balakang00
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December 07, 2017, 10:59:33 AM |
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Personally, I think bitcoin being centralized has advantages and disadvantages. The good effect is that something will take control of the system. It would be of a great help for someone to organize bitcoin. It will be more organized and managed appropriately. However, bitcoin being centralized can give the power to that person to control everything and use it for crime or anything like that. It will depend on the person holding or taking care of the system which way it will go.
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JTASSOCIATES
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December 07, 2017, 11:04:29 AM |
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First you have to clear yourself that bitcoin's concept is independent currency which should not control by any single company or any government. Cryptocurrency is the only currency which give this world's people to live without any pressure and fees to be imposed on them.
So I strongly believe bitcoin wont be centralized and will not controlled by anybody.
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AltcoinAuthority
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December 11, 2017, 09:47:11 PM |
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One of best features bitcoin has is being a decentralized system. If it is centralized, it will not be as popular as it is today.
If Bitcoin was centralized then there wouldn't be that many people wanting to use it, that will break Bitcoin since it won't get spent. |
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zombie6
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December 12, 2017, 10:33:58 AM |
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the whole point would be lost) it would not be bitcoin! you would never know about him! he has the greatest decentralization
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bitfocus
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December 12, 2017, 11:51:31 AM |
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When the total concept of Bitcoin is the De-Centralization, what makes you think that Bitcoin could ever be Centralized?
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Bruno77
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December 18, 2017, 05:54:11 AM |
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If bitcoin will be centralized, the idea of inventing bitcoin will be a waste because bitcoin was discovered or I might say invented for the concept of decentralized. There will be a middleman which is the government that will put their presence by adding transaction fee instead of having the exact amount of the product and/or services you want to avail... The idea of bitcoin is to have the trading by peer-to-peer and there will be no other to act as middleman.
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akram143
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December 18, 2017, 06:08:48 AM |
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If bitcoin was centralized then it will also have the same properties of fiat currency so people will lose interest on bitcoin and it the value of bitcoin will fall soon after it was centralized. But you know,no one can take control of this bitcoin so it can never be centralized so bitcoin will be bitcoin always.  |
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Yarsk
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December 18, 2017, 06:25:32 AM |
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It is not possible for bitcoin to be centralized because the idea behind bitcoin is to created a free currency not under the control of any one. But let say if that happen and bitcoin is centralized you will Biggin to see policies and programs that the authority will come up with that alone will be the point bitcoin will start failing in everything.
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snipetr
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December 18, 2017, 06:43:39 AM |
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Firstly bit is not possible to centralization of bitcoin. And in case if it happen then bitcoin market will crash, all transactions wiil be taxable, governments of different countries try to control over it by there way and mining, payment syste, trading and investment of bitcoin controlled by every government by there regulations.
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kiver
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December 18, 2017, 07:11:11 AM |
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one of the first founding ideas about bitcoin was to be decentralized but i like your idea but not about bitcoin itself i mean what if we could make a good use of this technology by creating a money which has no physical form just like crypto currency work i think it will be better than fiat currencies more efficient and that's what i hope it will happen
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BlackRacerX
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December 18, 2017, 08:37:49 AM |
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what do you think would happen to bitcoin economy if someone would actually take in control of it?
Then bitcoins would be controlled. The prices of each bitcoin won't reach economical heights and won't be as profitable as compared to today's profits from bitcoins. However, bitcoin prices will be made more stable by anyone controlling it. The rate of how much bitcoins go out will be very skimp and bitcoins coming in will be controlled as well. |
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J Gambler
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December 18, 2017, 08:40:33 AM |
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what do you think would happen to bitcoin economy if someone would actually take in control of it?
if bitcoin would be centralized then I think that its prices would not be higher on what t is now and it would be regulated by the cou tries and major governments around the world. PLus it would have a much kore significant value than what it is now i think |
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jech1028
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December 18, 2017, 08:41:26 AM |
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With the Bitcoin price so volatile everyone is curious. Bitcoin, the category creator of blockchain technology, is the World Wide Ledger yet extremely complicated and no one definition fully encapsulates it. By analogy it is like being able to send a gold coin via email. It is a consensus network that enables a new payment system and a completely digital money.
It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. Bitcoin was the first practical implementation and is currently the most prominent triple entry bookkeeping system in existence.
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aray80
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December 19, 2017, 06:36:33 AM |
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I think if bitcoin is already centralized then it will be taxed ownership, by the government in our country ...
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Markzuckertion
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December 19, 2017, 06:41:41 AM |
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what do you think would happen to bitcoin economy if someone would actually take in control of it?
It is not good, it will makes bitcoin is just the same with fiat. There is will no special thing except bitcoin is digital currency and people will not use it as investment. Centralization is not always good. |
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rhamzter
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December 19, 2017, 06:55:13 AM |
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Personally, I think bitcoin being centralized has advantages and disadvantages. The good effect is that something will take control of the system. It would be of a great help for someone to organize bitcoin. It will be more organized and managed appropriately. However, bitcoin being centralized can give the power to that person to control everything and use it for crime or anything like that. It will depend on the person holding or taking care of the system which way it will go.
Correct, for now in my sight the advantages of being centralized of this coin are they used in every nation with legalization and it was possibly used as cash in any part of the world. They move smoothly in the community since the bitcoin and other cryptocurrencies are legal. However the bad effect of centralization of the coin is taxes imposed by the government, additionally they were need to followed regarding money policy of each country. |
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MisterPrada
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December 19, 2017, 07:14:20 AM |
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Something which suggests the currency has become centralized in many ways. Far more than some other coins, like ethereum, where soft-fork upgrades are not possible due to attack vectors, leaving hard-forks as the only option.
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Ilegendph
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Thinking on the higher plane of existence.
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December 19, 2017, 07:51:58 AM |
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what do you think would happen to bitcoin economy if someone would actually take in control of it?
For me bitcoin would not be as famous as it now if that happens. Users choose bitcoin because of this one important features and it is the main reason for its high volatility that attracts investors and also gamblers. |
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almighty_lama2
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December 19, 2017, 07:53:21 AM |
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what do you think would happen to bitcoin economy if someone would actually take in control of it?
If btc somehow turns to be centralized is because someone owns at least the 51% of the coins in the market, and I don't see it happening any time soon. |
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SummonKing2
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December 19, 2017, 08:39:04 AM |
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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.
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