Can Bitcoin become a true decentralized currency?

[Auroraner]

The whale manipulates its value and is so easily manipulated. Is this decentralization?

[Charles-Tim]

No coin can be decentralized like Bitcoin, a coin that its price and value are not controlled by the government or any other central body, the price of bitcoin is only affected by people that uses it as most bought will result to increase in price while most sold will result to decrease in price. It is not also like many altcoins that can be easily manipulated, be it anything you called it, people adopt Bitcoin, that has been what keeps its price increasing ever since it was created up till now and also the future is promising. Bitcoin is not like others cryptocurrencies, Altcoins that have known creators, Bitcoin was created by Satoshi Nakamoto that is completely anonymous, not having any control over the coin like burning, anything that has to be implemented on bitcoin has to be proposed and will be included in BIP. So, I see Bitcoin as a decentralized currency, and indeed it is a decentralized currency.

[NeuroticFish]

The whale manipulates its value and is so easily manipulated. Is this decentralization?

1. Bitcoin is decentralized. This means that its network is decentralized. Get offline some miners and everything will run. Get offline some nodes and everything will run. No central point (of failure).
2. Bitcoin price is not related to decentralization. And even though it may be indeed manipulated, the manipulation is far from easy to be done.

[Chato1977]

The whale manipulates its value and is so easily manipulated. Is this decentralization?

Not because there are cases of manipulation meaning it is not decentralized , it is the stupid weeks that makes manipulators succeed so Blame them and not the decentralization of Bitcoin.

[Shenzou]

The whale manipulates its value and is so easily manipulated. Is this decentralization?

You have to take in consideration the fact that bitcoin and cryptocurrency are a multi billion dollar industry, bitcoin is on its way of becoming the first in terms of investments, and for this type of market to be manipulated it is not an easy thing to do, poeple have been always been talking about the fact that bitcoin is not truely decnetrelized due to the fcat that china holds a large portion of the mining power there, thereore the chinese could easily manipulate the prcie, but with china out of the way and the governement slowly taking sever actions against bitcoin mining, that idea is going to be out of the way and bitcoin could be truly decentrelized.

[Kong Hey Pakboy]

Yes it is the effect of decentralization, with no central figure that oversees or controls the market which means that it's a free for all. I don't think that it's a bad thing that someone controls the market because no matter what, they wouldn't be able to totally control it because no one can become a central authority in a decentralized platform.

[ABCbits]

If your definition of "decentralized" on cryptocurrnecy is the price can't be manipulated, then only stable coin is "decentralized"

[Jasper HODL]

Bitcoin is an absolutely decentralized token. I once had the same question as you. If the price of Bitcoin can be easily controlled by whales, how can it be said that it is decentralized? In fact, the problem itself is wrong. Whales can affect the price of Bitcoin, but it is difficult to control the price of Bitcoin.

The price of Bitcoin is imposed on Bitcoin based on the legal currency standard, and the exchange rate is given to Bitcoin in order to facilitate transactions. However, Satoshi Nakamoto has never defined a price for Bitcoin, and it is not his inherent attribute that Bitcoin is equal to 30,000 US dollars. Putting aside the U.S. dollar to look at Bitcoin again, it is not controlled by anyone. His network is composed of miners and nodes. Everyone can become a miner and create a node. As a token, it is completely decentralized.

[joniboini]

I don't think you can avoid some people controlling one or two markets tbh. The system itself is not controlled. You can easily create your own trade market to fight with those wales if you wish to do so. But as others have said, if decentralization == price, then you're looking at the wrong picture.

[pixie85]

Decentralization is one thing, but there's also the free market with its supply and demand.

Whales can manipulate the market but they also take much greater risk than you. They need enormous amounts of fiat currency to be able to crash the market. 100 million USD is not much when you try to influence bitcoin.

Also, to sell they need to buy first. Do you have 100 million USD in bitcoin? If you had it would you risk it and hold it on exchanges to earn 10% a month trading it?

It's easy to say whales this or whales that, but how many of us know anyone who's even cloise to being a whale. We hear about people like Michael Saylor, Dan Morehead and others, but are they really manipulating the market? They are long term investors, so who are this whale players? Jamie Dimon?
I think people are using this term to explain market sentiment. Sometimes it's not whales but overleveraged traders getting destroyed.

[the rise]

Bitcoin cannot fully become decentralized, especially if it talks about price, because the price is very easy to manipulate, but in terms other than price, it can be said that bitcoin is already fully decentralized.

[GeorgeJohn]

It's obvious right from time that bitcoin is decentralized, that's the factor that made it not to be easily manipulate, just relating it or comparing it to other cryptocurrencies, especially bitcoin in particular, you will observe that bitcoin have higher security potential than any other currencies, now looking at fiat currency its very clear to the blinds and very audible to dealf that fiat can be easily manipulated, that's the reason while government can work down on fiat, and the major purpose fiat can be manipulate is because its centralized currency, from my observation via bitcoin while btc never been hijacked by the government is because it's a true decentralized currency, and no one controls or regulate its values in the market, it only determine it's values through market demand and supply.

[Tumanggor]

The whale manipulates its value and is so easily manipulated. Is this decentralization?

which whale, do you know one of them?
Bitcoin is the truly decentralized coin in the world, nothing can match it

Price changes that occur in Bitcoin are purely due to supply and demand in the market
when many people are selling or buying then the price of Bitcoin will change and this looks like a manipulation of what you mentioned "whale" which in fact never existed

[bryant.coleman]

What is the relation between manipulation and decentralization? I don't understand. Decentralized currencies can be manipulated. Decentralized just means that the currency is not controlled by any central entity. But that doesn't mean that whales and institutions can't manipulate its exchange rates, by playing in the market. Even centralized currencies can be manipulated. But this sort of manipulation is mostly done by the central banks and the other national agencies. For example, the Chinese Yuan is sometimes referred as the most manipulated national currency in the world.

[kryptqnick]

I think Bitcoin is already decentralized enough. There's a network of miners without any central point to it. And there's also a community of Bitcoin users, which also has no authority that controls the supply and thus the price of Bitcoin. Sure, there are big holders who have more power than small holders. However, manipulating the price even a little requires tons of resources, and the effect is always temporary anyway. Till this day, I see no proof that there are some whales which conspire with one another and create serious disruptions by their actions. Whenever there's hype around whale alerts, it often turns out that it was actually just an exchange moving its funds or something like this. I think that influential people with millions of followers have more impact on the price than rich holders, but even their influence is temporary.

[dkbit98]

Nothing to become here, Bitcoin is already decentralized and distributed all around the world, without CEO and without office space, people run Bitcoin nodes everywhere.
There will always be whales in any assets and price manipulations will always exist but that does not affect decentralization in Bitcoin, and there is no single person or group of people that can control Bitcoin, even if some would like to control it very much.

[sapnu]

The whale manipulates its value and is so easily manipulated. Is this decentralization?

The whales aren't the only individuals that hinders bitcoin from becoming a true decentralized currency but also the existence of the government and the law in each and every country in the world. We are all aiming or hoping that someday sooner, bitcoin and other crypto will be accepted by the world hence we know that the government are the only ones capable of allowing such thing to happen. The nation's voice wouldn't make it possible no matter how much they protest of revolutionize about it so we will be forced to settle and obey the rules they will give about the regulation of crypto that will surely remove its decentralization at some point.

[avikz]

The whale manipulates its value and is so easily manipulated. Is this decentralization?

Do you have a proof that whales are manipulating the crypto market? This can very well be a popular belief and may be far from reality. Till date we haven't seen any legit proof where the whales have manipulated the market. Obviously Elon Musk did and now his company's bitcoin holding is running in negative.

I don't think we have any other assets available which are greatly decentralized like bitcoin.

[ten seventy]

No one manipulated bitcoin and is completely decentralized. I agree only on the part that whales can greatly affect or influence bitcoin market with their huge holdings. Still bitcoin for me is a well balance sytem may it be you have huge holdings or small asset holdings.

[noorman0]

Bitcoin will remain decentralized in existence. It is not about values that can be manipulated, but rather their unmanageable nature by one or more entities, impervious to arbitrary policies. Unfortunately, over time bitcoin users have led to something that has the potential to be centralized especially they start depositing into CEXs and custodial wallets. We need to worry when most of the bitcoin supply only caters to centralized platforms.