Is Bitcoin really still decentralized??

[altcointalk14]

I think the main concept of bitcoin is decentralization. For now, there are really many people acquiring and mining it. But of course the process of decentralization is still there, otherwise transactions will be more complex. Its about the fast and efficient service that is the goal for decentralization. Those huge miners are most likely have there own but mostly the process is still the same.

The beauty is that there is no single exchange nor there is a single mining farm that controls or manipulates bitcoin price. There are hundreds of such entities in the bitcoin ecosystem. That's why I think bitcoin is decentralized still in many ways. Even if somebody wants to set up his own mining rig there is no hurdle in that also.

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[TRONTON]

I think until now bitcoin has remained decentralized. although there are indeed groups of people or large whales who can manipulate the price of bitcoin by buying or selling bitcoin in large quantities but they do not fully control bitcoin. because bitcoin price fluctuations are also influenced by FUD news, FOMO and also small bitcoin traders who make sales or purchases I think also affect the bitcoin market. and bitcoin now has a large community so I don't think it's easy to control.

Bitcoin is still rooted in decentralization, but things change when most users make an effort to buy and sell through centralized exchange, so the effect of change lies in the medium, not the original system.

For prices that still appear manipulative, accompanied by fud and fomo, it still makes sense because great interest always has a speculative impact. A greater change will occur if the institution welcomes bitcoin with various intervention steps.

[shoreno]

I still have question about bitcoin being a decentralized system, we all know that bitcoin as a digital cash and it could send bitcoin to anyone using the miners which is the one that process the transaction who owns the blockchain if the transactions were all anonymous there could be someone who maintains the system of the bitcoin or is it just the bitcoin wallet that they need to maintain and just using bitcoin as an assets?

decentralized says it all  . means no one controlls it  .

 yeah you are right that its only the wallet and the miners that do the rest of the job when we send or recieve our btc's    .

btc is really decentralized , no question about that but other people arent contented on what btc has to offer but some of them says that they need btc to become centralized and become regulated , which is i think not  good idea to me  ,  idk why  .

[crossabdd]

I slightly disagree with your intention. greed is not centralization. the owner of a large Bitcoin can't be said to be the center of control. maybe they can move the market. but can't change the bitcoin profile (network, number, algorithm, etc.) because when a person / company can control bitcoin from the inside. then it will be centralized. so, decentralization / centralization is not just about value. not about market movers. but full control over all about bitcoin. so I say Bitcoin remains decentralized.

[BuNga_cute]

I still believe that bitcoin is still decentralized, because no one has been able to control bitcoin until now. Remember to manipulate prices does
not mean controlling bitcoin. And also bitcoin transparent. Everyone can see all the bitcoin transactions that are recorded on the network
blockchain. The last reason why bitcoin still decentralized because bitcoin is very safe because all bitcoin transactions cannot be changed. For
that reason bitcoin until now still decentralized.

[satori1]

I think you certainly have a valid point. I was thinking the same thing about corporations and especially governments like China mining Bitcoins.  I still think it’s technically decentralized because no one government controls Bitcoin and it’s still an open ledger, but mining is no longer something a regular individual can do anymore.

That's exactly what i mean, the main issue is when a company like Bitmain has the potential to take over 1/3 of the total hash-rate things become scarce, China alone has 65% of the hash-rate... it costs the average USA miner around $6K to mine 1 BTC with today's electricity prices, while in china it costs $3K for 1 Bitcoin as they use renewable energy and i dont know what else. If a single company can hold such an amount of Bitcoins that they can for example manipulate the BTC price in the Exchange than the decentralization does not make much sense anymore!

Which is the miner that will keep on mining if the price of BTC falls under $6K, the only one remaining are the one with the lowest electricity price to mine a BTC.

If they can manipulate the price of BTC due to the amount of BTC they own that things are technically not decentralized anymore!

[satori1]

I think the main concept of bitcoin is decentralization. For now, there are really many people acquiring and mining it. But of course the process of decentralization is still there, otherwise transactions will be more complex. Its about the fast and efficient service that is the goal for decentralization. Those huge miners are most likely have there own but mostly the process is still the same.

The beauty is that there is no single exchange nor there is a single mining farm that controls or manipulates bitcoin price. There are hundreds of such entities in the bitcoin ecosystem. That's why I think bitcoin is decentralized still in many ways. Even if somebody wants to set up his own mining rig there is no hurdle in that also.

I cant really agree with your view on this, as there are clear main players in the ecosystem and the biggest of them all is Bitmain, Anyone mining for profit in farms use their miners who are already outdated once they are sold to the public... Bitmain already uses miners that are far more powerful then the one used by  conventional mining farms, its a joke, they proved it with ETH at that time when everyone believed that Ethereum was Asic resistant  ...  They have dozens of mining farms across China and recently one in USA Texas, they do control a huge stack of the market believe it or not, they will get rid of mining farm competitors just wait an see!

[satori1]

Miners does not own the bitcoin network.
Bitcoin is still decetralized what is currently centralized are exchange websites and the whole mining industry. Because there are people or group of people who owns various exchange and mining company. So totally the whole bitcoin network is still decentralized for sure.

It is just that, people, businesses, and projects to their best to make bitcoin a center for profits that is why it seems so centralized. But in fact, the way you hodl and store your bitcoin is a sign that bitcoin is still decentralized. This decentralization will just be taken out if you are to allow them to do so, especially if the freedom you have turns you out to invest your money and trade it to centralized exchanges where you don't have your private keys that solely make your account decentralized.

That's absolutely spot on! It's like exchanges and Big mining farms are able to get together and create a sort of conglomerate!

[Distinctin]

Market manipulation is inevitable at this time, cryptocurrency is a big market as I think which we could think that some influential individual would likely to show it's power. Above all, and even bitcoin was meant to have some manipulation but I keep believing that bitcoin still remains to it's decentralized form.

I also believe that bitcoin has a high decentralization nature but the market sometimes says different things, there are quite a lot of manipulations for the price. we must be careful of these price manipulations because those who can manipulate prices are big whales

Ther can easily manipulate the price but trying to manipulate the entire market seems to be impossible. But whom to get these benefits, of course not only the whales but also we are especially when the price went high and earn profits. May we condemn their actions but actually, we are so thankful that because of them (whales) the market remains strong.

[bitcoindusts]

After the years in trading Bitcoin it came more and more clear to me that Bitcoin is technically not decentralized anymore... its mainly owned by huge mining farms or early adopters who are able to manipulate the market at will, many exchanges playing with Bitcoin and Altcoins by making fools out of the normal Joe who wants to enter the Crypto world, i know many here will think that you should be ready and get informed before taking any step into the crypto world, but does it not bother anyone that some people are enriching them self by kicking the crap out of your wallets??


Bitcoin Mining is dead unless you own a mining farm with the necessary hashrate, again only big companies having access to Bitcoin!!!


What is your thought about this??

I still have question about bitcoin being a decentralized system, we all know that bitcoin as a digital cash and it could send bitcoin to anyone using the miners which is the one that process the transaction who owns the blockchain if the transactions were all anonymous there could be someone who maintains the system of the bitcoin or is it just the bitcoin wallet that they need to maintain and just using bitcoin as an assets?

I think the transaction is not anonymous because anyone can trace it on the blockchain.  Though I still believe Bitcoin is still decentralized even though the distribution is not proportional.  Anyone can mine Bitcoin as long as they have good enough hashes to compete on the mining industry.  Anyone can send Bitcoin without anyone interfering it as long as the tx fee is sufficient.  I believe being decentralized and not proportional distribution is two different category.

[michellee]

Market manipulation is inevitable at this time, cryptocurrency is a big market as I think which we could think that some influential individual would likely to show it's power. Above all, and even bitcoin was meant to have some manipulation but I keep believing that bitcoin still remains to it's decentralized form.

I also believe that bitcoin has a high decentralization nature but the market sometimes says different things, there are quite a lot of manipulations for the price. we must be careful of these price manipulations because those who can manipulate prices are big whales

Ther can easily manipulate the price but trying to manipulate the entire market seems to be impossible. But whom to get these benefits, of course not only the whales but also we are especially when the price went high and earn profits. May we condemn their actions but actually, we are so thankful that because of them (whales) the market remains strong.

I think the same as all of you. Although bitcoin is decentralized, it will not be a problem, and the manipulations for the price will not happen forever. There will be a real moment from traders that can move the price, and that will not depend on the whales. But yes, the whales can manipulate the market, but they cannot do it forever for their purposes. We can use the benefits by following their movements so we can make a profit too.

[fiulpro]

Hey
Well the thing is , in bitcoins there is just one rule
*The more you hold , the more control you have over the market.*
That seems reasonable too , also whales and everything they are gonna be there , firms and companies holding bitcoins and talking it out with each other to sway the market and make some profit , it happens , it's politics that people made here , not the bitcoins , therefore I think , it's not the bitcoins you need to worry about , it's the people.

[aomakun]

Market manipulation is inevitable at this time, cryptocurrency is a big market as I think which we could think that some influential individual would likely to show it's power. Above all, and even bitcoin was meant to have some manipulation but I keep believing that bitcoin still remains to it's decentralized form.

I also believe that bitcoin has a high decentralization nature but the market sometimes says different things, there are quite a lot of manipulations for the price. we must be careful of these price manipulations because those who can manipulate prices are big whales

Ther can easily manipulate the price but trying to manipulate the entire market seems to be impossible. But whom to get these benefits, of course not only the whales but also we are especially when the price went high and earn profits. May we condemn their actions but actually, we are so thankful that because of them (whales) the market remains strong.

I think the same as all of you. Although bitcoin is decentralized, it will not be a problem, and the manipulations for the price will not happen forever. There will be a real moment from traders that can move the price, and that will not depend on the whales. But yes, the whales can manipulate the market, but they cannot do it forever for their purposes. We can use the benefits by following their movements so we can make a profit too.

the whales also won't always succeed in price manipulation, I'm also sure about that. Price manipulation will not be as easy as we think, because truly pure market price movements will always be their challenge. but if you want to go with the flow we might be at risk because you need accuracy, because price manipulation will happen quickly

[Darker45]

Hey
Well the thing is , in bitcoins there is just one rule
*The more you hold , the more control you have over the market.*
That seems reasonable too , also whales and everything they are gonna be there , firms and companies holding bitcoins and talking it out with each other to sway the market and make some profit , it happens , it's politics that people made here , not the bitcoins , therefore I think , it's not the bitcoins you need to worry about , it's the people.

This is correct. However, lest we assume that decentralization in Bitcoin means rich people can control over the market, huge mining farms can dictate on the network, in other words certain players can influence more on Bitcoin, let us remember that decentralization is not about all these things. It could also mean those but that is only after stretching decentralization a bit. Decentralization in Bitcoin is basically the lack of a central authority. There is decentralization because there is nothing in between transactions; everything is done on a peer-to-peer basis. There is decentralization because there is no central entity or authority that decides on its fate.

[posi]

Hey
Well the thing is , in bitcoins there is just one rule
*The more you hold , the more control you have over the market.*
That seems reasonable too , also whales and everything they are gonna be there , firms and companies holding bitcoins and talking it out with each other to sway the market and make some profit , it happens , it's politics that people made here , not the bitcoins , therefore I think , it's not the bitcoins you need to worry about , it's the people.

This is correct. However, lest we assume that decentralization in Bitcoin means rich people can control over the market, huge mining farms can dictate on the network, in other words certain players can influence more on Bitcoin, let us remember that decentralization is not about all these things. It could also mean those but that is only after stretching decentralization a bit. Decentralization in Bitcoin is basically the lack of a central authority. There is decentralization because there is nothing in between transactions; everything is done on a peer-to-peer basis. There is decentralization because there is no central entity or authority that decides on its fate.

Youre both right. People somehow misunderstood the decentralization in nature of bitcoin which is the reason why some declared bitcoin to fail in the aspect of decentralization due to whales manipulation and decentralization simply mean having equal privilege but the higher holder or investor still have the control capability than others.

[Jalinayr]

I think yes because Bitcoin is working like before as of now so that many rich people can control the of it.

[lenovop-70]

I agree it is not decentralized as farr as mining is concerned and many people cannot take part due to capitalization of mass mining factories. The little guy has no chance. This was not the vision of bitcoin. Bitcoin was ment to bring profit on even the most basic pc. Of course someone will invent an asic just like people will invent bots to do manual tasks over and over. It would be great if anyone could just mone but so far we have no solution to it and even other coins that only use CPU there seems to be no profit.

Agreed with you my friend, little guy like me, privately, abviously dont have any chance here anymore, it is too hard to say it, but it is the fact happened now, oh i wonder bitcoin will rise and give me more chance like couple years last. im too emotional to say this, im sorry my friend

[andriarto]

Hey
Well the thing is , in bitcoins there is just one rule
*The more you hold , the more control you have over the market.*
That seems reasonable too , also whales and everything they are gonna be there , firms and companies holding bitcoins and talking it out with each other to sway the market and make some profit , it happens , it's politics that people made here , not the bitcoins , therefore I think , it's not the bitcoins you need to worry about , it's the people.

This is correct. However, lest we assume that decentralization in Bitcoin means rich people can control over the market, huge mining farms can dictate on the network, in other words certain players can influence more on Bitcoin, let us remember that decentralization is not about all these things. It could also mean those but that is only after stretching decentralization a bit. Decentralization in Bitcoin is basically the lack of a central authority. There is decentralization because there is nothing in between transactions; everything is done on a peer-to-peer basis. There is decentralization because there is no central entity or authority that decides on its fate.

Youre both right. People somehow misunderstood the decentralization in nature of bitcoin which is the reason why some declared bitcoin to fail in the aspect of decentralization due to whales manipulation and decentralization simply mean having equal privilege but the higher holder or investor still have the control capability than others.

at first I also had a thought, that whales can control the market, meaning the decentralization in question is not working. but that is not what is meant by decentralization, they only take advantage of opportunities to get money, especially since not many people use it so that the supply can be controlled by a group of people

[Polar91]

I think until now bitcoin has remained decentralized. although there are indeed groups of people or large whales who can manipulate the price of bitcoin by buying or selling bitcoin in large quantities but they do not fully control bitcoin. because bitcoin price fluctuations are also influenced by FUD news, FOMO and also small bitcoin traders who make sales or purchases I think also affect the bitcoin market. and bitcoin now has a large community so I don't think it's easy to control.

I think the case here is not the large groups that could basically control or manipulate the price of bitcoin. What is important to determine decentralization is the freedom of individuals to control their money and spend it with their own purpose. In the first place, the security of bitcoin and the main characteristic of it is still there which is to use a currency without any third parties that will interfere or will serve as a mediator for their transactions.

[Emitdama]

Imagine that you happen to invest at a cheap rate and then all of a sudden the price levels up to 10x the rate that you bought at, isn't that a profit for you? Yes it is. Bitcoin was created as a volatile coin, and when there is an increase in the demand, the price keeps leveling up to match the demand and the early birds starts benefiting from it, but that doesn't mean that it is still not decentralized.

Bitcoin is still decentralized, because there is nobody, organization, government or whatsoever that controls it. If you are too afraid to use it, you can make use of stable Coins like USD PAX and the rest of them.