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Author Topic: The significance of bitcoin decentralization  (Read 440 times)
Btcallans
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June 19, 2018, 03:10:30 PM
 #121

The significance of bitcoin decentralization is that the system works without a central bank or single administrator.Bitcoins are sent from user to user on the peer-to-peer Bitcoin network directly, without the need for intermediaries.
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June 19, 2018, 03:34:09 PM
 #122

There are so many advantages of decentralization it is not the idea of there will be a lot of money and no one will handle to distribute it but the main purpose of this is the security no one can manipulate the price of bitcoin even the government.
Being decentalized is one of the best characteristic of Bitcoin in terms of its system and for transaction. And for most scenario the capability of a particular thing to have an own base system that could run without center management could literally help people to gain chance of earning and have a stable income on trading and investment.

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June 19, 2018, 04:00:33 PM
 #123

they have got the important of the bit of the bitcoin allocated as bitcoin network network is a horizontal line or destination point without a bitcoin network failed in the P2P transaction
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June 19, 2018, 05:30:53 PM
 #124

I believe, the decentralised nature of Bitcoin is its best feature. Decentralisation makes the coin not bound to any rules and regulations by any government and decrease the chance of corruption. Hence, it increase the transparency in the financial system. This makes a direct contact between the people without any intermediates.
Also, it helps in reducing the dependability on banks and can lead to a digital, cashless society.
Also, it allows the coin to have its own system and hence opens new horizons in the financial market for the coin.

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June 21, 2018, 10:12:00 PM
 #125

The significance of bitcoin decentralization is that the system works without a central bank or single administrator.Bitcoins are sent from user to user on the peer-to-peer Bitcoin network directly, without the need for intermediaries.
The importance of decentralized nature of bitcoin could be imagined from this fact that decentralization is the backbone of the crypto market. People are attracted towards this system just because they are not relying on banks or other people for their transactions. They are sole owners of their money. If this system gets regularized, it is going to lose large number of customers, this is just my opinion not a fact. 

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June 22, 2018, 02:05:08 AM
 #126

There are many problems with centralization. For example, central Banks can print money and plunder your wealth without your consent. Your money in the bank is not actually your money, but the bank's liabilities to you. You don't always get your money out of the bank. It's possible that the bank will only allow you to withdraw 60 euros a day, and it may even force you to confiscate your deposits. Private property is sacrosanct, but people can't help it. In the BTC, these bad things will no longer exist. BTC is a monetary system that is completely out of the bank and only runs on the Internet. Even the law enforcement agencies cannot seize or confiscate BTC. The BTC network cannot be blocked unless the Internet is completely shut down.

In the BTC system, you can really control your money, not indirectly through the bank. BTC has used technology for the first time in human history to ensure that private property is sacrosanct.
In short bitcoin allows you to do what banks should be doing already and are instead pretending to do, and now they have been exposed by their fraud they want bitcoin to disappear since it is showing to everyone that takes the time to look how inferior they are not only to bitcoin but to the image they have created of themselves as all powerful and yet they cannot destroy bitcoin or any other cryptocurrency that has been widely adopted.
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August 15, 2018, 04:15:41 PM
 #127

In my opinion, it is hard to overestimate the significance of being financially independent, I mean, truly, indisputably independent. Before crypto, if you didn't belong to the elites, they could easily make your life miserable by stealing your financial freedom, and ultimately just freedom. This is no longer the case. Indeed, there are other aspects of personal life that governments still have a full control over. But crypto has shown us all that the government diktat is not absolute, and it can be effectively evaded. Now you can hide your wealth, and if things go terribly awry for you personally for whatever reason, you can run and settle anywhere you like. Your coins will be with you. Just keep up the good work my friend.
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