Barbara Onio
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August 23, 2018, 04:10:27 PM |
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If bitcoin becomes focused, expect it to be managed by a good organization. Don't for personal benefit that bitcoin price
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The block chain is the main innovation of Bitcoin. It is the
first distributed timestamping system.
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Salvo Mazzanti
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August 23, 2018, 04:33:15 PM |
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If bitcoin becomes focused, expect it to be managed by a good organization. Don't for personal benefit that bitcoin price
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Osaaah
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August 23, 2018, 04:34:19 PM |
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Truth be told, the chances of Bitcoin becoming centralized in the near future is highly inevitable. If the above allegation is true it suggests bitcoin is vulnerable to market manipulation not just by traders who hold large stores of bitcoin, but also by miners like Bitmain and others in china.
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justhh
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August 23, 2018, 04:34:35 PM |
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As with any new technology, Bitcoin gives rise to some interesting – and in some cases entirely new things.
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Salvo Mazzanti
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August 23, 2018, 04:45:45 PM |
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If bitcoin becomes focused, expect it to be managed by a good organization. Don't for personal benefit that bitcoin price
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ir.yance
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August 23, 2018, 05:03:34 PM |
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I don't think bitcoin will be centered someday because all countries mine bitcoin and trade bitcoin. in my mind now that bitcoin in the future will be more expensive when all countries have used bitcoin to trade, mine and for payment.
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Minerall
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August 25, 2018, 03:58:52 PM |
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Anything is a possibility in the Cryptocurrency market. For Bitcoin to become a centralized system, the banks will have to be involved. And if the banks get involved, people will be very cautious as majority of the investors don't trust banks. What are your opinions about the whole centralized debate?
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kemonojim
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August 25, 2018, 04:04:20 PM |
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I don't think that bitcoin will change its nature and become centralized. High security, transparency and trust are the three main advantages of blockchain and bitcoin. And all this is provided by decentralization. However, confrontation between a centralized system and bitcoin is unlikely to disappear.
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Tunapress
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August 25, 2018, 04:42:37 PM |
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Blockchain, the technology underpinning it, cannot be centralized. Bitcoin in a way already is. Centralized exchanges are how 99% of people trade their cryptocurrency, and they can be forced to accept regulation or be shut down. The only way to truly and permanently decentralize Bitcoin is by setting up decentralized marketplaces…and it is already being done.
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supremacy10
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August 25, 2018, 04:46:21 PM |
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It is possible so as to curb the issue of embezzlement , using it to finance terrorism and others social vices , it will also expand the usage and let more countries adopt it as a medium of payment
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jhonnydeep87
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August 26, 2018, 12:12:39 AM |
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At a time when bitcoin is becoming a centralized system as we know today bitcoin is decentralized with many countries or governments with this system. It might be possible to later make bitcoin legally in many countries turn into a centralized system.  |
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Buzhou
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August 26, 2018, 12:21:19 AM |
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For many, mining hash control is a meaning of centralization!
But in fact, this does not apply according to the valorization of the BTC, many whales are seduced to exchange for fiat.
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iMark
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August 26, 2018, 01:59:54 AM |
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At a time when bitcoin is becoming a centralized system as we know today bitcoin is decentralized with many countries or governments with this system. It might be possible to later make bitcoin legally in many countries turn into a centralized system. Yeah that might happen but the government will not change the centralized system into an internal blockchain or bitcoin system, because that won't work. the government will do that by using an exchange or wallet to request data verification like id card |
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Abiky (OP)
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www.Crypto.Games: Multiple coins, multiple games
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August 28, 2018, 06:31:30 PM |
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I don't think bitcoin will be centered someday because all countries mine bitcoin and trade bitcoin. in my mind now that bitcoin in the future will be more expensive when all countries have used bitcoin to trade, mine and for payment.
Probably it won't. However, if there's interest from governments and banks worldwide to destroy Bitcoin, then they'll try to centralize it by manipulating companies which produce ASIC hardware (such as Bitmain). Since there's a monopoly over the mining process of Bitcoin, the company responsible (Bitmain) could adhere to the government's interest. As such, if China pressures Bitmain to effectively destroy Bitcoin by performing a 51% attack, then the pioneer cryptocurrency will become centralized and doomed for good. That's the only concern many Bitcoin enthusiasts like me have, as mining is not accessible to anyone in an equative manner. Perhaps, in the future, if developers and the community see the centralization of mining as a threat, they could come up with solutions to maintain the pioneer cryptocurrency as decentralized as possible. It could either be a change in the PoW algorithm, or simply make a switch to PoS (like Ethereum). When this is done, then Bitmain's monopoly would be destroyed for good. Unless other ASIC hardware manufacturers come up with better specs while reducing energy consumption, Bitmain will remain in the lead unfortunately. There needs to be a competitive environment where every mining company has a share in Bitcoin's hashrate to reduce the risk of centralization over the long term. Nevertheless, everything will depend on whenever devs and the community would want to keep the current PoW algorithm to preserve decentralization or not. Just my thoughts  |
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kamoto
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August 28, 2018, 07:02:09 PM |
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No, this can not be. Bitcoin can not be made centralized ... it will not be bitcoin anymore. I admit that the bitcoin may not be able to break out into the masses ... and then I do not believe that this will happen, but it is possible. However, it is exactly bitcoin that is centralized ... it is impossible
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Abiky (OP)
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www.Crypto.Games: Multiple coins, multiple games
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August 31, 2018, 01:59:16 AM |
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No, this can not be. Bitcoin can not be made centralized ... it will not be bitcoin anymore. I admit that the bitcoin may not be able to break out into the masses ... and then I do not believe that this will happen, but it is possible. However, it is exactly bitcoin that is centralized ... it is impossible
There's nothing stopping Bitmain from centralizing Bitcoin anytime soon. Slowly but surely, Bitmain has been having a negative influence over the pioneer cryptocurrency's hashrate. This becomes worse when no other ASIC hardware manufacturer could outpace Bitmain in terms of energy efficiency and performance. By effectively creating a monopoly over Bitcoin's mining process with pools being centralized, there's a huge probability that Bitcoin would become a centralized cryptocurrency in the future. Developers and the community would need to work together to stop this from becoming a reality or else it will be too late for the world's biggest cryptocurrency in market cap. Nevertheless, I believe that is in the people's interest to keep Bitcoin as decentralized as possible. However, only time will tell us what lies ahead with the longevity of the most prominent cryptocurrency in existence to date. Just my thoughts |
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goldSkylark
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August 31, 2018, 02:47:05 AM |
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One of the best features of bitcoin is its decentralized nature. Making it centralized will only undermine its capacity to totally reshape our financial structure. Maybe we can still maintain its decentralization while still having a few regulations? Not about having the government have full control. But more like laws or policies that will protect users. What do you think?
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FreeSpaceLoss
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August 31, 2018, 03:27:55 AM |
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on the off chance that it happens I think the individual who needs to btc is focused, he needs to work additional hard regardless of how hard the present mine will be troublesome likewise for them to control it, I figure btc will adhere to its definitive objective without interfering with third individual
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ayambawang
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August 31, 2018, 03:46:04 AM |
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I hope it is just as though it were thought, in fact I hope that no country or institution will be central or central, just as in cash that makes the dollar a reference, it will be very detrimental to price controls and even market games. detrimental to its users, so if that happens then our struggle to grow btc is useless, because it has deviated far from the original purpose of btc
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Fred3030
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August 31, 2018, 03:53:15 AM |
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In my own opinion, the centralization of bitcoin means an introduction of a third party in transactions and an interference of the protocol upon which bitcoin was built. Let's ask ourself what makes bitcoin thick? It is its privacy and absence of any form of third party in its transaction. Centralization takes of the p2p characteristics of bitcoin, hence defeating its purpose.
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