Post
Topic
Board Bitcoin Discussion
Re: Will Bitcoin become centralized sometime in the future?
by
Abiky
on 06/02/2018, 12:17:34 UTC
Bro, if bitcoin gonna be centralized,
there is no point of mining bitcoin. it is processed centralized,
so it doesnt need miner. the miner will lost its functions.
but i think thats not gonna be happen.

I hope so. Because if Bitcoin becomes centralized in the future, then there would be no point in using it and even mining it, as the cryptocurrency would become the same thing as traditional financial systems. The whole purpose of Bitcoin was (and still is) to decentralize finance and eliminate external control. As such, it should not rely on politics, governments, or any external entity to ensure its survival in the mainstream world.

Just as Gold is decentralized (nobody can control or issue more Gold than what it already exists), Bitcoin is the same in the way that no one controls it. Of course, it still has some things that need to be addressed to ensure full decentralization, but until now, it has been doing fine and it's the strongest cryptocurrency to date. Thus, the more geographically placed nodes and mining hashrate appear on the Bitcoin network, the more stronger and decentralized it will be. Time will tell when Bitcoin becomes virtually unstoppable on planet Earth. Just my opinion Smiley