Is the bitcoin decentralized?

[denis1987221]

To begin with, I want to apologize for my English. This is Google translator I hope that the meaning will be clear.
Dear community. I wanted with your help to answer for yourself the following question: Is the bitcoin and the rest of the crypto currency decentralized so far? Decentralization is a state in which there is no single center. But we all know that most of the computing power, which in the majority is signed by the blocks, is concentrated in China (since almost all the computer technology associated with mining is produced there) and even in South Korea. And in fact the issue of accepting / not accepting SegWit is decided by the Chinese with the Koreans neighbors. All is well, but the zone of distribution of crypto-currency is not limited only to China and South Korea, what to do if there is some kind of prediction stone, and ordinary users of bitcoin will disagree with the miners on any issue, even scaling, what then? The answer is obvious, the owners will take the upper hand of pools ... again the question is whether Bitcoin is decentralized? thanks for answers

[Mandoy]

To begin with, I want to apologize for my English. This is Google translator I hope that the meaning will be clear.
Dear community. I wanted with your help to answer for yourself the following question: Is the bitcoin and the rest of the crypto currency decentralized so far? Decentralization is a state in which there is no single center. But we all know that most of the computing power, which in the majority is signed by the blocks, is concentrated in China (since almost all the computer technology associated with mining is produced there) and even in South Korea. And in fact the issue of accepting / not accepting SegWit is decided by the Chinese with the Koreans neighbors. All is well, but the zone of distribution of crypto-currency is not limited only to China and South Korea, what to do if there is some kind of prediction stone, and ordinary users of bitcoin will disagree with the miners on any issue, even scaling, what then? The answer is obvious, the owners will take the upper hand of pools ... again the question is whether Bitcoin is decentralized? thanks for answers

Bitcoin is really decentralized. Unlike traditional banks you do not have control over the money, the banks uses your money in their lending but does not give away to you their income from your money. In this centralized scene only the banks are benefiting from your money. Bitcoin and cryptocurrency on the other hand is not the same with the banks, here you become your own bank since you have control over your wallet. In cryptocurrency whatever gains you have from the increased profit you alone will benefit from it, it is yours to control and use. Compared to banks cryptocurrency is much better since you can even trade or invest it online.

[denis1987221]

To begin with, I want to apologize for my English. This is Google translator I hope that the meaning will be clear.
Dear community. I wanted with your help to answer for yourself the following question: Is the bitcoin and the rest of the crypto currency decentralized so far? Decentralization is a state in which there is no single center. But we all know that most of the computing power, which in the majority is signed by the blocks, is concentrated in China (since almost all the computer technology associated with mining is produced there) and even in South Korea. And in fact the issue of accepting / not accepting SegWit is decided by the Chinese with the Koreans neighbors. All is well, but the zone of distribution of crypto-currency is not limited only to China and South Korea, what to do if there is some kind of prediction stone, and ordinary users of bitcoin will disagree with the miners on any issue, even scaling, what then? The answer is obvious, the owners will take the upper hand of pools ... again the question is whether Bitcoin is decentralized? thanks for answers

Bitcoin is really decentralized. Unlike traditional banks you do not have control over the money, the banks uses your money in their lending but does not give away to you their income from your money. In this centralized scene only the banks are benefiting from your money. Bitcoin and cryptocurrency on the other hand is not the same with the banks, here you become your own bank since you have control over your wallet. In cryptocurrency whatever gains you have from the increased profit you alone will benefit from it, it is yours to control and use. Compared to banks cryptocurrency is much better since you can even trade or invest it online.

Probably this is all the difficulties of translation. I meant a little bit different - there is China, which owns more than 50 percent of the computing power, in my opinion this is the center? That is, decisions about any innovations are made by miners, and more of them are in China. Thank you.

[CryptonomyCapital]

Geographically more than 50% of power is in China, but it does not belong to one person or organization.

[iram1011]

To begin with, I want to apologize for my English. This is Google translator I hope that the meaning will be clear.
Dear community. I wanted with your help to answer for yourself the following question: Is the bitcoin and the rest of the crypto currency decentralized so far? Decentralization is a state in which there is no single center. But we all know that most of the computing power, which in the majority is signed by the blocks, is concentrated in China (since almost all the computer technology associated with mining is produced there) and even in South Korea. And in fact the issue of accepting / not accepting SegWit is decided by the Chinese with the Koreans neighbors. All is well, but the zone of distribution of crypto-currency is not limited only to China and South Korea, what to do if there is some kind of prediction stone, and ordinary users of bitcoin will disagree with the miners on any issue, even scaling, what then? The answer is obvious, the owners will take the upper hand of pools ... again the question is whether Bitcoin is decentralized? thanks for answers

Indeed Chinese mines comprise about 80+ percent of the world’s bitcoin processing power. But we shouldn't forget that even if they come from one country (because of cheap availability of chips and electricity), they don’t work for one enterprise and are not colluding. You can take an example of any two companies of a country providing same service. Those two companies doesn't work with each other but compete. So is the case with mining companies. The threat is only from the Chinese government. If Chinese government tries to regulate or ban mining companies. Then, we might be at risk.

[iamTom123]

I think this had been discussed in this forum before. I understand or rather we understand that decentralization is at the core of Bitcoin and if you delete or somehow dilute this feature then you just killed Bitcoin and took away its essence. Now having said that, the concern is that a big number of miners are located in just one country -- I am talking of China here. And since miners can be powerful this imbalance can put Bitcoin under the control of a group of people that can somehow chip away its decentralization feature.

We could not also blame why miners  decided to be based in China and it is the cheap electricity that is making the country attractive to Bitcoin mining. Had there been a way to reduce the electricity needs of mining then probably this concern will not be an issue because we could have mining distributed in many parts of the globe.

We all hope that there can be a way to counteract this situation.

[Star_Bucks]

To begin with, I want to apologize for my English. This is Google translator I hope that the meaning will be clear.
Dear community. I wanted with your help to answer for yourself the following question: Is the bitcoin and the rest of the crypto currency decentralized so far? Decentralization is a state in which there is no single center. But we all know that most of the computing power, which in the majority is signed by the blocks, is concentrated in China (since almost all the computer technology associated with mining is produced there) and even in South Korea. And in fact the issue of accepting / not accepting SegWit is decided by the Chinese with the Koreans neighbors. All is well, but the zone of distribution of crypto-currency is not limited only to China and South Korea, what to do if there is some kind of prediction stone, and ordinary users of bitcoin will disagree with the miners on any issue, even scaling, what then? The answer is obvious, the owners will take the upper hand of pools ... again the question is whether Bitcoin is decentralized? thanks for answers

I think it is. Due to the legalization of it from other countries which is not yet fully done. Bitcoin is indeed decentralize. Just like what we have here in my country. Bitcoin is very decentralized but still it is not legalized here although the exchange rate is very high.

[bassong]

It is decentralized, read the whitpaper.

[kryptqnick]

Geographically more than 50% of power is in China, but it does not belong to one person or organization.

Yes, that's what is really important.
I think the question is actually about what we call a decentralization. If we mean no center whatsoever, then btc is not decentralized, because there is a geographical center, as the op stated. If we mean people, then it is a lot more complicated. Say, we know that different big mining farms belong to different people. But do we know they are not in some treaty, or that they are public people who represent one giant who prefers to be in the shadow? I believe not, but we can't really prove it. At least, bitcoin is more decentralized than any fiat and probably than any cryptocurrency as well, because it has the biggest marketcap and community.

[denis1987221]

Geographically more than 50% of power is in China, but it does not belong to one person or organization.

Yes, that's what is really important.
I think the question is actually about what we call a decentralization. If we mean no center whatsoever, then btc is not decentralized, because there is a geographical center, as the op stated. If we mean people, then it is a lot more complicated. Say, we know that different big mining farms belong to different people. But do we know they are not in some treaty, or that they are public people who represent one giant who prefers to be in the shadow? I believe not, but we can't really prove it. At least, bitcoin is more decentralized than any fiat and probably than any cryptocurrency as well, because it has the biggest marketcap and community.

Your point of view to me is very pretty. I want to fully agree with you. I would not like to believe in some kind of conspiracy, but life is life. Only time will tell.

[denis1987221]

Well, since we have started here similar questions, I'll ask you something else. Who thinks what will be the reward to the miners after the last award block was signed into bitcoin?

[iram1011]

Well, since we have started here similar questions, I'll ask you something else. Who thinks what will be the reward to the miners after the last award block was signed into bitcoin?

This question have also been asked many a times on this forum. Offcourse, there wouldn't be any block reward after all the coins are mined. Miners would only have fees as a source of income. Fees definitely would surge at that time. But till 2140, mining would become quite affordable and hence it wouldn't cost much to miners. Thus, fees will not become unaffordable.

[masterchief001]

To begin with, I want to apologize for my English. This is Google translator I hope that the meaning will be clear.
Dear community. I wanted with your help to answer for yourself the following question: Is the bitcoin and the rest of the crypto currency decentralized so far? Decentralization is a state in which there is no single center. But we all know that most of the computing power, which in the majority is signed by the blocks, is concentrated in China (since almost all the computer technology associated with mining is produced there) and even in South Korea. And in fact the issue of accepting / not accepting SegWit is decided by the Chinese with the Koreans neighbors. All is well, but the zone of distribution of crypto-currency is not limited only to China and South Korea, what to do if there is some kind of prediction stone, and ordinary users of bitcoin will disagree with the miners on any issue, even scaling, what then? The answer is obvious, the owners will take the upper hand of pools ... again the question is whether Bitcoin is decentralized? thanks for answers

Bitcoin is really decentralized. Unlike traditional banks you do not have control over the money, the banks uses your money in their lending but does not give away to you their income from your money. In this centralized scene only the banks are benefiting from your money. Bitcoin and cryptocurrency on the other hand is not the same with the banks, here you become your own bank since you have control over your wallet. In cryptocurrency whatever gains you have from the increased profit you alone will benefit from it, it is yours to control and use. Compared to banks cryptocurrency is much better since you can even trade or invest it online.

Probably this is all the difficulties of translation. I meant a little bit different - there is China, which owns more than 50 percent of the computing power, in my opinion this is the center? That is, decisions about any innovations are made by miners, and more of them are in China. Thank you.

Although the Chinese holds 50% of the power, however, it is neither centralized nor owned by any organization, it is evenly distributed, so bitcoin really decentralizes.

[Wind_FURY]

To begin with, I want to apologize for my English. This is Google translator I hope that the meaning will be clear.
Dear community. I wanted with your help to answer for yourself the following question: Is the bitcoin and the rest of the crypto currency decentralized so far? Decentralization is a state in which there is no single center. But we all know that most of the computing power, which in the majority is signed by the blocks, is concentrated in China (since almost all the computer technology associated with mining is produced there) and even in South Korea. And in fact the issue of accepting / not accepting SegWit is decided by the Chinese with the Koreans neighbors. All is well, but the zone of distribution of crypto-currency is not limited only to China and South Korea, what to do if there is some kind of prediction stone, and ordinary users of bitcoin will disagree with the miners on any issue, even scaling, what then? The answer is obvious, the owners will take the upper hand of pools ... again the question is whether Bitcoin is decentralized? thanks for answers

Bitcoin is really decentralized.

No, Bitcoin is not "really" decentralized. Not the way it used too. With mining pools and the manufacture of Asics, Bitcoin is slowly becoming more like an oligarchy. The politics in the scalability debate is a confirmation of this.

[Qunenin]

That is a fun question. Six months ago or more, if you had a wallet on your computer and I had a wallet on my computer, and all we ever did was trade Bitcoin back and forth between those two wallets, then what we were doing was 100% decentralized. The fact was that our business between our two wallets was not controlled in any way buy any 'Central' unit. However, if some of the Bitcoin I sent to you you sent to an exchange, did the decentralized concept started to die. It wasn't a big way, simply the fact that website owners had to use databases, software, and other things that were not part of the Bitcoin core. This is the smallest level of decentralization.

[streazight]

It is decentralized, read the whitpaper.

There is no solid reason for questioning the decentralized nature of bitcoins. Everyone knows that they are highly decentralized and that’s the reason, many states are reluctant to make bitcoins legal currency. Bitcoins offer complete liberty and independence to people over their possessions whereas all other currencies are centralized and people are bound to pay high taxes to enjoy their own money.

[Bitforking]

To begin with, I want to apologize for my English. This is Google translator I hope that the meaning will be clear.
Dear community. I wanted with your help to answer for yourself the following question: Is the bitcoin and the rest of the crypto currency decentralized so far? Decentralization is a state in which there is no single center. But we all know that most of the computing power, which in the majority is signed by the blocks, is concentrated in China (since almost all the computer technology associated with mining is produced there) and even in South Korea. And in fact the issue of accepting / not accepting SegWit is decided by the Chinese with the Koreans neighbors. All is well, but the zone of distribution of crypto-currency is not limited only to China and South Korea, what to do if there is some kind of prediction stone, and ordinary users of bitcoin will disagree with the miners on any issue, even scaling, what then? The answer is obvious, the owners will take the upper hand of pools ... again the question is whether Bitcoin is decentralized? thanks for answers

Bitcoin is really decentralized.

No, Bitcoin is not "really" decentralized. Not the way it used too. With mining pools and the manufacture of Asics, Bitcoin is slowly becoming more like an oligarchy. The politics in the scalability debate is a confirmation of this.

decentralised?  may only exist in the planets in the universe.

bitcoin is controlled by software developers, they just decided to split your digital coin into two. called half penny😂

[Pejoh Asu]

To begin with, I want to apologize for my English. This is Google translator I hope that the meaning will be clear.
Dear community. I wanted with your help to answer for yourself the following question: Is the bitcoin and the rest of the crypto currency decentralized so far? Decentralization is a state in which there is no single center. But we all know that most of the computing power, which in the majority is signed by the blocks, is concentrated in China (since almost all the computer technology associated with mining is produced there) and even in South Korea. And in fact the issue of accepting / not accepting SegWit is decided by the Chinese with the Koreans neighbors. All is well, but the zone of distribution of crypto-currency is not limited only to China and South Korea, what to do if there is some kind of prediction stone, and ordinary users of bitcoin will disagree with the miners on any issue, even scaling, what then? The answer is obvious, the owners will take the upper hand of pools ... again the question is whether Bitcoin is decentralized? thanks for answers

Bitcoin is really decentralized.

No, Bitcoin is not "really" decentralized. Not the way it used too. With mining pools and the manufacture of Asics, Bitcoin is slowly becoming more like an oligarchy. The politics in the scalability debate is a confirmation of this.

Yes, I agree, if pure decentralization of course bitcoin will not be like this, it seems that bitcoin prices are easy to be controlled by some people or groups so that they can control the price.

[Dudeperfect]

Yes, the core essence of Bitcoin is decentralized, anyone can come up and set up a mining equipment but since not everyone is interested in mining, you might see that there are limited miners as compared to that of a number of bitcoin users. The value is stored in the satoshi and if you hold even if a single satoshi in your wallet then you are a sole owner of it and no one can take it from you.

[mammabitcoin2u]

To begin with, I want to apologize for my English. This is Google translator I hope that the meaning will be clear.
Dear community. I wanted with your help to answer for yourself the following question: Is the bitcoin and the rest of the crypto currency decentralized so far? Decentralization is a state in which there is no single center. But we all know that most of the computing power, which in the majority is signed by the blocks, is concentrated in China (since almost all the computer technology associated with mining is produced there) and even in South Korea. And in fact the issue of accepting / not accepting SegWit is decided by the Chinese with the Koreans neighbors. All is well, but the zone of distribution of crypto-currency is not limited only to China and South Korea, what to do if there is some kind of prediction stone, and ordinary users of bitcoin will disagree with the miners on any issue, even scaling, what then? The answer is obvious, the owners will take the upper hand of pools ... again the question is whether Bitcoin is decentralized? thanks for answers

Bitcoin is really decentralized.

No, Bitcoin is not "really" decentralized. Not the way it used too. With mining pools and the manufacture of Asics, Bitcoin is slowly becoming more like an oligarchy. The politics in the scalability debate is a confirmation of this.

Couldn't agree with you more! It's still riding on what it was people not wanting to be obliged to big banks. But I say banks involved all along and slowly showing their face.

How long til miners drop out? Or get pushed out because of fees?

I see that Antpool/Bitmain rest of their cos own the biggest share. When btc breaks into 2 they will offer mines more just til the other is "bankrupt" no or hardly any miners left.

China n India (getting smarter) with their population combined equals half of the globe.

I gotta learn Mandarin or Hindu