Quote from: Abiky on June 13, 2018, 09:16:31 PM

Quote from: MakLampir on June 12, 2018, 04:36:30 PM

day by day btc becomes more centralized as there are just some mining companies that want to become the monopol in mining or claim that they own some true companies which will make it centralized one way or another.

Yes. That's very unfortunate for Bitcoin, as now big mining pools have the most dominance over the Bitcoin network. This in effect, removes small miners (or everyday people) from participating on the security of the network, increasing the risk of 51% attacks over the long term. As such, Bitcoin can be considered as a semi-decentralized cryptocurrency, instead of an 100% decentralized cryptocurrency.

The way I see it, a decentralized cryptocurrency would need to have a fair consensus algorithm, fair distribution, and geographically distributed nodes. In this sense, it would be completely impenetrable against external attacks, making a full decentralized cryptocurrency that's built to last.

Despite this, it's better for Bitcoin and other cryptocurrencies to preserve their decentralization, as that's the purpose why blockchain technology was created in the first place. Being censorship resistant, immutable, and transparent, is what makes a blockchain highly secure, efficient, and successful for years to come. Therefore, I believe that decentralized cryptos like Bitcoin will most likely succeed over centralized payment processors in the future. Just my thoughts Grin

,whether we like it or not, those companies has something and they can afford to make it in their own hands, since they have enough money to sustain mining rigs and we all knew what's next of it. sadly but that is the reality of how the social and financial standards affects certain areas such as bitcoin itself.