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Author Topic: The significance of bitcoin decentralization  (Read 1047 times)
BartS
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November 06, 2018, 09:15:06 PM
 #161

Decentraliziation bring independence to the market. People want to reduce cost of payment and transactions of money, they had better use blockchain technology.   The fact that everyone suffer if the economy gets down. But we all know that governments and mostly banks are the real causes of it, even though they do nothing about it except trying to save theirselves.
That is what the people want but what it is what the banks want? Do you really think that they want the transaction costs that they charge you to be cheaper than what they charge today? Of course not, they want to charge as much money as they are capable and bitcoin is going to make their life harder because unlike them the blockchain is many times more efficient, so they have three choices, to become as efficient as bitcoin, to hope that people keep using their services despite the cost or to try to ban cryptocurrencies.
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zhelis74
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November 06, 2018, 10:41:17 PM
 #162

Decentraliziation bring independence to the market. People want to reduce cost of payment and transactions of money, they had better use blockchain technology.   The fact that everyone suffer if the economy gets down. But we all know that governments and mostly banks are the real causes of it, even though they do nothing about it except trying to save theirselves.
That is what the people want but what it is what the banks want? Do you really think that they want the transaction costs that they charge you to be cheaper than what they charge today? Of course not, they want to charge as much money as they are capable and bitcoin is going to make their life harder because unlike them the blockchain is many times more efficient, so they have three choices, to become as efficient as bitcoin, to hope that people keep using their services despite the cost or to try to ban cryptocurrencies.
The decentralization of bitcoin makes it tough and untouchable from government and other party that want to take down crypto currency and I think satoshi nakamoto already anticipated such situation before he made bitcoin and we know that it really works and in fact many government want to abolished bitcoin for they think that it is a threat for there economy and what happened now is that they can't easily destroy bitcoin.

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November 06, 2018, 10:51:03 PM
 #163

The decentralization here means that there is no third party involved in the transaction, so it can reduce the hassle of the procedure and, in particular, save costs and speed faster.
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November 06, 2018, 11:47:40 PM
 #164

I think it exists to give real power to people...as an individual they can control what they have and what they own which is anyways not possible ... Otherwise.
People often ... Think they own their money but that's not true some sort of control always exists...
It's... Providing.. an alternative for all the people out there... to really control their money ! And for equality... To exist.
Decentralization for me is not about the power of the people to control their assets. Its about a transparent transaction to all of us. Bitcoin did it because government upholds their citizen. They corrupted the tax and make a hidden transaction so that, they gain a lot of money. Citizen has freedom of information and decentralization made it.

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