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Sled
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November 22, 2021, 10:48:37 PM |
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It will bring huge impact in the price of bitcoin. It will became trusted a by many of the governments. The price of bitcoin is not purely on adopted altcoin.Can the centralization will bring new people to the investments of crypto tradings.If more people get into investments,the price of bitcoin will increase automatically and gives you more profit.
What will you do your profit if you don't have any control of it? do you know what decentralized actually is? Decentralized system means no one has control of your funds except you. If govt able to freeze your coin and seize your profit and take unnecessary tax then what you will do with your profit? Investors will never trust such kind of centralized system. It doesn't mean that once we are in a centralized market we don't have control of our funds, it has been said that the government will take control of the price where they can pump and dump if they want. The only advantage of being in a decentralized state is that the market moves freely but because of the whale's participation, we are no longer that fully decentralized status, price can still be manipulated by them. But in terms of security, it is too weak than being back-up by the government. |
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dupee419
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November 22, 2021, 11:57:03 PM |
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It will bring huge impact in the price of bitcoin. It will became trusted a by many of the governments. The price of bitcoin is not purely on adopted altcoin.Can the centralization will bring new people to the investments of crypto tradings.If more people get into investments,the price of bitcoin will increase automatically and gives you more profit.
What will you do your profit if you don't have any control of it? do you know what decentralized actually is? Decentralized system means no one has control of your funds except you. If govt able to freeze your coin and seize your profit and take unnecessary tax then what you will do with your profit? Investors will never trust such kind of centralized system. It doesn't mean that once we are in a centralized market we don't have control of our funds, it has been said that the government will take control of the price where they can pump and dump if they want. The only advantage of being in a decentralized state is that the market moves freely but because of the whale's participation, we are no longer that fully decentralized status, price can still be manipulated by them. But in terms of security, it is too weak than being back-up by the government. True, decentralized or centralized it may still be controlled, and currently, the government may not have the authority to centralize Bitcoin but it is definitely backed by whales, therefore, regardless whether if it is centralized or decentralized, the market and Bitcoin is still owned by the whales, I'd still go for a decentralized system but you can never rely on a single currency, the market is as huge as the ocean. |
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n0ne
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November 23, 2021, 12:00:08 AM |
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It will bring huge impact in the price of bitcoin. It will became trusted a by many of the governments. The price of bitcoin is not purely on adopted altcoin.Can the centralization will bring new people to the investments of crypto tradings.If more people get into investments,the price of bitcoin will increase automatically and gives you more profit.
What will you do your profit if you don't have any control of it? do you know what decentralized actually is? Decentralized system means no one has control of your funds except you. If govt able to freeze your coin and seize your profit and take unnecessary tax then what you will do with your profit? Investors will never trust such kind of centralized system. It doesn't mean that once we are in a centralized market we don't have control of our funds, it has been said that the government will take control of the price where they can pump and dump if they want. The only advantage of being in a decentralized state is that the market moves freely but because of the whale's participation, we are no longer that fully decentralized status, price can still be manipulated by them. But in terms of security, it is too weak than being back-up by the government. True, decentralized or centralized it may still be controlled, and currently, the government may not have the authority to centralize Bitcoin but it is definitely backed by whales, therefore, regardless whether if it is centralized or decentralized, the market and Bitcoin is still owned by the whales, I'd still go for a decentralized system but you can never rely on a single currency, the market is as huge as the ocean. Yeah, the whales of the market holds a big volume of the entire bitcoin mined. This gives them the authority to have control over the market. At times the Whales manipulation makes the market look like an centralized platform. However beyond certain limit they weren't able to make big impact. The whales create disturbance, but it is the users who make the market go down or up based on the level of panic at times. |
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dvndr007
Member
 Offline
Activity: 126
Merit: 10
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November 23, 2021, 04:14:12 AM |
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if its possible they will do it and bitcoin will crash that's it nothing else.
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Kasabus
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November 23, 2021, 09:21:19 AM |
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It will bring huge impact in the price of bitcoin. It will became trusted a by many of the governments. The price of bitcoin is not purely on adopted altcoin.Can the centralization will bring new people to the investments of crypto tradings.If more people get into investments,the price of bitcoin will increase automatically and gives you more profit.
What will you do your profit if you don't have any control of it? do you know what decentralized actually is? Decentralized system means no one has control of your funds except you. If govt able to freeze your coin and seize your profit and take unnecessary tax then what you will do with your profit? Investors will never trust such kind of centralized system. It doesn't mean that once we are in a centralized market we don't have control of our funds, it has been said that the government will take control of the price where they can pump and dump if they want. The only advantage of being in a decentralized state is that the market moves freely but because of the whale's participation, we are no longer that fully decentralized status, price can still be manipulated by them. But in terms of security, it is too weak than being back-up by the government. True, decentralized or centralized it may still be controlled, and currently, the government may not have the authority to centralize Bitcoin but it is definitely backed by whales, therefore, regardless whether if it is centralized or decentralized, the market and Bitcoin is still owned by the whales, I'd still go for a decentralized system but you can never rely on a single currency, the market is as huge as the ocean. Yeah, the whales of the market holds a big volume of the entire bitcoin mined. This gives them the authority to have control over the market. At times the Whales manipulation makes the market look like an centralized platform. However beyond certain limit they weren't able to make big impact. The whales create disturbance, but it is the users who make the market go down or up based on the level of panic at times. There will be big whales that are capable to manipulate the market, but the price of crypto coins will greatly depend on the community that are supporting it. And i don't think government will waste their time on controlling on such coins that are fully decentralized. It will never really happen because in the first place, bitcoin is decentralized so it will never come to the point of making it centralized. However, bitcoin may be less decentralized in the future because of its massive adoption, but it will never be fully centralized in the making. Satoshi had made bitcoin for the sake of freedom that people don't have when it comes to controlling their own money. |
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Maslate
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November 23, 2021, 12:33:52 PM |
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The government can only make bitcoin centralized through their regulation, if they will implement strict rules on bitcoin, then eventually people will feel that bitcoin is no anymore decentralized as a payment method and digital currencies made by the government is easier to use.
Bitcoin has only become an investment haven, but due to its popularity, the government might be forced to make their own digital coin so they will still dominate and bitcoin users will be mostly the investors who are just trying to hedge their money on the possible hyper inflation.
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carrigan
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Activity: 728
Merit: 12
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November 23, 2021, 01:11:21 PM |
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It is a difficult thing if not impossible if the government will make Bitcoin centralized. Bitcoin cannot be controlled by anyone, including the government and the state. Banks are also the real enemy of Bitcoin. Bitcoin gives us monetary freedom that the government has not given us so far. It is therefore impossible that the government will interfere or take part in the development of Bitcoin.
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LogitechMouse
Legendary
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Activity: 2436
Merit: 1036
Chancellor on brink of second bailout for banks
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November 23, 2021, 01:25:34 PM |
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I'm thinking of any way that the governments can centralized Bitcoin but I can't think of any (or just that I'm not that good at thinking  ). Anyway, first they didn't create the coin. Second how can they get all those 18,881,100 BTC that are in circulation right now because if you want a currency to become centralized, you must have a full access to it and to start that you must have all or if not most of the coins. I don't think that this is ever possible but they can try if they want to. I mean companies are using a huge portion of their money just to mine crypto coins and get profit so the government can do it too. |
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zaesvlas
Jr. Member
Offline
Activity: 140
Merit: 2
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November 23, 2021, 02:06:35 PM |
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It is interesting, of course, what will happen in this case. I think that traders will still bypass this control.
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tokyohd
Member
Offline
Activity: 352
Merit: 18
Pepemo.vip
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November 23, 2021, 05:02:49 PM |
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I'm thinking of any way that the governments can centralized Bitcoin but I can't think of any (or just that I'm not that good at thinking ). Anyway, first they didn't create the coin. Second how can they get all those 18,881,100 BTC that are in circulation right now because if you want a currency to become centralized, you must have a full access to it and to start that you must have all or if not most of the coins. I don't think that this is ever possible but they can try if they want to. I mean companies are using a huge portion of their money just to mine crypto coins and get profit so the government can do it too. I agree with you bro. I also think it is never possible. Because if we want to centralize a coin we must have full access to that coin. I think the government will never be able to have full access to Bitcoin. |
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dunfida
Legendary
Offline
Activity: 3080
Merit: 1131
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November 23, 2021, 11:49:40 PM |
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I'm thinking of any way that the governments can centralized Bitcoin but I can't think of any (or just that I'm not that good at thinking ). Anyway, first they didn't create the coin. Second how can they get all those 18,881,100 BTC that are in circulation right now because if you want a currency to become centralized, you must have a full access to it and to start that you must have all or if not most of the coins. I don't think that this is ever possible but they can try if they want to. I mean companies are using a huge portion of their money just to mine crypto coins and get profit so the government can do it too. It’s impossible now, they can make their own coin to centralized in their government but not to modified bitcoin as it already build it’s name and its truly just made for decentralization. Governments main reason of not fully legalizing it in many countries is due to this feature and some were banning it and just implementing their own coin since they see the potential of crypto. If its possible to be modified then they have done this a long time ago and would able to prevent on what it had attained or reached as of this moment when it comes to recognition and adoption. They could make all coins that they do like but it would really just the same as fiat which is "centralized" as always as it should be and they wouldnt really be tending to create things which is out of their control. This is the main reason on why Bitcoin did really come this far because it cant be something be controlled nor be traced up. |
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Abiky (OP)
Legendary
Offline
Activity: 3192
Merit: 1362
www.Crypto.Games: Multiple coins, multiple games
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November 24, 2021, 04:45:21 PM |
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I'm thinking of any way that the governments can centralized Bitcoin but I can't think of any (or just that I'm not that good at thinking ). Anyway, first they didn't create the coin. Second how can they get all those 18,881,100 BTC that are in circulation right now because if you want a currency to become centralized, you must have a full access to it and to start that you must have all or if not most of the coins. I don't think that this is ever possible but they can try if they want to. I mean companies are using a huge portion of their money just to mine crypto coins and get profit so the government can do it too. With how centralized exchanges are holding large amounts of Bitcoin, it's easy enough for governments to centralize the Blockchain in its entirety. There's unequal distribution in Bitcoin's supply as we speak. At least, Bitcoin's mining hashrate is widely distributed thanks to China's full government crackdown. The more miners we have from different areas of the world, the better it'll be for Bitcoin's decentralization. El Salvador already announced a Bitcoin mining initiative using Volcanoes as a source of power. As long as governments don't control more than 51% of the hashrate, Bitcoin will do fine for many generations. Just my opinion  |
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herurist
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November 24, 2021, 08:43:59 PM |
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I don't think something like this will ever happen, the price of bitcoin is now too high even though it will be even higher but there is only a little left because most of it has been mined and of course the government doesn't want to bother making something like this happen right now.
on the other hand I feel that bitcoin will still be bitcoin like now there will be no system that supports the government to make btc centralized
It will bring huge impact in the price of bitcoin. It will became trusted a by many of the governments. The price of bitcoin is not purely on adopted altcoin.Can the centralization will bring new people to the investments of crypto tradings.If more people get into investments,the price of bitcoin will increase automatically and gives you more profit. If I had to trade instant government trust with bitcoin being centralized then I personally would reject things like this because I really think when they become centralized it means it's the same as fiat today and bitcoin won't be anything unique anymore. but this is my opinion which is what i feel will be. on the other hand now the bitcoin adoption rate is getting better from year to year and there is no need for government intervention to make it happen because from the start without any government intervention bitcoin can become what it is now |
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Shasha80
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November 24, 2021, 09:23:10 PM |
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I don't think something like this will ever happen, the price of bitcoin is now too high even though it will be even higher but there is only a little left because most of it has been mined and of course the government doesn't want to bother making something like this happen right now.
on the other hand I feel that bitcoin will still be bitcoin like now there will be no system that supports the government to make btc centralized
It will bring huge impact in the price of bitcoin. It will became trusted a by many of the governments. The price of bitcoin is not purely on adopted altcoin.Can the centralization will bring new people to the investments of crypto tradings.If more people get into investments,the price of bitcoin will increase automatically and gives you more profit. If I had to trade instant government trust with bitcoin being centralized then I personally would reject things like this because I really think when they become centralized it means it's the same as fiat today and bitcoin won't be anything unique anymore. but this is my opinion which is what i feel will be. on the other hand now the bitcoin adoption rate is getting better from year to year and there is no need for government intervention to make it happen because from the start without any government intervention bitcoin can become what it is now It's true that if the government wants to make Bitcoin centralized, it makes Bitcoin no different from fiat. This means that Bitcoin's original purpose as a decentralized currency has changed, and I don't think that's what Bitcoin users want. After all the government will not be able to make Bitcoin centralized, the government may only limit the use of Bitcoin, by not legalizing Bitcoin completely. Then governments will create their own cryptocurrencies, which makes the most sense, rather than centralize Bitcoin. Although there are still many rejections of Bitcoin from several countries, the Bitcoin adoption process continues and Bitcoin is increasingly expensive. So Bitcoin really can't be stopped by anyone, and will get bigger in the future. |
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freedomgo
Legendary
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Activity: 3094
Merit: 1144
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November 24, 2021, 09:34:15 PM |
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I'm thinking of any way that the governments can centralized Bitcoin but I can't think of any (or just that I'm not that good at thinking ). Anyway, first they didn't create the coin. Second how can they get all those 18,881,100 BTC that are in circulation right now because if you want a currency to become centralized, you must have a full access to it and to start that you must have all or if not most of the coins. I don't think that this is ever possible but they can try if they want to. I mean companies are using a huge portion of their money just to mine crypto coins and get profit so the government can do it too. It’s impossible now, they can make their own coin to centralized in their government but not to modified bitcoin as it already build it’s name and its truly just made for decentralization. Governments main reason of not fully legalizing it in many countries is due to this feature and some were banning it and just implementing their own coin since they see the potential of crypto. They can create centralized virtual currencies as much as they want but never in the case for bitcoin. Being decentralized for bitcoin is what makes it more appealing and makes the people to stay in it away from the hands of the government. I know they can still pursue in making bitcoin centralized but I don't think if it will succeed in the long run. Probably, most of the people still prefer bitcoin to stay decentralized. |
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Rengga Jati
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November 25, 2021, 12:00:12 AM |
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Have you ever thought about Bitcoin becoming centralized someday?
Never. Bitcoin cannot be centralized. The government will only be able to regulate other parties related to Bitcoin like the exchanges and other platforms. They can make centralized systems of the exchanges, but not for Bitcoin. It is too complex to centralize Bitcoin. Although some government don't like with this condition and force to regulate Bitcoin, in fact so far, they cannot do it directly. but, let's see later how they will make some regulations related to Bitcoin again. But not meaning for centralization probably |
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Ebede
Member
Offline
Activity: 868
Merit: 38
Join hands and help me to grow everybody...
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November 25, 2021, 06:27:57 AM |
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even centralized, it will still be the BTC! BTC continue to live on!
If bitcoin becomes centralized it will be hand cap, because a lot of artificial and external authority will come up by the government and it will be overwhelming by government also, i dont think it is acknowledgeable to agree that bitcoin should base under centralized currency like fiat, yes bitcoin will get it value but it won't be strong like before. |
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Zilon
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November 25, 2021, 08:22:59 AM |
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Let's assume it was really possible for bitcoin to get centralized maybe an adoption as a one world currency and government taking over mining pools. Did you consider the amount of bitcoin already mined by the decentralized miners ?. Its just obvious bitcoin can't just go centralized at the moment the government are handicapped and all the can do for now is try to stop further mining or ban bitcoin in their country and also impose their centralized digital currency on their citizens and nothing more
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Finestream
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November 25, 2021, 08:42:14 AM |
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Have you ever thought about Bitcoin becoming centralized someday? The ever-growing mainstream adoption of Bitcoin worldwide will only lead us closer to such scenario. To our surprise, El Salvador became the first country to adopt Bitcoin as legal tender. The more popular the cryptocurrency becomes, the more countries will be tempted to follow El Salvador's footsteps. Imagine governments making their own mining facilities, or even buying pre-established mining companies in order to gain a piece of the pie. If they manage to control more than 51% of Bitcoin's hashrate, the cryptocurrency will effectively become centralized. That, and the fact that they already control centralized exchanges is a very alarming situation for the future of Bitcoin. Of course, the only way governments worldwide will be able to control 51% of Bitcoin's hashrate is if they unanimously agree on using Bitcoin is a "One World Currency". This may all sound crazy, but we cannot ignore it from happening in the future. What are your thoughts? Will Bitcoin be able to remain decentralized for the foreseeable future? Or not? What do you think will happen if governments fully embrace Bitcoin as the replacement of Fiat? Your input will be greatly appreciated. Thanks. Good thing that bitcoin is decentralized already and there's no way they could make it centralized by cheating or hoarding coins, it would totally make no sense even if they wanted to, bitcoin had far started more a decade ago, government would take action at large as late as today. Take for example China, we all knew that they're trying to control cryptocurrencies or atleast make them an overseer or middleman about the transactions, but look at China now, they have given up already and took a legal action to ban bitcoin across mainland China. |
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Vaculin
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November 25, 2021, 08:52:08 AM |
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Have you ever thought about Bitcoin becoming centralized someday? The ever-growing mainstream adoption of Bitcoin worldwide will only lead us closer to such scenario. To our surprise, El Salvador became the first country to adopt Bitcoin as legal tender. The more popular the cryptocurrency becomes, the more countries will be tempted to follow El Salvador's footsteps. Imagine governments making their own mining facilities, or even buying pre-established mining companies in order to gain a piece of the pie. If they manage to control more than 51% of Bitcoin's hashrate, the cryptocurrency will effectively become centralized. That, and the fact that they already control centralized exchanges is a very alarming situation for the future of Bitcoin. Of course, the only way governments worldwide will be able to control 51% of Bitcoin's hashrate is if they unanimously agree on using Bitcoin is a "One World Currency". This may all sound crazy, but we cannot ignore it from happening in the future. What are your thoughts? Will Bitcoin be able to remain decentralized for the foreseeable future? Or not? What do you think will happen if governments fully embrace Bitcoin as the replacement of Fiat? Your input will be greatly appreciated. Thanks. Good thing that bitcoin is decentralized already and there's no way they could make it centralized by cheating or hoarding coins, it would totally make no sense even if they wanted to, bitcoin had far started more a decade ago, government would take action at large as late as today. Take for example China, we all knew that they're trying to control cryptocurrencies or atleast make them an overseer or middleman about the transactions, but look at China now, they have given up already and took a legal action to ban bitcoin across mainland China. Yes, they have leave bitcoin behind and end up creating their digital yuan that is fully centralized. Just like China, if other countries will also try to adopt bitcoin and make it centralized, i doubt if they will succeed on it. Bitcoin has been here for a decade being decentralized and that people have seen its value and worth already as a decentralized coin so probably, they won't also let such governments to make bitcoin centralized as they will lost their full control on their bitcoins and eventually, lost their expected profits too as everything will be fully credited to the government. |
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