DECENTRALIZED OR CENTRALIZED?

[babykajima]

The nature of bitcoin is decentralized. It is an alternative, there isn't intermediary or third party because of "unreliable" environmental prejudice if there is an appearance of intermediaries. These exchanges operate in a horizontal manner. They never store assets under trust services, and conduct transactions purely based on intelligent contracts and atomic swaps. At present, the number of decentralized trading floors is more and more likely to challenge the concentration floors in the future.

[eashikde]

Of course, the decentralized system has a lot of advantages, but many of their principles of operation are borrowed from the centralized one. High security, data integrity, speed of operations and much more.

[Haliburton]

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.

That's the best feature Bitcoin has. If it loses decentralization, then I'm afraid that it will become nothing more than a centralized financial institution backed by the likes of governments around the world (just like Banks). Many governments are desperately trying to make Bitcoin centralized just so they could shut it down for good. But, due to the distributed nature of Bitcoin, it's quite impossible to achieve.

This could change though, if Bitcoin becomes centralized in every way possible. The mining sector is quite centralized as Bitmain dominates it. Mining pools have had a bad effect over Bitcoin's decentralization, leading the coin closer to centralization each day. With this, Bitcoin could become vulnerable to a 51% attack, which is pretty bad for the longevity of the cryptocurrency.

Other than that, Bitcoin would've been a fully decentralized cryptocurrency free from the likes of banks and governments around the world. Sure, they would want to enforce KYC/AML regulations to prevent money laundering, but there’s more to this as their main purpose is to destroy Bitcoin for good.

[jcarlo]

   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?

Decentralized system that used by bitcoin makes government can not touch it. Its better for bitcoin using decentralized system because when it became centralized, there is nothing different with digital money

[thenameisjay]

   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?

Having bitcoins be centralized is just like using fiat all over again. So why use bitcoins if we have fiat in the market anyway? Being centralized disables and cancels the features of bitcoins. No one will ever use bitcoins anymore once this becomes centralized.

[Blackwhite69]

   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?

Decentralized system that used by bitcoin makes government can not touch it. Its better for bitcoin using decentralized system because when it became centralized, there is nothing different with digital money

Something that has its own control of what we have becomes a person that will later be a lot of people. with that we can have money not suspected and get tax fees every month.

[gulshan1]

Decentralized is more best for whole world which gives the full freedom to any body by individually of any transaction at any time and any where in the world. Centralized has limitation for all user for transaction in the country not across the whole world.

[Abiky]

The fundamental principle of bitcoin is the anonymity and decentralized nature which empowers bitcoin to be able to empower the poor and makes it possible for money to be in the hands of the people. If Bitcoin becomes centralized then the principle is destroyed and there will be nothing like bitcoin again.Because bitcoin is decentralized is major reason why the government is fighting the it. The government wants to control bitcoin and  as far as they can not arm twist bitcoin to control it the next move is to destroyed bitcoin which is where we are now. Centralized currency is being control by the central banks of the various governments making them the agents of government to carry out the government bidding.

That's my concern. If Bitcoin becomes centralized, then it would be nothing more than just a banking system controlled by the likes of governments worldwide. The huge dominance of mining hashrate from Bitmain would kill Bitcoin's decentralization in the long term, as no other company would be able to compete with it in the production of efficient ASIC miners. Bitcoin has already been heading towards centralization this way, but most people don't seem to care if they're able to make money with it.

However, I believe that decentralization is one of the key aspects of blockchain technology, as it allows a cryptocurrency to remain immutable and resilient against 51% attacks. Perhaps, if Bitcoin devs would pay close attention towards the imminent threat of centralization within the Bitcoin network, then the cryptocurrency would be much more accessible to ordinary people just like it was in the good old days. A quick change in the PoW algorithm or a new mechanism that would prevent mining pools from emerging would be ideal, as it would allow Bitcoin to remain as decentralized as possible.

Therefore, if Bitcoin remains decentralized no matter what, it would pass the test as a truly immutable cryptocurrency free from government manipulation, corporate interests (Bitmain), and more. While there's no system that's 100% decentralized, it's best to preserve decentralization as much as possible. ASIC resistance might be the key to true decentralization, although the same scenario could happen with GPU mining where a single company controls most of the hashrate. Yet, it's best to balance between both PoW and PoS (hybrid model?) to allow the cryptocurrency to stay as decentralized as possible while maintaining unparalleled security. Just my thoughts

[poletando]

decentralized is the main feature of bitcoin, and I think it is true when we use bitcoin and happy with the decentralized features. but if something happen and force bitcoin to become centralized I think it still okay right? the function of bitcoin is same right?

[Shannon98]

Both centralized and decentralized networks currently exist in popular platforms, both currency in the crypto community has been a debate. The benefits and drawbacks have been widely discussed and amongst coin enthusiasts.

There’s a new form of crypto emerging, a hybrid cryptocurrency. A hybrid cryptocurrency is one that takes the best parts of both centralized and decentralized currencies. 

[Malam90]

Bitcoin is naturally decentralized with peer to peer transaction system. If it is centralized, it would be better for the citizen of the world but the reality is that Bitcoin will be decentralized for the rest of times.

[jakezyrus]

decentralized is the main feature of bitcoin, and I think it is true when we use bitcoin and happy with the decentralized features. but if something happen and force bitcoin to become centralized I think it still okay right? the function of bitcoin is same right?

its impossible for bitcoin to become centralized because it is already built to become decentalized but let say bitcoin is centralized , its function will worked differently like for example we can expect a more stable price , a more faster and inexpensive transaction/fees  , we can also expected to be taxed based on our holdings due to the fact that bitcoin is now controlled by a government organization .

lastly , bitcoin will now be used mainly as a currency and not by an asset tool . therfor i dont think that being centralized is a good idea to us  .

[Lintormi]

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.

bitcoin is not completely decentralized. As soon as it comes to dealing with the exchange.I generally think that there is no decentralization as such, and so on for a long time

[Shafiqul Islam]

Decentralised currencies such kind of currencies which has no control over governments and banking system...but centralised currency is controlled by governments and their banking systems. Bitcoin is a decentralised currencies.

[minhlee95]

Of course, I am for bitcoin to retain its main feature - the decentralization of the system. It's time for us to change the established, outdated global financial system and launch a new, independent mechanism, which is bitcoin.

[Jackolantern]

I think that most people like btc because it is decentralized, however, it is not about me as i would prefer it to be centralized now. To my mind, crypto should be centralized as then we will do everything legally

[kucritt]

decentralized is the main feature of bitcoin, and if bitcoin become a centralized i think it okay as long the other features and the function of the bitcoin is not changing at all, i think bitcoin is still okay to use

[rindayle]

In my opinion, centralization of btc will also open up more opportunities. It can become a company like visa or mastercard or any other payment processor widely accepted around the world. At this point in time, many countries prohibit the use of bitcoin, so it is only available in a decentralized manner.

[Rozita]

In my opinion, centralization of btc will also open up more opportunities. It can become a company like visa or mastercard or any other payment processor widely accepted around the world. At this point in time, many countries prohibit the use of bitcoin, so it is only available in a decentralized manner.

After bitcoin becomes centralized, it might accepted by governments. But Why should we use that? What will be benefits of bitcoin? What will be difference of bitcoin with Visa and Mastercard?
If bitcoin becomes centralized, a bigger problem will appear. Because the main purpose of bitcoin won't be reached.

[Hustinog]

   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 think its better that the crypto is decentralized in which the government don't have a interaction with it so that the investors will not scared about investing in crypto.