DECENTRALIZED OR CENTRALIZED?

[Angna27]

As far as Iknow bitcoin is designed to be decentralized that is what its uniqueness among others so that so there will be privacy and all that but to centralizedit is another thing, no matter what they like it to be that way is kind a hard to change becuase its already been created that way.

[tunapa]

Everyone has his/her opinion which might be right. But , centralization isnt an option to make bitcoin genrally accepted. Regulation Would have been a better option. Decentralization is mean for freedom, self control. Centralization will remove this and return us to old banking system.

[crossabdd]

all there are sides of weakness and goodness, if bitcoin becomes centralized. then it will function like fiat. and all controls are in the institutions that govern bitcoin. so users still have limitations in using. if bitcoin remains on its decentralization it will not be stable because the value of bitcoin is determined by the user itself. and there is no insurance for loss or theft. for me personally, I still choose bitcoin in its decentralization.

[ict]

In my opinion. currently more appropriate for a centralized system in our financial field. because the financial system still tends to be safer and if the system experiences hacking, the financial manager is able to be responsible. however, for the future, a centralized financial system is very useful for us because we can manage our own finances or assets, our data can be safe from the abuse of third parties.

[mcneLubB]

I believe that there should be 90% decentralized systems. Because there are cases when centralized systems are also very useful to people. They can not just be excluded

[cryptowisser]

We would say that the main advantages of centralized exchanges are:
1. Higher liquidity than decentralized exchanges
2. Often fiat-to-crypto trading opportunities, allowing new investors to enter the market
3. Recovery of forgotten passwords generally available.

Decentralized exchanges however, generally have the following advantages:
1. Spread out servers leading to lower risk of server downtime
2. Security (essentially immune to attacks)
3. Anonymous.

Do you think the advantages above for centralized exchanges outweighs the advantages above for decentralized exchanges?

The Top 5 most popular exchanges in our Cryptocurrency Exchange List are Changelly, Covesting.io, BitMEX, KuCoin and Crex24, and those are all centralized exchanges. The first decentralized exchange is Mercatox in place 11. This is at least an indicator that decentralized exchanges are not that commonly used yet, but maybe they will be in the future.

All the best,
Cryptowisser

[Abiky]

all there are sides of weakness and goodness, if bitcoin becomes centralized. then it will function like fiat. and all controls are in the institutions that govern bitcoin. so users still have limitations in using. if bitcoin remains on its decentralization it will not be stable because the value of bitcoin is determined by the user itself. and there is no insurance for loss or theft. for me personally, I still choose bitcoin in its decentralization.

That's certainly true, mate. Both centralized and decentralized models have their pros and cons. However, for the longevity of the Bitcoin blockchain, it's best to approach decentralization as much as possible. This would eliminate the need for middleman or third-party intervention, making the cryptocurrency "free-for-all". Because if Bitcoin becomes centralized, then it would be nothing more than Ripple (XRP) or another financial institution (Bank). People want something where they could easily control, without the need for anyone else to interfere. Just like Cash, Bitcoin would become practical for the mainstream world.

However, we may not know for certainty if Bitcoin will remain decentralized as there are other interests from various companies within the blockchain industry looking to make a quick buck and expand their business. Bitmain is a good example of such company, where it has the most dominance in Bitcoin's hashrate. If at any point in time, it desires to disrupt the Bitcoin blockchain, it could easily do so effectively performing a 51% attack. This would make Bitcoin centralized, since a single company would have the power to determine the future of the cryptocurrency, instead of the rest of the people as a community. It's unfortunate, but the reality as Bitcoin becomes closer to centralization than we've ever imagined.

Most people in crypto land are not aware of this, and are simply looking for quick profit, but when the harm done to the Bitcoin blockchain is too big, then it'll be late to remedy it. The whitepaper states: "One CPU, One Vote", but those days are long gone. Now, Bitcoin mining is only accessible for wealthy people and companies who're able to afford expensive mining equipment and stay ahead in the competition. Unless developers put an end to mining pools for the sake of decentralization, Bitcoin would become more centralized in the mining process each day.

Despite this, Bitcoin is still somewhat decentralized as anyone can transact and run a node at will. However, it'll be up to question how Bitcoin will become within a couple of years from now. Just my thoughts

[MoreMoneyHunt]

One of the amazing features of the Blockchain technology is its decentralized nature. This is what makes a lot of people patronize this revolutionary technology because it eliminates all central authoritative third parties, hence provides simple and faster payment methods. Centralization always delay transactions due to the long steps following bureaucracy.

[deppil]

As far as Iknow bitcoin is designed to be decentralized that is what its uniqueness among others so that so there will be privacy and all that but to centralizedit is another thing, no matter what they like it to be that way is kind a hard to change becuase its already been created that way.

The government tries to make bitcoin become centralized so that it can be controlled while slowing down its development too
but we know that the path of bitcoin is as decentralized. however their efforts to change it bitcoin will remain decentralized

[Haliburton]

Everyone has his/her opinion which might be right. But , centralization isnt an option to make bitcoin genrally accepted. Regulation Would have been a better option. Decentralization is mean for freedom, self control. Centralization will remove this and return us to old banking system.

Correct! With a centralized system, you get all the bad things that are inherent within the traditional banking system. Which is why, Satoshi introduced Bitcoin in the first place, to prove itself as a decentralized financial system where anyone could transact freely without the need for middleman. This last entity is the risk involved within a financial system, as they would have control over your own money. By eliminating the middleman, people would gain control over their own money for the first time in history, without fear of seizure of interference from third parties.

That's why decentralization has been the key towards Bitcoin's success after all these years. If it becomes centralized, then it would serve no purpose in this world, as it would be another banking system which has a single entity in charge of everything. That's not why cryptocurrencies were introduced to the world in the first place, since their purpose is to bring freedom to all by removing the dependency of centralized institutions which are subject to corruption, fraud, and more.

All in all, for the sake of Bitcoin's longevity as a cryptocurrency for the masses, decentralization must be preserved at all costs.

[Privatoria]

The time is already coming when various countries begin to release their own crypto assets. In the future, there will probably be centralized, national cryptocurrencies of different countries and international decentralized assets, such as Bitcoin.

[Fishmaster23]

Yes. I was waiting for a 260 u-turn, so I sold them for 220. But that's how it all went, then periodically have to buy something to sell, unfortunately at a higher price.

[GhostWithin]

As far as Iknow bitcoin is designed to be decentralized that is what its uniqueness among others so that so there will be privacy and all that but to centralizedit is another thing, no matter what they like it to be that way is kind a hard to change becuase its already been created that way.

Born to be decentralized ... But in fact, Bitcoin - can be centralized (if not already so). And all this is due to the algorithm proof of work

[serjent05]

I prefer it decentralized still though it is more risky and prone to illegal use but this way adopters benefited much from it. This feature made bitcoin special and unpredictable. If it be centralized i dont think it will be as profitable as it is today though centralization will make it more stable.

[conanmori]

Both have different best uses and bad uses. Decentralized is way more risky but you have the access on all your account. Meanwhile Centralized controling all your funds and organize and its more look like safer.

[escalante28]

Bitcoin became famous because of being unique so no need to change whatever it has now. If bitcoin become centralized what makes you think that it ill be  valuable? Being in decentralized got lot of advantages like no one can control it, only the holders and big whales can manipulate but not own by the governments. If bitcoin mass adoption will continue I believed no one can manipulate it also.

[evichi]

Bitcoin is designed to be decentralized. The philosophy behind bitcoin is : Be Your Own Bank. To be centralized means that 3rd party or other authority have control over it. The concept behind bitcoin is decentralization. Nobody controls your money. You withdraw or fund your account (wallet) at your own time /pace.

[Babyrica0226]

As far as Iknow bitcoin is designed to be decentralized that is what its uniqueness among others so that so there will be privacy and all that but to centralizedit is another thing, no matter what they like it to be that way is kind a hard to change becuase its already been created that way.

We all know here that bitcoin obviously created with decentralization system, and that's the reason why it became popular and increased its price value and some prediction form the experts by 2025 bitcoin will probably become 100k$ each. And because of this decentralization almost all of us here had its own privacy to hide our personal identity because it is pseudonymous.

[Susan Smith]

From my point of view, I still think that decentralization is better, if the bitcoin market can be controlled it will be very dangerous when big whales may want to capture the market and then  There isn't much  room for us to invest more

[danielmax1997]

   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?

u cant forget the fact that the main purpose of bitcoins is to remove centralization and to have a decentralized economy, if it is centralized by any chance then their wont be much of a difference between fiat currency and crypto currency.