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Author Topic: Bitcoin would had crashed by now if it was a centralized technology  (Read 187 times)
Asiska02
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July 12, 2024, 05:15:07 PM
 #21

The distinctive part of bitcoin technology is that it’s decentralized in nature and cannot be controlled by a single entity or group of people. It has become known for this nature and hated by the authorities that are suppose to fast track its adoption and massive use of it. It has become a burden on them that they can’t just keep struggling to make it centralized, rather they let it be decentralized. No government has ever loved the idea of bitcoin technology. I don’t know if we were to be in those shoes, we would feel the same, but who wants to be part of a corrupt system, none. The best thing that happened to bitcoin is its decentralization, and that is why it not a fairy tale today.

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Princess Leah
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July 15, 2024, 01:56:38 PM
 #22

The distinctive part of bitcoin technology is that it’s decentralized in nature and cannot be controlled by a single entity or group of people. It has become known for this nature and hated by the authorities that are suppose to fast track its adoption and massive use of it. It has become a burden on them that they can’t just keep struggling to make it centralized, rather they let it be decentralized. No government has ever loved the idea of bitcoin technology. I don’t know if we were to be in those shoes, we would feel the same, but who wants to be part of a corrupt system, none. The best thing that happened to bitcoin is its decentralization, and that is why it not a fairy tale today.
That's why most government kicked against it when it was first introduced, because they don't have controll of it and instead of fighting for the fast track adaption by implementing laws that supports it's use, they go about fighting towards the downfall of Bitcoin since they can't control and use it for their selfish interest.

 Satoshi did a good job by  making Bitcoin decentralised, and I think the government would try all the can but all hopes to make it centralised would be cut short and the least the can do is to regulate it's use, most government who were fully against it are beginning to see the benefit of Bitcoin technology and are lifting bans against it. But some others are still yet to understand hence the dislike for it.

 Well they're fighting a lost course because Bitcoin has come to exist and would exist for a very long-term and different government would come and go and watch it flourish, one thing I also love concerning Bitcoin is it's volatility, which is the ability to dip and rise again, I believe that's one of the things that keeps it going and last beyond expectations.

 
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