DECENTRALIZED OR CENTRALIZED?

[eashikde]

About this recently there are big disputes, which system is better and why. In my opinion, the development of technology gives us the impetus to apply a decentralized system, which has a certain advantage with respect to the centralized system. Security, scalability and only personal access.

[laylava.sted]

Those within the industry understand that one of Bitcoin's most important features and perhaps its true core innovation 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. Other than that, bitcoin is often lauded by enthusiasts for the same reason that it’s feared by critics, that is leaderless. Nobody owns it, nobody controls it, and nobody can tell it what to do. That’s what some people keeps saying that bitcoin is decentralized.

[chidrawarster]

I believe btc being centralised will open more options legally as well. It can become a company like visa or mastercard or any other payment processor widely accepted across the globe.Presently, some of the countries only have the legality to spend btc legally and the rest still dont have any choice rather than to do the transactions in a third party way .So what i feel is once made centralized it will only open doors to may opportunities, this is what i feel.

[trumplove]

I agree with bitcoin, but in the end, if bitcoin wants to be actively connected with government regulations, then centralization is an absolute possibility.

Or there is another analysis that says that they will still regard bitcoin as a neutral coin system without intervention, but not for altcoin because they have active CEOs who must comply with the economic policy system.

[Haliburton]

Those within the industry understand that one of Bitcoin's most important features and perhaps its true core innovation 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. Other than that, bitcoin is often lauded by enthusiasts for the same reason that it’s feared by critics, that is leaderless. Nobody owns it, nobody controls it, and nobody can tell it what to do. That’s what some people keeps saying that bitcoin is decentralized.

That's true. But based on your statement, I think that the term of "distributed" suits more Bitcoin than calling it "decentralized". It's partially centralized because big miners from China have all the power over Bitcoin's mining process, while whales also control a big part of the coin's supply. But, it has some level of decentralization because no single person controls the whole network. This means that Bitcoin is in fact a "distributed" cryptocurrency rather than a "decentralized" cryptocurrency. Considering that there's nothing that it's 100% decentralized, I'd say that full decentralization is just a myth.

Like it or not, there will exist some level of centralization within any system, as a few actors would gain power by using their wealth. That's what's happening with Bitcoin, as it once started as a coin accessible to anyone around the world, but now only big miners with a lot of money can participate in the consensus process to approve or disapprove certain network upgrades. Since huge improvements can be only achieved via a hard fork, they could only become activated on the Bitcoin network with the approval of the miners. And since mining is controlled by the Chinese, they'll approve what's best for them instead of what's best for the whole community.

Therefore, Bitcoin is very distant from its original vision of One CPU, One Vote. Without this, Bitcoin will become more centralized over time, I'm afraid.

[nehemiah31]

Bitcoin is decentralized.It cannot be controlled by government.The government cannot ban it.Bitcoin has its own rules.The value can inflate or deflate depending on the coin market cap.

[Kasliono]

   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 opinion, The most important reason why bitcoin has been made is being a decentralised structure. On the other hand, when it comes to bitcoin exchanges, it will become centralised which is means the money, the result of exchanges is the one being centralised. It is not the bitcoin itself  being centralised. But it is only for some markets which is a centralized market. Because we also already know that there is some markets which is decentralized.

[BennyK]

   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?

Of course, many users of Bitcoin want it to be centralized because the governments depicts a good picture of Bitcoin  under centralization. However, there is a hidden agenda to the reason why the governments are fighting for Bitcoin to be centralized. The governments are just afraid of the power decentralization brings to the people.

[Crafts12]

   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 will forever be decentralized because in the first place it is and that is the best quality and feature of bitcoin so I think it will not switch to the centralized. Also it is best for bitcoin tp be decentralized for a reason that it is the feature that most of the people in here are love about. The only centralized is the exchanges.

[Phoenixhall]

Decentralization is very helpful to the community, no one owns us. So bitcoin decomposition is the factor why most people prefer to deal with this because they spend less time to free their finances. First of all, it's a good thing that not only few will be helped by the project or that will be created. And finally, commercial products will be popular as Western products in Asia. The basic principle of bitcoin is anonymous and decentralized, empowering bitcoin to empower the poor and make money in the hands of the people. Because decentralized bitcoins are the main reason the government fights with it. Concentrated money is being controlled by the central banks of various governments that make them government agents to carry out government procurement. BTC is designed to be decentralized. No third party to confirm transaction. However, when exchanging a penny form, 3rd party services may be involved. The idea behind the bitcoin is: "Be your own bank." I will go for decentralization, there are many advantages in a decentralized system such as avoiding price manipulation, risking transactions any time you choose.

[Haliburton]

Of course, many users of Bitcoin want it to be centralized because the governments depicts a good picture of Bitcoin  under centralization. However, there is a hidden agenda to the reason why the governments are fighting for Bitcoin to be centralized. The governments are just afraid of the power decentralization brings to the people.

True. That's governments' evil plan to make Bitcoin centralized and cripple its growth with their unfair regulations. Sure, it's necessary to protect investor's funds by applying regulations across many cryptocurrency exchanges, but too much regulations would be bad for the overall crypto ecosystem. With a centralized version of Bitcoin, banks and governments could easily shut it down or disrupt its functionality as there would be a single point of failure. But, a decentralized version of Bitcoin will make it nearly impossible for it to shut down as nodes are distributed within many areas of the world.

Thus, the more Bitcoin grows in mining hashrate, and node distribution, the harder it will become for governments to stop it. While Bitcoin is still decentralized these days, there is a certain level of centralization within the mining process. If that is solved, then Bitcoin would become more decentralized than ever, becoming stronger and resilient against attacks or external control. All in all, most people would prefer Bitcoin to remain decentralized for many obvious reasons. Because, if it turns all the way around, then it would be nothing but another "banking system" in the digital realm.

[stiffbud]

Virtual cryptocurrency are mainly decentralised in nature where as fiat national currency are centralised in nature. Decentralised means they are not under control of any kind of government and authority and centralised currency are in control of government and any kind authority. Decentralised currency are highly unstable because they are not under any kind of regulation. Where as centralised currency are more stable and regulated currency. Decentralised currency are mainly tax free where centralised currency are exact opposite of that.

[JerryLucky]

We only need regulations so it can gather more trust rating and approval from the government that can possibly add more investors.

numerous citizens want also the bitcoin to be centralized

They want it but the fact that they can't do something about it anymore. Bitcoin is completely decentralized for the rest of our lives.

For sure, we can not do anything to make bitcoin be centralized. I think if bitcoin is centralized, it will soon destroyed by the government

[MaximusJune]

In my opinion, I  prefer decentralized than centrallized as many reason. For example, if it is decentralized, when one part is attacked but the other parties operate normaly instead of all system will delay when we use centralized.

[Ruffian1314]

I think it is better to be decentralized because that is the best thing about bitcoin. We only need regulations and approval for governments to improve the trust rating of cryptocurrency but the fact is, most of the governments in every country wants it to become centralized so they can do something about it.

[Rashid555]

Bitcoin is Decentralized form of crypto currency and it is a free currency from any boundary or government and if we talk about other currencies they were fully controlled by central banks their demand and supply can be measured and the exchanges rate can be fixed with it. But it is good to have Decentralize currency to keep secret your wealth from others.

[Vladislav2306]

I think bitcoin will never be the centralized coin. We already have such coin - Ripple. XRP is centralized and banks can use it for their purposes.

[oginiimaoyani]

Decentralized nature of bitcoin is were bitcoin super seeds others thereby  making it special it has been useful to the users,it has been made so and no way of centralizing it.

[labenea]

Bitcoin is Decentralized form of crypto currency and it is a free currency from any boundary or government and if we talk about other currencies they were fully controlled by central banks their demand and supply can be measured and the exchanges rate can be fixed with it. But it is good to have Decentralize currency to keep secret your wealth from others.

decentralization is good for welfare equality, but if all use this reference, then greed and even the new economic mafia will not be controlled by the government, on the other hand centralization will control all things including taxes, at least there is a price to be paid for this.

bitcoin continues to prioritize decentralization, and which has the opposite potential is altcoin, we need both to reflect balance, there will be many fiats that turn into altcoin centers in the future, and consider bitcoin as digital gold that cannot be monopolized by adaptive policies.

[xvacator]

I agree with bitcoin, but in the end, if bitcoin wants to be actively connected with government regulations, then centralization is an absolute possibility.

Or there is another analysis that says that they will still regard bitcoin as a neutral coin system without intervention, but not for altcoin because they have active CEOs who must comply with the economic policy system.

But how the government can control bitcoin? I think bitcoin will still decentralize and the government can only make the regulation and make the tax for bitcoin user. Maybe this will be applied to the cryptocurrency and not just for bitcoin only so the government can watch the cryptocurrency market and they can make another law to prevent something bad that might happen.