Is Bitcoin really decentralised

[justdimin]

Bitcoin is totally decentralized because no one can control price of BTC and people are investing more money in that and it's supply is limited and millions of people are taking interest and it's price is not going down . There are thousands of people who are Investing money and they are earning best and they have profession or investment in this. People have to learn more because many people are doubtful to invest in cryptocurrency and we many projects are doing scams by using name of cryptocurrency and these are destroying respect of BTC in the market but intelligent people know that BTC is best investment which will be doub in next 2 years .Don't worry if anyone want to be investor of this because it will change life of them

Decentralized isn't "can't control price of bitcoin", because they can, Trump could come out, say bitcoin is not legal strategic reserve and they will buy 100 billion worth in 6 months and suddenly price goes up, or he can come out and say he is banning trade or ownership of bitcoin and it would crash. See? He controlled it, this is true for many nations, or media.

Decentralized means, they can't control the blockchain, meaning if your money is in your wallet, then nothing will change and we should be considering how nobody can touch it , and it will stay the same way. We need to focus on how to make money with what we already have, and if we can do that then we are going to end up with a lot of profit because we would be understanding how decentralization works.

[lionheart78]

Bitcoin is totally decentralized because no one can control price of BTC and people are investing more money in that and it's supply is limited and millions of people are taking interest and it's price is not going down . There are thousands of people who are Investing money and they are earning best and they have profession or investment in this. People have to learn more because many people are doubtful to invest in cryptocurrency and we many projects are doing scams by using name of cryptocurrency and these are destroying respect of BTC in the market but intelligent people know that BTC is best investment which will be doub in next 2 years .Don't worry if anyone want to be investor of this because it will change life of them

Decentralized isn't "can't control price of bitcoin", because they can, Trump could come out, say bitcoin is not legal strategic reserve and they will buy 100 billion worth in 6 months and suddenly price goes up, or he can come out and say he is banning trade or ownership of bitcoin and it would crash. See? He controlled it, this is true for many nations, or media.

I believe influence is the right word when someone affects the movement of the price of Bitcoin.  No one is able to control the price of Bitcoin as far as I know, all they can do is influence it.

Decentralized means, they can't control the blockchain, meaning if your money is in your wallet, then nothing will change and we should be considering how nobody can touch it , and it will stay the same way.

True! They can't just release an announcement and boom the protocol of Bitcoin is now new.  Besides, every change, upgrade, and update on Bitcoin technology needs to be agreed in a consensus.  That is why it is called decentralize, because there is no point or central authority in control.

[Ucy]

Bitcoin is decentralized. And to be decentralized means power and control over it is not restricted to certain people or persons. Anyone can be part of the Bitcoin system and contribute to its development and running (unlike the fiat system), as long as no harm or evil will be done.

Bitcoin is not tied to fiat. To be tied to fiat means it's connected to fiat, and both influencing each other. The right words are Bitcoin is priced in fiat, or the worth/value is measured in fiat, and they do not influence each other. It can be priced in gold, silver, oil, etc, this doesn't mean it's tied to them.
 Whenever the price of USD seems to weaken against Bitcoin(for example), the USD price of Bitcoin tends to increase. This is because as Bitcoin becomes more valuable to people, they rush to buy, demand increases, it becomes scarce, buyers try to out-bid one another by increasing the amount they are willing to pay for bitcoins above the former price to entice the owners to sell to them first.
 But when USD increases, it may strengthen against Bitcoin assuming the value of Bitcoin does not increase at the same time, as it does increase more often than the dollar, whiich is why it's way more valuable.
This is not just Bitcoin and dollar, whatever increases in price will make the price of the others that are stable look lower. Doesn't mean it's influencing or even affecting the price of the others



By the way, if governments or centralized world control Bitcoin, they would be able to predict the price. But they're unable to because they don't control it. It is simply beyond their control.
Some entities try to deceive the gullible by buying Bitcoin when they are certain it will increase in price, like during halving period or positive developments that are tied to Bitcoin core principles. They just take advantage of this factors to buy bitcoins & benefit from the price increase, and probably make people think their buying bitcoins makes the price to increase.

[Macro Exchange]

Decentralisation means that bitcoin is not controlled by the government or banks..which is fair.

 How ever when you think about it, it is not entirely free from fiat and its value has to be tied to fiat.. in this case USD.

 Fiat in itself is affected by government policies and banks and so many factors.

If you trade or have a little knowledge abou the crypto and Forex market, especially fundamentally with news, you might have discovered that major news events like CPI( consumer price index) and NFPs when there is a positive move on the USD, bitcoins value is affected too .. Even While most of its value is contributed to by transactions, halving and so on

 With this does it really means it is totally independent from central control even if not directly manipulated?

Just recently, a major global internet outage disrupted services like Google Cloud, AWS, and Telegram. If such disruptions escalate, any group with exclusive internet access could potentially dominate hashrate or manipulate PoW chains...

[RealNoblee]

Bitcoin is not actually decentralized because it has accessible software which anyone can make changes.

So many thousands of transactions are made without  restrictions unless if the transaction is fraudulent.

[Fortify]

Decentralisation means that bitcoin is not controlled by the government or banks..which is fair.

 How ever when you think about it, it is not entirely free from fiat and its value has to be tied to fiat.. in this case USD.

 Fiat in itself is affected by government policies and banks and so many factors.

If you trade or have a little knowledge abou the crypto and Forex market, especially fundamentally with news, you might have discovered that major news events like CPI( consumer price index) and NFPs when there is a positive move on the USD, bitcoins value is affected too .. Even While most of its value is contributed to by transactions, halving and so on

 With this does it really means it is totally independent from central control even if not directly manipulated?

Well I'm not sure your observation stands true, because you can find bitcoin priced against almost any currency in the world right now, it just happens to be that is dollars are the most commonly sought after. You also miss the fact that bitcoins have a fixed amount that are ever going to be in circulation, so while the dollar might devalue the amount it costs to buy a bitcoin with USD will only go up. There is some correlation between bitcoin and the US economy, but I would not tie that directly to the US dollar as they are connected but distinct entities. It's never going to be totally independent of government policy influences, especially when we saw major falls when it looked like the EU or US had ideas about banning it years ago

[red4slash]

 With this does it really means it is totally independent from central control even if not directly manipulated?

It cannot be used as a benchmark because in the end people including me who link bitcoin to fiat only to see the value of bitcoin itself and the fact is that for now we can see that in the end value growth continues to occur and that can only be obtained if we convert or link bitcoin to fiat because even if the number of bitcoins is the same but the value will change.

Decentralization means that no one has control or no one can control it so that in the context of bitcoin indirectly no one can control bitcoin even if it is a government that has its own authority and things like this are indeed an inseparable fact now where we include the government or people who have power cannot and will not be able to control bitcoin in terms of circulation and progress.

[BenCodie]

Bitcoin is totally decentralized because no one can control price of BTC and people are investing more money in that and it's supply is limited and millions of people are taking interest and it's price is not going down . There are thousands of people who are Investing money and they are earning best and they have profession or investment in this. People have to learn more because many people are doubtful to invest in cryptocurrency and we many projects are doing scams by using name of cryptocurrency and these are destroying respect of BTC in the market but intelligent people know that BTC is best investment which will be doub in next 2 years .Don't worry if anyone want to be investor of this because it will change life of them

Decentralized isn't "can't control price of bitcoin", because they can, Trump could come out, say bitcoin is not legal strategic reserve and they will buy 100 billion worth in 6 months and suddenly price goes up, or he can come out and say he is banning trade or ownership of bitcoin and it would crash. See? He controlled it, this is true for many nations, or media.

Decentralized means, they can't control the blockchain, meaning if your money is in your wallet, then nothing will change and we should be considering how nobody can touch it , and it will stay the same way. We need to focus on how to make money with what we already have, and if we can do that then we are going to end up with a lot of profit because we would be understanding how decentralization works.

That's correct. The distribution of supply is one topic, the distribution of network/hash power, amount of nodes syncing with the network, developers maintaining/updating the code, and so on are all other factors that go into measuring decentralization. Though the most important aspect is the decentralization/integrity of the ledger itself (being the underlying blockchain), which comes down to the decentralization of consensus (mining). If transaction recording and validation isn't decentralized, nothing can be trusted.

[JiiBs]

How ever when you think about it, it is not entirely free from fiat and its value has to be tied to fiat.. in this case USD.

Fiat in itself is affected by government policies and banks and so many factors.

If you look at it this way, you might as well get a whole lot of things wrong. Bitcoin isn’t tied to fiat and certainly not the USD. It is used analytically as a unit of measurement and it stands as the standard currency or unit for measurement. That’s why you might say this but, it’s far from being tied to fiat.
It doesn’t matter what the government does with their fiat currency, that has got nothing to do with Bitcoin since, they don’t get to determine its price and have nothing to do with how it’s used or made available to people.

[JeffBrad12]

Bitcoin is not actually decentralized because it has accessible software which anyone can make changes.

So many thousands of transactions are made without  restrictions unless if the transaction is fraudulent.

That doesn't make sense.
Bitcoin has accessible software because it IS decentralized, anybody can contribute to the network, anybody can make change but they will be expelled from the network.
Also, the fact that there are thousands of trransactions being made without restriction means it's decentralized isn't it?
Your statement contradicts itself.

[Oluwa-btc]

.., one cannot really not deny the fact that in the long run it really cannot be independent of fiat influence

Practically, Bitcoin is still heavily connected to fiat economies these days, though this influence may reduce over time if Bitcoin adoption increases and parallel economies grow. And, technically, Bitcoin operates independently, which is obvious.

The technology behind Bitcoin's decentralization is multi layered and structured which makes it difficult for government to interfere and easily terminate.And since it's been decentralized,nobody can easily control it and I feel delighted all the time that Bitcoin against all odds still keeps improving other than depreciating in value and functions.

[Gost ms]

How ever when you think about it, it is not entirely free from fiat and its value has to be tied to fiat.. in this case USD.

Don't get it all wrong, bitcoin value is not tied to fiat currency, you can only discover that the value is measured in USD worth and not USD currency itself, the same way other currencies worth are measured in the monetary value of USD.

With this does it really means it is totally independent from central control even if not directly manipulated?

What determines the market price of bitcoin is it's demand and supply, how people are buying and selling it majorly, also, we could use some of the fundamental analysis or the technical analysis to determine it's short time reaction, fundamental is about the economic news and updates happening, they are not mostly affecting the price all time.

Don't you think that these news events also contribute to the demand of the currency... I'm not trying to argue that it's not decentralised, however if you can predict it using fundamental analysis then you could say that the economy, and government may have a little bit of control

It is never right to doubt that Bitcoin is not completely decentralized. But yes, Bitcoin has some effects, like if there are many big people who make bad comments about Bitcoin, then the Bitcoin market will see an ups and downs or if the country's monetary policy, which is the situation, gets worse, then Bitcoin can be affected. For this reason, if we call Bitcoin from decentralized to centralized, then I think it is a complete mistake.

[GiftedMAN]

Bitcoin is not actually decentralized because it has accessible software which anyone can make changes.

So many thousands of transactions are made without  restrictions unless if the transaction is fraudulent.

When Bitcoin was initially created, it was decentralized and as time goes on as technology keeps advancing, more sophisticated tools are being created that are capable of tracking any Bitcoin addresses.
The advancement in technology is making it looks like Bitcoin blockchain is not fully decentralized. A time will come when we would have to use more secured tools to safeguard our transactions due to the successful completion of quantum computers.

[Marvelockg]

Decentralisation means that bitcoin is not controlled by the government or banks..which is fair.

 How ever when you think about it, it is not entirely free from fiat and its value has to be tied to fiat.. in this case USD.

if you make a quick comparison of bitcoin being a decentralized asset and other currency that are not decentralized, you will easily find that there is an obvious difference between bitcoin and most of the other asset because decentralization is never the same with the responsiveness of bitcoin price to the actions of the whales. if bitcoin was completely decentralized, it would have gone really bearish before now because more than the effect of government and private institution buy decision affecting bitcoin price, they would have made it such that everything is entirely dependent on them which would have been really bad for the bitcoin community. it was bound to happen once bitcoin become mainstream that there is going to be some sort of thing that will look like a regulation but in all honesty, bitcoin is never decentralized regardless of it responsiveness to government policies and buy decision.

[CageMabok]

It is never right to doubt that Bitcoin is not completely decentralized. But yes, Bitcoin has some effects, like if there are many big people who make bad comments about Bitcoin, then the Bitcoin market will see an ups and downs or if the country's monetary policy, which is the situation, gets worse, then Bitcoin can be affected. For this reason, if we call Bitcoin from decentralized to centralized, then I think it is a complete mistake.

The possibility that you said is indeed not impossible to happen to Bitcoin, but for now and even in the future I don't think all big people will say bad things about Bitcoin because that will only happen to people who don't like Bitcoin so they always try to bring down Bitcoin through bad news. However, we can all see how Bitcoin is still growing very well until it has passed ATH several times this year. So that is quite accurate evidence that not all big people hate Bitcoin and even most of the rich people and big companies already really like Bitcoin for now.

[harapan]

Decentralisation means that bitcoin is not controlled by the government or banks..which is fair.

 How ever when you think about it, it is not entirely free from fiat and its value has to be tied to fiat.. in this case USD.

 Fiat in itself is affected by government policies and banks and so many factors.

If you trade or have a little knowledge abou the crypto and Forex market, especially fundamentally with news, you might have discovered that major news events like CPI( consumer price index) and NFPs when there is a positive move on the USD, bitcoins value is affected too .. Even While most of its value is contributed to by transactions, halving and so on

 With this does it really means it is totally independent from central control even if not directly manipulated?

Well yes Bitcoin is decentralized cause it's not been controlled by any superior body other than for personal preference and usage, and it's due to its decentralized state that the government are finding it being subjected to  having the influence of adoption but it has to be  merged with fiat to ease the process, so yes it's totally independent from central control and government policies.

[Josefjix]

Remember Bitcoin is a digital currency and every currency is paired to another to keep track of its value comparing to USD. It doesn't mean the quantity of Bitcoin you may have is altered.

Another, you can't acquire Bitcoin from the thin air, except it passes through the centralized means of quotation off the bank or cash, so it's just an interchange means of acquisition but doesn't mean it's centralized.

Decentralization still stands and no other body has ever and can never destroy it.

[Mehmet69]

Decentralisation means that bitcoin is not controlled by the government or banks..which is fair.

 How ever when you think about it, it is not entirely free from fiat and its value has to be tied to fiat.. in this case USD.

 Fiat in itself is affected by government policies and banks and so many factors.

If you trade or have a little knowledge abou the crypto and Forex market, especially fundamentally with news, you might have discovered that major news events like CPI( consumer price index) and NFPs when there is a positive move on the USD, bitcoins value is affected too .. Even While most of its value is contributed to by transactions, halving and so on

 With this does it really means it is totally independent from central control even if not directly manipulated?

We need to understand that decentralization means that Bitcoin is not under the control of any government, bank, or any institution. But Bitcoin is also related to fiat currency, because we all use fiat currency of some country or the other. If we need a product, we buy and sell it with fiat currency. Bitcoin is a digital asset. It has its own accounting system. Bitcoin is calculated through Satoshi. But for our own convenience, we have connected Bitcoin to fiat so that it is easier to understand and maintain. If we have done something for the good of all, then we cannot blame it for that work. In this case, we cannot impose anything on Bitcoin. Bitcoin has been in a state of decentralization since its creation and will continue to be in the future.

[peter0425]

Another, you can't acquire Bitcoin from the thin air, except it passes through the centralized means of quotation off the bank or cash, so it's just an interchange means of acquisition but doesn't mean it's centralized.

The point of centralization is there is no third party having to approve your transactions. If for example you use p2p to buy or sell bitcoin, then there is no need for it go through a body of power. No one would know you bought bitcoin aside from the person you bought it from and even with the transaction visible on the blockchain, your identity is sealed.

Decentralization still stands and no other body has ever and can never destroy it.

There are many ways to threaten bitcoin's decentralization but it can't be easily owned by an entity so no need to worry about this.

[HONDACD125]

What you are talking about is not centralization, because centralization means that an entity should have complete control over the network, it's transaction, and be able to do anything with parties involved in using the network, inckuding but not limited to freezing, confiscating their funds, not allowing their transactions to go through, asking them for additional information for any reason, etc. You can find all these things in traditional financial systems, such as banks, because they are centralized and are in complete control of your account and the funds in it.

Only because an asset's value is checked and determined using centralized currencies it doesn't mean that the asset itself is centralized. Bitcoin is currently not accepted everywhere, so its value has to be determined based on currencies that are being used everywhere, and since USD is an international currency, it's mostly used to determine the prices of goods and assets, especially the ones that are only available online.