DECENTRALIZED OR CENTRALIZED?

[cacvy3]

I think that we all are looking for the same in here, but this is not sometrhign easy to do, and getting into a decentralized world is not something easy to do, specially when we talk about this kind of economic system.

[sebo.k]

If bitcoin become centralized it will defeat the original idea of making it anonymous. Bitcoin is escaping the slavely of banks and getting it to centralized won't make what is suppose to be.

[Johnyz]

If bitcoin become centralized it will defeat the original idea of making it anonymous. Bitcoin is escaping the slavely of banks and getting it to centralized won't make what is suppose to be.

Bitcoin can't be controlled especially by the government. I still believe that a decentralized market can survive in the long run even most of the government make their own regulations about it. The concept of this thing is really to be anonymous in transacting around the world, but since KYC is required now I think a decentralized market are slowly become a centralized thing.

[german1080]

definitely it would be crazy to centralize bitcoin, the goal of bitcoin is that no government has control over money, but nevertheless it seems to me that there should be an international and general regulation on cryptos, it is not fair for one country to prohibit bitcoin and others not.

[cryptowonders@20]

decentralized

[DoublerHunter]

Decentralized of course. There is no doubt that decentralized is better than centralized because it means freedom and it will give you freedom in the future and that is why it is best to just get into the cryptocurrency because cryptocurrencies are the start and the influencer for our world to start getting into decentralized system also.

[glanmarc2]

   Many individuals agree and have the same opinion about bitcoin as decentralized digital asset, a system without a central bank or single administrator is more favourable.
   But somehow, numerous citizens want also the bitcoin to be centralized, because others believes it can remove barricades and walls to allow more easily reached and democratized financial and economic infrastructure.
   For you what is your own perspective regarding this matter?

For me, Bitcoin needed to be centralized so the demand will be higher. Because if bitcoin became centralized digital asset it would attract more investor and many will know about bitcoin which will be the cause of the higher price of btc.

[Raidal]

Honestly, I prefer if this bitcoin is centralized. If the bitcoin is centralized then it can be monitored its distribution. Another advantage is the sense of security and assurance that bitcoin has a small chance of loss. In addition, bitcoin will be more difficult to use for criminal activities, such as money laundering, illegal trade, and fraud. This happens if there is an official institution that controls and governs its existence.

[magneto]

What are the advantages of bitcoin being centralised at all?

If that was ever to become reality, then bitcoin would just be another incarnation of fiat currency controlled by a central entity, most likely a government. Isn't this what we're trying to work away from with bitcoin as a currency? It simply does not make any sense to me to revert back to the old, centralised system, when you have a working decentralised system.

The only thing why people are worried about bitcoin being decentralised is its volatility, and some argue that a central bank is needed to keep it stable. However, I think volatility is a complete non-issue. Gold was volatile. Silver was volatile. Yet people still used them as currency, with no issues. As long as it is a long term store of value ( which fiat isn't), then it's something good. And bitcoin is that at this moment, being decentralised.

[Abiky]

Bitcoin can't be controlled especially by the government. I still believe that a decentralized market can survive in the long run even most of the government make their own regulations about it. The concept of this thing is really to be anonymous in transacting around the world, but since KYC is required now I think a decentralized market are slowly become a centralized thing.

Agree. All regulations imposed by governments would simply affect centralized exchanges instead of decentralized cryptocurrencies like Bitcoin. This is because Bitcoin and other cryptocurrencies can be supported by anyone around the world regardless of location, political status, among other things. Since Bitcoin provides freedom, even if its banned in a country (like China for example) it can continuously be used by their citizens in a peer-to-peer fashion. While it may not be possible to trade Bitcoin against fiat in a centralized exchange, it can still be traded in person.

Therefore, regulations such as KYC and AML usually apply to centralized exchanges (and some decentralized exchanges) which use crypto-to-fiat trading pairs. Exchanges which only trade cryptocurrencies (crypto-to-crypto) are not subject to this rule as far as I'm aware of. This applies in most decentralized exchanges where they only provide crypto-to-crypto trading pairs.

In the end, Bitcoin and other cryptocurrencies will remain unstoppable if they stay decentralized. But if Bitcoin and other cryptocurrencies become centralized, then it will be their doom as governments would be able to enforce regulations at will. Just my thoughts

[Pinkris128]

If bitcoin become centralized it will defeat the original idea of making it anonymous. Bitcoin is escaping the slavely of banks and getting it to centralized won't make what is suppose to be.

I agree, bitcoin for me was fine as decentralized because government cant control it. Just think about it when it is centralized, everything will change and will not be like what it is today. Decentralized is one if the reason why people get into it, because they know that they are free to what they want to do with their bitcoin.

[levvv]

   Many individuals agree and have the same opinion about bitcoin as decentralized digital asset, a system without a central bank or single administrator is more favourable.
   But somehow, numerous citizens want also the bitcoin to be centralized, because others believes it can remove barricades and walls to allow more easily reached and democratized financial and economic infrastructure.
   For you what is your own perspective regarding this matter?

i prefer bitcoin will keep centralized because if i centralized, it means it will be controlled by some organizations or peoples.
what barricades you mention above ? i think centralizing bitcoin won't removing any obstacles or problems on it.

[luckchuck]

Bitcoin was originally intended to be mined by anyone, but these days only those who have huge farms are able to do that, I no longer can mine it with my PC. One needs to invest a lot to be able to mine btc and this means that average person is out of the game. This makes btc more centralized.

[Abiky]

I agree, bitcoin for me was fine as decentralized because government cant control it. Just think about it when it is centralized, everything will change and will not be like what it is today. Decentralized is one if the reason why people get into it, because they know that they are free to what they want to do with their bitcoin.

Exactly. Bitcoin's main value proposition is decentralization, and if it turns out to become centralized in the future, then it would fail. People would want to use decentralized cryptocurrencies like Bitcoin to preserve freedom over their funds. With this, no one can control anyone's assets, as control is given back to the user of the currency.

Therefore, it would be best for Bitcoin to remain as decentralized as possible to prevent third parties from ever controlling it. If it stays as is, then it could be considered as a safe-haven for anyone who's looking to secure their money against government manipulations and other undesired situations in the mainstream world. Just my thoughts

[rizkypurwati]

initially an object that has value is not controlled by a circle or group, but the timing of making all the changes because a system that regulates its development to be more evenly, as well as bitcoin, does not rule out that one day there is a large group that controls bitcoin with the amount many and they can control the market price, but none of the groups want to lose money.

[senne]

Bitcoin was originally intended to be mined by anyone, but these days only those who have huge farms are able to do that, I no longer can mine it with my PC. One needs to invest a lot to be able to mine btc and this means that average person is out of the game. This makes btc more centralized.

But bitcoin is still mine-able if you have necessary amount of funds to invest, I believe bitcoin mining is getting harder each day as there are already many coins mined by various people already. Out of 21 million bitcoin we have already accessed 17 million and if mining is made easier then everyone will easily generate new bitcoin which will disturb its financial system.

This point cannot be related to centralization of the system and the definition of decentralized system is still supported by bitcoin. Hence, there is no argument if its decentralized or not.

[Boldcom]

   Many individuals agree and have the same opinion about bitcoin as decentralized digital asset, a system without a central bank or single administrator is more favourable.
   But somehow, numerous citizens want also the bitcoin to be centralized, because others believes it can remove barricades and walls to allow more easily reached and democratized financial and economic infrastructure.
   For you what is your own perspective regarding this matter?

bitcoin's most important features is its decentralized structure. bitcoin has no central control: no central repository of information, no central management, and, crucially, no central point of failure. and yet, most of the actual services and businesses built within the bitcoin ecosystem are centralized. they are run by specific people, in specific locations, with specific computer systems, and they are susceptible to specific legal entanglements.

[Pattart]

I think that we all are looking for the same in here, but this is not sometrhign easy to do, and getting into a decentralized world is not something easy to do, specially when we talk about this kind of economic system.

I think the economic system will be difficult to change. we are in a country that has rules made by the government. and the government controls everything (centralization) including the financial and economic system. we can not turn into decentralization. because it will eliminate the role of government in a country?

[sakahayang]

   Many individuals agree and have the same opinion about bitcoin as decentralized digital asset, a system without a central bank or single administrator is more favourable.
   But somehow, numerous citizens want also the bitcoin to be centralized, because others believes it can remove barricades and walls to allow more easily reached and democratized financial and economic infrastructure.
   For you what is your own perspective regarding this matter?

Before you want bitcoin to be centralized, you should first know what decentralization and centralization are.

Centralization is the existence of a single ruler who is central to power, establishing taxes and laws. the system was first established by a state based on the royal system (feudalism).

Decentralization is a system in which overall decision-making is left to the users of the system and the absence of any individual who can impose his will on other individuals without the consent of the majority of system users.

The decentralization system is applied because it is now widely used democratic system in a country that is supported by It high technology. then if we want the decentralization system replaced by centralization then the application of the system back to the days of the kingdom and without any supportive technology.

[muhammedb]

   Many individuals agree and have the same opinion about bitcoin as decentralized digital asset, a system without a central bank or single administrator is more favourable.
   But somehow, numerous citizens want also the bitcoin to be centralized, because others believes it can remove barricades and walls to allow more easily reached and democratized financial and economic infrastructure.
   For you what is your own perspective regarding this matter?

The greatest features or importantance about bitcoin is that is been decentralized.
Change this now will really cause some parfectic lose in bitcoin interest and price which can really be end of this wonderful decentralized digital currency bitcoin