that it is not centrally managed by a particular country or a single central bank. But anyone can get it.

The distribution of Bitcoin is supposed to be decentralized and not controlled by certain parties/platforms/people, but if anything happens otherwise, the mistake is due to individuals, not BTC as currency.

Do not forget that many currencies are still unknown. "For example, about 1 million coins by Satoshi" if distributed better would be decentralized.

nope its the cryptoindustry is not decentralised, its centered around that cryptoindex of yours, you use to discriminate between cryptocurrencies declare altcoins "shitcoins"

and bitcoin the "king of crypto"

the crypto index that concerns YOU so much is only a concern to YOU because YOU are the only one obsessively observing it.

here is the cure.
if YOU stop visiting the site. it stops becoming a concern to YOU. because apart from YOU. i dont see the whole community even giving a crap about some dumb website no one even heard of unless you highlight it.

the crypto index is not a big community barometer / measure. the community dont care about it.
so calm down

Here we are again with your "centralized crypto index".

NO ONE IS FORCING YOU TO USE COINMARKETCAP OR ANY OTHER SIMILAR ALTERNATIVE.

You yourself can freely judge a project by it's use-cases and fundamentals without looking at the price; and you can freely use all these coins/tokens regardless of what it's price is. Your complaint/argument doesn't make any sense at all. Shitcoins are called shitcoins because, well, a lot of the coins/tokens are really just either a scam or useless! People aren't calling other coins/tokens "shitcoins" just because they're holding bitcoin.

nope i am not going to start ignoring their corruption, as long as they are an issue to me.

the cryptoindex is the main issue that defines useability of cryptocurrencies.

and its a biased and corrupt cryptocurrency index.

regards

Since now it seems clear that you are talking about some specific website that counts the rate of centralization of the market or something, could you at least share the link? I could not find anything useful when I googled 'crypto centralization index', and when I googled 'crypto index', I found the following coinmarketcap-like website: https://cryptoindex.co/. Is that the one you were talking about? 'Cause I don't see anything about centralization here. I just want to understand the issue better, so that a productive discussion has a change to start.

No I don't think OP is referring to a certain website. He/she mentioned coinmarketcap in the past when talking about the same topic:


and yea, I really don't 100% understand his/her problem. His/her grammar doesn't help either.

@OP: Maybe I'm just out of the loop, but what is this crypto index you are referring to? I'm using crypto just fine without even being aware of it, so it seems pretty non-essential. Crypto is free, so people could create the S&P500 equivalent of crypto for all I care.

Thanks for clarifying what he was talking about cause I read that ten times and couldn't make heads or tails of it
And I'm not the only one, lols at @HeRetiK  ;D
But since you guys seem to somehow through some miracle understand what he is talking about, can somebody translate this as well?


Just to make sure, this is another useless crusade against coinmarketcap?
Why do people care or even give a damn about it is beyond my understanding!!!

Yes.. yes it is. 🤦‍♂️🤦‍♂️🤦‍♂️ OP is claiming that bitcoin is centralized because of market capitalization sites like coinmarketcap; and that the "bitcoin founders" are the one controlling it. Why and how did he/she come to  that conclusion? I don't freakin know, that's beyond my understanding. Probably only aliens with a million IQ can understand that strange reasoning.

I mean, take a look at this extremely bizarre statement from him:

we dont have to discuss this trash in the high details, we all know the unpleasant truth

my problem with you is why are you still lying and deluding about the term "decentralisation"

thats my question.

just be at least honest one time and admit, that you run a centralised authority of your bitcoincenctristic cryptoindex that is looking for billionaires, to list their billionaire token.

like it was the case for ripple.

stop this uncorrect usage of that term, and play with open cards.

maybe you will have luck this way and billionaires will come and list their token for million usd fees, or try to fund cheering crowds, with their wealth substance, or hiere technicians to run bots. "to convince you"

stop lying and deluding.

at least honest you i am with (you will not escape reality, no matter how hard you try to delude)

regards

Why did you do that?  :'(
What have I (and my few still working brain cells) done wrong?  :)

So CMC is a tool to enslave the world created by ...satoshi? lols.


Amen, brother!!!



Why are you addressing people here like they are the ones running all those coins and running CMC also?
Did I somehow miss the topic in reputation where mjglqw was reported of being satoshi's alt?

Either way, apart from the tinfoil conspiracies, I don't understand what's your problem with CMC.
I myself think is a garbage website, I advised people not to consider not only the numbers there but also not to think of any coins in terms of market cap but I still don't understand how this index could be a brainwashing slave turning control machine.

You are absolutely right. I am myself in the crypto community for so many years and I have never visited any crypto index.
Although I have heard of the crypto index I have never bothered to care about it. Bitcoin serving it's purpose of decentralization is intact and will remain the same.
We should not even care about the third party services when there is no need for it.

Maybe actually try to refute our counter-arguments rather than saying the same things over and over? Regardless if we have market capitalization sites or not, this has nothing to do with bitcoin's decentralization. Market capitalization sites like Coinmarketcap(your favorite apparently) are only there to help give us a sort of price estimate on what all the coins/tokens we have right now are worth. None of it is a measure of how decentralized or centralized a coin/token is.

Yo. Come on. I thought that secret was only between the two of us? smh.

To the best of my knowledge the meaning of decentralization is far from what you are saying. Decentralization in this contest means bitcoin is  not control by any individual or Government of a particular country, the protocol is accessible by anyone in any part of the world.

This post seems to be a sequel from previous ones which I did not follow. But I do not see a discrimination towards other currencies. Everyone can acquire whichever cryptocurrency they desire, if majority goes for bitcoin, that's their choice and not discrimination.
I don't know anything of 'few humans controlling the cryptocurrency index', the opinion should provide more factual evidence to buttress his/her points.

To my mind in reality bitcoin was never meant to be used widely by a lot of people. Nothing can be fully decentralyzed, also bitcoin was better at first, when it had few user, there were no regulations, no KYC documents on btc exchange services and so on.
So to sum up, reason is increased amount of demand from people, there are a lot who wants to gain power, only few succeed.

How come crypto index is coming into the picture while we talk about decentralization? The index has nothing to do with the network itself. It just provides an overview of the pricing aspect of cryptos to benchmark it against the real world currencies to determine its purchasing power. Having an index doesn't compromise the decentralized nature of the network in any way!

i will give you something you see this token:

https://i.imgur.com/NtyHrkL.jpg

its a new type of token, targeting your "popularity criterias"

its being spread among countless wallets, much more than bitcoin wallets and bitcoin holders.

it has a stable value because all those that got it airdropped can't sell it.

it can have a huge marketcapitalisation, potentially even bigger than bitcoin, depends on the manipulation the issuers have executed with it.

it will mobilise many more people that have a popular support in it.

that will diminish the amount of bitcoin shillers.

there will be multiple loads of such token, they were in the past surpressed as something called "ponzi scheme", but it wont be as easy this time for you since you dont controll/manage a humanist state

and you simply run a 1. private. and second 2. profit oriented cryptoindex. that you try to sell the world as golden truth, but in truth its just an advertisement, or a popup.

there is just no consciousness about it.

If Bitcoin is accepted and used as it is, it protects its own nature. Today you can do that too. It may be the reason that we all see BTC as the source of income and we rely more on the centralized exchanges. Think about it, it is not possible to change the Bitcoin to current money. It would not have caused so much attention, but it could protect itself today.  :-\

Bitcoin itself is decentralized. All other cases of its centralization are the work of other people. Bitcoin keeps its idea, and I hope it will continue.

Regardless if it's an airdropped coin/token or not, it's not going to be stable, unless it's a stablecoin.

Keyword: can

Not because it can, it doesn't mean that it will. There are thousands and thousands of coins and tokens right now, and there will be more. What are the chances that this specific unknown coin/token will be bigger than bitcoin?

Not every single new coins/tokens are marked as "ponzi scheme". You ever heard of the new coins: Beam and Grin? Whereas even some bitcoin enthusiasts are excited about it because of the technology?

Not everything is being based on the "profit oriented cryptoindex" you're referring to so please stop the bullshitting. Most coins and tokens aren't getting any publicity, simply because they really don't deserve the publicity. That's simply just it. The same reason why not 100% of businesses are being famous and profitable, because not 100% of the businesses are good. Like come on, it doesn't take a smart person to realize this.

Oh, another "decentralization" thread. Decentralization also means that there is no central party who controls supply and demand. Plus there is no central party who acts as a clearinghouse.

Coinmarketcap thing is not a problem. Don't like it, don't use it.

Guys you can stop responding to this thread, it's difficult to argue if you don't have the same definition of decentralization. This will become pointless, unproductive debate. Or maybe this was never meant as a debate?

Nah.

Bitcoin is totally decentralized as initially planned but the service exchange platforms have to secure themselves and their clients asset using escrow, without which this place will not be conducive for you and me to operate, so it is for your own safety and benefit.

i give you a good advise, liberalise that index, let everyone list the stuff he wants, make it open.

it will cleanse and sanctify it.

a natural stability will establish itself in it. only people with a lot of guts that know what they are doing will then list big token.

much better then the current corruption/profitmaximizing agenda of the bitcoinmaximalists.

everyone with some brain, sees and understands it. the aura of their disapprovement is whats causing your "bearmarket"

you cant really improve your situation by banning users, and create a form of fake bitcoinchilling environment.

when you bend the definition of words then you can satisfy any meaning you like and here you are bending the meaning of decentralization to satisfy your own needs and unknowingly you are centralizing everything to some listing that you have inside your head.
when you say "let everyone list the stuff he wants" you are centralizing it to that list and then complaining why they don't let you list your stuff!

well i am helping you to develop this market. dont you want to develop the market?

if you dont liberalise that index, you will continue to suffer under a bear market and distrust.

and it will get even worse you will become the "buh men"

because people subconciously will taste your agenda.

you are not helping anyone or anything. you have just created a vague topic discussing an ever vaguer concept. what "index"?
and it is not going to change anything in the market. if something is innovative and useful enough, then it doesn't have to worry about the market and the bear mode and anything like that. that thing will grow on its own as long as it offers utilities but when things are useless (such as most altcoins) they need to be "indexed" somewhere the dictates which coin is number 2 and which one is "top" coin based on their broken ranking system.

ofc i am helping you,

i am telling you that that "index" you are running is in truth not a real index, its a marketing ad, or a popup banner. nothing else.

thats why its not working anymore. and no one trusts the market.

A project can be decentralized in term of the development but when it become adopted by third party, they introduced it into centralized system in order to have control over the system. this is exactly what is happening to bitcoin. The developer (i.e Satoshi) is not even known but people make use of his discovery and turned it to what they can control. This is exactly what we are witnessing in many exchange platform today but research have also shown that people prefer centralized exchange platform than decentralized one.

My socks are worth 100 trillion because

a) Nobody else but myself can sell them
b) I won't sell any below 1 trillion
c) Yeah, I do have around 50 pairs and no I'm not insane.... I think  ::)

get used to the bearmarket, it wont end anytime soon,

https://twitter.com/naashonomics/status/1095038153826566145?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1095038153826566145&ref_url=https%3A%2F%2Fwww.ccn.com%2Fbitcoin-analysts-explain-why-crypto-bear-market

who the hell cares about your ad banner called "cryptocurrency index" with whom you are looking for billionaires to bribe on.

in my oppinion a fatal mixture.

well get used to these numbers then, because there are many token that have a many billion usd marketcapitalisation.

your "bitcoin" becomes a brand or whats even worse. potential future mickey mouse money.

I really don't understand what you argue against or for here.
Are you saying that token is better than bitcoin or is another shitcoin made by the satanic indexoreptilians?

And I haven't managed to get single info on that token of yours...do you have a link to some ann or anything else?

You really seem to be mad at anything in this world and seriously, you're not helping anybody around here with that combined attitude of all-knowing god and goddess of ignorance.

Thats right, the centralization that you see is outside of bitcoin, like exchanges, online wallets or other third parties, it is not included in
the internal of bitcoin. Bitcoin remains a keep on this decentralized system

The "index" is already liberalized, anyone can create a listing of cryptocurrencies such as Coinmarketcap.com.

If you have the skills, code it. If you have the money, hire someone. If you have neither, gain some community traction.

If you feel like Coinmarketcap.com is biased or not fitting your needs, create a service of your own. If you feel like more than 2000 coins and tokens -- some of which have a 24h volume in the single digits -- are not enough, there's nothing stopping you from creating a wiki-style coin market cap website.

It seems that you have to understand the meaning of decentralization both bitcoin and alternative coin, if you say decentralization of bitcoin is fake then you are thinking about the market and price. You should look at the bitcoin chain network based on the activity of nodes, even if bitcoin is really centralized then surely many hackers disrupt the price of bitcoin. The disadvantage of only one bitcoin, who is strong or has a lot of money, it is he who can manipulate the market. I think you must learn to understand technology so that your fear of new technology can be eroded.

Bitcoin alone still on its target and created for.
The problem is the middle of the transaction which is the exchange.
They are the one and not the bitcoin!

What? Can you name those "many" tokens? As of now only BNB is the one and only token we have right now(that will soon have it's native blockchain) that has reached $1Billion in marketcap(in today's prices at least).

And don't throw out the Coinmarketcap centralized crap. You can check other sites as well.

The few whales who have the majority of BTC right now are the people who took risk and bought BTC at a time when nobody was willing to invest in BTC. They took a risk and are now enjoying the fruit of that risk, its very simple.

just like the ex whales that bought bitcoin at a high like novogratz and lost a lot.

i dont mind, i am afraid

the longer you constantly talk and claim about the bear market the sooner you will be exposed and considered a bunch of losers and no one will want to have something to do with you.

Bitcoin is a decentralized virtual currency.
It doesn't have any authority or body controlling it .
Yes I understand the picture you are trying to paint here, although I agree that the whales who bought bitcoin in large quantities then can easily dictate the movement of bitcoin price but I beg to disagree that  it's same as having asserting full control over Cryptocurrency.

In my opinion, bitcoin is decentralized and it becomes centralized when you cashing out your money. I say this because we know that bitcoin didn't have a physical appearance and I think the partnership or the conversion of bitcoin to other form of fiat money has nothing to do with the centralization of bitcoin because bitcoin itself has a nature of being decentralized.

Originally, bitcoin was created to be decentralized. It means that you can do a p2p transaction without other people knowing it. So the bitcoin itself promotes decentralization. It is just that sometimes, there are people manipulating the index, but the bitcoin itself doesn't, the people behind it does. You can compare it to a gaming site. Originally, a  fair gaming site (https://vegascasino.io/casino/video-slots/durian-dynamite?utm_source=ccdd) have an algorithms that the odds are 50 percent, but there are sites that doesn't promote that, that is why you need to be vigilant in choosing the right gaming site to play with.

Bitcoin is still decentralized and that is way how it's functioning. Still there are always some people who would like to have control, I guess that is the human nature. Some says in crypto world whales are those who want to have control or that already have established it. But I don't think they have such control that they could disturb Bitcoin decentralized system.