Will Bitcoin become centralized sometime in the future?

[BossRoss89]

The very expression "centralized Bitcoin" sounds like an oxymoron to me. Decentralization was the underlying idea of the entire system, wasn't it? So, cannot be centralized because it contradicts its nature.
Should it get centralized, it would mean the system is dead...

[1714674072]

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[UniQue7]

It has to already since it's already big enough and a lot of sites are accepting it as currency now.

[helen28]

The very expression "centralized Bitcoin" sounds like an oxymoron to me. Decentralization was the underlying idea of the entire system, wasn't it? So, cannot be centralized because it contradicts its nature.
Should it get centralized, it would mean the system is dead...

We don't know exactly what will happen to cryptocurrency in the future as it is hard to tell but we are all aiming that cryptocurrency should be known worldwide and we are all aiming for that to happen and when that happens for sure centralization will take place.

[GeorgiyBilyk]

Now in the whole world there is a very large regulation of the entire crypto market! I'm sure that there will soon be maximum regulation of the crypto world, but at least will very seriously control the appearance of new coins and new projects! now a very large number of companies turned out to be scammers! A large number of companies have left money collection, due to state regulation and registration! We need regulation of the crypto world, because it will help to develop more in the whole world!

[DunnDy]

I have concerns about the fact that Bitcoin is already becoming centralized. I would call it at least the narrowing of this freedom and the decentralization that it has had so far. More and more units operating in the Bitcoin structures are starting to be responsible for certain parts of the transaction, which makes an indispensable impression that we are seeking centralization. Let's try to avoid this because if we go on like this, we will deprive Bitcoin of its biggest advantages.

[yoseph]

It has to already since it's already big enough and a lot of sites are accepting it as currency now.

Centralized means that it is the total control of a person or an institution. But I don’t think it’s goij to be like that at all unless they find someway to change the source code of the technology behind the currency.

[javadsalehi]

It has to already since it's already big enough and a lot of sites are accepting it as currency now.

Centralized means that it is the total control of a person or an institution. But I don’t think it’s goij to be like that at all unless they find someway to change the source code of the technology behind the currency.

The source cannot be changed. Bitcoin will always work same as today. But the governments can create a new cryptocurrency and try to encourage people to invest in that instead of bitcoin or other decentralized cryptocurrencies.

[Pinkris128]

Bitcoin is made on the Blockchain decentralized technology and that is why Bitcoin go too much popularity in the digital world, I think the concept of centralized sometime in future is wrong it will be same as decentralized in future,

I think your wrong once bitcoin was accepted by all the government it has a big possibility that it will be centralized. It still depend on the situation with the fact that there are already government who support bitcoin. But hopefully when it happen they wont be greedy and will manage the cryptocurrency well.

[kimpena]

Logically it can not, because the bitcoins themselves are created decentralized. Creating centralization takes a lot of effort and effort in my opinion, besides you have to manage all the bitcoins you also have to have all the bitcoin in circulation right now.

YEs it was not easy to male bitcoin centralized but it has a possibility to happen if people will push it and make an action. But for me it was fine that it was decentralized because no one can manage or control the prcie of it. We are now dar from greedy person who only think of theirselves because no one handles it.

[anisoptera]

it is becoming regulated on a lot of countries, and the centralization from some coins is already happening, so i would really doubt that it will be a non-decentralized currency in a near future (if it ever gets no regulated) so lets wait to see what happens

[P60]

it is becoming regulated on a lot of countries, and the centralization from some coins is already happening, so i would really doubt that it will be a non-decentralized currency in a near future (if it ever gets no regulated) so lets wait to see what happens

I agree with you, I have a positive feeing that in the near future, bitcoin would be centratralized. It is capable and has a big potential to be.

[Polkadott]

maybe bitcoin will be the first online transaction center in the world and will always be the best asset to invest and I think bitcoin is central and popular in the world, although there are some countries that do not like bitcoin. Already many people in this world who use bitcoin and some developing countries have received bitcoin

[luckyluigi]

Bitcoin was conceived as a completely decentralized cryptography. Therefore, any changes that affect its decentralization are unacceptable. If it is at least partially centralized, it will not be a bitcoin. It should work separately from all governments.

[gamersarap]

Decentralization is one of the peculiarities of bitcoin, because Bitcoin is a crypto currency that is a decentralized currency that can be operated around the world without any controlling authority if it is a centralized way that will take control of the bitcoin world. In such circumstances it will changing the concept of bitcoin originality intention.

[Robin1020]

Bitcoin will never be a decentralized digital currency since it is made to be decentralized. That is the reason why a lot of people are attracted to Digital currency since it is decentralized, and yes mostly because of the volatility. I think that will be really devastating seeing Bitcoin as a Centralized digital currency and I think the volatility in there will be lost also.True, Bitcoin as a decentralized currency will be a centralized digital currency because it will be the number one digital currency worldwide with the most holders. In my opinion.

[Abiky]

it is becoming regulated on a lot of countries, and the centralization from some coins is already happening, so i would really doubt that it will be a non-decentralized currency in a near future (if it ever gets no regulated) so lets wait to see what happens

That's certainly true, mate. Bitcoin is becoming more regulated on diverse countries as time passes by. However, even if regulations are imposed to help prevent illegal activity, they won't affect Bitcoin's level of decentralization whatsoever. The real threat to Bitcoin's decentralization is the mining process where a single entity or company called Bitmain controls most of the network's hashrate. Many people don't care about this, because they're not looking into the technical aspects of Bitcoin, but they rather see Bitcoin as a tool to make money in the long term.

Once the real consequences of a 51% attack are witnessed, then it'll be too late since the Bitcoin network can become manipulated at will. That's why, I believe in ASIC-resistant mining algorithms since they allow anyone to mine cryptocurrencies with highly accessible hardware such as GPUs and CPUs. This approach is far more decentralized, IMO and I believe that Bitcoin needs to do the same to prevent the huge centralization inherent within big mining pools.

Therefore, in all means, there exists a huge possibility of Bitcoin becoming centralized in the future, and only time will tell us what will really happen with it. Just my opinion

[Verde_Mantis]

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.

How do you know that is partially controlled by Chinese miners? Every time I read some news about mining, price, exchange etc 99% of the cases mention Chinese. And the majority of the time after some months/year we find out that Chinese have nothing to do or have a minimal impact of this or that situation. They're becoming like something mythological...

[jakedeez]

If bitcoin become centralized not only government can easily destroy it but also users anonymity will be gone as more information would be needed. Centralization would not allow bitcoin to grow better. The reason is that controlling authority always aims at more and more profit, which affects the common users. To eliminate this bitcoin needs to continue as a decentralized currency.

I agree with you about the centralized currency in the future was a bitcoin and other coins. Government and politics are corrupted inside every country. They want to feel part of our money for nothing.

[sborders52567]

BITCOIN is a decentralized currenvy right from the start and I bet everyone is awared of that information. Being centralized also refers to being controlled by the government such as beibg taxed or regulated and since Bitcoin is an open source system I highly doubt that it is possible to happen.

[rawr1620]

At the moment i really enjoy bitcoin being decentralized but its a more selfish opinion because for me it helps that it is decentralized that i can earn more here.