Bitcoin Forum

From my theory of understanding bitcoin as a cryptocurrency I have view bitcoin in different ways and i understand that Bitcoin what kept Bitcoin valuable is because it's a decentralized currency, for instant assuming bitcoin was centralized the domain of the technology would have be affected or tempered. But I'm seeing that the Force of Bitcoin today to stand is because is a decentralized currency.

Learning is a continuous process

If someone wants to create a centralized coin, the government of the country the person is will take down the project and that would be the end of it. I agree that because bitcoin is decentralized, it grows as people adopt it.

But that has not been the only reason bitcoin is adopted and grow, another reason is because it can be used as an investment and a store of value. People invest in it and some people store it long term.

Many people tried creating digital currencies in the past, kinda like centralized ones, but they all failed. But then came Bitcoin, with its blockchain as a public ledger and Proof-of-work verification process. The reason it is so popular today is that it is decentralized and nobody owns it or controls it. That is precisely why it survived and thrived while the others bit the dust.

So, the thing is: if Bitcoin ever loses its decentralized nature, it would basically be game over for it.

Your theory of understanding is correct, and that's a reality that people are mostly into Bitcoin because of its decentralized nature and even Satoshi went to stealth mode only to make Bitcoin 100% decentralized and free from any kind of interference from anybody. Even in 2023 no one is able to have any control over Bitcoin because it's free and open-source, and the miners are the ones who are giving their electricity to the process of mining and completion of blocks in the blockchain.

The growth of Bitcoin as a digital currency is mainly because of its decentralized model and that's why it's gaining growth in value and the amount of investors. No body is able to stop the growth of Bitcoin because it can be used by anyone without any interference if it's used in its decentralized way, however if someone is using it via a centralized exchanges then things are different for that approach. I think you should read more about Bitcoin because you seems to be a person who wants to learn about this technology in depth.

But if bitcoin loses its decentralized nature, it will cease to be an investment and store of value. Bitcoin would not be an investment if it were centralized because if someone could control it, they could increase the supply and render it useless just like fiat.

Bitcoin has always been a thorn in the government's side, and if it becomes centralized, the government will control everything and even destroy it. So it can be said that the decentralized nature has made bitcoin successful today, if bitcoin becomes centralized, it will be useless, and the game will be over. The decentralized nature is at the core of what makes bitcoin different and unique.

Even bitcoin wanted out of decentralized I think they dont have a choice since its been in the hands of the community already. Satoshi make sure of that and that proves that bitcoin is the 100% only decentralized platform but there are some whose semi decentralized on alts which doesnt have control over the platform too. But in comparison only bitcoin would grow decentrally since thats what it made of for.

The decentralization element is vital to Bitcoin, and if that was to be lost, that new coin wouldn't be bitcoin. Something centralized can't be called Bitcoin. It's the same as if the system became reversible and you could cancel or alter any final transaction to your liking. That's not Bitcoin. Even getting rid of PoW is a direct attack on the infrastructure that secures the blockchain and has kept it reliable in all these years.

Hmm Yes, It is true..

For the rest of your post, I think Bitcoins' Decentralization is a cosmic mystery  ;D and you are the one who discovered all aspects and now finally Bitcoin is Decentralized hmm, Thank God that this digital asset is now decentralized otherwise I won't be writing this post.

You are on point OP, the decentralized nature of bitcoin has made it unique from all other coins. This has given bitcoin the value that it has now and there is nothing anyone can do to change this. It has also made government to hate bitcoin because it didn't give them access to have control over bitcoin. So many shitcoins are crashing these days because it is centralized and can be manipulated by the dev. Decentralization is the key to financial freedom which bitcoin has given to its users.

Bitcoin's value is related to it being decentralized, but I'd add that it's also a quality that many users don't appreciate. For instance, using centralized crypto exchanges is very common, and despite warnings, people often keep a lot of money there because it's convenient to them. Some also use custodial wallets because they don't care that it technically poses a rick of an exit scam and similar things.
Another Bitcoin's advantage is that it can be used as an alternative to a bank, especially for international transfers. International transfers can sometimes take days and have a significant fee, but Bitcoin transactions can happen much faster and, if the sum is high, at a much cheaper fee. Also, where's no requirement to enter a lot of data and wait for an authority's approval.

It's not just about being centralized or decentralized. The centralized currency already exists in many different forms from fiat that we use day to day to online payment systems like PayPal. Each are solving a problem and providing a useful utility hence they have a "value". Creating another centralized currency can only be useful if it actually provides a useful utility. In fact this is one of the criticism of the CBDCs that are the hot topic these days, they don't seem to offer anything new.
In comparison bitcoin as the only decentralized currency offered a new form of money that didn't exist before. Which is why it gained popularity and a growing value.

Well, that’s what you think or have researched of it at the time but,

The value of bitcoin isn’t embedded in its decentralized nature although, it plays a key role to its success and we would get to that real soon.
Bitcoin happens to have been the pioneer cryptocurrency, a new tech in an era where the masses hunger for advancements in technology but, the value of bitcoin is in its scares nature as a commodity. With buyers and sellers placing their Bid/Ask in demand and supply, the currency appreciates or depreciates.

Decentralization of bitcoin adds to its securities and becomes one of the reasons why it’s the most trusted amongst others and have stood the test of over a decade and some years.

The decentralized nature of Bitcoin is a concrete feature but we must admit that that is not the only reason why Bitcoin has thrived.
Fiat is not useless. It's still a store of value. Majority of the world still use Fiat. Less than 5% of the world population own crypto. So how many of these will be for Bitcoin? Besides, a good number of those using crypto still use fiat. And the over 95% of people in the world use Fiat as a store of value.

If Bitcoin was just a decentralized currency and it cannot be invested then I doubt it would as successful as it is today.
So it's right to say the decentralized nature and the investment nature are the things that make Bitcoin successful.

Being decentralized is not what gives BTC value, neither centralization or decentralization gives value. What gives BTC value is its usefulness, fixed supply and demand. Decentralization is the factor that no central authority is in control, and control is in the hands of all the users in the BTC network. If BTC was decentralized but didn't have any usefulness, it will have zero value.

If bitcoins was centralized, it means everything is still controlled by the people who have the data, and that will not be different from the CBDC that has been created by the government to compete with bitcoins.
Many people are fed up of being under the control and monitoring from the government, and the number is increasing by the day, the desire for freedom and anonymity is what will always make people consider the decentralized nature of bitcoins as a choice.

If we ignore the material values, then we can completely see that the ability to solve the transaction problem is not easily tied to it, can be much different than before when the attention and behavior continue.
Many people's approach to the market doesn't really pay much attention to the technology or the layers of algorithms going on behind it. But it is clear that now and in the future we are witnessing a rapid development and the recognition of it.

There's no way for the government to make Bitcoin centralized because they can't find its original creator and all they can do is put pressure on some exchanges that don't follow their rules and regulations and eventually they are forced to close due to some illegal activities. this is just some example of their hostility and imagine if they can have full control of it, they can earn lots of money from bitcoins but instead, they are not able to do so and there's no way for them to control it until no and bitcoins will remain to be like this forever and the price will also increase in the future due to the fact that it always gained trust from the people and big companies every year.

But even if the government finds Satoshi, can he change it so that bitcoin becomes centralized? Although he is the one who created it, I don't think he can make bitcoin centralized. So it is tough for the government to figure out how to control bitcoin. But the future is unpredictable, and the technology is constantly evolving, maybe in the future someone can decrypt bitcoins. So we should enjoy what we have, don't be too subjective, and always live realistically.

Apart from the theory that you have read, have you also found other things that are more unique in Bitcoin now? because apart from the things you mentioned, I have also seen several companies that are willing to accept Bitcoin as payment for their products.

Likewise with countries like El Salvador which have also adopted Bitcoin, making Bitcoin more preferred by many people and experiencing additional users every year. So apart from theory, you also have to read more about the facts that are happening around Bitcoin so you can find out more about what has happened to Bitcoin apart from the theory that is in Bitcoin itself.

The prices are simply derived from demand and supply so the demand among users will be more when there's some utility associated with it but sometimes the temporary period also pulls demand for some zero utility coins and btc is not among them which is why it's been growing each year more strong.The decentralised concept with the actual utilisation make it best among market giving users assurity of their funds.

This is definitely something that I highly prefer in bitcoin world and that's why I am in here anyway. It just feels like its a much better option and should not be really all that difficult to understand why. I am not saying that we shouldn't really do anything crazy, we can still go crazy time to time with small amount of money to make sure we are taking big risks for big rewards at times. But at the same time I feel like its going to be difficult to do that when we are talking about a bigger amounts. So most of our money should be in bitcoin, just put %80 of it there if you can, and with the rest of it you can do whatever you want to do, and take bigger risks and see if it works or not.

Bitcoin can't become centralized or controlled and that's one of the strength of Bitcoin that's making it a big threat to the current financial system we have been operated by the government and the banking sector. What keep Bitcoin valuable is because it has a community.

Without the community of believers backing Bitcoin it would had died from the attacks and negative press it has been receiving for a very long time but Bitcoin holders believe in it and always bought whenever the price dips. We have other decentralized currency that failed.

Bitcoin isn't only valuable because it's decentralized but also because the supply of Bitcoin is limited and the block rewards is also halved every four years and this create scarcity of the Bitcoin in the market and causes fomo as investors fears to miss out on future gains.

Technically correct, but proprietaryly you can convert your original bitcoins to a centralized version at any time, just send them to centralized services and do all your needs through it.

Unknowingly this has been a common practice by some bitcoin users for a long time. And sadly, it was precisely this "centralizing" effort that led to the biggest hack cases that shouldn't have impacted many users if they adhered to the essential principle bitcoin was created.

You can compare this with the operative systems, the difference between Linux and windows is decentralization, as you can see the Linux community always works to make for the operative system something better for the user while you can see Microsoft team working hard to have the control over the users, that's why decentralized projects are always better for the community.

If bitcoin becomes a centralized project I think a lot of people would just leave it and switch to other altcoins.

Well, you are right, indeed, considering all that have played out ever since bitcoin started gaining prominence and popularity in the financial market, security operatives of the government must have done alot of digging to try to find out how to bring the technology to a halt, but unfortunately for them, No way...

Now, I believe that most of us can see the Clear picture as to why Satoshi Nakamoto decided to remain anonymous all through the times he was nurturing bitcoin, and immediately he or they saw that bitcoin was matured enough to carry on, he or they went offline letting the technology ⚙ run on its own..
If Satoshi was not anonymous, he or they would have been arrested by now, and forced to shut down or hand over the technology behind bitcoin and blockchain to the government.

Well, one of the main reasons why bitcoin was created was so that people could use this currency to carry out transactions without the need for intermediaries or anything to support it, so it would not make sense to centralize it. I consider it more difficult for this asset to be centralized since it literally has no domain and it may be for this reason that many are interested in having bitcoins, since it is known that centralized currencies are dominated by both banks and by governments, so they limit their use and not only that, but when they want they can simply steal from you, but with bitcoin this act is made difficult, I am not saying that it is impossible for them to take away your bitcoins since hackers exist but it is not so common and there is no one who restricts you for its use... this is what differentiates it from fiduciary rinds, and what attracts the public's attention... so it should stay that way.

OP, I can see that you already have two posts in the Bitcoin Discussion forum. Wouldn't be nice if you combine your questions into one post, instead of having multiple posts created in a short time frame(which kinda looks like post spamming)?
Anyway, Bitcoin is valuable because of the secure transactions and the scarcity. Yes, decentralization also has a role in building trust and confidence among the people, who are using BTC. It's theoretically possible for someone to take control over BTC by performing a 51% attack, but the BTC price would drop and I assume that Bitcoin Core will be forked and most Bitcoin users will move to the version of Bitcoin, that isn't controlled by a centralized entity.

This is also what I wonder, can Satoshi make bitcoin centralized? If that can happen, we are also in danger because he can change his mind at any time. But I also agree that he cannot make it focus or can destroy it even though he is the one who created it. Bitcoin is open source, and anyone can maintain it without its creator, so no one can destroy it.

Yes, if something better than bitcoin is created, then we shouldn't be too surprised because that's the evolution of the world. But I don't think that will happen anytime soon because more than 14 years have passed, and there is still no altcoin that can surpass bitcoin, so we don't need to worry about that.

Op I couldn't understand your message earlier, it took me sometimes to comprehend your writings because of some ungrammatical expression of some phrase. Though all of us make mistake from one way to the other even as that read other users threads to improve your writings.
If bitcoin was a centralized system in the internet, authorities would have stopped it since then, BTC would have not grown to this level. Bitcoin is only surviving because nobody from the authorities can control the system.

Yes, fiat is not entirely useless, and I have overstated it because we all need it in our lives.

But I mean, if bitcoin is not decentralized, how can it be the successful investment it is today? Why are many altcoins also cryptocurrencies, but they are not decentralized, and they can't be as promising an investment as bitcoin? Altcoins are only considered speculative, gambling, used to make short-term profit, not a promising asset like bitcoin. Bitcoin has value because it is a highly sought-after asset, but will it still be potential if it becomes centralized? Or it will end up like other altcoins, that's what I mean. The decentralized nature of bitcoin determines the future of bitcoin.

In my opinion, what gives BTC it's value and utility within this context isn't necessarily the level of decentralization itself but rather the features that it's decentralization brings about. I find centralization and decentralization to be a on a spectrum, with each end providing its own set of values and utility. On one hand the BTC token distribution among users is verifiably the most widespread & decentralized among all cryptos with no small group of users holding the majority of tokens like other chains, while on the other hand some might consider the concentration of mining pools to be centralized (i don't believe so). Either way, what really matters is the features brought upon by its level of decentralization-BTC's being the most immutable and most liquid but on the other hand not necessarily the fastest. Even as you slide down the spectrum towards greater centralization with other networks like ETH, Cosmos or even others like ICP with less than 150 actual physical nodes, people are still able to find value and different utilities in it through features like speed and usability (low fees) even with it being more centralized. This even goes for services and dapps where DEXs and such might offer great customizability and freedom for power users but on the other hand centralized incumbents have the edge when it comes to usability, variety, UI and stuff like that. So overall I wouldn't judge BTC based on how decentralized it is, I think it's essential to focus on why people buy their bitcoin and what utility/value it provides for them, not if its decentralized or not, the utility and value differs for everyone. Like I said some people might call the token distribution decentralized while at the same time calling the mining pool concentration centralized, though at the end of the day it is the most immutable/secure/hardest to attack and that's what gives value to it for me.

Bitcoin is decentralized for sure but I don't think that's why people adopt it and I guess here we're talking about payment method right?

Investment is a different thing and but people also don't invest in it because of decentralization (they don't care).

Bitcoin is the most widely accepted. It will never go down. It cannot be doublespent without problems. It cannnot be taken down by governments. And it's the easiest to use.

That is why people adopt it. I know Bitcoin is like this because it is the most decentralized coin, but you could argue other coins are also similarly decentralized but without the same advantages I mentioned.

No body has ever talk down or criticize the fact that Bitcoin is being decentralized, in one way or the other it has brought a lot of productivity to the token, having Bitcoin operating on its own as a decentralized token is one of the reason why the use of centralized exchanges are necessary.

There is a need for partial regulation and asset security of which can be best done on CEX.

A very good point you’ve made here, It isnt really the decentralization itself that makes it useful but really what utilities it can provide, with services. The decentralization itself has either made its operation easily accessible and  more expensive to acquire.

Though different actions for different context, i personally feel the decentralization of BTC is one of the major reason why it is advisable to buy it more on centralized exchanges in order to have a reasonable amount of asset guarantee, tokens of such can be manipulated and sold as fake on DEXs.

At the same time CEX will offer a considerable amount of fee when carrying out transactions on such token in compare to when carrying out transactions on DEX.

Since Bitcoin is decentralized it’s beneficial to lower barriers to its entry through CEX as it will even improve ones understanding of the use of such tokens, it’s wide range importance, it can equally be trade on features even without having much understanding of trading just as Bitget introduced into crypto their copy trading feature.

Bitcoin can't leave decentralized process, assume Bitcoin is centralized government has stopped Bitcoin for a long term, since is decentralized and internet exist, no body can shut down Bitcoin, but rather keep spreading across the globe and become popular day by day, while serves as online means of payment.

I understand that sometimes, some questions will look so stupid that some people might want to use that to get on you but we still got to ask anyways.

Bitcoin will always be decentralized, it's built this way and it became an interest to someone like me because of the decentralized part, apart from the incredible future value of Bitcoin I have always want to be one step away from the government, and Bitcoin just seems to fit the gap very well.

Just relax, Bitcoin ain't a snake that sheds or will shed it's own skin.

Based on the theory you explain, your understanding of Bitcoin is very good. Bitcoin is completely open source and decentralized, no organization or individual can control Bitcoin, the network will remain secure even though not all users can be trusted. public trust in Bitcoin is supported by the fact that Bitcoin does not require trust at all, this fact is one of the strengths that can attract interest in Bitcoin due to its decentralized nature.

Satoshi designed Bitcoin to perfection, its main function as a major step towards making money safer and at the same time serving as a form of protection against financial crime. Until now there has never been news circulating that bitcoin can be counterfeited, so Bitcoin owners have full control over the payments they make. One of the factors that supports the growth of Bitcoin so fast because it can be used for various purposes and gives users the freedom to make transactions with their own rules.

Value based on what? You are seeing the price in terms of a fiat currency, for example USD. That does not mean that the value of 1BTC is changing, it remains 1BTC but the price at which the market sells/buys it is what the value is. That could be in fiat or altcoin or any other asset. We dont peg the value of BTC to another asset, but the markets determine the price based on the orderbooks against other currencies.

You are confusing fiat price and characteristics of bitcoin. Being decentralized is a character that bitcoin possesses. Definitely that makes it popular and attractive to the population and raises its demand, but it does not govern the price of bitcoin in fiat.

I think it is not possible. Decentralization is a original principle of Bitcoin. This ensures that no single entity or governing authority has any control over the network. Bitcoin fundamental principles lie in its decentralized nature. This principle underlies Bitcoin design to promote transparency, security and independence from central authorities such as governments or financial institutions. So Bitcoin is unlikely to abandon its essence of decentralization.

Its decentralization has made bitcoin different and unique. Enabled Bitcoin to run the network without a centralized organization controlling or managing it. Decentralization also helps Bitcoin avoid some of the potential problems in a traditional financial system, like supply exhaustion and government control.

If Bitcoin loses its decentralized nature, it will lose part of its history and value. Of course, this is by no means a certainty and it still takes time and development to gauge the impact. However, an excessive concentration in Bitcoin can pose risks and hinder its popularity and usage.

We already have fiat if someone wants to use the centralised currency. There are many other assets that are centralised too and valuable too that we use on daily basis. Whether it’s precious metal or commodity or bonds we have it. I don’t think Bitcoin or basically crypto should be dragged into this.

Bitcoin can enter into realm of centralised economic circle but it will happen indirectly or it is happening soon.  Considering most of the big financial institutes are now forcing the applications of Bitcoin ETF and even ETHER ETF things gonna get worst. On the verge of centralisation indirectly.

Bitcoin is a decentralized currency from the beginning it was created, i believe that cryptocurrency is meant and design to decentralized and it cant be centralized currency, i picked some points from op when it portray that without bitcoin be decentralized currency it would have be a problem in Bitcoin, that is why when people are emphasizing on the comparison of Bitcoin and fiat currency, I do give them instance that Bitcoin is it technology while fiat currency is meant to be centralized why Bitcoin is decentralized and if Bitcoin should be centralized currency they will be disvalue of Bitcoin because fiat currency is an ancient currency.

Decentralization is what has allowed bitcoin to survive, if you take the time to read a little bit about it there were several initiatives which created their own currency and governments around the world destroyed those projects using several excuses, but the main reason was they were not going to allow any competing currency to exist, Satoshi knew this and as such he created a novel concept, a decentralized currency which could not be killed by seizing a few servers and sending some people to jail, if it was not because of this innovation bitcoin would have died long ago.

Another important aspect of Bitcoin is its trust-less design which in my opinion is equally important as its decentralized nature. Does decentralization imply no need for trust? I don't think so. The brilliance of Bitcoin is the combination of both.

Bitcoin empowers people to transfer value (once it gained value) and no entity can do something about it (OK, we mostly need the Internet for it and I exclude edge cases which demonstrated transfering Bitcoin transactions over some other physical network layers).
It gives them some sort of freedom to transfer value without need to trust someone.

It's an empowerment like the Gutenberg press was which liberated the transfer of knowledge, texts, thoughts and more as prints for everyone (before handwritten texts and books were in the domain of the rich or church, not affordable for the plebs).

If people are not caring about decentralization then they are not aware of how great that is. The fact that decentralization allowed us to be profiting without any government issues, is the reason why I am invested in bitcoin.

Governments only care about keeping the power, and getting richer meanwhile, that's all they care about and that's why it's going to be a very much difficult job to handle. I am guessing that it's good that bitcoin is decentralized because unlike fiat, nobody makes it any worse and that is an important thing. Fiat world is not like that, it gets worse and worse all the time and we can't really make any big changes on it like that, we need to be quite careful about what we do.

Bitcoin will always be decentralized. Bitcoin was created to be decentralized, even when Satoshi Nakamoto s started, it was already in nature, and also the Bitcoin that is open-source. Anyone can review the code and contribute to it, it's more likely someone will take full control of Bitcoin.
Consider also the community of Bitcoin which are committed to preserving Bitcoin's decentralization.

When the adoption becomes bigger, more nations, more locals accept Bitcoin, run mining rigs, full nodes, the Bitcoin network will become more decentralized in future. It is more easily to cause a centralized network in early years than now.

The commitment of Bitcoin communities to maintain its decentralization is important as well. They know that decentralization contributes a lot to value of Bitcoin so they will contribute their parts to maintain it.

Bitcoin is a digital currency that has gained huge popularity in recent years because it is a decentralized digital currency. Bitcoin would therefore lose popularity if it were centralized. It is decentralized and not controlled by a central authority. Bitcoin does not exist in physical form rather, it is held and transferred electronically through a secure, distributed ledger system known as the blockchain. This currency is used only in the virtual or net world. Although it will take a lot of time if it is centralized, the governments will not be able to control it easily.

Force of Bitcoin? I don't know if I'm ignorant enough to not know this phrase, but it's my first time to see this phrase so pardon me if I'm a bit laughing by the time I'm posting this. :D

Anyway, Bitcoin will always decentralized, and that will not change. The creator has already given it to us users, and it's our turn to at least retain it at the top. I don't see Bitcoin going centralized because after all, it doesn't need one person or one authority or one group of people in order for something to be changed. If there will be changes in the Bitcoin's code, or if there will be added features, many people will need to agree with it, and that includes Miners, Developers, and many more.

There's already a huge community behind Bitcoin already, and many more will be in the future thus, it will remain decentralized. With regards to learning, even the most famous businessmen right now are still on a learning process because learning is unstoppable. Whether you're a business owner, or an investor or anything, you still need to learn because you don't know anything.

No one owns Bitcoin and no one can control it, this is the most interesting part of this great innovation that Satoshi have created, it's why I believe so much in Bitcoin, it's also why it's called the people's money, since no one can control it, this makes it Decentralized, isn't this why the government don't like it? I bet they tried in the back to try and hunt down the creator, they just don't know how.

For the first time in the world, there is actually something that the government can't control, see how crazy that is? If I detect a gold mine in a certain area right now, the government will claim they owned the land and even if that land belongs to my forefathers or even if it's in my name, the government will still take over.

But not Bitcoin, and that's why majority of all the money I made are in Bitcoin and all what's coming are still going into Bitcoin, I have no regret doing this, as this is the way things are supposed to be.

for me the key to the success of bitcoin lies in its decentralized nature. we can imagine if bitcoin became centralized overnight the system would collapse the day after it became centralized lol. decentralized means that trade is carried out between peer-to-peer which means that no single authority can interfere, including the government.

i think making bitcoin centralized is a bad idea, why ? because the government is going to step in to regulate bitcoin. imagine if the government interfered and the political situation was still in chaos. yes, of course we know, bitcoin will collapse in price, not to mention if bitcoin has to be connected to a central bank.

so i hope while i'm still alive, please don't let bitcoin leave its decentralized  ;D.

It doesn't matter how great a tech is or how great the cryptography algorithms work for Bitcoin.

When we used email, or browse pages, we don't care how great HTML or CSS is compared to Java or something else.

We even don't care if the internet is becoming more centralized than 20 years ago.

If people really cared about government intrusion, everyone is using TOR and VPN and dynamic device. But we don't really care unless we want to use something private right?

I find it funny sometimes some people using Bitcoin say all this but then they are happy to let Google and their phones and Facebook track them.

What you said is absolutely true, when people go to the forum, they always talk about the decentralization of bitcoin and constantly criticize fiat and other centralized government systems. But they are using fiat, bank accounts or social media every day...Honestly, people interested in bitcoin are only interested in bitcoin's profitability and not any of its other features. I bet if bitcoin were stable and not profitable, there wouldn't be too many people needing it, myself included. What I care most about is profit.

Bitcoin's decentralization is undeniably revolutionary. Satoshi Nakamoto's creation has indeed disrupted the conventional financial system and power structure. I feel your enthusiasm, the euphoria even, as Bitcoin remains outside of direct government control

However, it's important to understand that nothing is entirely uncontrollable. Though no central entity owns Bitcoin, there are entities, such as miners and large holders, who can significantly influence its operation and price. Also, while governments may not control Bitcoin directly, they can control its use within their borders

I empathize with your desire to invest heavily in Bitcoin. Yet, remember the importance of portfolio diversification. Placing all your eggs in one basket exposes you to substantial risk. So, while continuing to invest in Bitcoin, consider diversifying your investments for balance. That's just solid finance

If Bitcoin was not decentralized, the government could easily prevent it from being used for the first time. If you recall, Wikileaks was previously financially blocked by the government from using popular payment and donation methods like as Visa, MasterCard, and banks. As a result, people adopt Bitcoin as an alternative to the present system and continue to operate despite the problem. And, because it is decentralized, Bitcoin cannot be stopped by anyone. Even if they turn off all internet connections around the world, Bitcoin will continue to operate.

No, or maybe in the future. who knows? I don't think Bitcoin can become centralised unless its founder (Satoshi) is identified. The government will really find great pleasure in doing so because they are already fighting to gain control over Bitcoin, but it's been a very difficult thing for them to archive. If they find Satoshi, then they will really have their plans of making Bitcoin centralised fulfilled. But until then, Bitcoin can never be centralised, and I don't even believe Satoshi's identity can be revealed any day.

If Bitcoin network had not been decentralized, it would have died many years ago. Being decentralized helps Bitcoin network to be stronger with time and it gains more acceptance with time.

A longer it exists, a bigger recognition from the communities that it is a very strong and decentralized network. It has no longer been called as a fraud by governments and example in the USA. Bitcoin is considered as a commodity. It is a big win for Bitcoin because it is not a fraud, it won't be killed by governments as they no longer have big reasons to stop Bitcoin network.

So much fake news and fake stories and nonsense online, I kinda get that. But here in this forum, I'm more used to seeing it only in altcoin posts which is the major reason why I completely stopped reading there, and sad to see it come more and more on this part of bitcointalk.

Sometimes I even believe people who say decentralized a lot not only don't really care, but don't even understand crap.

So annoying!