Centralized or Decentralized for cryptocurrencies?

[CPetersson]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

[1715150104]

1715150104

[lady Royal]

Obviously, people want now decentralized cryptocurrencies because of there features and now the people don't want to be controlled by the government also.
One more thing this question has been answered much time here search the forum.

[Aniadec]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

Could you please inform, is the ETH centralized?
If yes, then are all altcoins (based on Ethereum) centralized too?

[Crypto24hrs]

Should bitcoin be approved as a legal tender it will definitely add to the popularity of bitcoin leading to mass acceptance and usage but we should not forget that decentralization is what makes bitcoin unique of its kind

[ylnar123]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

Many people prefer a decentralized cryptocurrency due to it's anonymity on their transactions. Aside from that, decentralized crypto are not backed by the government which could lead to taxation.

[aoluain]

Should bitcoin be approved as a legal tender it will definitely add to the popularity of bitcoin leading to mass acceptance and usage but we should not forget that decentralization is what makes bitcoin unique of its kind

Absolutely, the decentralised nature of bitcoin is one of its main features.
bitcoin being adopted by a country as legal tender is one thing and it nay
be good for it but governments and banks following on trying to control
it is anothet. This would go against the concept of bitcoin.

We have already seen high profile countries like germany and japan
recognise bitcoin as a form of payment but they dont use the term
"Legal tender"

[Nanot]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

As what i have think i prefer to go with centralized because since bitcoin was becoming the next era currency so that the government also has concern about it in able to manage also the country and thier many aspects but when it terms to money we are all governed by it. Because you will not be able to live without money to expences all the needs in everydays life and to the future

[BitHodler]

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

Bitcoin is already legal in Japan, which significantly boosted its price last year. I think it's safe to say that the increase from $1000 to $5000 was largely dedicated to Japan's open-minded stance on Bitcoin.

I however don't see the same price boost happen each time a country follows the same path, because the more often these events follow each other up, the less effective they become.

On the other hand, I do have to point out that Japan has significantly reduced the freedom people using Bitcoin had before. It has become a strict jurisdiction to operate in, which even forced Binance to leave.

[marine4u]

Should bitcoin be approved as a legal tender it will definitely add to the popularity of bitcoin leading to mass acceptance and usage but we should not forget that decentralization is what makes bitcoin unique of its kind

Bitcoin is still the market leader with unique features and no coin can replace it so I believe future Bitcoin development is inevitable. The market is moving up and investors can fully expect.

[tepakpak]

If bitcoin is approved by the government as a means of payment, it's very good, but on the other hand we don't want to be controlled by the government because it will only create restrictions from the government. The original nature of bitcoin is decentralization, stand alone!

[dothebeats]

Once governments started recognizing bitcoin as somewhat legal on their definition, it will give yet another massive price boost for the said crypto. Japan started it last year, and other countries are also reviewing the possibilities for bitcoin to become a recognized asset, a currency or a legal tender. Personally, I'd say decentralized or centralized coin depends on its usage. Both has its pros and cons depending on usability. Centralized coins can be an excellent token for private services, whereas decentralized coins can be used for purchases across borders.

[White Christmas]

Obviously, people want now decentralized cryptocurrencies because of there features and now the people don't want to be controlled by the government also.
One more thing this question has been answered much time here search the forum.

Yes we want it to be decentralize becaus eit makes bitcoin safe from hacking and from the greedy people. If bitocin was remain decentralize even government cannot control it. No ome csn manipulate the price of every coin in the market unlike when it was cengralizd it ws like bitcoin was open for the possibility that it can be abuse and not controll in a proper way by a big or. Rich people.

[pitiflin]

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

No country is ready to adopt bitcoin. Countries have just marked it as legal/legal but banking ban/illegal: https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory

Legal tender should mean, everybody in a particular area is willing to accept it as a form of money, and as far as I know, no country has ever done that. If that ever happens, it may have a good effect, but it will mostly never happen, for numerous reasons. Think why?

[Saveplus]

For me I want decentralization ,I dont want government control us especially in the transaction money.But it also depends if what rule can government gave to us if they are againts on it its better to be decentralized and work it on our own.

[bigmelons25]

I don't consider centralized coins to really be a cryptocurrency.  Coins like EOS and ripple and centralized so you aren't in 100 percent control of your own coins.

[becak mesin]

Bitcoin is decentralized, it use a blockchain technology which there is no an authority controlled this. Everyone is free to get into crypto. If Bitcoin centralized is not different from any currency or virtual currency. Therefore, it is become new trend of digital money because it is decentralized.

[aardvark15]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

I think Bitcoin’s price would increase a great deal in this situation, but I don’t think Bitcoin really needs to be adopted as an official currency to be successful. It just has to be used by enough people as a store of value or method of payment. It can thrive just as a store of value.

[Indrawan77]

Of course we would like a decentralised for crypto, one of the reasons crypto is famous is because of the freedom, people already tired of everything being supervised by the government, the legality and adoption of crypto is depend on the government's point of view, if they can see crypto as the new technology and new way to do transaction then I think they will adopt it because crypto got so many potential that can make people to do easy transaction

[Eijrafarm]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

I think it will surely increase bitcoins investors. The more the government trust bitcoin the more people who will also trust and follow governments movement.

[timerland]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

There is virtually no point in adopting centralized cryptocurrencies at least in my opinion, simply because of the fact that it's essentially the same as fiat currency - it's not backed by anything, its supply can be debased, and it's just totally controlled by a single entity.

Decentralized cryptos like bitcoin are going to be the trend in the future. These are the real store of values when it comes to an economic crisis because of the fact that they are not controlled by anyone and can't be abused.

Your last question didn't make much sense. I'll still try answering it, though. There is going to be no effect on bitcoin itself if it ever becomes legal tender in a particular country, but it will have an effect on those who live in that particular jurisdiction, as the legal definitions of bitcoin may change.

[wxa7115]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

This is easy we must always choose the decentralized option, this world is already very centralized with a lot of power in very few hands and this is not healthy since those people do not have to do anything to retain their power since they fix the system to always benefit them.

With a currency like bitcoin that cannot be printed at will the governments will not be able to spend more than what they get on taxes something that as far as I remember is in the US Constitution because if you allow a government to go into debt then you are saddling the future generations with your own mistakes and that is immoral, so if a governments approves bitcoin as a legal tender that is fine but we must never accept centralized cryptocurrencies coming from a government or any other entity.

[eaglewhite80]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

Could you please inform, is the ETH centralized?
If yes, then are all altcoins (based on Ethereum) centralized too?

A little search on Google would have given you an answer to that, but the answer is no. ETH is decentralized and the likes of ripple is centralized.

No one really like the idea of centralization and since the option of decentralisation came, it even became attractive like something that has been needed utmostly. Decentralisation brings freedom on the way you spend without any format of control or monopoly by some system or government.

So in that case, who would want to give up decentralisation for centralization, except the government herself? Obviously over the years, we all know the negative impact centralization has played globally.

[babysweetTiger0401]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

Could you please inform, is the ETH centralized?
If yes, then are all altcoins (based on Ethereum) centralized too?

The statement in the above mentioned about centralization was right actually, now in crypto currencies most of it are being categorized in decentralization. Though there are few countries declared Bitcoin as legal currency to their territory like in Japan, and Korea if I am not mistaken, correct me if I am wrong with it. 

[diger]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

I think if bitcoin is approved by the government it will create a precedent that will be used by other countries . Germany and Belarus are very close to cryptocurrency ,I believe that the next 10 years, half of the countries will switch to blockchain technology.The question then is, can the blockchain exist without bitcoin ?

[microwave]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

Decentralization is for all of us to be improved of our living lifestyle but this is not useful in general i mean to the government economy if all people are use bitcoin for daily transaction, because how could the poor people get help from government if bitcoin is decentralized we know already  that in rural area has no computers and cellphones because of no internet site, how did they get help to the government.

[andriarto]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

Could you please inform, is the ETH centralized?
If yes, then are all altcoins (based on Ethereum) centralized too?

The statement in the above mentioned about centralization was right actually, now in crypto currencies most of it are being categorized in decentralization. Though there are few countries declared Bitcoin as legal currency to their territory like in Japan, and Korea if I am not mistaken, correct me if I am wrong with it. 

right, cryptocurrency uses a decentralized system, this means that it is peer to peer, so it will be faster in the delivery process. and we can see the transaction contract. and I think banks are starting to look at this blockchain system

[satriagedhe]

i think to make it legal , the country need make regulation of that without changing the decentralized system of bitcoin because that why make bitcoin different

[zhelis74]

i think to make it legal , the country need make regulation of that without changing the decentralized system of bitcoin because that why make bitcoin different

Yes, crypto currency will lose its spirit if it will become centralized since it will easily controlled and worst is if there is an additional fee like for taxation or any other fee that the third party will get, so as for me being decentralized system is a good strategy for crypto market and for that its more untouchable. I think that if crypto currency is centralized then maybe it will not last long and it will be gone for nothing.

[chaoscoinz]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

Decentralization is the next step in the digital age we're in. We live in times where, privacy is coming to an end (whether you believe it or not). The more sophisticated the technology, the less privacy we will have. Of course, if you trade your freedom for security, you will end up with neither. I think ye ole Thomas Jefferson (rest in peace) mentioned something to this effect.
Forgive me If I have misquoted him.
      Decentralization is needed, but only to a certain degree, to much will cause anarchy, to little is considered tyranny.

[Ezenwanyi]

I prefer the decentralized cryptocurrency.
The reason for this is that, a decentralized cryptocurrency will be most transparent in transaction processes, no third party interference, no control whatsoever, no room for fraud, etc.

[mostkey]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

Decentralization is for all of us to be improved of our living lifestyle but this is not useful in general i mean to the government economy if all people are use bitcoin for daily transaction, because how could the poor people get help from government if bitcoin is decentralized we know already  that in rural area has no computers and cellphones because of no internet site, how did they get help to the government.

I think that is not a very serious problem, we must not forget that we are still bound to use all the money for crypto results to Fiat, so far there are still many villages that have received financial assistance several times in a few years, without problems in temporary assistance. fiat, the original side of crypto is that decentralization will remain intact and safe, all like this, without regulation from any institution, so that we can control all money without having to intervene with others.

[Strongball]

Decentralized preferably, it's the sole essence of cryptocurency as far as I'm concerned.
It insinuates balance somehow since it's very fragile and highly unpredictable, it's what
captivated people to get involve and invest in crypto. It's alluring that way and exciting,
however all this talk about regulation does draw out the thought of a universal centralize
cryptocurrency. Time will tell I suppose.

[millionaireshs]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

As of now while bitcoin doesn't approved of my country i choose decentralized because me and my family would be a beneficiary of bitcoin but centralization is very important to all constituents for every country if it is primay use to all thats necessary it needs to be centralized if it is primary use to all to the purpose of government provided back up fund to poor people because of bitcoin taxes.

[lordmick]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

I don't think that approving Bitcoin by the government will affect to using centralized or decentralized cryptocurrency. All of use see that there are many manipulations on cryptocurrencies market including big assets as Bitcoin and Ethereum. Of course it I natural that members of crypto society mostly will choose decentralized cryptocurrency. But another citizens who don't know advantages of such cryptocurrencies and especially bankers may be will be against of such decision. Finally it up tu everyone what to choose and what to use.

[millensharon8]

That's a very funny question. Maybe the OP should get to know what makes centralization less of an interest compared to decentralization.
From an article I was reading recently, it says;

Decentralized cryptocurrencies such as bitcoin now provide an outlet for personal wealth that is beyond restriction and confiscation

Compared to centralized space, I totally believe this is one a lot of people would go for.

[PETES]

The fact that being decentralized will still remains even government acknowledge bitcoin as a tender. It's solely decentralized which no one can't change it, even you want it more than your life. Yeah some altcoins can be done centralized because of its creator told it so, wherein they can have a full control.

If bitcoin will be decentralized then I guess it's game over.

[liliano]

If one country approves the use of bitcoin as a legitimate means of payment, many countries will try to isolate the country because it has indirectly opposed the rules of centralized banking and finance globally. Many large countries are still trying to keep regulating the financial and other countries' banks through debt, loans, and other regulations

[Eigig]

The chatacteristic of cryptocurrency of being anonimous should be continue ,so I prefer it continue to be decentralized , If there any changes especially if it will be regulated and be legit ,then we will accept the fact ,that it will centralized in the near future.

[Mjadon15]

Some Governments are biased, and if they get hold of the control of Bitcoin, no one could predict what could happen. Moreover, the essence of Crypto-currency is not to place the control in the hands of some people. Crypto-currency is a default trust system, and when people gets to control it. Biasness could crept in, not to talk of when Government gets in charge.
Although, there are good sides to it.

[Mjadon15]

The good sides of Government having control over Bitcoin is that; it will bring a lot of people into dealing with Bitcoin. The demand for Bitcoin will increase as the awareness grows over the reputation and influence of the government. In result, Bitcoin's price will be affected positively. People Holding Bitcoin now will be proud of their patience afterwards.

[CPetersson]

The good sides of Government having control over Bitcoin is that; it will bring a lot of people into dealing with Bitcoin. The demand for Bitcoin will increase as the awareness grows over the reputation and influence of the government. In result, Bitcoin's price will be affected positively. People Holding Bitcoin now will be proud of their patience afterwards.

To be honest, as a creator of this theme, i would choose decentralized. Bitcoin (and alts) will replace fiat anyway, or maybe there will be another way to replace fiat. Both centralized and decentralized networks currently exist in popular platforms.

[djgtr]

Should bitcoin be approved as a legal tender it will definitely add to the popularity of bitcoin leading to mass acceptance and usage but we should not forget that decentralization is what makes bitcoin unique of its kind

Bitcoin is still the market leader with unique features and no coin can replace it so I believe future Bitcoin development is inevitable. The market is moving up and investors can fully expect.

Bitcoin is always fast approaching in the economy it gives a new home town and positive outlook to the people living in the community. Well it needs an appreciation to some individual but we can see already some people changes a life because of bitcoin and that is good enough to look at it.

[Bitfling]

The different thing between crytocurrency and fiat is decentralized. If coin controlled by government and used for payment, i think its like digital money and not cryptocurrency. Cryptocurrency should be decentralized because government should not control the supply

[Maestro75]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

Not being centralized is the major thing holding bitcoin from getting a global acceptance. And it is also hindering the planned listing on the stock exchanges. May be this is a good thing, may be it is not. But the other centralized cryptos have not really done better than bitcoin since it still maintains dominance. So I think it is a plus to have decentralized cryptos.

[Wong Goblog]

The initial concept of cryptocurrencies was decentralized, but unfortunately the distribution of coins that did not look fair made the team do dumping and pumping as they wanted.

[scoin9]

Centralized system, removes the control from the people and gives it to a few just like the banking system, while decentralized puts control of the market back into the hands of the people. Both forms have their pros and cons decentralized helps the people have control at the expense of true regulations while decentralized removes control by the common man, hands this control to large corporations or investors but promotes regulations which is sometimes very important.

[aoihs00]

If it is approved as legal tender by any government then that would be beneficial within that country and nothing else will happen. Just like the thing that Japan approved bitcoin as legal tender, since then everyone is using the bitcoin in their own country. Because we know that there are many advantages of owning a bitcoin with us all the time. The ease of use as well as mode of investment itself. The only thing that will happen is, its use within that country will rise largely and mostly people will try to get as much as they could.

There will be no significant effect of this decision over the global trade because everyone has their own rules and regulations and off course boundaries which can not be broken at all.

[andriw]

When the government recognizes bitcoin legally it will greatly affect the demand of bitcoin itself, considering that it is very positive news and refers to the increase in bitcoin last year to almost $ 20,000 then the high demand will affect the increase in bitcoin prices.

[Lexurdania]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

Its much better if currency using decentralized system. With decentralized system, no corrupt system on moneter system. If government recognized bitcoin and regulate bitcoin as payment, i think the effect is on bitcoin price will rising

[magneto]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

Obviously, a decentralised cryptocurrency.

I would never use a centralised currency unless I absolutely need to. One of Bitcoin's most innovative and promising characteristics is the ability to transact trustlessly, without a third party involved in any of the processes, including the handling of the supply of currency, or storing funds. And another one of the characteristics that make bitcoin have so much potential over the long run is its limited supply, hard coded into its system, and is enforced on a decentralised level.

With a centralised crypto you're getting none of that. Essentially it's going to be fiat v2.0, just on a blockchain, that's all. It's not a store of value that the decentralised cryptocurrencies are, because it is managed by a central entity, more coins can always be added to circulation, forks can be done, etc. etc.

Whether bitcoin or any other decentralised cryptocurrency is legal tender or not is completely irrelevant. What matters is whether or not the network itself is decentralised.

[hyadumadha]

Why we talk about blockchain if its still need to be centralized and third parties intervention?

[jvdp]

The different thing between crytocurrency and fiat is decentralized. If coin controlled by government and used for payment, i think its like digital money and not cryptocurrency. Cryptocurrency should be decentralized because government should not control the supply

Decentralization is the thing to save us from this shit corrupted world. I wanna know whether this is good project or not and decentralization is the matter on every ICO projects or even I like to avoid the worst coin Ripple since it is from the centralized platform.

So far the people takes wrong assumption on regulations and government's move around the world to find the great kicks. Still the bitcoin and altcoins are bumping up in the market.

[cryptocurrencyguru]

centralized cryptocurrency is Ripple and Decentralised cryptocurrency is Bitcoin both these crypto currency use blockchain as intermediary technology but their specifications are different

[CPetersson]

The different thing between crytocurrency and fiat is decentralized. If coin controlled by government and used for payment, i think its like digital money and not cryptocurrency. Cryptocurrency should be decentralized because government should not control the supply

Decentralization is the thing to save us from this shit corrupted world. I wanna know whether this is good project or not and decentralization is the matter on every ICO projects or even I like to avoid the worst coin Ripple since it is from the centralized platform.

So far the people takes wrong assumption on regulations and government's move around the world to find the great kicks. Still the bitcoin and altcoins are bumping up in the market.

Sure with corrupted world, but how crypto (not only BTC) will overtake fiat? We all use fiat irl, if governments choose cryptocurrency instead of fiat, it will give unreal pump to all currencies (not only Bitcoin). But you understand, governments need to control everything and they won't pick decentralized cryptocurrencies.

[CPetersson]

centralized cryptocurrency is Ripple and Decentralised cryptocurrency is Bitcoin both these crypto currency use blockchain as intermediary technology but their specifications are different

We are not comparing ripple and bitcoin. Of course they are based on blockchain, everyone knows that. We are discussing about what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

[belimblink]

I think Decentralization is a good thing in the cryptocurrency world. It changes anything that is usually controlled by a centralized authority who is arrogant into a slippery eel that is hard to turn off. No one will revoke your list simply because some snowflakes are offended or close your account just because you received a very large payment.

[mrcash02]

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

I think when a country adopts Bitcoin it's always positive for the currency as the demand will increase and its price will increase as well (at least on short term). But it may not be positive for the people of that respective country which adopted Bitcoin officially, by the government's endorsement. The reason is that when a government endorses Bitcoin, they are trying to stay behind it, centralizing the currency on the local sphere, inside the country's borders.

And with centralization there are extra costs for the user, what can make the usage of Bitcoin more expensive and uninteresting for many people... And when it's uninteresting the demand drops, and the impact becomes negative even for the currency in general (on long term).

[Finestream]

I think Decentralization is a good thing in the cryptocurrency world. It changes anything that is usually controlled by a centralized authority who is arrogant into a slippery eel that is hard to turn off. No one will revoke your list simply because some snowflakes are offended or close your account just because you received a very large payment.

I agree.Having a decentralized system for cryptocurrencies will give us more freedom to manage our own money and be responsible for its safe keeping rather than having banks that are centralized which will give us limitations that will minimize our full authority towards our own money.

[frowsiter]

Having legal tender is different thing and regulating the bitcoin completely would be completely different thing. Know the difference that tender is just set of rules which gives few limitations, timely use etc and thus does not bind with full set of rules. While if one says regulating it then there would be far stricter approaches towards the bitcoin and thus it could be disastrous for the crypto economy as it will take out all the freedom of the bitcoin which it is getting from the current decentralised environment. So believe me one has to keep the bitcoin in decentralised mode rather than centralise.

[jestbenen8]

I don't mind centralized currencies in crypto as long as I know what they are doing and they are transparent on their moves. For example ripple has been one of the biggest crypto currencies out there for a long time and no matter what you say about them they have been going strong for years now working with banks and other corporations.

If a centraziled crypto coin has to do something with us than I would rather it be like ripple. If not than of course we know how horrible it can get so I rather use something decentralized and keep going on my way like I did for the fiat currency that has been not so valuable anymore.

[toolucky98]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

if bitcoin approved to be a legal tender, there will be good because an open ledger called a block chain on which all transactions are recorded and monitored. Because of this, once a transaction is completed and recorded on the ledger, it cannot be changed. Transactions are available for verification by anyone and anytime.

[ecnalubma]

In nature cryptocurrencies are decentralized, however with government intervention and KYC its becoming centralized. In a dangerous price manner of cryptocurrency its good for investors to have protection specially the small ones, without governing bodies we can't sue anyone who is violating others. But I believe that power and control over should only be vested to individuals or holders.

[goaldigger]

Too much or too few has no good effect on everything. If i would have to choose, i want to have a half decentralize half centralize or a pre regulated system just right to monitor scam ICOs or even scammers or alt accounts. System with no regulation is good, but free people are sometimes scary.

[CPetersson]

In nature cryptocurrencies are decentralized, however with government intervention and KYC its becoming centralized. In a dangerous price manner of cryptocurrency its good for investors to have protection specially the small ones, without governing bodies we can't sue anyone who is violating others. But I believe that power and control over should only be vested to individuals or holders.

It depends on people, because not everyone understands why we need decentralization. Most of people just don't care about their area of freedom and for them its ok to send passport, photo etc. And ofc government won't allow something decentralized.

[wxa7115]

Some Governments are biased, and if they get hold of the control of Bitcoin, no one could predict what could happen. Moreover, the essence of Crypto-currency is not to place the control in the hands of some people. Crypto-currency is a default trust system, and when people gets to control it. Biasness could crept in, not to talk of when Government gets in charge.
Although, there are good sides to it.

I agree with this, while some people complain about the whales having a big influence in the market at the same time they have gained the right to that influence by having so many bitcoins that they earn by being smart and invest at the right time unlike so many other people, but in a centralized system those very same whales will be a lot more powerful since they will be able to bribe those at the top and play by different rules than the ones that we play.

Under a decentralized system whales still have a lot of advantage since they are very powerful but they still need to play by the same rules that we play, that means that if they make too many mistakes they will stop being whales and they will not have as many influence in the market as they have now.

[Jaycee99]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

For they are not against (based on what I know) they may not see bitcoin as an essential to there country.  We should have atleast understand them.

Also can anyone give an information about a government, besides China that do not like to adapt bitcoin/ the cryptocurrency.

If some government that I do not know of do this banning/ non-adaptation to bitcoin. I would say it is becuase that they do not see a great future behind cryptocurrency or they can not see a good way to take advantage of our cryptocurrency.

Also no offense to the government, we do see some government that are getting monies behind our back.

[Kelvinid]

In nature cryptocurrencies are decentralized, however with government intervention and KYC its becoming centralized. In a dangerous price manner of cryptocurrency its good for investors to have protection specially the small ones, without governing bodies we can't sue anyone who is violating others. But I believe that power and control over should only be vested to individuals or holders.

So in the end,we still prefer to have a decentralized system rather than a system controlled by the government.I think we should not lost the nature of crypto having a decentralized system because first and foremost,it's what keeps the people from entering into a crypto world where you have the full control of your money and no tax is being collected.

[sunsilk]

Having a government approval for supporting bitcoin gives the supporters and investors a confidence that the government isn't disagreeing with bitcoin or cryptocurrencies. But whether we will see them adopt or not, bitcoin is bound to keep on operating.

We believe that with these adoptions and approval's will make the price of bitcoin on a boost but if there will be no the same event, nothing will happen. As long as a country declares bitcoin isn't illegal to them, whether they will declare it as a legal tender or not and they are neutral to it I guess that's ok.

[kidoseagle0312]

Well of course I would rather go decentralize concept, And I know for sure everybody here want it too. Due to we don't to be control by someone  else or by the government. Then, cryptocurrency was being categorized as unregulated business while centralization is for regulated business which is controllable by the government, and we don't it to be happen as crypto fanatic.

[BOTTOS]

Decentralized is what we should strive towards. Centralized cryptocurrency defeats the purpose of cryptocurrency.

[wxa7115]

Decentralized is what we should strive towards. Centralized cryptocurrency defeats the purpose of cryptocurrency.

This is correct, but this is precisely the type of cryptocurrency that governments are going to create in order to deceive people into thinking that they are investing in a new technology when it's nothing more than glorified fiat, I really think that is the next step that governments are going to take, you just need to look at Venezuela and their attempts to create their own cryptocurrency.

But like always their efforts are going to fail, those kind of currencies in which a centralized party can print as much of it as they want are always going to fail because those currencies are not based on sound economic principles, you cannot create wealth by printing money you only create an a scenario in which your currency loses value.

[wingsthegreat21]

I think everybody had their own piece of this negative experience with centralized exchanges over the years. With this DEX hype, I've made my own research, tried like a dozen of those DEX's and Bancor turns out to be the best one for me. I don't like letting another group control my funds or what I can do with them. Centralized versions like Kucoin or COSS that offer a unique earnings model and user incentive will have their place, and the access to $$ markets means places like coin base will be the major gateways into cryptocurrency for the foreseeable future.

[BartS]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

Since bitcoin is a better currency than all of those centralized currencies, it is very likely that a government that decides to adopt bitcoin will not do it for long because they are going to realize that bitcoin eventually begins to supplant its own currency, that is why we see a lot more countries banning cryptocurrencies than adopting them but at the end of the day it doesn't matter even if a country decides to ban cryptocurrencies people are going to use them if they can obtain benefits out of them.

[feehannah]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

People like and enjoy decentralized cryptocurrency but if ever government find a way to make it centralized people have no choice but to accept it and follow the rules and regulations government will implemented.

[concitta]

the concept of bitcoin emergence is decentralization, if from the beginning its spread has entered the realm of centralization, price strengthening and equity will not be as far as now, because the players are only for a handful of people.

But altcoins have different potential where CEOs can have the possibility to integrate with the demands of a centralized state system. but I will continue to believe that they remain on the path of decentralization with various adaptive likelihood ratios.

[marcbitcoins]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

Centralized and decentralized systems both have their own advantages and disadvantages so i think there is no direct significant effect from these two systems to Bitcoin because Bitcoin value will always depend of suppy and demand therefore either centralize or decentralized system just as long the real demand is always there then Bitcoin will always have a future.

[livingfree]

I think everybody had their own piece of this negative experience with centralized exchanges over the years. With this DEX hype, I've made my own research, tried like a dozen of those DEX's and Bancor turns out to be the best one for me. I don't like letting another group control my funds or what I can do with them. Centralized versions like Kucoin or COSS that offer a unique earnings model and user incentive will have their place, and the access to $$ markets means places like coin base will be the major gateways into cryptocurrency for the foreseeable future.

Mate. This isn't a discussion about exchanges but its about the acceptance of government of bitcoin as a legal tender.

You assumed that just because there are the words "decentralized" and "centralized" its about exchanges. It's not about the negative experience of a user from exchanges but your reaction if the government starts to adopt bitcoin and recognizes it.

[Rosesie]

It is clear that people will choose decentralized for cryptocurrencies because of it decentralization and it can not be controlled by anyone or any group.

[Ucy]

Is "Centralized Cryptocurrency" even a thing?

Here are the most important qualities a true Cryptocurrency must have:
A true Cryptocurrency must be decentralized, public, trustless, permissionless, immutable, transparent, uncensorable.
These should also be very important rules of Cryptocurrency which developers must try to stick with. Exchanges ordinarily should not list Cryptocurrencies that Break the rules.

[Uhde]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

cryptocurencies are baseeed on blockchain technology. the most innovative feature of this technology is to provide a decentralized ecosystem for us. decentralization help people against being robbed by banks and any strict authorities.

[r32godzilla]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the governments of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

It would definitely increase the adoption rate o bitcoin as it happened early in Japan. More investors would get confidence in buying and holding bitcoins as there would be no more threats from the government about banning bitcoin.

[SusanAnn]

Cryptocurrency is famous for its decentalization, i don't think it should be centralized someday. If yes, it will soon be destroyed because it threat fiat currency

[dewildance]

Decentralized exchange may be more popular in near future. But trust issue the DEX not easy thing. I think centralized exchanges a little bit more trustable. For now at least.

[Escf4]

If what is good for the organization of the cryptocurrency, then we will be it , if cryptocurrency is designed and being promoted ad a decentralized crypto currency, and it goes very well ,then we support to continue this as a decentralized if this will bring a good effect in the cryptocurrency world.

[wxa7115]

Is "Centralized Cryptocurrency" even a thing?

Here are the most important qualities a true Cryptocurrency must have:
A true Cryptocurrency must be decentralized, public, trustless, permissionless, immutable, transparent, uncensorable.
These should also be very important rules of Cryptocurrency which developers must try to stick with. Exchanges ordinarily should not list Cryptocurrencies that Break the rules.

It isn't a thing right now, but there are very clear indications that governments are looking into this, again we have the government of Venezuela that has released its own centralized coin and there are many countries that have brought the possibility of releasing their own cryptocurrency, I know that it doesn't make sense, cryptocurrencies are supposed to be decentralized and to be independent of banks and governments, but they have such a huge monopoly that they are going to do everything they can to take away as much people and money out of the market of cryptocurrencies and if that means releasing their own coin then that is something that they're going to do.

[BagzMM]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

In my opinion, if any government approved as a legal tender then  we must have to follow what government wants it is for the improvement of our nation. Let us just hope and pray that it will have a good impact to the economy as well as to the people.

[Kevin77]

Is "Centralized Cryptocurrency" even a thing?

Here are the most important qualities a true Cryptocurrency must have:
A true Cryptocurrency must be decentralized, public, trustless, permissionless, immutable, transparent, uncensorable.
These should also be very important rules of Cryptocurrency which developers must try to stick with. Exchanges ordinarily should not list Cryptocurrencies that Break the rules.

That is it. It is not even a thing to be putting cryptocurrency as a centralized entity which is even one of the reasons a lot of people have been skeptical right from the onset when it comes to investing in Ripple. For what it is worth, I believe that no one will always want to discard freedom and want to stick with being enslaved as that is how I see centralization.

Decentralization on the other angle, is more like you being given that control back and you are free to do what you want to do with your activities as long as you are not going against the laws of your jurisdiction, and that is something I will always choose anytime any day over centralization. One of the reasons we are here in the first place anyway.

[0t3p0t]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

Whether or not the government approve Bitcoin as a legal tender it does not matter because of the fact that Bitcoin is a decentralized asset. It's just that they will regulate exchanges to counter the so called money laundering thing and also Bitcoin used in any illegal activities. But even though they has strong implementation of law against Bitcoin or cryptos I don't think they can control it totally.

[PhoenixEmpire]

Governments are established to serve it's people not the other way around. Bitcoin has served as a great tool for store of value and money transfer so if the governments stood against Bitcoin they clearly want to just have total control on citizen. I believe Bitcoin will eventually succeed over every fiat currency it is just the matter of time and people's awareness of Bitcoin.

[drm]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

I don't see any use in a centralized cryptocurrency, I have no idea why anyone would want to partake in a centralized crypto.
You are already partaking in a centralized currency which is fiat, why would you want to invest in a digital fiat?

[babysweetTiger0401]

If bitcoin is approved by the government as a means of payment, it's very good, but on the other hand we don't want to be controlled by the government because it will only create restrictions from the government. The original nature of bitcoin is decentralization, stand alone!

Indeed, that's the beauty of the system of decentralization of bitcoin. Here in my place all bitcoin users are free to do whatever they want it to do with their bitcoin balance to their balance. Then, Bitcoin was also design to store of value as well and sending money where it is one of the features of bitcoin either.

[Freshmen]

It is clear that people will choose decentralized for cryptocurrencies because of it decentralization and it can not be controlled by anyone or any group.

Yes. Centralization brings about control and over the years, people have been able to find out that this is one part of the puzzle that has made things difficult for the general public themselves. Secondly, this should not be something we should even be debating about, because the idea in the first place was to take out the third party and let people have the freedom to spend and do whatever they want with their funds without having to rely on the government or some bank when you are doing your transactions, this way, third party being removed is always one step ahead for better way of doing things, and that is something I believe no one will ever not want to choose over being controlled.

[gabmen]

If bitcoin is approved by the government as a means of payment, it's very good, but on the other hand we don't want to be controlled by the government because it will only create restrictions from the government. The original nature of bitcoin is decentralization, stand alone!

Indeed, that's the beauty of the system of decentralization of bitcoin. Here in my place all bitcoin users are free to do whatever they want it to do with their bitcoin balance to their balance. Then, Bitcoin was also design to store of value as well and sending money where it is one of the features of bitcoin either.

Well there are good positive and negative sides of it of course. As it is, without any government regulations, it's essily a favorable outlet for illegal activities. We all want bitcoin nd crypto to be decentralized but certain rules would have to be implimented to make sure it survives.

[princesspoppy]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

Well the good thing about Bitcoin being decentralized is that people can make transactions without relying to any third party like banks and government. They can easily do things on their own but this also means that they can do illegal things using Bitcoin. When no one monitors the transactions, there are lot of chances that Bitcoin can/will be used in doing illegal activities which can be controlled somehow by government if ever they put some regulations to Bitcoin.

[zubrr51]

More data for failing to fully achieve decentralization, since large investors would not otherwise come to the market.

[deevan]

Due to the decentralized nature of cryptocurrencies make the government to not adopt or support the crypto as means of payment because they are afraid that people may use it for money laundering or other illegal activities which might threaten their country & their economy as they aren't able to track the movement of cryptocurrencies. If they adopt it they will make sure to take necessary steps like they might demand from every exchange to provide the details of every users who are registered on their platform and involved in cryptocurrencies transaction by requiring them to take KYC as mandatory.

[Vaculin]

If bitcoin is approved by the government as a means of payment, it's very good, but on the other hand we don't want to be controlled by the government because it will only create restrictions from the government. The original nature of bitcoin is decentralization, stand alone!

Indeed, that's the beauty of the system of decentralization of bitcoin. Here in my place all bitcoin users are free to do whatever they want it to do with their bitcoin balance to their balance. Then, Bitcoin was also design to store of value as well and sending money where it is one of the features of bitcoin either.

Right.It's much better for bitcoin to remain decentralized because it's the only thing we can execute our freedom to manage our own money and not just rely on banks for safe keeping.If time comes that it will be adopted by the government,i think restrictions will grow on the side of bitcoin and the rest of crypto coins.

[cahbagus555]

Cryptocurrency should be keep decentralized. If crypto become centralized, there is no different with digital money controlled by central banks. Cryptocurrency offering new monetary system and i think crypto is much better if decentralized

[nur rochid]

Cryptocurrency should be keep decentralized. If crypto become centralized, there is no different with digital money controlled by central banks. Cryptocurrency offering new monetary system and i think crypto is much better if decentralized

cryptocurrency is indeed despised by decentralization, this is indeed opposite of current bank syntax. new cryptocurrency innovations that provide a lot of advantages, and it seems that it must remain like that

[galambo]

<Snip>

There are two types of cryptocurrency Currencies
1st: Centralised Currency
2nd: Decentralised Cryptocurrency

There is not centralised cryptocurrency i think that also the currencies which has some of the relations with the government are centralised currencies like the national fiat currency you use.
There is a lot of difference between currency and cryptocurrency.
Understand the difference and you will get your answers.

[Blackdeath]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

For sure, people will go into decentralization that a part away from the government. But the government on the other part will be securing the centralization for the reason that they want to put certain regulations binding cryptocurrency, the people and its government that is said to unite those three avoiding conflicts that can be a negative result of crypto usage that is a good point on the other hand.

[pinoyden]

If bitcoin is approved by the government as a means of payment, it's very good, but on the other hand we don't want to be controlled by the government because it will only create restrictions from the government. The original nature of bitcoin is decentralization, stand alone!

Indeed, that's the beauty of the system of decentralization of bitcoin. Here in my place all bitcoin users are free to do whatever they want it to do with their bitcoin balance to their balance. Then, Bitcoin was also design to store of value as well and sending money where it is one of the features of bitcoin either.

Right.It's much better for bitcoin to remain decentralized because it's the only thing we can execute our freedom to manage our own money and not just rely on banks for safe keeping.If time comes that it will be adopted by the government,i think restrictions will grow on the side of bitcoin and the rest of crypto coins.

being centralized do also have some benifts and advantages like for example if cryptos are centralized and under the control of government , we can now minimize the frauds and other illegal activities because they are now being monitored just like what we currently have on fiats . 

we can also expect a stability of the price and if that happend , many stores will now partner with cryptos . the tax that will charged to us , will also go on some project developments on our country . thats only few of the benefits that i can think of .

[Siren]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

Ofcourse the majority of us are into decentralization,because this is the way we can be safe from third party interference and because of this we become free and enjoying the situation

But we know that the war against governments and cryptocurrency will only end if we become centralized,so they can have the proper income they might get from people,.but this is a long argumentnd I believe wont be answered in just a short time

[bitcoinerjawa]

I think to be safer and more comfortable you can use centralized exchange because I think that using the decentralized method is very vulnerable at times to hacking.

[spongegar]

It is no suprise to us when people hear of news about a president bumping up the value of their currency to "stave" the market when in fact this is just gross fraud in the part of the country. Decentralization prevents that from happening and investors will see how a country really is performing financially and protect their interest.

[jonatuzc]

Cryptocurrency is famous for its decentalization, i don't think it should be centralized someday. If yes, it will soon be destroyed because it threat fiat currency

The reason why people like the decentralized currency is because of the full control they enjoy over their assets. This is very important for them to make decisions according to their own thinking. Government rather is a bit tough on the other side with interest in its own interest and imposing regulation that has reduced the demand for the cryptocurrency immensely.

I of course believe in the decentralization but the economy does not flourish with this and that is the reason why the economy is passing through a bad time

[PizzaBTC]

Cryptocurrency should be keep decentralized. If crypto become centralized, there is no different with digital money controlled by central banks. Cryptocurrency offering new monetary system and i think crypto is much better if decentralized

I like the Bitcoin to keep continue its services in conditions it is, we do not need to change its nature. Decentralization is good for us and now it is up to us to keep our positions secure here for we have upcoming great opportunity of making profit so why we waste our time in complications. Listen it is okay in its own conditions and we do not need any controlling center, centralization may bring sudden changes which is not accepted to users.

[BlueStackz]

I think to be safer and more comfortable you can use centralized exchange because I think that using the decentralized method is very vulnerable at times to hacking.

Formally the decentralized aspect of the cryptocurrency like Bitcoin was more desired and was considered as the property that will allow the users lower cost and escape taxes but this had other disadvantages as well. Right now, majority of the people are talking about imposing regulations and this if on one hand can make the investment a bit more secure and can remove the air of uncertainty is the loss of value on the other hand in the form of tax.

[wxa7115]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

Whether or not the government approve Bitcoin as a legal tender it does not matter because of the fact that Bitcoin is a decentralized asset. It's just that they will regulate exchanges to counter the so called money laundering thing and also Bitcoin used in any illegal activities. But even though they has strong implementation of law against Bitcoin or cryptos I don't think they can control it totally.

This seems to be correct, people put a lot of weight into the approval of governments, but that is not going to change anything at all about the nature of bitcoin or cryptocurrencies in general, so I have never understood what it is the obsession of people with getting the approval of governments, I know that if we got it things will be a lot easier for us and the technology in general but we should not really expect that they approve something that goes against their own interests.

So I think it is way better to assume that we are never going to get a full approval from most governments of the world and that they are going to try to make the subject even more difficult to understand by releasing their own currencies but it doesn't matter because cryptocurrencies are going to be beat them.

[farosa]

In my opinion, the only thing that makes people think is money, it doesn't concern them whether it is decentralized or not. Capitalism has created greed in everybody. Nobody else thinks anything but money. The reason of Bitcoin's creation was not the profit. 

[fakegurutu]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

I will always want to be in a decentralized type of system, thats why bitcoin was created so that no one can control over it. Everything would be fine and free if we are in a decentralized market. No one can manipulate and dictate the course of cryptocurrencies values.

[Tosyn2]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

certainly it will affect the price positively, people will be confident to invest large sum of money of which adoption will increase due to government approval.

[maculeth]

I prefer crypto centralization. because crypto will be better if centered and regulated by the authorities to regulate crypto itself.

[TheClownSong]

I think decentralized is the best option for cryptocurrency. It will keep from controlling supply and for transaction data safety. If centralized, government or company can change their own term. I am prefer choosing decentralized for cryptocurrency because data safety

[trecore4]

If any government approves the BTC as legal tender then it doesn't become very much centralised as you may think like that because they are just giving you permission to use the Bitcoin and do whatever you want to do with it the usual way. This means all the operations related to bitcoin and its use will remain the same and government wont be making any changes to that and they cant do that because its decentralised and thus forbids from doing that. All they can do is impose the external laws, for example, placing the taxes on the trades, making changes to the way we can have limitation on the fiat and crypto conversions etc etc. So bitcoin doesn't really get affected with it if government is making any changes to it.

[squog]

Eitherway, I'd think that governments and businesses will get on yhe crypto currency gave even if crypto currency is decentralized. I'd guess that a country not accepting Crypto currency will make their own so they'll still have a semblance of control, but if adoption is the problem, i would say that it is not i but when.

[bryant.coleman]

What is the point in having a centralized crypto-currency? We already have fiat-based digital currencies such as Paypal and Visa. So what makes a centralized crypto any different from these? The main purpose of Bitcoin is to prevent the monopoly of the central banks. A centralized crypto won't be able to perform that.

[MAJICOIN]

Bitcoin is decentralized currency and it is good feature of bitcoin and crypto and many of users are holding bitcoin which is i like because i am using crypto for many transactions in past i have hired many online softwares for the office i have paid in bitcoin and i like other coins for investment. I like it for decentralize nature.

[geberger]

<Snip>

There are two types of cryptocurrency Currencies
1st: Centralised Currency
2nd: Decentralised Cryptocurrency

There is not centralised cryptocurrency i think that also the currencies which has some of the relations with the government are centralised currencies like the national fiat currency you use.
There is a lot of difference between currency and cryptocurrency.
Understand the difference and you will get your answers.

It can lead bitcoin on the top of trends. Making bitcoin legal can open many things. It can be used world wide without any problems, people pay give low tax.

[ricardobs]

<Snip>

There are two types of cryptocurrency Currencies
1st: Centralised Currency
2nd: Decentralised Cryptocurrency

There is not centralised cryptocurrency i think that also the currencies which has some of the relations with the government are centralised currencies like the national fiat currency you use.
There is a lot of difference between currency and cryptocurrency.
Understand the difference and you will get your answers.

Whole point of crypto was getting out of the banks rule and being just angry about the way governments take care of the way money works. Bitcoin came out as a leftist statement if nothing but without putting much politics into it in general bitcoin came out so that noone would have control over it and people can know and expect what bitcoin will do in bigger sense of the word. Now if take away the decentralized way bitcoin works than there is no point of bitcoin being so successful. It would be just another coin that would be under the control of someone else. Ripple for example has been accused of that for over years.

[Ad Baculum]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

Many people want that cryptocurrency is decentralized because the people don't want to have any interaction with the government and they don't want to be control by the government otherwise they want to be free, because if the crypto is centralized the government may rule crypto so that the people don't want to happen that way.

[Dudeperfect]

I would say that the innovation of decentralized cryptocurrencies has done something that has ever happened in the history of mankind that we are able to trust the group of unknown people more than the familiar faces. Thus it gives us the power to control and manage the projects along with the control and power to amend it. That's why decentralized cryptocurrencies always have something more to offer as compared to that of centralised crypto/currencies.

[Tramle091296]

In now a days Decentraized is much more effective on the investment and also on the business because of the fair and balance traits to both user and developer. most of the Markets is applicable on the Decentralized because this give a low cost on transaction fee also both buyer and seller concers are treats fairs and can suggest on what best on the project. and the you dont need a middle man for your transaction this are the benefits on decentralized.

[rasp]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

The main problem for btc to become a government's legal tender is the absence of regulatory environment which is typical of all other traditional mediums of payment.
The respective legal framework has to be created "from ground zero", as there are no similar historical precedents that might facilitate the process of btc adoption.

[cr7]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

Gold, too, in fact, is not centralized until it is extracted. If the country approves bitcoin, it will clearly begin to produce and increase the number of bitcoins. And this will be followed by a shortage of bitcoin and the price will increase progressively!

[Mahanton]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

Gold, too, in fact, is not centralized until it is extracted. If the country approves bitcoin, it will clearly begin to produce and increase the number of bitcoins. And this will be followed by a shortage of bitcoin and the price will increase progressively!

Increased the number of bitcoins? What the heck! Even how bitcoin would be adopted on a certain country they might have the control but not coming to a point on adding up the supply.Seems like you
don't have much idea on how bitcoin or crypto works basing on the things you are saying on here. Adoption is possible but being centralized is really contrary on whats the true purpose on why crypto is created.

[rafi035]

For me I want decentralization ,I dont want government control us especially in the transaction money.But it also depends if what rule can government gave to us if they are againts on it its better to be decentralized and work it on our own.

maybe with good cooperation and the government only supervises if indeed the government wants to regulate that no one should be harmed and run and cooperate positively of course

[patarfweefwee]

If they did approve of Bitcoin as a legal tender, then all is fine. People will use crypto currency and i know yhe government will earn from its tax but the government themselves will not use crypto currency because it ia decentralized so they can't control it and transparent and they can't hide their illegal dealings.

[kokobaba880]

The only difference in them is the outside control over currencies like Dollar is controlling by a central government the supply and value they measures for every second and if we come to the decentralize nature So crypto comes 1st in our mind and now a days bitcoin is changing world order and it is not controlling by one person or one country.

[promich21]

<Snip>

There are two types of cryptocurrency Currencies
1st: Centralised Currency
2nd: Decentralised Cryptocurrency

There is not centralised cryptocurrency i think that also the currencies which has some of the relations with the government are centralised currencies like the national fiat currency you use.
There is a lot of difference between currency and cryptocurrency.
Understand the difference and you will get your answers.

Also there's highly possibility that people stop using other payment plat forms like. PayPal. Payoneer, or payza etc. Because they apply high fee more than our expectation.

[cintamoni]

<Snip>

There are two types of cryptocurrency Currencies
1st: Centralised Currency
2nd: Decentralised Cryptocurrency

There is not centralised cryptocurrency i think that also the currencies which has some of the relations with the government are centralised currencies like the national fiat currency you use.
There is a lot of difference between currency and cryptocurrency.
Understand the difference and you will get your answers.

Whole point of crypto was getting out of the banks rule and being just angry about the way governments take care of the way money works. Bitcoin came out as a leftist statement if nothing but without putting much politics into it in general bitcoin came out so that noone would have control over it and people can know and expect what bitcoin will do in bigger sense of the word. Now if take away the decentralized way bitcoin works than there is no point of bitcoin being so successful. It would be just another coin that would be under the control of someone else. Ripple for example has been accused of that for over years.

People gives more importance to decentralized because its not controllable where centralized is mostly control by government like fiat, Gold, Silver.  I think after approved Bitcoin as a legal people more use it.

[Ahimoth]

<Snip>

There are two types of cryptocurrency Currencies
1st: Centralised Currency
2nd: Decentralised Cryptocurrency

There is not centralised cryptocurrency i think that also the currencies which has some of the relations with the government are centralised currencies like the national fiat currency you use.
There is a lot of difference between currency and cryptocurrency.
Understand the difference and you will get your answers.

Whole point of crypto was getting out of the banks rule and being just angry about the way governments take care of the way money works. Bitcoin came out as a leftist statement if nothing but without putting much politics into it in general bitcoin came out so that noone would have control over it and people can know and expect what bitcoin will do in bigger sense of the word. Now if take away the decentralized way bitcoin works than there is no point of bitcoin being so successful. It would be just another coin that would be under the control of someone else. Ripple for example has been accused of that for over years.

People gives more importance to decentralized because its not controllable where centralized is mostly control by government like fiat, Gold, Silver.  I think after approved Bitcoin as a legal people more use it.

I prepare decentralized cryptocurrency because no one can control only the creator of it and those investors that have a lot imvest crypto, but sometimes I thinking if there are some regulation before someone create new crypto because nowadays there's a lot is not trustworthy. And I think the reason why many new crypto are coming is because there no regulations before it create.

[finlandais]

I think it should be centralised.Their are many countries which are not accepting bitcoin only because it is not centralised.Due to ban on bitcoin in their countries,investors are not investing in it and this directly lower the price of BTC.Moreover crime will be decreased if it will get centralized.But converting decentralised currency into centralised one is very tough.

[BitcoinCommodor]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

Why would cryptocurrency be centralized when it’s already decentralized and fiat is centralized? They are both the way they are meant to be, and if any country considers Bitcoin a legal tender it does not have any impact cause things will still be the way they are, its still going to end with some countries not accepting it and some accepting it. And that’s how it has been.

[escalante28]

In my humble opinion decentralized coin has only a small advantages to centralized. But for me both token can be manipulate by big whales, they can control the value of it. Big whales can do everything as long there is no limit in each holder. I suggest that each holder should have a limited holdings but the question is how should that be implemented? It won't happen. That is why both token are risky and no assurance but when it come to security, decentralized win.

[Fredomago]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

Why would cryptocurrency be centralized when it’s already decentralized and fiat is centralized? They are both the way they are meant to be, and if any country considers Bitcoin a legal tender it does not have any impact cause things will still be the way they are, its still going to end with some countries not accepting it and some accepting it. And that’s how it has been.

This is reality to embrace, we do not need to change a thing just to be considered, cryptocurrencies needs to stay in its form and from how people understand the usage of the system, government intervention is to protect their citizen not to be being scam and not to threatening their own fiat
system, they need to be outside cryptocurrency, implementation needs to not to interfere with the main purposes.

[jbarcenas18]

Most of us want a decentralized cryptocurrencies other than to centralized. We don't want the government to regulate the cryptocurrency because it maybe use in a bad way.

[rosemary4u]

Decentralization is the best way to go. Government can still have control over the economy of a country even if bitcoin is accepted as a legal tendency or currency in any part of the world. It is based on consensus, we need people to understand how blockchain technology works, so they can appreciate decentralization.

[Captain Sneeze]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

I think the cryptocurrency must be a decentralized because many people in cryptocurrency don't want to be controlled by the government, while if it was a centralized the government can control the cryptocurrency. Yes some government in the other country are accepting or adapting bitcoin but not really accepting that much because they don't want to legal it.

[wxa7115]

What is the point in having a centralized crypto-currency? We already have fiat-based digital currencies such as Paypal and Visa. So what makes a centralized crypto any different from these? The main purpose of Bitcoin is to prevent the monopoly of the central banks. A centralized crypto won't be able to perform that.

There is no point in having a centralized cryptocurrency, but I am completely sure that governments are going to create their own very soon, and many people could ask why that will be the case? And that is because they do not want cryptocurrencies to take all of that market, they will want to create competition to create confusion among people about which coin to adopt, people like us are not going to be confused, we know why we are holding cryptocurrencies in the first place.

But the rest of the people are going to think that a centralized cryptocurrency is better, because they get the advantage of a cryptocurrency with the protection of the government but we know that is simply not true.

[jademaxsuy]

Are there any centralized cryptocurrency? Never heard of that because most of the crypto are decentralized. Anyway, decentralized currency works better if one does want to earn profit by trading. Most of the users who are trading are doing fine with cryptocurrency because it is being decentralized and has more volatile than centralized currency.

[jobukegoya]

I think it should be centralised.Their are many countries which are not accepting bitcoin only because it is not centralised.Due to ban on bitcoin in their countries,investors are not investing in it and this directly lower the price of BTC.Moreover crime will be decreased if it will get centralized.But converting decentralised currency into centralised one is very tough.

For now, cryptocurrency is decentralized with all the benefits enjoyed by bitcoin users. However, many countries reject bitcoin because the state wants centralization with the aim of monitoring bitcoin users and bitcoin price movements, where the state has an interest in taxes and protects against criminal acts.

[KesoNie]

I think it should be centralised.Their are many countries which are not accepting bitcoin only because it is not centralised.Due to ban on bitcoin in their countries,investors are not investing in it and this directly lower the price of BTC.Moreover crime will be decreased if it will get centralized.But converting decentralised currency into centralised one is very tough.

For now, cryptocurrency is decentralized with all the benefits enjoyed by bitcoin users. However, many countries reject bitcoin because the state wants centralization with the aim of monitoring bitcoin users and bitcoin price movements, where the state has an interest in taxes and protects against criminal acts.

For me i prefer decentralized for cryptocurrency because crypto known as being to be like that so once it become centralized possible it price will control of someone who have a lot investment. If crypto remain decentralized it will be better because no one can control. Also nowadays its better to crypto to be decentralized especially in an investment.

[faceoff97]

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

There is virtually no point in adopting centralized cryptocurrencies at least in my opinion, simply because of the fact that it's essentially the same as fiat currency - it's not backed by anything, its supply can be debased, and it's just totally controlled by a single entity.

Your last question didn't make much sense. I'll still try answering it, though. There is going to be no effect on bitcoin itself if it ever becomes legal tender in a particular country, but it will have an effect on those who live in that particular jurisdiction, as the legal definitions of bitcoin may change.

Got your point, in the first place why do we need centralization? Cryptocurrency is made to free us from any third trusted party thus its ntaure is to be decentralized. With or without government intervention, Bitcoin will continue to go on. When government intervene on tge system, we already have no full control over our funds. Centralization may just cause complicated system, so I don't see the for having centralized system. To maximize Crypto feature, don't use banks, closed source wallet or anything that will control your fund. Choose an open source storage lIke HODLER wallet, this makes you have full control over your coin.

[millgates]

The demand of bitcoin will be increase, many investors now are afraid about bitcoin price, the good sentiment will be made by that good news. Decentralization is better then centralization, I am sure that decentralization could lead to the balance of economy. So I am sure that decentralized cryptocurrencies is a solution to the unfair current economy system that use fiat as medium of exchange.

[aervin11]

We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized

The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.

I think that centralized currencies are good for a company in terms of transparency but I doubt it's security because if they are using PoW or PoS masternodes it is still under the same management so they could simply alter that and would just result no good, it's just another expense which is not necessary so my judgement is Centralized Cryptocurrencies aren't good as it's sounds and unproductive.

But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?

Price action. If bitcoin could be adapted by any government and allows it to use and also act as a local currency, I think it could be huge jump to be globally accepted. Domino effect.

[efxtrader]

If government start regulate bitcoin, i think its good for bitcoin and crypto holder. They can spend their bitcoin easily and government have advantages to collect more taxes.
I am believe if government regulate bitcoin and cryptocurrency, government will earn positive effect in many sector like tourism