Is Bitcoin really still decentralized??

[agentx44]

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??

We all know bitcoin's nature is being not under any organization or government groups control or manipulation which makes the fees on transaction less expensive is called decentralization. As year passes by, it's definition changes as more and more mining company show up which take over the mining of bitcoin and affecting it greatly since their demand has a high number and high effect on bitcoin. The meaning of being decentralized has already changed as they conduct and build more and more mining company while manipulating bitcoin's price.

[GAGANGSAPU]

Do you really understand what decentralization means? Decentralization is a system in which overall decision making is left to the system user and the absence of one individual can impose his will on other individuals without the consent of the majority of system users. Bitcoin is still the most decentralized cryptocurrency because it has an extensive network and the largest and most decentralized development community with hundreds to thousands of contributors.

[bitbunnny]

Well, I'm rather confused when  this question is involved. Bitcoin users very often point out that Bitcoin is independent and decentralized and but every time or almost every time when price goes down many of them say that this is product of whales manipulation. So, if Bitcoins is independent and decentralized how come that minority group of people has so big influence on price and can manipulate it according to its wishes?

[electronicash]

price has nothing to do with decentralization.

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??

We all know bitcoin's nature is being not under any organization or government groups control or manipulation which makes the fees on transaction less expensive is called decentralization. As year passes by, it's definition changes as more and more mining company show up which take over the mining of bitcoin and affecting it greatly since their demand has a high number and high effect on bitcoin. The meaning of being decentralized has already changed as they conduct and build more and more mining company while manipulating bitcoin's price.

probably so. they all still has to race to solve blocks. pools and big mining farms competes. yet no entity is governing bitcoin, the big mining companies that are there today can they invalidate the previous transactions with their hashrate?

if NOT then bitcoin still is decentralize and can go on stand on its own. why would companies support a coin and one of them to the extent of delisting all else except BTC if its centralize.

[Bonenx14]

Well, I'm rather confused when  this question is involved. Bitcoin users very often point out that Bitcoin is independent and decentralized and but every time or almost every time when price goes down many of them say that this is product of whales manipulation. So, if Bitcoins is independent and decentralized how come that minority group of people has so big influence on price and can manipulate it according to its wishes?

but for me the nature of bitcoin is decentralized, whereas market manipulation is somewhere else. and I don't think market manipulation will always happen because of pure bitcoin price movements. when the use of bitcoin is not used properly it may be that market manipulation will continue to occur and make people confused about the decentralized nature of bitcoin

[AliMan]

Well, I'm rather confused when  this question is involved. Bitcoin users very often point out that Bitcoin is independent and decentralized and but every time or almost every time when price goes down many of them say that this is product of whales manipulation. So, if Bitcoins is independent and decentralized how come that minority group of people has so big influence on price and can manipulate it according to its wishes?

but for me the nature of bitcoin is decentralized, whereas market manipulation is somewhere else. and I don't think market manipulation will always happen because of pure bitcoin price movements. when the use of bitcoin is not used properly it may be that market manipulation will continue to occur and make people confused about the decentralized nature of bitcoin

At first I don't want to believe the market manipulations, but what's happening nowadays proved it already. That was being played by biggest investors who had a huge capitals, they can manipulate using their powers and connection. FUD was arising while bitcoin tried to recover, and the market transparency has not begun to show it's unpredictable trend which has been dominated seriously. Decentralized bitcoin was still there, and for its kind it has more potential to initiate more spikes and bounce.

[paskah01]

Depends on what is your interpretation of "Decentralize" and "centralized"

[makishart]

At first I don't want to believe the market manipulations, but what's happening nowadays proved it already. That was being played by biggest investors who had a huge capitals, they can manipulate using their powers and connection. FUD was arising while bitcoin tried to recover, and the market transparency has not begun to show it's unpredictable trend which has been dominated seriously. Decentralized bitcoin was still there, and for its kind it has more potential to initiate more spikes and bounce.

Even gold can be manipulated despite having huge market capitalization therefore it's a no brainer that manipulation could happen to significanly lower market cap like bitcoin and it's just a piece of cake. What become our concern right now is the centralized mining power, but I'm sure the mechanism of bitcoin's blockchain could handle this problem very well just let the time prove it.

[paskah01]

IMO the fact that the strongest processing system could take over the minority is not decentralizing but cmiiw

[djsugar]

If you look it that way, bitcoin was never decentralized. The main problem with the decentralisation is that anyone can buy whatever amount they want.

So, the initial investors or who had enough money were able to acquire a lot of btc and now they are millionaires or billionaires just because of that. Those people can easily manipulate the market as there isn't any centralized authority too to check upon them. Added to that, exchanges who have all the data about the stops and entry price of trades, can manipulate the trade as well.

[Wintersoldier]

If you look it that way, bitcoin was never decentralized. The main problem with the decentralisation is that anyone can buy whatever amount they want.

So, the initial investors or who had enough money were able to acquire a lot of btc and now they are millionaires or billionaires just because of that. Those people can easily manipulate the market as there isn't any centralized authority too to check upon them. Added to that, exchanges who have all the data about the stops and entry price of trades, can manipulate the trade as well.

There are some decentralized exchange in the market right? Why not to utilize it instead of being involved in a centralized exchange if you don't want to pay transaction fees and to be so called "manipulated"? In addition, huge investors aren't really just affecting the market too strong, yes they are buying and selling huge amount of bitcoin, and what happens is that, the people who can see their activity do the same things until everyone in a community is doing, so it is not them that really control the market but with the participation of the people like us.

[leetcoiner]

If Bitcoin were centralized, the government would probably already have used Bitcoin and its price would have been stable long ago.

[BTCisNOcrap]

Re: Is Bitcoin really still decentralized??

Yes, it is the best decentralized system on this planet as it is well distributed, open and for everyone accessible.
@Satoshi Nakamoto: Distribute the early mined coins and make Bitcoin stronger. We need your support.

[finaleshot2016]

If Bitcoin were centralized, the government would probably already have used Bitcoin and its price would have been stable long ago.

Seriously? The reason why it's ATH was $19,665.39 during 2017 bull run is because of it's decentralized. Now if you make bitcoin as a centralized then what will happen. The higher officials will just abuse it and use it to useless or personal desires. Bitcoin was very powerful now, why did you end up thinking that centralization will help bitcoin to grow? 

[Asuspawer09]

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??

Bitcoin was a decentralized technology we know and it kinda confusing. The bitcoin technology was created or made by Satoshi when is now used in a lot of bitcoin wallet.
It is not like the bitcoin wallet or the company is the one who is controlling the bitcoin but they just using bitcoin as an asset storing bitcoin, Also the transactions happened in the blockchain every transaction was made is processor powered by every miner's hash power and they are getting a reward from doing this there is no government that controlling this bitcoin because it is powered by the community and the market price is also depending in the supply and demand of bitcoin.

[Prateek_sharma]

Yes of course bitcoin is a decentralized cryptocurrency, as the popularity of the bitcoin is rising continuously in the crypto market.

[The Cryptovator]

Straight answer of your topic title is Yes. Bitcoin is a decentralized crypto currency from beginning and still it is. Concern is, day by day some organisations like exchanges acting that they are controller. But it doesn't mean Bitcoin it self is centralized. Problem is centralized exchanges want to manipulate as they like and the fucking KYC system is clear sign of centralisation unfortunately. It was not really aim of Bitcoin, it was created for enjoy financial freedom without third party involvement. But seems always third party want to bashing it. Don't feel that bitcoin going to centralized itself, it will not happen ever in my opinion.

[f2f.mirrors]

What is your thought about this??

You've mixed up some things, I believe.

In the same was money distribution in the world is not uniform, in the same way Bitcoin distribution is not uniform. Some were luckier, some had money to invest, some have missed the train.

But this is is not related to mining. Bitcoin mining has became a business, indeed, average Joe cannot mine anymore. On the other hand this is good, helping blockchain safe against attacks and this also keeps the price high, so some of the "average Joe" can invest and gain (although, as said, this doesn't happen in many cases, but I'll get to this too).

And all this is is not related to decentralization as known for Bitcoin. Bitcoin decentralization is about how many full copies of the blockchain there are, it's about the full nodes and the number of mining pools. And these are fairly dispersed and decentralized.

Now about your concerns:

* Market manipulation is indeed bad, but isn't this concern out of greed "you want a piece too"? Bitcoin should be a coin, not necessarily an investment. Also the average Joe doesn't afford investing, this is the sad reality in the world. Bitcoin is not about easy money.

* Bitcoin mining is not dead. Just may not be a good business for average Joe. And we get back to the greed part.

* You are unhappy about the scams. Isn't like this everywhere in the world? The world is full of fake shops, of people trying to steal from you and so on. Here there's no difference, that's why one has to inform himself before trying this or that.

Good point.
Definitely agree with you!

[f2f.mirrors]

What is your thought about this??

* Bitcoin mining is not dead. Just may not be a good business for average Joe. And we get back to the greed part.

I have been working on finding a consensus algo that is easier to participate in mining.
Compared to the high threshold of Bitcoin mining, it may achieve market success.
It may be the fairest and easiest for "average Joe" if normal PC can be used for mining.
Do you have an idea for an algorithm with this characteristic？

[arimamib]

Straight answer of your topic title is Yes. Bitcoin is a decentralized crypto currency from beginning and still it is. Concern is, day by day some organisations like exchanges acting that they are controller. But it doesn't mean Bitcoin it self is centralized. Problem is centralized exchanges want to manipulate as they like and the fucking KYC system is clear sign of centralisation unfortunately. It was not really aim of Bitcoin, it was created for enjoy financial freedom without third party involvement. But seems always third party want to bashing it. Don't feel that bitcoin going to centralized itself, it will not happen ever in my opinion.

I also believe that to date bitcoin is still decentralized, and what makes bitcoin a centralized response is when bitcoin is on the market. when in the market people who have lots of funds make the view that bitcoin is governed by a group or organization. but I am sure that bitcoin is still decentralized and will always be decentralized