If you want Bitcoin to become a centralized system which is governed and controlled by only few people, then there are many other system you can easily switch to them like PayPal, western union Payments and most importantly banks. You will not face the problem of decentralized system which is governed by people, hence giving every individual power rather you will be a puppet in the hands of few people only.
Exactly. There's a wide variety of centralized choices in this world which are regulatory compliant and don't have scalability issues. However, I believe that decentralized payment systems like Bitcoin are the way to go for many obvious reasons. The level of freedom, and accessibility, allows Bitcoin and other cryptocurrencies to grow at a faster rate in terms of usage and popularity. Since no single entity can control a decentralized cryptocurrency like Bitcoin, people can rest assured that their funds are safe against freezing or confiscation from third parties.
Centralized systems like PayPal, Ripple, Visa, and Mastercard, are extremely vulnerable to freezing of funds, confiscation, single points of failure, and more. Therefore, Bitcoin would be best to stay as a decentralized cryptocurrency for years to come even if it must sacrifice its efficiency in the mainstream world, to maintain its true value proposition. Being decentralized, means that it's extremely resistant to external manipulation, attacks, and more. Just my thoughts
