Quote from: GeorgeJohn on June 22, 2021, 09:32:01 PM

Quote from: Gozie51 on June 22, 2021, 09:14:45 PM

Quote from: GeorgeJohn on June 21, 2021, 08:27:12 PM

So in summary bitcoin is still decentralized currency.

I think this is a good reminder for people who are rushing into their wallets and on exchange to sell their hodlings either because of Elon musk tweet or that others are selling. Personally, I don't believe Elon musk tweet is the big cause of bitcoin drop but that it got to a time for huge correction. Bitcoin has this way to shield off unmerited value gotten from unnecessary hype either from some popular person tweeting or from a huge buy from an institution.

Also bitcoin is decentralised and that a good factor that it has grown this height. The control factor is out unlike fiat and some centralised coins like ripple. So it has no control or regulation which is a good reason that many invest .

Actually many people mindset since bitcoin is been dropped via values is that cryptocurrency is now becoming centralized currency, while the evidence is very clear that bitcoin is not under in control of any platform, it has its principle of regulations which government or any individual sector can not control or regulate its values, so paying attention or listening to Elon musk's tweet it will discourage so many people to disvalues bitcoin most especially the newly invested people into cryptocurrency.

The layman just goes with the flow of pumping to make a profit and Elon just wants to show himself whether he has any influence in the crypto world. For ordinary people, it is very influential, especially if he is a rich person in the world, but for people who understand the world of cryto and blockchain, this is just a game to take advantage.

It is not a measure for bitcoin to be centralized, only judged by the current price, because bitcoin is not influenced by institutions, exchanges and figures, Bitcoin remains decentralized.