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Author Topic: Centralized or Decentralized for cryptocurrencies?  (Read 753 times)
wxa7115
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September 01, 2018, 04:04:09 AM
 #21

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.
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September 01, 2018, 05:27:30 AM
 #22

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.

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September 01, 2018, 05:41:52 AM
 #23

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. 

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September 02, 2018, 04:58:33 AM
 #24

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 ?
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September 02, 2018, 05:36:22 AM
 #25

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.
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September 02, 2018, 08:09:53 AM
 #26

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
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September 02, 2018, 11:16:41 AM
 #27

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

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September 02, 2018, 12:35:24 PM
 #28

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.

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September 02, 2018, 12:45:16 PM
 #29

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.

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September 02, 2018, 02:43:28 PM
 #30

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
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September 02, 2018, 02:44:18 PM
 #31

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.

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September 02, 2018, 02:51:37 PM
 #32

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.
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September 02, 2018, 02:55:54 PM
 #33

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.

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September 02, 2018, 03:09:11 PM
 #34

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.

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September 02, 2018, 03:10:36 PM
 #35

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;
Quote
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.

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September 02, 2018, 03:25:58 PM
 #36

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.

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September 02, 2018, 03:37:23 PM
 #37

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
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September 02, 2018, 03:44:40 PM
 #38

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.
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September 02, 2018, 04:26:56 PM
 #39

Some government of some countries have accepted cryptocurrency in their country making it legal there. And I believe that it's the adaptations of cryptocurrency is this countries that might have increased the price we might have experienced in some months. So therefore, if more countries accept bitcoin, there is a possibility of more price increase.

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September 02, 2018, 05:22:05 PM
 #40

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.
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