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Author Topic: will be Bitcoin centralized ?  (Read 1834 times)
frey_oh
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August 15, 2018, 05:35:09 AM
 #101


bitcoin will never be centralized unless they change Satoshi's system of work for bitcoin to change the way it develops rules. Bitcoin is established in the manner created. If it will be more centralized it will be troublesome. Like taxes, more corruption, government interference, and bank limits
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AmberFlotilla
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August 15, 2018, 06:52:15 AM
 #102

I think bitcoin will always be decentralized and this is a bitcoin advantage over real. Decentralization provides security that can only be managed by users.
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August 15, 2018, 07:18:15 AM
 #103

Bitcoin is a decentralized virtual currency.
Centralizing it would mean defeating the purpose for which it was created.

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Leonardo7
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August 15, 2018, 07:26:11 AM
 #104

Since Bitcoin has no central control, and no one is controlling the issuing and its circulation, more so the network runs on the blockchain. This is already out of the central system control including the government. Will never be centralized.

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setialovers
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August 15, 2018, 09:02:19 AM
 #105

as per governments view, they never accept decentralized bitcoin. the major reason is they unable to track the sender and receiver. smuggling and black money can send anywhere without third party knowledge.

so do you all think bitcoin can be centralized ? can be do ?

Government just make a reason to ban bitcoin. In many country, their government dont like bitcoin concept because they can control the supply. I am believe bitcoin will stay decentralized not matter many government hate it

Diane757Clarke
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August 15, 2018, 09:24:47 AM
 #106

I learned that the Blockchain technology is not currently owned, it is the progress of electronic science. Bitcoin also uses Blockchain technology, which also shows that Bitcoin is hard to concentrate.
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August 15, 2018, 09:36:41 AM
 #107

Bitcoin will not be centralized, I do not see any possibility now or in the near future. The decentralized nature of bitcoin has helped in its growth and development around the world. Now we have more international companies and industries that acepting bitcoins to that advantage. 
derekeaton
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August 15, 2018, 09:58:17 AM
 #108

Bitcoin can be centralized in individual regions or countries, but it seems unlikely that centralization around the world
indayburakday012
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August 15, 2018, 10:05:35 AM
 #109

as per governments view, they never accept decentralized bitcoin. the major reason is they unable to track the sender and receiver. smuggling and black money can send anywhere without third party knowledge.

so do you all think bitcoin can be centralized ? can be do ?
No it will not happen because bitcoin is design as a decentralized digital currency and it could never be centralized because talking about centralization every government has it in the likes of those fiat money. Aside from that the real purpose why bitcoin should be decentralized is that because of the arising needs wherein bank transactions is costly with their high transaction fee. So bitcoin was created to a peer to peer transactions with low cost transaction fee as possible.
Mark Tabicas
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August 15, 2018, 10:37:21 AM
 #110

First, not all governments are against Bitcoin. Japan, Germeny, and Thailand have accepted Bitcoin though they haven't acknowledged Bitcoin as a legal tender yet. Second, to answer your question, I'll say "Nope". In no way that Bitcoin will go centralized. Decentralization is the instinctive characteristic of Bitcoin and I don't think there is a method to change this. But I wonder why do you want to render Bitcoin centralized? So that government can control and accept it?
Benjamin Sousa
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August 15, 2018, 10:38:21 AM
 #111

Bitcoin was born decentralized, governments or anyone else can't change it. It's the core features of Bitcoin and Bitcoin differentiates itself from regular digital money (Money from bank accounts). I can't see any reasons or factors getting me to think about the Bitcoin's going centralized prospect.
Brandon Sousa
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August 15, 2018, 10:38:50 AM
 #112

You need to know why Bitcoin isn't centralized before answering whether it's feasible for Bitcoin to be centralized.
First, no single institution controls the Bitcoin network, monitors or settles transactions, or holds Bitcoins belonging to other people. Since Bitcoin is not physically printed under strict control of a Central Bank, unlike physical currencies, its value cannot be manipulated by financial authorities. It's the external reasons.
Second, Bitcoin transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. And since all information is encrypted, no one could interfere to get it. Also, the network behind Bitcoin allows pee-to-peer transaction. As a result, an intermediary is unnecessary. This is the internal reason.
To conclude, I'm of the opinion that Bitcoin will remain decentralized as it is.
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August 15, 2018, 10:44:05 AM
 #113

I believe that governments will try to regulate Bitcoin, but I doubt they will make it centralized, because the whole point of Blockchain technology is being decentralized. Therefore, making Bitcoin or any cryptocurrency centralized will pretty much make it vulnerable to hackers. However, they might adopt the Blockchain technology or start their own ICOs and have their own cryptocurrencies.
BitcoinGuruOne
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August 15, 2018, 11:44:26 AM
 #114

You are wrong, bitcoin transactions can be traces and they are fully anonymous ad you stated.

The biggest probelm for normal finance system is that , they cannot emit new currency when they want, that is why they are not going to adopt cryptos.

TRhe centraliation of BTC is possible if one gets more than 51%  of mining power and yes, and it is quite close, Bitmain has hige mining power.

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BigBossWithNoMoney
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August 15, 2018, 11:56:29 AM
 #115

Regulated- maybe; officially centralized- hardly possible; manipulated - of course  Grin
zeingrind777
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August 15, 2018, 12:13:27 PM
 #116

If bitcoin becomes centralized, it loses its idealism. Bitcoin will still be decentralized because that is how bitcoin was created.

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thebitcoinmaster
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August 15, 2018, 12:19:52 PM
 #117

as per governments view, they never accept decentralized bitcoin. the major reason is they unable to track the sender and receiver. smuggling and black money can send anywhere without third party knowledge.

so do you all think bitcoin can be centralized ? can be do ?

Impossible, no institution can integrate to control bitcoin especially in the market. Thus, it would really be impossible. The possibility of such centralization if when this big institutions buy a lot of this crypto for the purpose of limiting the supply of it. However, in bitcoin it could really be difficult; thus associated with impossibility.
DennyPen
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August 15, 2018, 12:28:22 PM
 #118

Regulated- maybe; officially centralized- hardly possible; manipulated - of course  Grin

Exactly! btc is now heavily manipulated; in future the manipulations will go harder.
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August 15, 2018, 12:59:03 PM
 #119

I don't think it can be centered, Bitcoin is made decentralized and government regulations cannot make it centralized in several countries. So I like Bitcoin which is decentralized now. Some governments want Bitcoin to be centralized. But the government can track their systems by implementing regulations in their country.
Kuchiyose
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August 15, 2018, 01:13:13 PM
 #120

If bitcoin becomes centralized, it loses its idealism. Bitcoin will still be decentralized because that is how bitcoin was created.

It becomes something that will be difficult to understand because Bitcoin has a fixed nature and will never turn into something different. My opinion like that.

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