Koobtcgal
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August 12, 2018, 11:50:03 PM |
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I foresee bitcoin being centralized in sometime to come. There are a lot of people working on decentralization of bitcoin and crypto in general, binance, one of the biggest crypto exchange announced a beta decentralized exchanged. The problem is that people are still thinking about how the whole crypto business can shut down in just a day or two. So everyone is vigilant. Centralizing bitcoin will get more people into the bitcoin world as they have and know where to go in case of any scam issues.
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"In a nutshell, the network works like a distributed
timestamp server, stamping the first transaction to spend a coin. It
takes advantage of the nature of information being easy to spread but
hard to stifle." -- Satoshi
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Jihuny23
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August 13, 2018, 05:35:20 AM |
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I think that bitcoin is very likely to turn into a centralized system in the future. There is nothing impossible in this world. Indeed I also think that in the future bitcoin must change the system to become centralized if bitcoin wants to maintain its function as a currency. This is to maintain the stability of bitcoin prices. But if bitcoin only accepts its function as an investment then the decentralized system is not a problem. That is a bit of my opinion.
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Javak
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August 17, 2018, 12:11:31 AM |
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The file is already exists at a point or only in the bitcoin of the edge of the given by the rules that will be applied on allwhere
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pushups44
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August 17, 2018, 12:17:11 AM |
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I am also concerned about increasing mining centralization by Bitmain, so hopefully the community can figure out a solution to this problem. As for the debates about the Lightning Network: no cryptocurrency can ever be fully decentralized. Debates about scaling were plainly inevitable based on the particular method that undermines decentralization.
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Asusnumbaone
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August 17, 2018, 04:08:42 AM |
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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.  Bitcoin as centralization in the future is possible because the last age of human is technology then Bitcoin is from our technology for long time technology will always changing snd brcome advance and I think bitcoin will be advance for a meantime and I think for the future the Bitcoin is helpful to us because you cannot use paper money and bitcoin is convenient you can earn it by using your phone |
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lekleklek
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August 17, 2018, 04:59:29 AM |
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The only real points of centralization right now are via mining. Hopefully we can sort that out soon.
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NarutoTan180
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August 17, 2018, 06:01:58 AM |
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This is probably going to happen when the reward for the discovered square is just the exchange expense. At that point, numerous mineworkers as a result of the weaknesses will never again mine.
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Fred3030
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August 17, 2018, 06:51:07 AM |
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The bitcoin algorithm was not built to be centralized. What do we think will happen if it becomes centralized? Don't we think the purpose behind the creation of bitcoin become defeated?. Bitcoin decentralized nature is what makes bitcoin special and free from a third party interference. Bitcoin in my own opinion can't be centralized, in fact, will not be centralized.
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Otsu
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August 17, 2018, 06:54:22 AM |
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In my own thoughts, there is a chance that it could become centralized sinced no one can predict the future and a lot of people now are engaging with this and it is very popular now in the world. But perhaps it needs a lot of works and a lot of changes will be done before it could be happen because people are still confused who truly managed bitcoins.
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Sexie
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August 17, 2018, 07:49:59 AM |
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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. Not sure anyways. Bitcoin I think Will never become centralized. It Will always be decentralized. The situation is that in every blocked many people owns it. In every single blocked many companies have using it and so many members onto it anonymously . So How to become centralized when the features is decentralized? I think a lot of processing by talking millions of people around the world who are adopting Bitcoin. |
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rasmadisulaiman
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August 17, 2018, 08:48:02 AM |
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I think bitcoin cannot be centralized in the future, bitcoin will fluctuate and will be centered by people who invest there depending on the market. I am more worried about the absence of the Internet and cannot trade.
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brotherwood12
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August 17, 2018, 08:59:38 AM |
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i think not , IMO . Because if that happens the Unique of bitcoin will lose and bitcoin will become common currency and will lose interest of it
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Sircoss
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August 17, 2018, 11:33:16 AM |
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I don't think that this is possible to be, but I do think that government and political figures will be trying to make that happen to take control over Bitcoin, which would be easier to do in that case.
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arienna23
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August 17, 2018, 01:34:07 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 centralization will not going to happen because of conflict of interest. Nobody will give way and cooperate with this kind of idea. As long as everyone will keep and hold their bitcoin, centralization is not possible. |
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Neera Gallo
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August 20, 2018, 06:00:14 PM |
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The basis of blockchain and bitcoin is decentralized platform. I hope that Bitcoin will always remain decentralized
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Neera Gallo
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August 21, 2018, 05:07:24 PM |
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The bais ò blockchain and bitcoin í decentralized platform. I hope that Bitcoin will always remain dêcntralized
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Abiky (OP)
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August 21, 2018, 06:23:44 PM |
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I think centralization will not going to happen because of conflict of interest. Nobody will give way and cooperate with this kind of idea. As long as everyone will keep and hold their bitcoin, centralization is not possible.
Probably. However, if big corporations like Bitmain sees a huge opportunity of doubling or even tripling their money with Bitcoin, then they'll do whatever it is to make Bitcoin centralized. I'm sure that many people won't allow this to happen since they prefer Bitcoin to remain decentralized and free from middleman just like Satoshi intended it to be. It will all depend if a consensus is reached whenever to further decentralize Bitcoin or turn it into a centralized banking system like fiat. Hopefully, with the emergence of new ASIC hardware manufacturers, Bitmain's monopoly would be no more as decentralization is improved. For the benefit of all, Bitcoin should remain as decentralized as possible for years to come. In the future, Bitcoin could remain decentralized if the community and development team work together to make it that way. All the way around it, if Bitcoin fails to achieve decentralization, then it'll be doomed, IMO. Just my thoughts  |
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Barbara Onio
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August 23, 2018, 03:51:37 PM |
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Most governments do not consider the MOF to be an asset, so it is difficult for banks to accept bitcoin deposits.
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cxmyifan16
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The Premier Digital Asset Management Ecosystem
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August 23, 2018, 03:57:35 PM |
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I don't think that this will happen soon but in the future this is possible. to my mind, this is the best way to control currency for the government i mean making it centralized which I don't consider the best solution
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Barbara Onio
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August 23, 2018, 04:03:13 PM |
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I think it is very difficult for a bank to accept Bitcoin as a deposit.
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