centralize money vs. decetralized money (bitcoin)

[April Ford]

The only thing that really makes Bitcoin different than the existing banking and financial transaction system, is that it is censorship resistant. It is that way because it is decentralized so that it cannot be shut down by pinpointing a few select points of failure, and putting the clamps on them. That's because it's peer to peer, and you verify transactions you receive yourself, and don't rely on some other entity to tell you if the transaction you received is correct or not. If running a node gets too expensive for most users to run, then they have to rely on third parties to verify transactions for them, like Coinbase, or Bitpay, or Blockchain.info. They then get power to force through even more centralizing pressure, strengthening their position until they are irreplaceable. What happens then when some powerful states come knocking, and demand a fork to redistribute all coins from a revolutionary party's wallets? Or that all fungibility features be removed? Or that the mining reward schedule be extended forever, to "stimulate growth", aka building a bubble during their rule so they get elected again? We would have completely lost our censorship resistant money. It's only when you at least have the option of verifying your own transactions, that the system is resistant to corruption.

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[fuer44]

by system, I prefer centralization. because everything that is centralized and regulated by law, or at least there is someone who controls it, will be better.

[SanSanTar]

Since decentralized money was born, it has more advantages than centralize money. For me, decentralize money is freedom and anonymous, that's why the reason why I choose it

[Kim Addington]

The advantages of decentralization also come with some disadvantages.
A major disadvantage is significantly lower efficiency for processing transactions. A trusted centralized transaction clearinghouse is much more efficient than a decentralized cryptocurrency since a centralized authority requires no consensus or proof-of-work; transactions can be confirmed as fast as the clearinghouse's hardware can perform.
Another "disadvantage" is that a decentralized cryptocurrency cannot be easily changed. This may be desireable by some who wish to adapt monetary policy to accomodate new needs. I have "disadvantage" in quotes because I'm leaving out the answer to the question "Whose needs are being accomodated?". A decentralized cryptocurrency like Bitcoin is difficult to change since it requires all full nodes to change the software they are running.

[basyang]

Hi guys nowadays most people still arguing which is the best centralized or decentralized? , well if we go back in traditional and old times centralized money is the best because we can handle it , we can keep it. but today bitcoin is very popular because its decentralized . and its very convenient . however many of us still afraid in this new type of money which is virtual because it might lose or somewhat but it still similar on cenralized money that might steal or lose. also many financial analyst still advicing about putting your money in bank ? like hell ! ? investing in decentralized much better than  putting your money in bank 1% or 2% monthly ? fuck .. whats your thoughts?

In my opinion both decentralized and centralized our good in the market. It depends on the people who will using it which those two are their like to used. Yes many of us is still afraid to used decentralized because it is not we usually use in any transactions. Putting your money in the bank is not bad because many people usually doing it before decentralization came. Holding or storing your money is not bad because you are starting to accept decentralized.

[ubay]

If told to vote, I prefer decentralized money. Because what we already know, banks are places where greedy people are hungry for wealth.

[mornabo]

by system, I prefer centralization. because everything that is centralized and regulated by law, or at least there is someone who controls it, will be better.

then the bank will limit use of your money, you can't take all your money in the bank or spend it, because they have that rule, and those who control your money, you don't have complete control, thats what you want? for me of course decentralization will be better

[Ezenwanyi]

The thing is I seem to like both centralized money and decentralized money.
The fact that I can get to buy stuffs, shop with centralized  gives centralized money  an edge over decentralized money.
There are so many factors that seems to make the public chose centralized money  over decentralized money,one of which is convenience.

[airdnasxela]

Well to differentiate the two, centralized money obviously is more regulated that is why it is not that volatile in terms of value and can be monitored compared to decentralized (well in the first place that is how cryptocurrency coin was programmed). The good thing about cryptocurrencies obviously is it has a store value and it can be used as a business venture by trading compare to the centralized which is just a form of monetary thing. Centralized money degrades physically unlike cryptocoin that is digital that cannot be degraded.

[peacefulpeace]

the both form of money are both very fine, one cannot uphold one over another, they are both suitable in their time, i mean 10 to 15 years back, before we started talking crypto currency, the centralized form of money was the known and acceptable form then, but now that everyone is talking cashless, then the centralized form of money can best fit in into this time.

[bitfocus]

any financial adviser will advice you to go with fiat and banking, I would do same unless you are heavy into crypto.

[ameliana]

Centralization of Fiat is still something that is still convenient because it is connected with accountability to the state, various transaction problems can be handled quickly, but it does require more costs. whereas decentralization requires time to educate people around the world through draft regulations that are still very unlikely to be implemented. When we think about security and feeling comfortable, bitcoin is still extreme for ordinary people.

[stiffbud]

Centralize money are those currency which are under control of any kind of authority or government where as the decentralised currency like bitcoin are doesn't under control of any kind of authority or government. centralize are regulated currency so they are less volatile in nature where as decentralised currency are not so much regulated because of this irregularities produce in their production and distribution and because of this they are volatile in nature. Centralize currency user pay tax to their government and decentralised user does not pay tax to their government.

[calebwa]

Decentralized money makes you free from current financial system with all its control and possible frauds. There is no authority that will tell you what to do with Bitcoin. The only thing people afraid of concerning crypto is high volatility.

[Babyrica0226]

In our times now, all traditional business we have in this world whether it is private sectors or government agencies are being categorize in centralized business or belong to regulated business industry, while Decentralized which is Bitcoin or crypto's are not control by any of the government in each country. So, for 9 years of decentralization of its existence many of the community here became successful in terms of financials aspects from financial broke going to financial freedom.

[cybernetik7]

People purely has right to make their own desicions about their assets without asking for permission. Financial freedom is very imortant for people. Also, as a course of its nature, centralized system is more expensive than a decentralized money system.

[Meandros555]

what does decentralised and centralised REALLY mean..(dont give that ledger stuff)..
how and why does decentralised give you more freedom..
how is btc or other altcoins not manipulated! we have seen many examples lately already.
how is it more fair..pump and dumping is rampant and advertised openly by some!
i think most of us (as am I) interested in crypto due to its huge volatility and potential to make a huge profit from the price increase of a coin (it could have been called shares of a company rather than crypto).
whats more in the future when we get tired of the difficulty in using crypto and all the hacks and ease with which we lose /misplace coins, and the huge cuts that exchanges take..we will all be crying for centralisation and some form of regulation..(we've already seen blocks been turned back in time..whatever u call it) so lets relax on the freedom, fair and "decentralisation" talk.
how can an open ledger be a good thing when theres no privacy! thats another story..

[VanityWallets2015]

Hi guys nowadays most people still arguing which is the best centralized or decentralized? , well if we go back in traditional and old times centralized money is the best because we can handle it , we can keep it. but today bitcoin is very popular because its decentralized . and its very convenient . however many of us still afraid in this new type of money which is virtual because it might lose or somewhat but it still similar on cenralized money that might steal or lose. also many financial analyst still advicing about putting your money in bank ? like hell ! ? investing in decentralized much better than  putting your money in bank 1% or 2% monthly ? fuck .. whats your thoughts?

We all know this that bitcoin is decentralised crypto currency in almost all part of the world and there are very few countries like South Korea, japan, Florida,Kenya who has legalised the bitcoin in their nation after getting its real fate and potential of bitcoin and on the other hand we have our Fiat currency system which is the most accepted and the centralised form of currency and moreover the bitcoin is considered as superior to these centralised currencies and I think there is no battle between centralised and decentralised crypto currency because in the end bitcoin is the winner.

[Tetutu]

Decentralized money offers freedom and secured access to your funds you can control and holding the coin of yours but in centralized system someone is controlling your funds so you need to decide which one is best.

Centralization is a centralized financial system such as fiat money, where regulation by the central bank is binding and does not follow the rules is considered illegal. Decentralization is an open financial system, it means that all transaction data is on multiple servers that are interrelated, so that they cannot be engineered and misused

[Marial Carter]

bitcoin is not a virtual currency but a digital money, many people are afraid of bitcoin because of its volatility