Thian778
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May 28, 2018, 11:59:36 AM |
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I don't like the idea because when Bitcoin is being regulated or controlled by the government or a certain group, they had the very big advantage of the earning things since they control the price and the money on the market so I love it being decentralized on the future, and I like to have laws concerning Bitcoin to see on the future.
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The forum strives to allow free discussion of any ideas. All policies are built around this principle. This doesn't mean you can post garbage, though: posts should actually contain ideas, and these ideas should be argued reasonably.
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bart_to_bart
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May 28, 2018, 12:03:42 PM |
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I doubt that this will happen. It is almost impossible to capture 51% of the total computing power in the world. Bitcoin, unlike altcoyins, has already accumulated its critical mass to bring down its attack by 51% will be almost impossible.
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deppil
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May 28, 2018, 12:48:45 PM |
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I really find bitcoin hard to become centralized in the future. Core will make a hard stand on it that may cause more forks. If bitcoin becomes ineffective and there are more alternative coins becoming better then bitcoin possibly will lose its top spot in crypto but I cannot imagine it becoming centralized.
I think it's impossible to happen to bitcoin can be centralized and I don't imagine how it works later. I think bitcoin will remain decentralized anytime. because it's the nature of bitcoin. one that will make bitcoin a possible centralization its government? because they are trying to tax to the bitcoin users |
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marites
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May 28, 2018, 12:56:49 PM |
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I think there is a possibility that bitcoin will be centralized in future. We all know that more and more people are getting interested to engage in btc industry because of its very profitable value. So if this can continue for a long time and recognized by all countries and that is the right time.
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Jacata98
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May 28, 2018, 01:04:52 PM |
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Bitcoin is as virtual as credit cards and online banking networks that people use every day. Bitcoins can be used for online payments and in real stores, as well as any other kind of money.
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Goodday
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May 28, 2018, 01:08:06 PM |
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Bitcoin is one of the most recognizable cryptographic currencies and bitcoin is one feature of Blockchain technology and all transactions with blockchain will be transparent and centered in the future.
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redhorsebeer1980
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May 28, 2018, 01:14:32 PM |
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The government cannot control bitcoin or change some code in the blockchain to just make it as a centralized crypto currency.The government uses their power to manipulate the bitcoin.They used their power to control the decentralization and turns it into a centralized monetary system.
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xaker74
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May 28, 2018, 01:22:49 PM |
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This is very likely to happen when the reward for the found block is only the transfer fee. Then, many miners because of the disadvantages will no longer mine.
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Enoch Lewis
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May 28, 2018, 02:03:06 PM |
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Athough the economics of mining would suggest that centralization is inevitable, the degree to which users require decentralization will ultimately dictate how much Bitcoin becomes centralized. In my opinion, if users are ardent in their preference for a completely decentralized system, miners can’t consolidate power without risking that the network will be abandoned.
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KingScorpio
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May 28, 2018, 02:09:05 PM |
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As Bitcoin mining is partially controlled by Chinese miners, I have a feeling that sometime in the near future, Bitcoin can become centralized if no solution against this is proposed. If BTC could manage to bring a solution towards mining centralization by preventing mining pools with the most hashrate to effectively gain control of the network, then it would aim to become more decentralized over the years. As mining difficulty increases and new ASIC hardware gets developed, it would make it less possible for any average user to mine Bitcoin, thus making it more centralized each day. Nevertheless, I would like to know your opinion about this, as if BTC becomes centralized, it might cause it to decrease in value, and most of all, violate the principles that it was created for.  of course, bitcoin is centralised, the whole decentral bitcoin is just a marketing slogan, in truth bitcoin is an election with computation power. the one with the most computation power is the one that becomes the king and the wealthiest man of bitcoin actually a very retarded way of distrubuting power |
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oceantiger
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May 28, 2018, 02:15:00 PM |
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If bitcoin becomes centralized then there will no more bitcoins because decentralization is the principle fundamentally to bitcoin. Then the government may have win the war against bitcoin and the value will surely drop.
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thomas daniel
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May 28, 2018, 02:40:13 PM |
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The whole idea behind Bitcoin was to create a decentralized currency, a currency free from the Governments and banks. If someone somehow managed to centralized it, that would mean Bitcoin has failed its original purpose and it will become worthless. Bitcoin is very much the future of finance and it will become your go-to currency in near future.
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btcmura
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May 28, 2018, 02:58:59 PM |
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I agree with you to some extent. Mining is becoming difficult with time and thus only big players will remain in the field of mining.
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jake zyrus
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May 28, 2018, 03:22:56 PM |
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As Bitcoin mining is partially controlled by Chinese miners, I have a feeling that sometime in the near future, Bitcoin can become centralized if no solution against this is proposed. If BTC could manage to bring a solution towards mining centralization by preventing mining pools with the most hashrate to effectively gain control of the network, then it would aim to become more decentralized over the years. As mining difficulty increases and new ASIC hardware gets developed, it would make it less possible for any average user to mine Bitcoin, thus making it more centralized each day. Nevertheless, I would like to know your opinion about this, as if BTC becomes centralized, it might cause it to decrease in value, and most of all, violate the principles that it was created for. I think it will be ironic if bitcoin or any other cryptos will be decentralized if they are originally made as a free currency. Being decentralized is an important feature because it lessens the expenses and speeds up the transactions. Hopefully, cryptos will keep improving but I like its characteristic as decentralized to remain. |
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Gathel
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May 28, 2018, 03:23:55 PM |
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The whole idea behind Bitcoin was to create a decentralized currency, a currency free from the Governments and banks. If someone somehow managed to centralized it, that would mean Bitcoin has failed its original purpose and it will become worthless. Bitcoin is very much the future of finance and it will become your go-to currency in near future.
it could happen if the government allows bitcoin into currency, if that happens then bitcoin will be focused on the state finances and hastily by many people, because currently bitcoin is only concentrated in the world of crypto trade |
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HaroldConway
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May 28, 2018, 04:36:25 PM |
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As Bitcoin mining is partially controlled by Chinese miners, I have a feeling that sometime in the near future, Bitcoin can become centralized if no solution against this is proposed. If BTC could manage to bring a solution towards mining centralization by preventing mining pools with the most hashrate to effectively gain control of the network, then it would aim to become more decentralized over the years. As mining difficulty increases and new ASIC hardware gets developed, it would make it less possible for any average user to mine Bitcoin, thus making it more centralized each day. Nevertheless, I would like to know your opinion about this, as if BTC becomes centralized, it might cause it to decrease in value, and most of all, violate the principles that it was created for. I don’t think Bitcoin will be centralized. It is a foolish decision. The governments will be able to destroy it and invade every user’s privacy. PRG for instance will be ruined if it leaks privacy of users. |
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tambok
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May 28, 2018, 04:42:15 PM |
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As Bitcoin mining is partially controlled by Chinese miners, I have a feeling that sometime in the near future, Bitcoin can become centralized if no solution against this is proposed. If BTC could manage to bring a solution towards mining centralization by preventing mining pools with the most hashrate to effectively gain control of the network, then it would aim to become more decentralized over the years. As mining difficulty increases and new ASIC hardware gets developed, it would make it less possible for any average user to mine Bitcoin, thus making it more centralized each day. Nevertheless, I would like to know your opinion about this, as if BTC becomes centralized, it might cause it to decrease in value, and most of all, violate the principles that it was created for. I don’t think Bitcoin will be centralized. It is a foolish decision. The governments will be able to destroy it and invade every user’s privacy. PRG for instance will be ruined if it leaks privacy of users. Yes it will never centralized based on my knowledge and as far as well all know currently, maybe it would take more decades to come before it will finally adopt by most countries and by that it is possible that it will become centralized, besides when crypto is fully adapted we need assurance and rules from our government. |
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HectorAlden
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May 28, 2018, 04:58:30 PM |
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As Bitcoin mining is partially controlled by Chinese miners, I have a feeling that sometime in the near future, Bitcoin can become centralized if no solution against this is proposed. If BTC could manage to bring a solution towards mining centralization by preventing mining pools with the most hashrate to effectively gain control of the network, then it would aim to become more decentralized over the years. As mining difficulty increases and new ASIC hardware gets developed, it would make it less possible for any average user to mine Bitcoin, thus making it more centralized each day. Nevertheless, I would like to know your opinion about this, as if BTC becomes centralized, it might cause it to decrease in value, and most of all, violate the principles that it was created for. Coins like BTC, TAU have a great privacy and security system. If Bitcoin is centralized, no doubt there will be a good decision making panel, however, privacy of traders will be at stake, therefore it is better to keep it decentralized. |
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ronaldo 1994
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May 29, 2018, 07:15:57 AM |
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How can bitcoin ever become centralized when its true concept and the idea it was built on is 100% decentralized? The fact that some whales control most of the supply does not make it centralized. Sooner or later, more and more people will own btc and split the supply between more and more people.
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ngano ba
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May 29, 2018, 07:22:03 AM |
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No ,bitcoin will not become centralized in the future , because the characteristics of bitcoin is decentralized away from ,government supervisions and monitoring, it works and circulate in the digital world independently , so bitcoin will not go to be centralized in the future to come.
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