Can Bitcoin leave to be decentralized

[Captain Corporate]

This is definitely something that I highly prefer in bitcoin world and that's why I am in here anyway. It just feels like its a much better option and should not be really all that difficult to understand why. I am not saying that we shouldn't really do anything crazy, we can still go crazy time to time with small amount of money to make sure we are taking big risks for big rewards at times. But at the same time I feel like its going to be difficult to do that when we are talking about a bigger amounts. So most of our money should be in bitcoin, just put %80 of it there if you can, and with the rest of it you can do whatever you want to do, and take bigger risks and see if it works or not.

[Weawant]

From my theory of understanding bitcoin as a cryptocurrency I have view bitcoin in different ways and i understand that Bitcoin what kept Bitcoin valuable is because it's a decentralized currency, for instant assuming bitcoin was centralized the domain of the technology would have be affected or tempered. But I'm seeing that the Force of Bitcoin today to stand is because is a decentralized currency.

Bitcoin can't become centralized or controlled and that's one of the strength of Bitcoin that's making it a big threat to the current financial system we have been operated by the government and the banking sector. What keep Bitcoin valuable is because it has a community.

Without the community of believers backing Bitcoin it would had died from the attacks and negative press it has been receiving for a very long time but Bitcoin holders believe in it and always bought whenever the price dips. We have other decentralized currency that failed.

Bitcoin isn't only valuable because it's decentralized but also because the supply of Bitcoin is limited and the block rewards is also halved every four years and this create scarcity of the Bitcoin in the market and causes fomo as investors fears to miss out on future gains.

[noorman0]

Bitcoin can't become centralized or controlled and that's one of the strength of Bitcoin that's making it a big threat to the current financial system we have been operated by the government and the banking sector. What keep Bitcoin valuable is because it has a community.

Technically correct, but proprietaryly you can convert your original bitcoins to a centralized version at any time, just send them to centralized services and do all your needs through it.

Unknowingly this has been a common practice by some bitcoin users for a long time. And sadly, it was precisely this "centralizing" effort that led to the biggest hack cases that shouldn't have impacted many users if they adhered to the essential principle bitcoin was created.

[seoincorporation]

From my theory of understanding bitcoin as a cryptocurrency I have view bitcoin in different ways and i understand that Bitcoin what kept Bitcoin valuable is because it's a decentralized currency, for instant assuming bitcoin was centralized the domain of the technology would have be affected or tempered. But I'm seeing that the Force of Bitcoin today to stand is because is a decentralized currency.

You can compare this with the operative systems, the difference between Linux and windows is decentralization, as you can see the Linux community always works to make for the operative system something better for the user while you can see Microsoft team working hard to have the control over the users, that's why decentralized projects are always better for the community.

If bitcoin becomes a centralized project I think a lot of people would just leave it and switch to other altcoins.

[Fivestar4everMVP]

From my theory of understanding bitcoin as a cryptocurrency I have view bitcoin in different ways and i understand that Bitcoin what kept Bitcoin valuable is because it's a decentralized currency, for instant assuming bitcoin was centralized the domain of the technology would have be affected or tempered. But I'm seeing that the Force of Bitcoin today to stand is because is a decentralized currency.

Learning is a continuous process

Well, you are right, indeed, considering all that have played out ever since bitcoin started gaining prominence and popularity in the financial market, security operatives of the government must have done alot of digging to try to find out how to bring the technology to a halt, but unfortunately for them, No way...

Now, I believe that most of us can see the Clear picture as to why Satoshi Nakamoto decided to remain anonymous all through the times he was nurturing bitcoin, and immediately he or they saw that bitcoin was matured enough to carry on, he or they went offline letting the technology ⚙ run on its own..
If Satoshi was not anonymous, he or they would have been arrested by now, and forced to shut down or hand over the technology behind bitcoin and blockchain to the government.

[Wimex]

Well, one of the main reasons why bitcoin was created was so that people could use this currency to carry out transactions without the need for intermediaries or anything to support it, so it would not make sense to centralize it. I consider it more difficult for this asset to be centralized since it literally has no domain and it may be for this reason that many are interested in having bitcoins, since it is known that centralized currencies are dominated by both banks and by governments, so they limit their use and not only that, but when they want they can simply steal from you, but with bitcoin this act is made difficult, I am not saying that it is impossible for them to take away your bitcoins since hackers exist but it is not so common and there is no one who restricts you for its use... this is what differentiates it from fiduciary rinds, and what attracts the public's attention... so it should stay that way.

[davis196]

From my theory of understanding bitcoin as a cryptocurrency I have view bitcoin in different ways and i understand that Bitcoin what kept Bitcoin valuable is because it's a decentralized currency, for instant assuming bitcoin was centralized the domain of the technology would have be affected or tempered. But I'm seeing that the Force of Bitcoin today to stand is because is a decentralized currency.

Learning is a continuous process

OP, I can see that you already have two posts in the Bitcoin Discussion forum. Wouldn't be nice if you combine your questions into one post, instead of having multiple posts created in a short time frame(which kinda looks like post spamming)?
Anyway, Bitcoin is valuable because of the secure transactions and the scarcity. Yes, decentralization also has a role in building trust and confidence among the people, who are using BTC. It's theoretically possible for someone to take control over BTC by performing a 51% attack, but the BTC price would drop and I assume that Bitcoin Core will be forked and most Bitcoin users will move to the version of Bitcoin, that isn't controlled by a centralized entity.

[posi]

There's no way for the government to make Bitcoin centralized because they can't find its original creator and all they can do is put pressure on some exchanges that don't follow their rules and regulations and eventually they are forced to close due to some illegal activities. this is just some example of their hostility and imagine if they can have full control of it, they can earn lots of money from bitcoins but instead, they are not able to do so and there's no way for them to control it until no and bitcoins will remain to be like this forever and the price will also increase in the future due to the fact that it always gained trust from the people and big companies every year.

But even if the government finds Satoshi, can he change it so that bitcoin becomes centralized? Although he is the one who created it, I don't think he can make bitcoin centralized. So it is tough for the government to figure out how to control bitcoin. But the future is unpredictable, and the technology is constantly evolving, maybe in the future someone can decrypt bitcoins. So we should enjoy what we have, don't be too subjective, and always live realistically.

This is also what I wonder, can Satoshi make bitcoin centralized? If that can happen, we are also in danger because he can change his mind at any time. But I also agree that he cannot make it focus or can destroy it even though he is the one who created it. Bitcoin is open source, and anyone can maintain it without its creator, so no one can destroy it.

Yes, if something better than bitcoin is created, then we shouldn't be too surprised because that's the evolution of the world. But I don't think that will happen anytime soon because more than 14 years have passed, and there is still no altcoin that can surpass bitcoin, so we don't need to worry about that.

[Ayebabara]

Op I couldn't understand your message earlier, it took me sometimes to comprehend your writings because of some ungrammatical expression of some phrase. Though all of us make mistake from one way to the other even as that read other users threads to improve your writings.
If bitcoin was a centralized system in the internet, authorities would have stopped it since then, BTC would have not grown to this level. Bitcoin is only surviving because nobody from the authorities can control the system.

[DanWalker]

But if bitcoin loses its decentralized nature, it will cease to be an investment and store of value. Bitcoin would not be an investment if it were centralized because if someone could control it, they could increase the supply and render it useless just like fiat.

Bitcoin has always been a thorn in the government's side, and if it becomes centralized, the government will control everything and even destroy it. So it can be said that the decentralized nature has made bitcoin successful today, if bitcoin becomes centralized, it will be useless, and the game will be over. The decentralized nature is at the core of what makes bitcoin different and unique.

The decentralized nature of Bitcoin is a concrete feature but we must admit that that is not the only reason why Bitcoin has thrived.
Fiat is not useless. It's still a store of value. Majority of the world still use Fiat. Less than 5% of the world population own crypto. So how many of these will be for Bitcoin? Besides, a good number of those using crypto still use fiat. And the over 95% of people in the world use Fiat as a store of value.

If Bitcoin was just a decentralized currency and it cannot be invested then I doubt it would as successful as it is today.
So it's right to say the decentralized nature and the investment nature are the things that make Bitcoin successful.

Yes, fiat is not entirely useless, and I have overstated it because we all need it in our lives.

But I mean, if bitcoin is not decentralized, how can it be the successful investment it is today? Why are many altcoins also cryptocurrencies, but they are not decentralized, and they can't be as promising an investment as bitcoin? Altcoins are only considered speculative, gambling, used to make short-term profit, not a promising asset like bitcoin. Bitcoin has value because it is a highly sought-after asset, but will it still be potential if it becomes centralized? Or it will end up like other altcoins, that's what I mean. The decentralized nature of bitcoin determines the future of bitcoin.

[coindigitalcoin]

In my opinion, what gives BTC it's value and utility within this context isn't necessarily the level of decentralization itself but rather the features that it's decentralization brings about. I find centralization and decentralization to be a on a spectrum, with each end providing its own set of values and utility. On one hand the BTC token distribution among users is verifiably the most widespread & decentralized among all cryptos with no small group of users holding the majority of tokens like other chains, while on the other hand some might consider the concentration of mining pools to be centralized (i don't believe so). Either way, what really matters is the features brought upon by its level of decentralization-BTC's being the most immutable and most liquid but on the other hand not necessarily the fastest. Even as you slide down the spectrum towards greater centralization with other networks like ETH, Cosmos or even others like ICP with less than 150 actual physical nodes, people are still able to find value and different utilities in it through features like speed and usability (low fees) even with it being more centralized. This even goes for services and dapps where DEXs and such might offer great customizability and freedom for power users but on the other hand centralized incumbents have the edge when it comes to usability, variety, UI and stuff like that. So overall I wouldn't judge BTC based on how decentralized it is, I think it's essential to focus on why people buy their bitcoin and what utility/value it provides for them, not if its decentralized or not, the utility and value differs for everyone. Like I said some people might call the token distribution decentralized while at the same time calling the mining pool concentration centralized, though at the end of the day it is the most immutable/secure/hardest to attack and that's what gives value to it for me.

[slaman29]

Bitcoin is decentralized for sure but I don't think that's why people adopt it and I guess here we're talking about payment method right?

Investment is a different thing and but people also don't invest in it because of decentralization (they don't care).

Bitcoin is the most widely accepted. It will never go down. It cannot be doublespent without problems. It cannnot be taken down by governments. And it's the easiest to use.

That is why people adopt it. I know Bitcoin is like this because it is the most decentralized coin, but you could argue other coins are also similarly decentralized but without the same advantages I mentioned.

[Bitcoinpoly]

No body has ever talk down or criticize the fact that Bitcoin is being decentralized, in one way or the other it has brought a lot of productivity to the token, having Bitcoin operating on its own as a decentralized token is one of the reason why the use of centralized exchanges are necessary.

There is a need for partial regulation and asset security of which can be best done on CEX.

[Bitcoinpoly]

In my opinion, what gives BTC it's value and utility within this context isn't necessarily the level of decentralization itself but rather the features that it's decentralization brings about. I find centralization and decentralization to be a on a spectrum, with each end providing its own set of values and utility. On one hand the BTC token distribution among users is verifiably the most widespread & decentralized among all cryptos with no small group of users holding the majority of tokens like other chains, while on the other hand some might consider the concentration of mining pools to be centralized (i don't believe so). Either way, what really matters is the features brought upon by its level of decentralization-BTC's being the most immutable and most liquid but on the other hand not necessarily the fastest. Even as you slide down the spectrum towards greater centralization with other networks like ETH, Cosmos or even others like ICP with less than 150 actual physical nodes, people are still able to find value and different utilities in it through features like speed and usability (low fees) even with it being more centralized. This even goes for services and dapps where DEXs and such might offer great customizability and freedom for power users but on the other hand centralized incumbents have the edge when it comes to usability, variety, UI and stuff like that. So overall I wouldn't judge BTC based on how decentralized it is, I think it's essential to focus on why people buy their bitcoin and what utility/value it provides for them, not if its decentralized or not, the utility and value differs for everyone. Like I said some people might call the token distribution decentralized while at the same time calling the mining pool concentration centralized, though at the end of the day it is the most immutable/secure/hardest to attack and that's what gives value to it for me.

A very good point you’ve made here, It isnt really the decentralization itself that makes it useful but really what utilities it can provide, with services. The decentralization itself has either made its operation easily accessible and  more expensive to acquire.

Though different actions for different context, i personally feel the decentralization of BTC is one of the major reason why it is advisable to buy it more on centralized exchanges in order to have a reasonable amount of asset guarantee, tokens of such can be manipulated and sold as fake on DEXs.

At the same time CEX will offer a considerable amount of fee when carrying out transactions on such token in compare to when carrying out transactions on DEX.

Since Bitcoin is decentralized it’s beneficial to lower barriers to its entry through CEX as it will even improve ones understanding of the use of such tokens, it’s wide range importance, it can equally be trade on features even without having much understanding of trading just as Bitget introduced into crypto their copy trading feature.

[Magic-Money]

Bitcoin can't leave decentralized process, assume Bitcoin is centralized government has stopped Bitcoin for a long term, since is decentralized and internet exist, no body can shut down Bitcoin, but rather keep spreading across the globe and become popular day by day, while serves as online means of payment.

[KiaKia]

I understand that sometimes, some questions will look so stupid that some people might want to use that to get on you but we still got to ask anyways.

Bitcoin will always be decentralized, it's built this way and it became an interest to someone like me because of the decentralized part, apart from the incredible future value of Bitcoin I have always want to be one step away from the government, and Bitcoin just seems to fit the gap very well.

Just relax, Bitcoin ain't a snake that sheds or will shed it's own skin.

[zaim7413]

Based on the theory you explain, your understanding of Bitcoin is very good. Bitcoin is completely open source and decentralized, no organization or individual can control Bitcoin, the network will remain secure even though not all users can be trusted. public trust in Bitcoin is supported by the fact that Bitcoin does not require trust at all, this fact is one of the strengths that can attract interest in Bitcoin due to its decentralized nature.

Satoshi designed Bitcoin to perfection, its main function as a major step towards making money safer and at the same time serving as a form of protection against financial crime. Until now there has never been news circulating that bitcoin can be counterfeited, so Bitcoin owners have full control over the payments they make. One of the factors that supports the growth of Bitcoin so fast because it can be used for various purposes and gives users the freedom to make transactions with their own rules.

[TheUltraElite]

i understand that Bitcoin what kept Bitcoin valuable is because it's a decentralized currency,

Value based on what? You are seeing the price in terms of a fiat currency, for example USD. That does not mean that the value of 1BTC is changing, it remains 1BTC but the price at which the market sells/buys it is what the value is. That could be in fiat or altcoin or any other asset. We dont peg the value of BTC to another asset, but the markets determine the price based on the orderbooks against other currencies.

You are confusing fiat price and characteristics of bitcoin. Being decentralized is a character that bitcoin possesses. Definitely that makes it popular and attractive to the population and raises its demand, but it does not govern the price of bitcoin in fiat.

[cryptodude]

From my theory of understanding bitcoin as a cryptocurrency I have view bitcoin in different ways and i understand that Bitcoin what kept Bitcoin valuable is because it's a decentralized currency, for instant assuming bitcoin was centralized the domain of the technology would have be affected or tempered. But I'm seeing that the Force of Bitcoin today to stand is because is a decentralized currency.

Learning is a continuous process

I think it is not possible. Decentralization is a original principle of Bitcoin. This ensures that no single entity or governing authority has any control over the network. Bitcoin fundamental principles lie in its decentralized nature. This principle underlies Bitcoin design to promote transparency, security and independence from central authorities such as governments or financial institutions. So Bitcoin is unlikely to abandon its essence of decentralization.

[umbara ardian]

Its decentralization has made bitcoin different and unique. Enabled Bitcoin to run the network without a centralized organization controlling or managing it. Decentralization also helps Bitcoin avoid some of the potential problems in a traditional financial system, like supply exhaustion and government control.

If Bitcoin loses its decentralized nature, it will lose part of its history and value. Of course, this is by no means a certainty and it still takes time and development to gauge the impact. However, an excessive concentration in Bitcoin can pose risks and hinder its popularity and usage.