DECENTRALIZED OR CENTRALIZED?

[budismile]

   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.

If so I prefer a decentralized system rather than a system of senralization, because the decentralized system of privileged use remains individual and no one can force it. with this system we become more flexible in using it

[gabbie2010]

In a decentralized digital asset no government can interferes with the system thus making the system uncontrollable by any authorities but it can only be regulated or outrightly banned by the government.
I prefers a decentralized form of digital assets to a centralized system where the authorities will take control of the asset there is likelihood of manipulation by unfaithful and corruptible powers behind  those system

[EasyTutor]

It is important that BTC stays decentralized so that not one organization or group can control it. I do think that some exchanges need to be centralized so there is consistency and reliability.

[Abiky]

In a decentralized digital asset no government can interferes with the system thus making the system uncontrollable by any authorities but it can only be regulated or outrightly banned by the government.
I prefers a decentralized form of digital assets to a centralized system where the authorities will take control of the asset there is likelihood of manipulation by unfaithful and corruptible powers behind  those system

Completely agree with you, mate. Decentralization is the way to go since it gives the power back to the people instead of corporations, governments, or other centralized entities. The level of success that Bitcoin has experienced today, is due to its decentralized nature. However, if it becomes centralized then investors might flee into another cryptocurrency which is decentralized as Bitcoin becomes extremely vulnerable to 51% attacks and external manipulations.

Eventually, I believe that most centralized systems might fail in the future, as decentralized systems would provide unparalleled security, reliability and other benefits which are too hard to ignore in the mainstream world. Ripple or should I say XRP, is centralized and it could fail anytime, considering that it relies on banks and governments to succeed. The moment its internal company decides to freeze assets on the XRP ledger, or governments decide to take over the network, then the whole system will collapse.

On the other hand, that's not the case with decentralized cryptos like Bitcoin and Ethereum, where nodes are widely distributed across the world, and there's a lot of hashrate backing them. For governments or other entities to succeed in destroying such decentralized systems, they would need to spend a lot of money to perform a 51% attack, block BTC nodes, among others to disrupt the network. However, as the number of nodes and miners grow on the network, the cryptocurrency becomes stronger and impenetrable against external attacks. Therefore, decentralized cryptos like Bitcoin and Ethereum will win as they become unstoppable over time. Just my opinion

[hakertajniak]

   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?

No, centralized means there are some peoples or companies that can control or monopolized or regulated.
the best thing about cryptocurrency is decentralized, so it will give us freedom to control our asset

[MrZ28s]

   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?

No, centralized means there are some peoples or companies that can control or monopolized or regulated.
the best thing about cryptocurrency is decentralized, so it will give us freedom to control our asset

How to control the miners in other coins that are also too influential? In decentralization the criminals are free so this is also a problem. Centralization is much worse though as the top as always will rule and control everything according to their means.

[Mcdacillo]

   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?

In my own speculations, bitcoi n is much better if it is being approved or legalized on bitcoin as well being decentralized, because if bitcoin will be centralized there is a chance that bitcoin's price will become stable since it is held by some people like the government but if bitcoin will stay as decentralized then bitcoin can change its price and retain of being volatile that makes bitcoin and the other cryptocurrwncy to be unique other than fiat currency.

[oni4an]

A decentralized system is a very good thing, I think so.  It is a more modern approach to the development of any sphere of our existence. When there are several control centers, it is much better because Monopoly is the last century.

[dupee419]

Decentralized so that there won't be only one to control everything, and if that happens I don't think the economy would go and flow so well, so I really think that decentralized is better. Centralized on tbe other hand has advantages but if it cannot br controlled very well then I think that the crypto would go bad.

[juragane]

there are now so many developing decentralization, and in my opinion the best is centralization like bitcoin. if centralization all get connected easily.

[Finestream]

   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?

In my own speculations, bitcoi n is much better if it is being approved or legalized on bitcoin as well being decentralized, because if bitcoin will be centralized there is a chance that bitcoin's price will become stable since it is held by some people like the government but if bitcoin will stay as decentralized then bitcoin can change its price and retain of being volatile that makes bitcoin and the other cryptocurrwncy to be unique other than fiat currency.

You have your own point too.For me,i prefer to remain it decentralized because it will give us bigger chances to become millionaires in the future if the price will totally hit its highest peak.Of course we cannot deny the fact that most of us here are gaining huge profits in bitcoin so it will be a great advantage for us  to stay it decentralized.But if bitcoin will be centralized in the future,i'm not so sure of its price if it will stay on top,maybe it will just reach below $10k.

[jerrison]

the success recorded by the blockchain technology today in the globe is as a result of the features that was embeded in the design and one of which is the decentralization. It makes the technology void of any kind of influence bot from the government and other agencies. if it is removed then it is no longer what it was designed for.

[thesmallgod]

bitcoin is structured around decentralized system but it can be make centralized by third party and that is exactly what we are witnessing today. many exchange platform have succeded in making trading of crypto to be centralized as traders are not in control of the asset on their system although there are still decentralised exchange but. the same thing applies to other ecosystem and merchant that accepting bitcoin or make use of bitcoin as they can have control over customers account.

[mostkey]

Decentralized so that there won't be only one to control everything, and if that happens I don't think the economy would go and flow so well, so I really think that decentralized is better. Centralized on tbe other hand has advantages but if it cannot br controlled very well then I think that the crypto would go bad.

if you think that way, Crypto certainly will not get worse even though this is not properly decentralized, and there may be some phases in which crypto has a real impact on the world, because the technology carried there is so obvious and probably there will be no comparison to the technology blockchan have

[Abiky]

bitcoin is structured around decentralized system but it can be make centralized by third party and that is exactly what we are witnessing today. many exchange platform have succeded in making trading of crypto to be centralized as traders are not in control of the asset on their system although there are still decentralised exchange but. the same thing applies to other ecosystem and merchant that accepting bitcoin or make use of bitcoin as they can have control over customers account.

Yes. Unfortunately, centralized exchanges have taken over the trading of Bitcoin and other cryptocurrencies, defeating the whole purpose of eliminating the middleman. While decentralized exchanges have emerged, they haven't gathered the level of popularity and usage among people in the mainstream world. Their liquidity is far less than that of centralized exchanges, leaving decentralized ones behind.

This is bad, since governments would be able to enforce regulations easily on any centralized exchange and restrict the trading of certain (if not all) cryptocurrencies. Also, centralized exchanges would become susceptible to hacks and theft, in contrast to decentralized exchanges where no single company or entity controls it. In this sense, Bitcoin and most cryptocurrencies are centralized, simply because they're dependent on centralized exchanges for trades.

However, if decentralized exchanges become improved in terms of speed and efficiency, then most people would trade on them, allowing liquidity to rise, and eventually replacing centralized exchanges as we know it. Therefore, I believe that it's best for Bitcoin to remain as decentralized as possible, to preserve its true value proposition, which is the removal of third-party intervention, as well as giving the power back to the people. Only time will tell us, if Bitcoin will remain this way in the future, or not. Just my thoughts

[Olalomi]

   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?

Centralization of bitcoin negates the purpose it was established or created for, with its decentralized feature there is no bank or government that can regulates or manipulates it because of the trustfulness of the technology behind it (blockchain) I fully supports decentralization of it.

[Abiky]

Centralization of bitcoin negates the purpose it was established or created for, with its decentralized feature there is no bank or government that can regulates or manipulates it because of the trustfulness of the technology behind it (blockchain) I fully supports decentralization of it.

That's certainly true, mate. I believe that there's no way Bitcoin can become centralized in the future, simply because people would want to keep it as decentralized as possible. Decentralization has many benefits that would be too hard to ignore for everyday people. This is a key feature for Bitcoin as it eliminates central control from a single entity (or group of entities) bringing the power back to the people. In this sense, Bitcoin can be considered as the People's Money, since anyone can support the cryptocurrency and use it without restrictions whatsoever. No matter what your age is, or your race, or even your gender, you can freely use Bitcoin without a single limitation in contrast to centralized currencies like FIAT.

Therefore, if Bitcoin wants to succeed, then it needs to preserve its decentralization as it's one of the value propositions of true blockchain technology. Security, resilience, decentralization, and immutability are key towards the longevity of Bitcoin and other cryptocurrencies within our world. On the other hand, having a centralized cryptocurrency would be synonymous to having a bank do all the work for you. This means that the middleman would interfere with all your financial activity, when that's not the purpose cryptocurrencies like Bitcoin were created for. As such, in all means, Bitcoin should retain that decentralization no matter what happens in the mainstream world. Just my thoughts

[supelle.born]

Decentralization is one of the pillars of the constitution of bitcoin and can not be reversed, as it would be its end. 
Crypto and decentralization are synonymous.

[pictsidhe]

We don't know how many months or years bitcoin will be our side. But bitcoin always remain decentralised currency. Because of I think bitcoin overcome all threat, negativity or governments eye shaking, and now bitcoin is stable as a decentralised cryptocurrency. It is the best thing  that's why we love bitcoin.

[bitterguy28]

   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?

YOU have a great point I'm not favor bitcoin or virtual currency become centralized currency and control by one group or government, but if that idea are the way for for cryptocurrency become legal and the worldwide why not but need to learn it well to avoid manipulation of cryptocurrency value in the world market.