Azzhan
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December 19, 2017, 08:46:51 AM |
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As long as you have fifty-one percent of the currency, then you can control the currency market, but for now, want to control fifty-one percent of the currency is almost impossible, is a huge asset.
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Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
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Dreamchaser21
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December 19, 2017, 08:53:51 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
Bitcoin created for the purpose of decentralization and I believe bitcoin will never be centralized. If this thing happen then the price of bitcoin will dump for sure, some altcoins are centralized and look who control the price of it. |
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Lazada
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December 19, 2017, 08:58:12 AM |
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Bitcoin currently has a centralized system, perhaps what is meant is how to make Bitcoin more reliable so that all components and sectors of the world can trust the use of Bitcoin. we are all an important part in the development of Bitcoin, the more we often use Bitcoin then the faster Bitcoin can develop. Everything about the future of Bitcoin is something that we must strive with all our might.
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reck1ess
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December 19, 2017, 09:32:23 AM |
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what do you think would happen to bitcoin economy if someone would actually take in control of it?
If it ever happens that someone would be able to take control of it then we should expect that bitcoin will be tax and its value would go lower from its current value right now. But I think if is being tax, only those owner of wallets in websites and application will be tax and the mining sites etc. because if they add tax to user it would be crazy having transaction fees and tax at the same time. |
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paulo013
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December 19, 2017, 09:36:57 AM |
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it will become a difficult for us. and i think because bitcoin is made for decentralization. and if will this happen for me people will not make any investment because they don't want any manipulating specially bitcoin price. also if this will happen then we get ready for tax.
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milandres0207
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December 19, 2017, 09:48:50 AM |
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If that was happen i think its good, because bitcoin will more popular in many people around the world. There are many store that accept bitcoin and it is a good effect on the bitcoin. but for us, i think bitcoin will having a tax and the price will fix.
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junoreactor
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December 19, 2017, 09:55:41 AM |
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On paper it is decentralized, de facto many argue it has became centralized because it is in the hands of a few people.
There is a community behind deciding (think about the forks, Segwit, etc.).
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randal9
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December 19, 2017, 11:02:19 AM |
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On paper it is decentralized, de facto many argue it has became centralized because it is in the hands of a few people.
There is a community behind deciding (think about the forks, Segwit, etc.).
I think that certain people are asking the pace for it, but it can't become centralized in the general sense of the term |
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junoreactor
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December 19, 2017, 11:12:11 AM |
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On paper it is decentralized, de facto many argue it has became centralized because it is in the hands of a few people.
There is a community behind deciding (think about the forks, Segwit, etc.).
I think that certain people are asking the pace for it, but it can't become centralized in the general sense of the term Yes I do agree, it would make totally no sense if it was centralized for good, officially, with everything it implies to the users. |
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RomanPetrush
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Join @Bountycloud for the best bounties!
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December 19, 2017, 11:19:19 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
Bitcoin created for the purpose of decentralization and I believe bitcoin will never be centralized. If this thing happen then the price of bitcoin will dump for sure, some altcoins are centralized and look who control the price of it. i wont igree with you, cause it could be only like illusion, but you don't know all aspects of that system. Blockchain, in my opinion is centralized. I'm pretty sure that we don't know something about blockchain. |
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qwerty12
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December 19, 2017, 11:26:35 AM |
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in fact it is an expression that is contrary to the nature of bitcoin.
if indeed the bitcoin centered, then .. bitcoin will not be much in interest as it is now.
because what makes bitcoin special is its non-centralized nature.
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goaldigger
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December 19, 2017, 11:29:04 AM |
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There are a lot of bitcoin holders, and i think it is not possible to monopolize the bitcoin industry. The One that can only take control of bitcoin is the government but just in a particular place or country.
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Kez1817
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December 19, 2017, 11:30:36 AM |
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If bitcoin become centralized there is no freedom ,there is a limitation for all the users and investors and ofcourse there is an implementation of bicoin tax. If it will happen maybe the price has also a limit,it will not increase like what the price now. The goverment will control the bitcoin.
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buwaytress
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December 19, 2017, 11:35:17 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.
Ah, yes, one of the arguments that a settlement network erodes the fundamental principles of Bitcoin. But really, is this going to change Bitcoin into a centralised currency? Remember, with every upgrade, consensus is still necessary, and that concept of decentralisation still clearly will and always will take charge. The decision ultimately does not rest in the hands of a few. I know if you pick out individual traits, individual circumstances, without the necessary context, then it becomes quite easy to argue that centralization has crept into the network. But I wonder if we have begun to confuse decentralisation with anarchy? And if we have, who said there isn't anarchy in Bitcoin? |
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sirkings0003
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December 19, 2017, 11:40:11 AM |
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what do you think would happen to bitcoin economy if someone would actually take in control of it?
Had it been that bitcoin was centralized, then it will not for once be popular. In fact, it would have disappeared by now. Bitcoin's strength lies in the decentralization. One should be talking about strengthening its decentralization and not centralization. |
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masterbt
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December 19, 2017, 11:56:33 AM |
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Once that came, then we will start paying taxes and government will control once again by creating rules as per their wishes
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Liquidhero
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Merit: 10
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December 19, 2017, 11:59:12 AM |
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Nothing good may happens if someone reveal hi is controlling bitcoin. People love bitcoin because they beleive it is decentralazed, they tired from banks and state attention
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trk
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December 19, 2017, 12:12:30 PM |
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At the time that is happening, bitcoin will eventually die The concept of bitcoin is decentralized transaction, without it bitcoin will lose its value it initially hold from the start But knowing minority is controlling majority of bitcoin is already terrifying, they can shake and manipulate the price whenever the want  |
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btcmayumana
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December 19, 2017, 01:47:59 PM |
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In my little noob unterstanding it is not possible to take control of it. Only if you own 51% of all BTC
Yes, but the point here is "what if". So, I think if bitcoin would be centralized we would not see such prices as now and we would have to pay taxes to the government from this earnings. Those two things would change bitcoin totally and I doubt that it would stay so attractive as it is now. Centralized was not essential of Bitcoin it self, it creates to break of a saturated economy system that only makes the capitalist group richer and the commoner bound by rules that make it difficult to get rich. That's why many people over the world going to learn it and buying for investing. 'But if' in somehow Bitcoin become centralized means controlled by company, this would be step back from our dream to control our bank money by self. |
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MIZANUR5033
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December 19, 2017, 03:24:56 PM |
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This is not a simple task. It is almost impossible but if it begins there will be occurred a big change at cryptocurrency. Why does people use bitcoin? They doesn’t need to pay any extra taxes by using bitcoin but if bitcoin centralized then they has to pay the taxes to the government of their incoming amount.
Now we can invest the amount into bitcoin with hide our biological information but if it centralized then we have to submit our full information to the government. Then people will leave from here and will choose another system, so bitcoin will lose that’s position but it is so much impossible
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