Is Bitcoin truly decentralized?

[Transformbitz]

I search some article they said that it's Pseu-decentralized means but bitcoin for me  has no central control no central repository of information, no central management, and, crucially. that's why governments fear bitcoin.

[Moiyah]

Proponents of Bitcoin claim that Bitcoin is a decentralized system. And because it is decentralized, nobody can control it - not you, not me, not the central banks, not the Federal Reserves, not anybody. Bitcoin nodes are distributed extensively and not kept in a centralized system (for instance, in one server) which can be susceptible to hacking or take over. While the inherent system is designed to operate in a decentralized manner, external factors are making Bitcoin less decentralized. Why? Because Bitcoin transaction requires miners to validate and update transactions on the Bitcoin network. To do that, miners need hashpower. The greater the hashpower, the greater control the miner or group of miners have on the system. Currently, Chinese miners control more than 70% of the total Bitcoin mining hashpower in the world, making China the undisputed world leader in Bitcoin mining. Talk about decentralization. According to blockchain.info, 4 (19%) of the total of 21 mining pools control more than 50% of the hashing power, while the rest of the 81% are left with 47% of the remaining hashpower. Doesn't sound so decentralized, does it?

Moreover, Bitcoin developers are controlled largely by Bitcoin Core group that is being run by people hired by Blockstream, a private company. So now, you have bitcoin mining controlled by a small handful of miners and the developers controlled by a group of people belonging to a single private entity. Some argue that this is exactly what makes Bitcoin decentralized because none of them can gain control over it. Really? Because from the outside, it looks more like a company being run by two hard-headed CEOs who are only looking out for their own self-interest. When two CEOs clashes against one another, is that what they refer to as decentralized?

So while Bitcoin's inherent system is decentralized, the governing factors (hashpower dominance by Chinese miners and software development by a small group of developers) makes it less so.

Indeed true. And because of it's protocol and decentralized system, even the government nor the people who wants to destroy it will not succeed as it is irreversible and uncontrollable.

[Kanda Yu]

Proponents of Bitcoin claim that Bitcoin is a decentralized system. And because it is decentralized, nobody can control it - not you, not me, not the central banks, not the Federal Reserves, not anybody. Bitcoin nodes are distributed extensively and not kept in a centralized system (for instance, in one server) which can be susceptible to hacking or take over. While the inherent system is designed to operate in a decentralized manner, external factors are making Bitcoin less decentralized. Why? Because Bitcoin transaction requires miners to validate and update transactions on the Bitcoin network. To do that, miners need hashpower. The greater the hashpower, the greater control the miner or group of miners have on the system. Currently, Chinese miners control more than 70% of the total Bitcoin mining hashpower in the world, making China the undisputed world leader in Bitcoin mining. Talk about decentralization. According to blockchain.info, 4 (19%) of the total of 21 mining pools control more than 50% of the hashing power, while the rest of the 81% are left with 47% of the remaining hashpower. Doesn't sound so decentralized, does it?

Moreover, Bitcoin developers are controlled largely by Bitcoin Core group that is being run by people hired by Blockstream, a private company. So now, you have bitcoin mining controlled by a small handful of miners and the developers controlled by a group of people belonging to a single private entity. Some argue that this is exactly what makes Bitcoin decentralized because none of them can gain control over it. Really? Because from the outside, it looks more like a company being run by two hard-headed CEOs who are only looking out for their own self-interest. When two CEOs clashes against one another, is that what they refer to as decentralized?

So while Bitcoin's inherent system is decentralized, the governing factors (hashpower dominance by Chinese miners and software development by a small group of developers) makes it less so.

The system of bitcoin is quite complicated and complex. There are only few sets of people who knows how bitcoin really goes and I think that's the reason why we cannot conclude that it is a decentralized currency completely. No one can fully gain control on bitcoin that's why it is decentralized somehow but that doesn't matter that much as long as we are doing our job on it.

[Joemzz31]

Yes. It is for those that invest. The investors will surely benefit. If the users that pay for it benefits, they pay for it so it is not directly that they benefited.
The benefits from the investor is when they already sold it and also as an experience that they can share it to others.

[CoPil]

Proponents of Bitcoin claim that Bitcoin is a decentralized system. And because it is decentralized, nobody can control it - not you, not me, not the central banks, not the Federal Reserves, not anybody. Bitcoin nodes are distributed extensively and not kept in a centralized system (for instance, in one server) which can be susceptible to hacking or take over. While the inherent system is designed to operate in a decentralized manner, external factors are making Bitcoin less decentralized. Why? Because Bitcoin transaction requires miners to validate and update transactions on the Bitcoin network. To do that, miners need hashpower. The greater the hashpower, the greater control the miner or group of miners have on the system. Currently, Chinese miners control more than 70% of the total Bitcoin mining hashpower in the world, making China the undisputed world leader in Bitcoin mining. Talk about decentralization. According to blockchain.info, 4 (19%) of the total of 21 mining pools control more than 50% of the hashing power, while the rest of the 81% are left with 47% of the remaining hashpower. Doesn't sound so decentralized, does it?

Moreover, Bitcoin developers are controlled largely by Bitcoin Core group that is being run by people hired by Blockstream, a private company. So now, you have bitcoin mining controlled by a small handful of miners and the developers controlled by a group of people belonging to a single private entity. Some argue that this is exactly what makes Bitcoin decentralized because none of them can gain control over it. Really? Because from the outside, it looks more like a company being run by two hard-headed CEOs who are only looking out for their own self-interest. When two CEOs clashes against one another, is that what they refer to as decentralized?

So while Bitcoin's inherent system is decentralized, the governing factors (hashpower dominance by Chinese miners and software development by a small group of developers) makes it less so.

Not that sure.. but no one's controlling bitcoin or manipulating bitcoin in an odd way just like the local government does with the centralized currencies. It's just the natural flow of fluctuation because of the use of the currency/token and the demand for it. But I think the company who holds servers and stuff for bitcoin has a connection about the topic you're referring into. Of course they make sure of those things, for the benefit of those who demands for Bitcoin especially investors, traders, and miners.

[Harley29]

Proponents of Bitcoin claim that Bitcoin is a decentralized system. And because it is decentralized, nobody can control it - not you, not me, not the central banks, not the Federal Reserves, not anybody. Bitcoin nodes are distributed extensively and not kept in a centralized system (for instance, in one server) which can be susceptible to hacking or take over. While the inherent system is designed to operate in a decentralized manner, external factors are making Bitcoin less decentralized. Why? Because Bitcoin transaction requires miners to validate and update transactions on the Bitcoin network. To do that, miners need hashpower. The greater the hashpower, the greater control the miner or group of miners have on the system. Currently, Chinese miners control more than 70% of the total Bitcoin mining hashpower in the world, making China the undisputed world leader in Bitcoin mining. Talk about decentralization. According to blockchain.info, 4 (19%) of the total of 21 mining pools control more than 50% of the hashing power, while the rest of the 81% are left with 47% of the remaining hashpower. Doesn't sound so decentralized, does it?

Moreover, Bitcoin developers are controlled largely by Bitcoin Core group that is being run by people hired by Blockstream, a private company. So now, you have bitcoin mining controlled by a small handful of miners and the developers controlled by a group of people belonging to a single private entity. Some argue that this is exactly what makes Bitcoin decentralized because none of them can gain control over it. Really? Because from the outside, it looks more like a company being run by two hard-headed CEOs who are only looking out for their own self-interest. When two CEOs clashes against one another, is that what they refer to as decentralized?

So while Bitcoin's inherent system is decentralized, the governing factors (hashpower dominance by Chinese miners and software development by a small group of developers) makes it less so.

I do not know if the bitcoin is centralized. but according to my research. Bitcoin has no central control: no central repository of information, no central management, and, crucially, no central point of failure. And yet, most of the actual services and businesses built within the Bitcoin ecosystem are centralized.

Yes bitcoin is decentralized and I have three year here and I search about bitcoin in detail even I ask from a lot of people about bitcoin that from where it’s going to operate and who ids the owner of bitcoin but still I did not get a correct answer because everyone they are giving different answers so bitcoin is still decentralized but I think very soon bitcoin will be centralized and once it become centralized so its price will go more high.

[cryptorampage]

Agreed of your statement , Bitcoin mining is centralized , but we cant compare with stock market , we see that they are not completely independent, Bitcoin is independent in this specific issue. It's damn cool that how exactly the transactions and operations are maintained. I hope every media will follow this system (cryptographic module). Thanks for the post.