That's certainly true, mate. Decentralized and Centralized systems may have their respective advantages/disadvantages, but it's best to balance between both to create a an effficient cryptocurrency. Bitcoin being a decentralized cryptocurrency, has some areas of it which are centralized. While there's no such thing as 100% decentralization, Bitcoin has managed to balance between both decentralization and centralization to create an efficient and stable system for the enjoyment of all.

Many would agree that Bitcoin's mining process is quite centralized. However, at some point, it's necessary to bring unmatched security to the cryptocurrency itself. Because of the many ASICs available right now on the network (although being mostly controlled by Bitmain), Bitcoin has managed to become extremely secure against external attacks. However, there could exist the possibility that Bitmain could attack Bitcoin with its 51% control of mining hashrate, effectively centralizing the cryptocurrency.

Making Bitcoin 100% decentralized, is nearly impossible, IMO since there will always exist a level of centralization within any kind of system. The most important thing is that Bitcoin stays as decentralized as possible, to prevent external manipulation and allow people from around the world to use it safely without worries. Just my opinion

I think that the btc is good because it is decentralized but in the nearest future it may become centralized and we will see how this happen in the nearest future. to my mind, governments will soon accept it

That is very easy decentralized, decentralization is what helped shape and form and make Bitcoin what it is today, people like to be able to stay under the radar and that is why I truly believe bitcoin will flourish..

Probably. However, anything could happen as everything is driven by greed nowadays. If Bitmain sees Bitcoin as the perfect opportunity to expand its profits over time, then they'll do whatever there is in their disposal to centralize the pioneer cryptocurrency for their own interests. Even worse, if the Chinese government starts pressuring Bitmain to attack the Bitcoin blockchain, it could successfully do so since it owns more than 51% of the total hashrate on the network. Nowadays, many people aren't concerned about this because they only care about making money with Bitcoin but not about its future and longevity as a currency for the enjoyment of everyone worldwide.

As soon as the negative effects of centralization are experienced in Bitcoin, then you'll see everyone worried about it, but it'll be too late. That's why I believe that developers and the community need to work together to help decentralize Bitcoin's mining process. By changing the PoW algorithm to an ASIC-resistant one, or simply devising an algorithm which makes mining pools useless, Bitcoin could achieve greater decentralization over the long term.

Nevertheless, Bitcoin is still considered as a decentralized cryptocurrency as it's open for anyone to join it. However, it's not as decentralized as it used to be in the past, since Bitmain has taken control of the mining process. Only time will tell us what lies ahead for the value proposition of censorship resistance within Bitcoin's blockchain. Just my thoughts

Decentralized is mucb better than centralized because in decentralized, you can avoid price manipulation, we are all free to manipulation. It is very helpful for community, no one owns us.

If i would be choosing between Decentralize and Centralize I prefer to choose Decentralize. First, It is a good thing that not only few will be helped by the project or thing that will be created. Second, as business was Decentralized the amount of profit is more than one country you will be offering. And lastly, commercial product will be popular like western products here in Asia. More and more people will prefer to buy and use that product.

Bitcoin is designed to be peer to peer (sendreceive). It is designed to be decentralized. That is why the technology behind it is BLOCKCHAIN. No 3rd party is involved to confirm transactions. The blockchain technology confirms the transactions. However, when exchanging form one coin/token, the services of a 3rd party may be involved. The exchanges now become centralized because a third party has come in. The idea behind bitcoin is:  “Be your Own bank”. No third party involved.

Blockchain technology can become centralized in the future, even if its purpose was to become a decentralized system after all. We've seen that private blockchains are a reality, as companies and even governments have established their own blockchains which only they have access to. Considering how centralized Bitcoin mining is becoming each day, there's a huge possibility that the original cryptocurrency would become a centralized system controlled by a few select individuals.

The problem here is the unfair mining process designed into Bitcoin itself, which has promoted mining pools with a lot of hashrate leaving the little guy (or small miner) out of the system. If somehow Bitcoin devs could devise a solution to put an end to mining pools, then without a doubt, Bitcoin will remain decentralized for a very long time. But until this happens, I don't see any improvement towards full decentralization, in my own opinion. All in all, I hope that won't be the case as Bitcoin remains decentralized for the benefit of everyone around the world.

In my opinion, bitcoin will be better if still use the element of decentralization. Because, by utilizing the decentralization element it's claimed to have many advantages, some of which can cut costs incurred and maintain other losses.


It's natural that many citizens want bitcoin to be centralized, maybe they still doubt about the security of bitcoin, both against hackers, manipulation, etc. Actually, that thing can be done if bitcoin has obtained its legitimacy rights.

Faster and cheaper transactions? Well, in the past it is but with a lot of transactions being made every single minute, I don't think the Blockchain can take it. That is the reason why some developments are made to make a solution to these problems.

It is efficient and so convenient but the problem is that it has still it's fees. There are a lot of other payment methods, faster and cheap, free in fact. So I don't think we need to say Bitcoin is great in terms of transactions or payment method. Bitcoin is a great investment, an asset that grows through time and I guess let's just stick to that.