Decentralization System Effects

[HomeOfCoins]

Having been on the platform and seeing section of the forum made mentioned of Scam project. At the same time, seeing a host of projects, who probably started their journey, Right here on this forum, but are all successful today. it beats my heart to say, How amazing the blockchain industry has become, Impacting and changing lives positively. Using a technology with features such as Transparency, Instant Money transfer, Traceability, Security. Its really amazing. But whenever I think of this Industry, this question comes to my mind,
1. How long will Decentralized system survive
2. How secure is it
3. What negative effects is it giving to our societies
4. Is it really encouraging the growth of our various Economics
5. Will the Government ever embraced Decentralized system

[mk4]

1. If you're referring to Bitcoin, as long as one full node exists, Bitcoin will continue to exist.
2. Secure enough to have 99.9%(one incident in the past iirc) up time, and secure enough that no one managed to steal Satoshi's funds.
3. 🤔
4. 🤔
5. No one knows, but it doesn't matter now. We're at a point that Bitcoin is big enough that though authorities can illegalize the ownership of bitcoin, they can't shut it down.

[GreatArkansas]

(....)
5. Will the Government ever embraced Decentralized system

For me, we cannot say that all government are favor or embracing decentralized system especially the Bitcoin.
What I can see is, if they support it and use it, it is much better and transparent to their people, there's nothing to hide.
But if they refuse or not favor on it, there's something problem for them or they have their reasons for sure.

[madnessteat]

1. If we talk about the decentralized system on the example of Bitcoin, it is not threatened and it will exist as long as the miners work or the consensus algorithm does not change.

2. Security depends more on the knowledge of the person who uses Bitcoin.

3. Personally, I do not see the negative consequences of using decentralized systems.

4. Decentralized systems can not only improve many industries but also get rid of the bureaucracy that hinders economic development.

5. Governments do not mind using decentralized systems as long as they can control them.

[squatter]

If you're referring to Bitcoin, as long as one full node exists, Bitcoin will continue to exist.

I sure hope it doesn't come to that.

Technically, Bitcoin would still exist even if there were no nodes. POW blockchains can't be destroyed. Even if Bitcoin went completely abandoned for years, a node could come back online and begin mining the next block at any time.

I remember doing that years ago with a dead altcoin. I had to mine the chain myself just to confirm my own transaction.

[sheenshane]

In addition to replies above.

1. Ain't so sure how long would it survive. The decentralization is currently getting so much attention from governments around the world. Since yes, even though there is a lot of things that makes decentralization impact lives in the positive way. There is still a number of negatives that are really needed to be stopped. (the Cybercrimes and money laundering)

2. More than secured. However, there is a least chance that government will lock all the custodial wallets by not letting people use theirs and stop them liquidate their assets. They can't convert from crypto to fiat or vice versa.

3. If may number 2 happens, there is a lot of people who will be hurt big time including those companies of all custodial wallets that may regulate by governments.

4. Not so much. Some countries see it as a threat. Revolution is too expensive for the government and the current businesses. Disruption will never be cheap.

5. This one is a big topic. Too much argument for this one and no one can guarantee it. But the chances of the Government embracing it
is small (luckily here in our country we freely use crypto even it is not declared by the government that it is legal). As I said to my number 4, some see it as a threat.