Centralized or Decentralized for cryptocurrencies?

[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.