In Your Opinion: Is Bitcoin Still Decentralized?

[Suba]

In the last ten years, Bitcoin has not only been used as legal tender, but also as an investment instrument by corporations and institutions, and some countries have even used Bitcoin as a reserve fund. Many governments/countries obtain Bitcoin from confiscations. Even the US government, although it already has a large amount of Bitcoin, has also lowered plans to buy 200k BTC of Bitcoin every year for 5 years to increase national reserves.

According to the US Gemini crypto exchange, 31% of Bitcoin in circulation has been controlled by institutions. In my opinion, Bitcoin, which was originally intended as a means of exchange, has changed its function as a trading instrument, investment and has even been widely adopted as a portfolio for companies and countries. What do you think?

 

[riberet19]

Not entirely, with the centralization of mining, and the large purchases of Bitcoins by some institutions, governments, and large companies, I wouldn't say it is as decentralized as it was a few years ago. I believe this will be a gradual process towards centralization.

 

[Trush Jodie]

Bitcoin is still decentralized. Details of persons that are involved in bitcoin transactions are still anonymous. And transactions can't be tracked except done within an exchange.

 

[Trush Jodie]

Bitcoin is still decentralized. Details of persons that are involved in bitcoin transactions are still anonymous. And transactions can't be tracked except done within an exchange.