DECENTRALIZED OR CENTRALIZED?

[Goodnuel]

One of the key and most important featured of the bitcoin and cryptocurrency is its decentralized nature. Making it centralized with a single central bank or authority will defeat the purpose.. However, I think bitcoin and cryptocurrency exchanges can be centralized to provide more security for investors and help rid the growing level of scam. So i would like a full hybrid system.

[chichibano]

Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator.

[BobAshley]

The decentralized institution was the idea that Bitcoin was formed and aimed at. The blockchain is just the foundation, to connect to real life, we need more than. 6 years after the blockchain was born, we have a smart contract, from which many startups jump in, many projects have To start, create multiple dApp and other commercial applications on the blockchain. Their goal is to change the areas that are damaged by the model focusing on the decentralized model.

[truongdhnh]

   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?

My idea is that Bitcoin should grow naturally and when people see the benefits of it, they will be forced to accept it in a broader way. Its development and there are group benefits here.

[MonicaSteve]

In my opinion, I still prefer bitcoin's decentralization, if bitcoin is now a centralized trading platform, meaning that one can control it, such as the government. The bitcoin market will be strongly influenced by government tightening policies. So it will not be attractive to investors

[humantraffic]

When an asset is decentralized, it is more susceptible to malypulation and volatility. But it is better to let it be so, than the state will control cryptocurrency flows. And do what they need.

[Abiky]

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.

Exactly. There's no doubt that both centralized and decentralized assets will co-exist in the future. Sometimes, a decentralized system cannot fulfill certain tasks of a centralized one. The same thing happens vice versa. Which means that Bitcoin and other cryptocurrencies could exist as decentralized assets in the long term, while Fiat currencies would still be the norm by then. The most important thing is for cryptocurrencies to establish a distinction against centralized currencies backed by governments. Otherwise, they'll become nothing more than another centralized financial institution like Banks.

As for Bitcoin, it's hoped that it could become much more decentralized in the future. With its current state, Bitcoin is not 100% decentralized. This is mainly because its PoW algorithm is largely dominated by a single ASIC hardware manufacturer known as Bitmain. If there's a change in PoW, or simply preventing mining pools from emerging, then Bitcoin could be more decentralized than usual. For it to be that way, it's hard to tell as no one knows what will happen in the future. Therefore, Bitcoin being either decentralized or centralized in the future is like a Russian Roulette. If developers and the community work together to prevent centralization, then Bitcoin will remain that way. But if they don't, then Bitcoin would head into the likes of banks, governments, and businesses worldwide. Just my thoughts

[burky155]

Ofcourse we have needed decentralization and now we have with with the bitcoin and cryptocurrency. Ofcourse we have to thank to blockchain system too. When you use decentralize in a business the price, transportation and insurancing cost would go down, and we can get everything faster. If you understand and examine the system in right way you can have success easily in every where in the world. So the system brought us fairplay in business..

[Peacemaker1994]

The decentralized nature of cryptocurrency is one of its interesting attributes. And also part of its down turns. If exchanges adopt centralization it will slowly make it way into the whole sectors of cryptocurrency at large.

[Compiler]

Bitcoin is totally decentralized for what is left of our lives by the simple fact that it was created like this and for the moment nobody has changed the code. That means that anonymous too, I do not know if it is regularized, this will change or there will be consequences.

[TRONTON]

if I have to choose, then I prefer to choose bitcoin like this
because it's also what makes bitcoin so phenomenal,
if bitcoin is centralized what is the difference between altcoins and other tokens? the price is most likely to be manipulated

[Omega Weapon]

One of the key and most important featured of the bitcoin and cryptocurrency is its decentralized nature. Making it centralized with a single central bank or authority will defeat the purpose.. However, I think bitcoin and cryptocurrency exchanges can be centralized to provide more security for investors and help rid the growing level of scam. So i would like a full hybrid system.

We need decentralized exchanges and not centralized versions, how many times have we heard of an exchange getting hacked and most of the time it is suspected this was an internal job, so it is better that we have decentralized exchanges in which you are always in control of your coins and there is not risk of the exchange freezing your coins just because you are trading too much.

[Urbexs]

   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 bitcoin is decentralized because it makes transmissions anonymously

[goodluck0319]

centralization will lead to issues of inflation and transaction responsiveness, then there will be no sense at all in cryptocurrencies

[boakyei]

I believe that it's the choice based on the abilities of the user. Decentralization is all about taking own responsibility and enjoying the freedom whereas, in decentralization, we let someone take responsibilities on our behalf and there is no freedom, in that case, it's just illusion of freedom. Even in the centralized system, the end user has to suffer from the mistakes of centralized authorities so it doesn't make any sense to go with that way just because we are using it since many years.

I don't think decentralized offer more freedom than centralized do. Centralize of bitcoin can even give more freedom and safety than it is not control by any central authority now.

[Olayinka225]

Ever I will go for Decentralized exchanges.
Just that centralized exchanges is meant to make fast sale of coins whenever listed in any exchanges though it isn't the right call if truly we're behind and not for the fall of the coin.

[DJ_Rick]

I think that it is better to use decentralized coins like btc. however, there are some experts who think that it is not fully decentralized. To my mind, it is better for the government when the currency is centralized

[Shreek]

why not apply a hybrid system by combining decentralization with centralization simultaneously?
that is, bitcoin is regulated democratically using voting rights by BTC Holders with the aim of realizing new policies in collaboration between communities

[1993jochico]

Bitcoin is Decentralized and that is one characteristics of bitcoin that caught the attentions of an investors for me if one crypto currency is not decentralized it will not succeed in the crypto market.

[Korkorjkk]

It is the decentralized nature of Bitcoin that attracted people to join the crypto community and I think making it centralized will only drive away a lot of people who have embraced Bitcoin.