Centralized or Decentralized for cryptocurrencies?

[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.

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[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.