What if Bitcoin was centralized?

[thenameisjay]

what do you think would happen to bitcoin economy if someone would actually take in control of it?

Supply and demand is controlled. Just like capitalism. Everything is controlled for the sake of profiteering. Bitcoins will now taxed the same way as money. The one who is in control of bitcoins will regulate everything from the very bitcoin we receive and give to other people.

[thomassaba]

what do you think would happen to bitcoin economy if someone would actually take in control of it?

will be very bad version of bank system which users not have full control of them accounts.

bitcoin is better now fee and can’t stopped

[selen]

someone like privat persons? - i would manipulate the market )

[Hobo66]

what do you think would happen to bitcoin economy if someone would actually take in control of it?

If bitcoin was centralized it would be a little better I think,
reason why is you can file complain on the organization that control bitcoin
to lower their cost on the transaction fees.

[AjithBtc]

If bitcoin becomes a centralized system, automatically the demand for the same gets declined. Because this will start functioning same as the banking services. The uniqueness will be lost. In reality such a situation won't exist making bitcoin to be a centralized asset same as gold and stocks.

[annbagira]

Hello ) Then it will be as traditional bank I am not sure about bitcoin on 100% I think he have some "controllers". Answer on your question then it will be usual think and traditional things.

[Zaarin]

if bitcoin was centralized then i guess it would have ups and down along along in the midst of the currency, if bitcoin was centralized i think that the economy would be shaped utterly differently, may be jobs would be exchange, i think that bitcoin along with has greater inadvertent of making the economy adjoin difficult and improved, because of bitcoin things would be utterly osscillate, and lastly bitcoin can be enormously valuable, and has the high flier to badly be poorly the economy of one's country.

[davinchi]

The first decentralized currency is soon to implement a contentious upgrade which fundamentally changes its direction from bitcoin cash to a bitcoin settlement network. A decision that may have ramifications for decades to come or it may amount to a storm in a tea cup. but does the way such decision was made suggest bitcoin has become centralized in the hands of a few people.

Yeah you are right and I also do not agree if bitcoin become centralized because now everyone can invest in bitcoin freely and then some people will dominate bitcoin network and it is not good. Then many people will withdraw their investment and the first will be me because I don’t like centralization of bitcoin at any cost. I want a free business and not the one which is hold by some people.

[ellabanana]

One unique characteristic of Bitcoin is that it is decentralized. So, if time comes and someone will be controlling it, then it will lose its purpose. It will end up being the same with our current currency.

[Sadum]

my response may be the bitcoin price will be unstable at the time it happens but i hope this will never happen ...

[bristlefront]

If bitcoin was centralized it will not reach its price today. The reason bitcoin becomes in-demand is because it is decentralized. Once it centralized, the people will turnover their investments before it is too late for them.

[dobladi]

what do you think would happen to bitcoin economy if someone would actually take in control of it?

I think it won't be as much as popular as it is now. Its decentralization is what makes it unique. Governments are not able to put tax on every transaction because of its blockchain technology and characteristic of being decentralized. But if it will be, I think it will be more secured the only thing that I am not sure if it will be still interesting.

[randal9]

what do you think would happen to bitcoin economy if someone would actually take in control of it?

I think it won't be as much as popular as it is now. Its decentralization is what makes it unique. Governments are not able to put tax on every transaction because of its blockchain technology and characteristic of being decentralized. But if it will be, I think it will be more secured the only thing that I am not sure if it will be still interesting.

I agree, decentralization is what makes bitcoin interesting...if it becomes centralized, many won't want to use it and for sure it will not be able to grow like that anymore, because it will be even more controlled

[eurodecent]

It would rid of the attributes of bitcoin that gives the appeal. Added taxes, more charges, and the control will make this restrictive. That will cause the disinterest of the people.

[regnidorhcs]

what do you think would happen to bitcoin economy if someone would actually take in control of it?

I think there would be less users and it will not be patronized that much if ever the owner or the handler is corrupt and it will cause trouble for sure knowing that most of the investors want fair profits. Time will surely come if ever bitcoin is centralized where every transactions made is taxed and exchange fees will surely be higher because they would take the opportunity to earn more through bitcoin.

[carodupuis]

what do you think would happen to bitcoin economy if someone would actually take in control of it?

Supply and demand is controlled. Just like capitalism. Everything is controlled for the sake of profiteering. Bitcoins will now taxed the same way as money. The one who is in control of bitcoins will regulate everything from the very bitcoin we receive and give to other people.

If bitcoin became centralized it will be just like state currency. State will regulate it. Can be collect taxes from that bitcoin. I think if bitcoin became centralized its economy will be crashed. No one can use it. It will be not more profitable because of its huge paying taxes and other a lot reason. It will effect bitcoin economy more. It will simply crashed the bitcoin economy unstable it. Bitcoin will be fall soon if it became centralized.

[zemb]

It seems to be impossible but if Bitcoin would have been centralized there must have been some regulations imposed on its use.All the transactions would have been under the supervision of the government. No more anonymity would have been there in the transactions.

[ufaiz50]

what do you think would happen to bitcoin economy if someone would actually take in control of it?

I think bitcoin prices will not be this high right now, most users like decentralized bitcoins and that's what keeps the bitcoin demand going up every year. If bitcoin is controlled by either a person or a government, bitcoin will become stable and only draw on the peer-to-peer sophistication is not even different from the bank.

[Asuspawer09]

what do you think would happen to bitcoin economy if someone would actually take in control of it?

I think even now it being centralized but not by a single person or any private holders. If this could happen, then there would be a massive change and a big impact to the whole economy of bitcoin. The value of it could have boundaries. They could imploy not to take a huge amount of it. But for somehow they could simply protect it and lengthen the possibility of losing bitcoin. Then, making bitcoi  centralized could give a disadvantage and somehow advantage on it.

[Xanxus024]

Well if bitcoin has centralized system I think it will not supported by people and the value of bitcoin is not the same as now so its not profitable anymore no one can get benefit and probably the one who can get benefit is the one who control bitcoin. It will also lead to corruption because there are always corrupt official in the government the fact that system become centralized I'm sure they put tax on it.