If Bitcoin is centralized, will other cryptocurrencys survive ?.

[nelson4lov]

Given the fact that Blockchains operate independently of one another, Bitcoin being centralized (it's not centralized, just an example) - Then I'm not sure it would likely have an adverse effects on other chains since they all operate independently and have their own protocol governance. The only matter of concern is how the market would react it considering the fact that Bitcoin is the biggest blockchain network right now. But with that, I feel the market would recover afterwards if that's your concern. So in hindsight, (Bitcoin already had a fork) and it played out fine because other blockchains were independent of one another.

[panganib999]

The common misconception about bitcoin and cryptocurrencies is that they are within the same house, operating like cogs on a clock that if one part breaks, the rest of the ensemble is expected to stop working. In reality it's more like a factory, where bitcoin is the top employee of the month and the rest of the cryptocurrencies in the market are its co-workers. Say bitcoin decides it wants to become centralized, will the other cryptocurrencies be forced to centralize themselves as well? Possibly. After all, if the top performer does it, it could be the reason why it's performing so well. Are they forced to do it though? Not really. The rest of the cryptocurrencies can go on with their decentralized lives and perform just as well as they did before. I hope this analogy makes understanding the industry a little easier.

[Stable090]

with all this put down here, I'm still not convinced. I need your opinions that, if Bitcoin is been centralized can other cryptocurrencies survive .

The decentralization of bitcoin is what has made it survive to date. If bitcoin becomes centralized, it will be manipulated like other fiat currencies, and investors will withdraw their bitcoins because many of them have huge amounts of money that have been invested in bitcoin, which, if it can be controlled by the government, seriously puts them at high risk of losing those funds. Or maybe the bull run we are expecting will not come as we want until the government says something about the price, and you know some alternative coins depend on bitcoin price to fall or rise.

Once bitcoin becomes centralized, alternative coins may crash, and even if they survive, people will only use them for investment because of the profit they may generate during the bull run. But they will not last like bitcoin because, as you know, many of these alt coins are centralized, and anything can happen. The coin may crash, and the investors may lose the funds that have been invested.

[Zlantann]

with all this put down here, I'm still not convinced. I need your opinions that, if Bitcoin is been centralized can other cryptocurrencies survive .

Many people are dealing with Bitcoin not because of the profit they are making from the currency but because it is decentralized. Decentralization is the beauty and heartbeat of Bitcoin. If Bitcoin becomes centralized which is unlikely to happen, investors will dump it and move to other cryptocurrencies. The fall of many centralized exchanges has shown most investors the negative effect of centralization. Bitcoin being the pathfinder of the crypto world will not be centralized because centralization will give rise to government influence and possible attacks. To answer your question, if Bitcoin becomes centralized there will be a loss of confidence in the crypto sector. But some altcoins might take over the leadership of the sector if they can prove to investors that they are truly decentralized. I don't think the crypto sector will collapse because Bitcoin derailed from the course.

[seoincorporation]

If bitcoin gets centralized or even if bitcoin dies the other coins will survive because they run in their own blockchains, In the end, bitcoin is independent from other blockchains, if it works or not it doesn't affect the other coins.

The only thing we would see would be a change in the markets, maybe ETH takes the place of number one in the market and the other coins' price becomes now on ETH price based. That would be my prediction.

[mendace]

I don't understand how Bitcoin can become centralized, what makes you think it can become centralized?  Its protocol provides for a distribution of nodes based on pow and this means that it remains decentralized forever, only if 51% of the nodes were obtained we could speak of a desirable centralization, but it is something that will never happen.

[sheenshane]

If Bitcoin becomes centralized?  In the first place investors will not trust and doubt is always of those who adopted Bitcoin.
It could potentially be causing a loss of confidence among investors and users of this technology and could lead to a domino effect, affecting other cryptocurrencies that also rely on the principles of decentralization and trust IMO.

So there's nothing more exciting when Bitcoin becomes centralized and backed by the government and it could be vulnerable to attacks, manipulation, or external pressures, potentially impacting national security and financial stability.
So that is why it was created as a decentralized we know the purpose.

[Dr.Bitcoin_Strange]

If Bitcoin is centralized, will other cryptocurrencys survive ?.

Yeah, Bitcoin is the top-ranked coin in the crypto market because it has the highest trading volume and is listed on every exchange. Bitcoin holds the market, and it's the reason why some people are even Investing in crypto, so if perhaps Bitcoin becomes centralised and the price is affected negatively, it's going to bring down every other cryptocurrency. Although they will survive if Bitcoin lives on, but a lot of Altcoins are going to become shitcoins instantly, and investors would suffer a great loss.

[dansus021]

the answer is another cryptocurrency will survive like now because the some of altcoins had different purposes and for now I considered Bitcoin as digital gold or to use as a store value. While altcoin can use as other thing like saving medical record or authentication as an art. and it will be there

[fauzan Ichsan]

If Bitcoin is centralized, will other cryptocurrencys survive ?.

Yeah, Bitcoin is the top-ranked coin in the crypto market because it has the highest trading volume and is listed on every exchange. Bitcoin holds the market, and it's the reason why some people are even Investing in crypto, so if perhaps Bitcoin becomes centralised and the price is affected negatively, it's going to bring down every other cryptocurrency. Although they will survive if Bitcoin lives on, but a lot of Altcoins are going to become shitcoins instantly, and investors would suffer a great loss.

basically bitcoin carries a decentralized system which is considered more effective than the current system which is centralized, if bitcoin follows a centralized system, I can't imagine, of course there will be negative sentiment on bitcoin which ultimately leads to investor confidence that supports the decentralized system, until finally the price of bitcoin falls and this has an impact on altcoins which will also follow the collapse of bitcoin

[vv181]

if Bitcoin were to become centralized, it could potentially impact the overall trust and decentralization principles that many cryptocurrencies holds, and is valued.~

I need your opinions that, if Bitcoin is been centralized can other cryptocurrencies survive .

Supposes bitcoin is centralized I do believe other cryptocurrencies will survive. But currently, even though Bitcoin held firmly its principle, any other coin are not having any decentralization that is close to Bitcoin. In fact, some of them only use the word decentralized as a buzzword. So the reality is that other cryptocurrencies did not maintain that aspect as a priority. Given that, if Bitcoin somehow loses its credibility, I don't think there will be something wrong with the sustainability of other cryptocurrency projects.

[icalical]

If bitcoin were become centralized but the technology are still using blockchain, I think there will be another crypto that is decentralized, bitcoin will definitely not as popular as now, but other crypto will still survive. Maybe there will be other cryptos that are decentralized, and other crypto will be centralized, even those centralized crypto will survive, as we can see now there are a lot of centralized crypto like ETH and SOL that is quite popular.

[laurenB7742]

If bitcoin were become centralized but the technology are still using blockchain, I think there will be another crypto that is decentralized, bitcoin will definitely not as popular as now, but other crypto will still survive. Maybe there will be other cryptos that are decentralized, and other crypto will be centralized, even those centralized crypto will survive, as we can see now there are a lot of centralized crypto like ETH and SOL that is quite popular.

Fortunately, bitcoin is decentralized and no one can change that. But in the case of bitcoin being centralized, I don't think there will be another coin that can be decentralized because apart from bitcoin being created to be currency decentralized, all altcoins are designed to become an investment. How can someone create a decentralized coin when their goal is profit? Only bitcoin is decentralized because Satoshi didn't intend to make it an investment but because we made bitcoin an investment.

But whether bitcoin is centralized or decentralized, altcoins will still be created and will survive because that is the financial playground that market makers create to make a profit, they will not give up easily it.

[Crypt0Gore]

I think decentralized is the biggest part of Bitcoin, do you know how many other coins wanted to walk in the same path as Bitcoin but failed to make it work? If Bitcoin becomes centralized it makes no sense anymore and billions of dollars will exit Bitcoin for other coin, I don't have a name but I believe that's what will happen.

So many whales feel comfortable buying and holding Bitcoin because it's decentralized, if it's something the government can control I myself won't be in Bitcoin right now, the 1st position that belongs to Bitcoin will be shifted, and Bitcoin will slowly be forgotten.

I can't see any altcoin that's truly decentralized like Bitcoin, maybe there is but I doubt that it will be fully accepted like the way people accept Bitcoin.

Anyways this conversation is all about what if, so it makes no sense looking for what could replace Bitcoin's position.

[Blitzboy]

Centralizing Bitcoin would be an obscenity in its perfect design.

In terms of influence: Bitcoin's massive market dominance can affect altcoins, but its more than statistics. Trust, honesty, and decentralization transform. You think altcoins can endure due of their uniqueness? Without Bitcoin's decentralization's confidence, these special qualities are worthless.

Every altcoin today was inspired by Bitcoin. How can crypto derivatives not suffer if the gold standard is compromised?

Your final point on universal acceptability Giving value is superficial. Bitcoin has constantly supplied ideals, trust, and utility, which create value. Should it centralize? The crypto world would be in chaos and distrust.

[Ale88]

if Bitcoin were to become centralized

You should explain a little bit better how this would happen considering that it never happened until know and pretty much everybody knows that one of the biggest bitcoin advantages is its complete decentralization, so if you remove that the whole project would lose a lot of credibility. But again, how would that happen? Otherwise we're talking about nothing...

[MFahad]

If bitcoin become centralized then I think people will follow its success and no matter it is centralized or decentralized because people always select that way which gives them earning ability.

Other coins already deepens on bitcoin so when bitcoin become centralized then it will depends on the demand for bitcoin, if more people demands for bitcoin then surely there will also be good impact on other currencies otherwise other coins will loss their value like that of bitcoin.

[romero121]

Bitcoin is decentralised and we've got more altcoins that are centralized. Those coins are successful in the market. Based on the decentralised functioning bitcoin is more popular, maybe this popularity could've been low as it is same as other currencies. Only the limited supply stands as the unique feature from the traditional currencies. The same could've made the usage come down.

[Darker45]

If Bitcoin were not decentralized, it wouldn't have earned the interest and trust of the people and institutions. Which means that it wouldn't have even taken off. The price of Bitcoin would have remained very low, if at all. This further means that cryptocurrency wouldn't have become a huge thing like today. There'd be no crypto market. Neither would there be a crypto industry. Every altcoin wouldn't have existed, knowing that they are all riding on the success of Bitcoin. That success is owed to its decentralization.

[tygeade]

factors like community support, technological advancement, and real -world adoption can contribute to the survival of alternative cryptocurrencies in such a scenario.

 Because cryptocurrencies are basically a cryptographic contracts that exist and are running on their individual Blockchains on its own, and it doesn't hold any value. what gives it value is the concept of general acceptability, so the nature of one cryptocurrency can not affect the other if the community behind it so believe or want it so.

with all this put down here, I'm still not convinced. I need your opinions that, if Bitcoin is been centralized can other cryptocurrencies survive .

"if" bitcoin is centralized, others will not survive. Also "if" bitcoin is owned by a single person and nobody else, no other currency will survive, or "if electricity is gone" then bitcoin won't survive, and same as "if the whole world blows up, bitcoin won't survive". We should stop considering these unrealistic stuff and start considering a bit more serious stuff as well.

We are talking about things that will not happen like they will happen but we all know that it is not going to happen at all. So, if we keep on trying to figure out how to do something like this, then we are going to end up with a problem and that's not going to end up being anything good at all. So long story short we should be ignoring all these FOMO stuff.