If Bitcoin is centralized, will it still have value ?

[Outhue]

I doubt Bitcoin will make it this far if it's centralized, even if it does the manipulation will be Insane as the government will see this as an opportunity to keep robbing the people, the only way for them now is to join the race, pack as many Bitcoin as they can.

Bitcoin is strong enough to be use to finance a whole country if done right, since it's decentralized there is fear about it, even if any centralized organization under the government are criticizing Bitcoin, it doesn't mean they aren't investing too, they are just mad that something out of nowhere become the biggest valuable digital asset.

[_act_]

I don't know about the coin you're talking about, but if you assume that when bitcoin is centralized, the government will shut it down, then why don't they shut down other centralized altcoins in the market? ETH or BNB and all the rest of the altcoins are also centralized, but why do they just close Libra coin and ignore all other altcoins? Once bitcoin becomes centralized, it is no different from altcoins.

Coins like ether are centralized but make use of part of bitcoin decentralized system which is blockchain. If bitcoin is centralized, we are going to think like it is not using blockchain but just like other fiat. This will make the government to easily take it down. Bitcoin is still the reason altcoins are surviving. If bitcoin is centralized like them, there would have been more crypto regulations and all would be considered as  security.

I mean, in the future, when bitcoin matures and becomes bigger like gold or the stock market, nobody can manipulate it anymore. For what's going on, with a market cap of just $1 trillion, manipulation is inevitable and easily manipulated. I'm not denying what's going on.

Are you sure that bitcoin is manipulated? After people can hold and make profit. In long term bitcoin has been a store of value. No manipulation like you think. As of today, the marketcap for bitcoin is $572 billion.

[Nrcewker]

If Bitcoins are centralised, then definitely the price will go down. It won’t be as demanding as it is now. Now as it controlled by a centre, so yes you won’t completely have the access to your funds or Bitcoins. They will imply many rules and regulations on the coin and finally it will be treated as an asset under the government. To understand better you can compare Bitcoins with Digital gold. This will be treated same like the digital golds.

[Blitzboy]

If Bitcoins are centralised, then definitely the price will go down. It won’t be as demanding as it is now. Now as it controlled by a centre, so yes you won’t completely have the access to your funds or Bitcoins. They will imply many rules and regulations on the coin and finally it will be treated as an asset under the government. To understand better you can compare Bitcoins with Digital gold. This will be treated same like the digital golds.

The whole foundation of Bitcoin would be destroyed by centralization! We would stick to conventional banking if we wanted an asset managed by a single firm. What about the analogy to digital gold? Even gold isnt as centrally controlled as you're suggesting for Bitcoin, though. Bitcoin's decentralized nature, free from the control of any one entity, is its fundamental allure. It would be similar to tying a wild animal up to bring it under centralized control.

[tjtonmoy]

Decentralization does not determine Bitcoin's value. It all comes from demand and supply. But as Bitcoin is decentralized and has many use cases, people are getting interested in it, thus the demand is increasing which is the key factor for its rising value. If Bitcoin ever become centralized, the value of it will suffer a lot. Knowing that someone else can control or manipulate your assets will make people less interested in it.
Where Bitcoin stands now, it is the perfect solution for centralization. Many people are here just for the money Bitcoin can give from investing. But those who are here for its real reason, they know how much decentralization means. If Bitcoin becomes centralized, governments will try to take control of it. Which is impossible right now. So yeah, Bitcoin will suffer but it will still have some value.

[taufik123]

-snip-
But OP's question is if it becomes centralized, is it worth it? And I think it will still be worth it, but it won't be as big as it is now. The value of bitcoin comes from people's trust and need, people need a decentralized asset to escape government control and bitcoin has provided that. So I also think that decentralization is what makes bitcoin so valuable.

When Bitcoin becomes centralized is it worth it?
It will never be worth it and it will just be a disaster and bitcoin will be abandoned.
Whatever the reason Bitcoin should still be decentralized and that is the main purpose of Bitcoin, the main purpose of Sathosi creating it.

We will never escape the attention of the government. Now that Bitcoin has become a popular digital asset and is used by everyone, governments are trying to slow it down and want to control it by providing regulations, imposing taxes on crypto users, and other things that will benefit the government.

[bussybuddy]

Decentralization is not the only factor that defines its value. More centralization or not, Bitcoin can still survive in the market and will certainly have monetary value. However, there may be a shift in the target audience and user base as the focus shifts.

Philosophical consideration is also an important angle. Some see Bitcoin as just a payment and store of value instrument, while others may find more insight into decentralization, financial revolution, or financial freedom. This perspective really depends on the individual and creates diversity in the community.

[NomadTheSavior]

If Bitcoin was launched as a centralized coin it would never have gotten as big as it has. It wouldn't have reached even $100 million market cap forget about $100 billion or $1 trillion. As a centralized coin it would have died years ago. The fact that Bitcoin is decentralized is what gives it its power and success.

However there are many groups today that are trying to centralize Bitcoin for their own evil reasons, but they'll fail and decentralization will win.

[Texac]

Decentralization does not determine Bitcoin's value. It all comes from demand and supply. But as Bitcoin is decentralized and has many use cases, people are getting interested in it, thus the demand is increasing which is the key factor for its rising value. If Bitcoin ever become centralized, the value of it will suffer a lot. Knowing that someone else can control or manipulate your assets will make people less interested in it.
Where Bitcoin stands now, it is the perfect solution for centralization. Many people are here just for the money Bitcoin can give from investing. But those who are here for its real reason, they know how much decentralization means. If Bitcoin becomes centralized, governments will try to take control of it. Which is impossible right now. So yeah, Bitcoin will suffer but it will still have some value.

Decentralization does not directly determine the value of bitcoin, but it stimulates people's demand to increase, so it can be said that decentralization has indirectly created value for bitcoin.  if bitcoin wasn't decentralized it wouldn't appeal to everyone, so there wouldn't be demand and the price wouldn't go up like it is today.  so, it can be said that decentralization plays an important role in increasing the value of bitcoin.

Honestly, I believe that if bitcoin becomes centralized, people's interest in it will drop dramatically and its value will drop as well, although maybe decentralization doesn't play a major role in creating the volatility of bitcoin.

[Promocodeudo]

If Bitcoin is centralized, that's to say that the purpose of its creation has been defeated, people are interested in Bitcoin because of its decentralized nature, the decentralization of Bitcoin makes it impossible for any individual or group of persons to have control over it, the value of this digital asset is obtained from the confidence and conviction that it is secure and decentralized, the influx of investors also determines the value of bitcoin. So centralization is not a good idea because the government will hijack the process and make policy for everyone just like fiat currency.

[AmoreJaz]

If Bitcoin is centralized, that's to say that the purpose of its creation has been defeated, people are interested in Bitcoin because of its decentralized nature, the decentralization of Bitcoin makes it impossible for any individual or group of persons to have control over it, the value of this digital asset is obtained from the confidence and conviction that it is secure and decentralized, the influx of investors also determines the value of bitcoin. So centralization is not a good idea because the government will hijack the process and make policy for everyone just like fiat currency.

and that means, someone has the control over this currency. and that's the beauty of this top coin, no one can totally control its existence. thanks to satoshi for creating such coin. no one can manipulate even if they want to.
and this is the reason why the governments don't like this currency because there are some blindspots for them. they can't get a hold of all the transactions made on this network. they can get a hold from registered crypto-exchanges, but outside of that, they can't have the whole picture.

[suzanne5223]

Besides,  there's huge chance of BTC being close down if it was centralized coin when some government see it's high potential as threat to their national currency.

If bitcoin becomes centralized, I don't think the government will shut it down but instead they will take control and use it for their own purposes. I believe the government as well as we all see the potential of bitcoin, but since they cannot control it, they see it as a threat to fiat. And if they can control bitcoin, they will acknowledge its potential, but on the contrary, bitcoin will become a threat to us like fiat. But anyway, this hypothesis will never happen because bitcoin is already decentralized and no one can control it.

I believe you should know by now that the government never cares about what you do and I think the situation will give them the needed benefit.
If Bitcoin is centralized, I believe it will be shut down/totally banned in some countries that are currently using it now due to political interest, and the reason why some governments somehow support Bitcoin is because of its decentralized mechanism. An example is what happened to Libra which said will be global cryptocurrency, the governments of different countries were against it until the team and investors involve quit the project.

I don't know about the coin you're talking about, but if you assume that when bitcoin is centralized, the government will shut it down, then why don't they shut down other centralized altcoins in the market? ETH or BNB and all the rest of the altcoins are also centralized, but why do they just close Libra coin and ignore all other altcoins? Once bitcoin becomes centralized, it is no different from altcoins.

You don't know about Libra which is now Diem? The project was introduced by Facebook in 2019, supported by Coinbase, Mastercard, PayPal, crypto and blockchain firms Bison Trails, and venture capital firm Andreessen Horowitz, etc.
The reason why Ethereum and BNB are not shut down is because they are not seen as threats by the government.

The value of bitcoin will be completely dependent on supply and demand, not manipulated by the government or anyone.

Let's not lie to ourselves, there will always be market manipulation in the Bitcoin market despite its decentralization in nature and being dependent on the level of demand and supply.

I mean, in the future, when bitcoin matures and becomes bigger like gold or the stock market, nobody can manipulate it anymore. For what's going on, with a market cap of just $1 trillion, manipulation is inevitable and easily manipulated. I'm not denying what's going on.

You have a point but it's hard to tell what will happen in the future since tomorrow is not promised.

[_BlackStar]

The worst-case scenario for bitcoin if it becomes centralized in the future is that people who want privacy will literally dump their coins on the market. The price will drop hard and it's also possible to lose a lot of interest about its real use cases.

So far I don't find the OP's question too important to warrant more attention - but some opinions have been encountered here. Bitcoin will remain decentralized - but governments will also succeed in making their users centralized by regulation.To be honest that I didn't think about those scenarios and I just focused more on saving energy on more important things based on my plan on bitcoin.

[nelson4lov]

If Bitcoins are centralised, then definitely the price will go down. It won’t be as demanding as it is now. Now as it controlled by a centre, so yes you won’t completely have the access to your funds or Bitcoins. They will imply many rules and regulations on the coin and finally it will be treated as an asset under the government. To understand better you can compare Bitcoins with Digital gold. This will be treated same like the digital golds.

We can say for that is going to happen or not. If we take a look at centralized assets like gold etc, it derives its value because people think it has value and buys it. Being decentralized is one of the key reasons people get into bitcoin but that's not what gives it the value it has today. It's the same way the price of Bitcoin often goes up after a  halving event. In such a situation, members of the bitcoin community expect the value to go up because the halving event significantly reduces mining reward + less bitcoin to be added in the future.

[jeraldskie11]

Of course, Bitcoin is still valuable. But Bitcoin will never be centralized since Satoshi designed it to resist political control. We are all aware that there are government officials who will take advantage of or even steal from people who have a lot of assets or money. That's why Satoshi Nakamoto created Bitcoin, so that authorities who want to stop someone they don't like can't. It also increases someone's privacy to malicious individuals looking for a possible victim.

[GreatArkansas]

Of course, Bitcoin is still valuable. But Bitcoin will never be centralized since Satoshi designed it to resist political control. We are all aware that there are government officials who will take advantage of or even steal from people who have a lot of assets or money. That's why Satoshi Nakamoto created Bitcoin, so that authorities who want to stop someone they don't like can't. It also increases someone's privacy to malicious individuals looking for a possible victim.

I am also curious if it has a value, for sure someone or some entity will decide the price of Bitcoin then.
Or the only they can control is the chain/network itself. I will not be trusting it, it's like a centralized exchange where your hard earned money is in their custody because they can easily access it.

[DanWalker]

~snip~

You don't know about Libra which is now Diem? The project was introduced by Facebook in 2019, supported by Coinbase, Mastercard, PayPal, crypto and blockchain firms Bison Trails, and venture capital firm Andreessen Horowitz, etc.
The reason why Ethereum and BNB are not shut down is because they are not seen as threats by the government.

Honestly, I don't have a single memory of the Libra you mentioned . But if bitcoin becomes centralized, it will be like ETH and BNB, so it won't be as much of a threat to the government as it is now. That's why I believe the government won't shut down if bitcoin is centralized.

~snip~

You have a point but it's hard to tell what will happen in the future since tomorrow is not promised.

The future is unpredictable, but with something getting bigger and bigger and as it spirals out of control, it's clear that manipulation will become more difficult now.

I mean, in the future, when bitcoin matures and becomes bigger like gold or the stock market, nobody can manipulate it anymore. For what's going on, with a market cap of just $1 trillion, manipulation is inevitable and easily manipulated. I'm not denying what's going on.

Are you sure that bitcoin is manipulated? After people can hold and make profit. In long term bitcoin has been a store of value. No manipulation like you think. As of today, the marketcap for bitcoin is $572 billion.

The bitcoin network cannot be manipulated but when it comes to the movement and price of bitcoin, manipulation is pretty easy. With a market capitalization of just over 500 billion USD, which is only equal to the assets of the top 3, or 4 billionaires in the world combined, even smaller than the capitalization of a technology company. So how can it be called mature enough to not be manipulated?

The value of bitcoin depends on supply and demand just like other assets, but when it is too small, manipulation is inevitable. There will still be self-interest groups that seek to manipulate the market for their own profit.

[_act_]

Honestly, I don't have a single memory of the Libra you mentioned Grin Grin. But if bitcoin becomes centralized, it will be like ETH and BNB, so it won't be as much of a threat to the government as it is now. That's why I believe the government won't shut down if bitcoin is centralized.

Mark Zuckerberg wanted to create Libra and make it available on Facebook. But United States turned it down. Bitcoin is the first cryptocurrency, do not use ether or binance coin to compare it. Likely the way bitcoin will be centralized, the government would have taken it down.

The bitcoin network cannot be manipulated but when it comes to the movement and price of bitcoin, manipulation is pretty easy. With a market capitalization of just over 500 billion USD, which is only equal to the assets of the top 3, or 4 billionaires in the world combined, even smaller than the capitalization of a technology company. So how can it be called mature enough to not be manipulated?

The value of bitcoin depends on supply and demand just like other assets, but when it is too small, manipulation is inevitable. There will still be self-interest groups that seek to manipulate the market for their own profit.

Bitcoin price is not manipulated just like I said before. Hold bitcoin, you will make profit. Speculate accurately using past bitcoin price and you will make money as well. Do not use the wealth of 3 or top 4 billionaires in the world to compare bitcoin because these people you are talking about are not even investing in bitcoin. Compare them if all or most of their assets are in bitcoin, but which is not.

[macson]

Bitcoin value is tied to it's decentralized nature and the principle it was founded. if Bitcoin were to become centralized, it would likely have a significant impact on its value. the decentralized nature of Bitcoin is a key factor in it's value. Bitcoin decentralization have contributed to it scarcity and security. all of this which are factors that influence it's value.

if Bitcoin were to become centralized, it could raise concerns about the control, and the investors might loss confidence in it's ability to remain a reliable store of value and a medium of exchange. centralization could also make it suspicious to government regulation and restrictions, which could further impact on it's value.

in conclusion, Bitcoin value is derived from its decentralized nature, which is closely with it's ideal, and any move towards centralization could fundamentally alter it's core and diminish it's value proposition.

since the beginning of the current value of bitcoin was created due to the trust of buyers and also other parties and when bitcoin turns centralized of course that trust will be lost and people will switch to other crypto assets, apart from the loss of public trust in bitcoin the bad impact if bitcoin is centralized is vulnerability to manipulation, both by the government and influential people who live in this world. in conclusion, even if bitcoin becomes centralized, the price of bitcoin will still exist but the price will definitely be very easy to manipulate.

[posi]

-snip-
But OP's question is if it becomes centralized, is it worth it? And I think it will still be worth it, but it won't be as big as it is now. The value of bitcoin comes from people's trust and need, people need a decentralized asset to escape government control and bitcoin has provided that. So I also think that decentralization is what makes bitcoin so valuable.

When Bitcoin becomes centralized is it worth it?
It will never be worth it and it will just be a disaster and bitcoin will be abandoned.
Whatever the reason Bitcoin should still be decentralized and that is the main purpose of Bitcoin, the main purpose of Sathosi creating it.

We will never escape the attention of the government. Now that Bitcoin has become a popular digital asset and is used by everyone, governments are trying to slow it down and want to control it by providing regulations, imposing taxes on crypto users, and other things that will benefit the government.

I think if bitcoin becomes centralized it will still have value but its value will be decided by the government and will never be able to reach the high value it is now. But you are correct, the bitcoin centralization hypothesis will never happen anyway and the value of bitcoin will continue to go higher as it becomes more popular. We can also get rid of government control with bitcoin. Whatever method they can use, but they need to accept the fact that they will never be able to stop bitcoin and our use of it.