My people, please I need some clarification here. Help me understand this. I am a bit confused.
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This is you thinking out for me
I do have this confusion too.
What if I say BTC is decentralized
And altcoin is centralized?
Would make sense??
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Well I got this to share.
Cryptocurrencies are designed to be decentralized, meaning they are not controlled by any single entity or authority.
Instead, they are maintained and secured by a decentralized network of users, often referred to as a blockchain.
This decentralized structure is one of the key features that sets cryptocurrencies apart from traditional currencies and payment systems, which are often centralized and controlled by a government or financial institution.
Additionally, it’s worth to note that some aspects of the cryptocurrency ecosystem, such as exchanges and mining pools, can be centralized.
Additionally, some cryptocurrencies may have more or less decentralized governance structures, depending on how their protocols are designed.
So while cryptocurrencies are generally designed to be decentralized, the degree of decentralization can vary depending on the specific cryptocurrency and its ecosystem.
Hope this is understood?
Any questions here
I will answer.
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lol exactly and even with that of btc, the whales control us sometimes
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thank you brother, this is a good explanation.
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Bro, that is correct
What is I say
Crypto is a collection of centralized body of whales acting as decentralized body under the blockchain technology.
Lols
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This is another point.
Bitcoin is decentralized as we know, read.
But whales collectively
Can influence with their moves.
Example imagine most whales holding 1% of total coin decided to buy or sell massively.
We know the outcome.
I feel that CRYPTO is decentralized.
But CRYPTO prices are centralized.
Hope I’m making sense??
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hahahaha exactly
some are here to help and some are here to increase their wealth
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Exactly,
I saw a post where you where trying to understand why TRUSTLESS?
IN CRYPTO, I feel when once you attain the level of whales
Majority Think about thier wealth and holding.
We the small traders or retailers
Get to suffer or enjoy
From their whales movement.
Trustless here meaning
Trust no whales
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hahahaha sometimes I see people saying we are in for tech but same people will complain when there is a fall in prices of coins
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Hahaha
Understand tokenomics of crpto ( coin, token Nft)
Is one big way to understand
How the prices behave
Buena pregunta, te las venden como descentralizadas, con sueños de que nadie va a influir en el activo que compres porque está sujeto a una blockchain, la cual no depende de gobiernos ni bancos.
Centralizada en el momento que debe ir a la par con una moneda fiat, no tiene sentido.
. 2. Para hacerla efectiva en un exchange deja de ser descentralizada, todo el mundo sabe quien eres (la moneda debería ser empleada como medio de pago, sin control de ningún tipo)
.3. Descentralizada, donde cada cual envia y recibe moneda sin el control de nada ni de nadie.
.4. La Sec y el fondo monetario internacional no pintan nada, caso que no es así.
.5. La regulación de la moneda debería ser cosa de la comunidad, para ser descentralizada.
Y más cosas, de momento una utopía.
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agree brother
you are 100% right
thank you
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completely centralized, no doubt
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that’s how I see it too brother
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Cryptocurrencies can be either centralized or decentralized. Centralized cryptocurrencies are controlled by a single entity or organization, which makes decisions about the currency’s development, usage, and security. Decentralized cryptocurrencies, on the other hand, are governed by a network of users without a central authority. Decentralization provides greater transparency and security, since no single entity controls the currency or has the power to make decisions about it. Instead, the currency’s development and usage is determined by the collective decisions of its users.
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Ok so if we have a centralized tokens, that means it does not conform to the original idea of Satoshi.
I think one of the main goal is decentralization
Thanks for clarification
You very Correct.
Some CRYPTO are simple centralized
Well, as the some of the activities of some coins
May make it centralised
Even if it was built as decentralized.
Example
Large holding by team,
Or it REGULATIONS
Let me ask this here too
If web 3 are really decentralized why do we still have founders?
Then I also see that can now freeze some wallet. Meaning not really decentralization
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