What if Bitcoin was centralized?

[bitbunnny]

If Bitcoin was centralized then it would probably functioning like any other currency and we wouldn't probably be here. It wouldn't be so successful and have so many users, it wouldn't represent anything new and progressive so I actualy don't see the point in such discussions that lead to nowhere.

[pixie85]

it would defeat the purpose of bitcoin

Yes, and people would leave it for some other coins. The reason Bitcoin is so popular is that nobody is in control. A country going down in debt won't affect it and no bank or government will be able to take it from you. They can fight it and mess with it but it will be a long and slow process unlike repossession, seizure and other legal actions they can do with your money.

[BCTBF]

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

I think bitcoin can be easily controlled by very rich people, rich people can easily dump and pump bitcoin prices, but they can control themselves and keep the bitcoin getting better. I guess the bitcoin will not be centralized.

[affigne]

To put it simply: there's no way it can be centralized (at all)

[Core.BUSTER]

What if some one take control of BTC? It means being Centralized, All transaction will be track together with identification and value will not increase or decrease like fiat money. No one will  invest on it, It will lose it character and investors, it will dump by many people holding on it. Centralization of bitcoin can lead to downfall of it.

I absolutely agree thag if bitcoin was being centralized all transaction will be track and it can be the reason to not increase thr price of bitcoin. I also think if bitcoin was centralized no one will invest in because some people will control their money and bitcoin. Lastly, I still agree that centralization of bitcoin can lead to downfall.

[Aleister Crowley]

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

I think bitcoin can be easily controlled by very rich people, rich people can easily dump and pump bitcoin prices, but they can control themselves and keep the bitcoin getting better. I guess the bitcoin will not be centralized.

bitcoin may not be centralized ,,. because some of the richwho may be able to control their bitcoin value will definitely lose if the bitcoin is centralized., some of their fortunes earned through bitcoin will end if this happens ,, maybe they will control the price to get better in each period. which makes us more profitable

[Despacito]

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

I think bitcoin can be easily controlled by very rich people, rich people can easily dump and pump bitcoin prices, but they can control themselves and keep the bitcoin getting better. I guess the bitcoin will not be centralized.

bitcoin may not be centralized ,,. because some of the richwho may be able to control their bitcoin value will definitely lose if the bitcoin is centralized., some of their fortunes earned through bitcoin will end if this happens ,, maybe they will control the price to get better in each period. which makes us more profitable

Bitcoin may be centralized by a manipulation of its code. But I don't think one can do this because it's an democratic environment with tons of participants. It will stay decentralized.

[giveen]

If it was centralised what wil be the use of investing in it there wouldn't be any difference between the currency we use currently and btc , in a situation like this i would prefer gold more than btc if it was centralised.
In a centralised currency the controller has the power to control the price directly or indirectly, the controller of the system will also know who has invested and how much funds he holds and with this it raises tax , proof of fund etc it wouldn't be anonymous anymore.

[Sullivan456]

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?

[lance04]

If bitcoin will be centralized it will be a great opportunity to the companies that using it as currency and to everyone to explore the new kind of trading.

[Dexion]

I am of the opinion that this is a good thing and if it happens then it is progress, so it will be organized and every country is able to operate and discipline bitcoin players ,,, but it is not easy ,, and I hope in every country give full permission to transaction bitcoin ,,

[Sweetbtc]

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

You and no one would use it. The only reason it's being touch right now is because of its semi decentralized nature. That is the single most gratifying thing about cryptocurrency. You take that away and you're going to destroy everything. People love bitcoin only for one reason and that is decentralization.

[Juggy777]

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

No Bitcoin cannot be centralized, it was designed to be decentralised, thanks to the founding father vision, he made it that way. Now if you are meaning to say can the government control it, it can't control the price, but it can put restrictions on its use like China recently did, or it can implement the way Japan did. That's only closest way to a centralized Bitcoin. Why would you use a centralized Bitcoin, it would kill the very function it was created for.

[sidmlm]

bitcoin is open source currency it's can't be centralized.

[Mr. Legendaris]

I'm sure this is the thing that does not make the user interested, when the centralization of course with easy price can be controlled whenever. so I think centralization is something that goes against the laws of the market.

[Ucy]

It will cease to be called a cryptocurrency and a new coin will take its place.
I noticed they have been working hard on centralizing it. I have a feeling that Bitcoin will continue to resist the attempts and be great.

[Mozdalifa17]

if bitcoin controlled by government or banks another coin will take the lead like ETH,WAVE,OINON ..etc, because what attract people in first place to use bitcoin is security and freedom to control your own money whenever , wherever you need it . but that will not happen anytime soon .

[adzino]

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

If bitcoin becomes centralized (which won't be happening anytime soon) it will loose one of its key main feature - decentralization. The market won't be the same anymore. Price is going to be much lower than it is. There wouldnt be much difference between normals fiat currency and those centralized Cryptos

[Ucy]

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

If bitcoin becomes centralized (which won't be happening anytime soon) it will loose one of its key main feature - decentralization. The market won't be the same anymore. Price is going to be much lower than it is. There wouldnt be much difference between normals fiat currency and those centralized Crypto

Exactly bro/sis. I'm sometimes surprised at attempts by some governments to create centralized "National currencies" and call them cryptocurrency.
They seem not to understand why Bitcoin is so successful.

National currencies that will most likely be manipulated, censored and centralized aren't Cryptocurrency at all.

[Shikaina]

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

It will be like fiat. The price would more stable but we would not have the freedom over it.