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Author Topic: Centralized or Decentralized for cryptocurrencies?  (Read 2241 times)
jademaxsuy
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October 11, 2018, 04:22:08 PM
 #141

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.
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November 02, 2018, 01:14:29 PM
 #142

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.
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November 02, 2018, 02:37:36 PM
 #143

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.
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November 03, 2018, 01:16:15 AM
 #144


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.
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November 03, 2018, 01:27:36 AM
 #145

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
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November 03, 2018, 01:33:48 AM
 #146

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.

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November 03, 2018, 06:37:48 AM
 #147

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

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