Should Crypto Currency be centralized?

[Alex]

Before I ask this question, it's first essential to understand the difference between centralized and decentralized currency. In layman's terms, the centralized currency is controlled by a central authority like the government, and decentralized means there is no central control. Of course, decentralized doesn't mean there is no control, but there isn't any authority governing, monitoring, and inflating its supply.

So here's the thing Crypto's price supply cap cannot be altered or inflated, as there is no central authority where controlled money can be inflated. That's why we are seeing overall world inflation. So if Crypto was to be classed as legal tender like fiat money, would it be best to centralize or decentralize it and why? Of course, there are benefits and drawbacks to both sides of the argument, so I would love to hear you're thoughts.

Either way, governments worldwide can't continue to control us and lead our finances into the ground. Fiat currency, otherwise known as money, will not survive at this rate.

 

[Chrisfavz]

There have been a lot of downs than ups in recent weeks in the crypto world. The FTT meltdown is one that is still fresh in the minds of people and I think that is one reason a lot of governments are against it.

 

[Nomad]

Cryptocurrencies should not be centralized, if it is centralized the whole concept of decentralized money becomes zilch.

 

[Henrywrites]

Cryptocurrencies should not be centralized, if it is centralized the whole concept of decentralized money becomes zilch.

I agree with you on that. There is no need to centralize cryptocurrency. It should be allowed to flow on it's own.

 

[Nomad]

However, I also believe that crypto companies need to be regulated just like other financial institutions.

 

[Arantor]

The only way to regulate it is to at least partially centralise it.

I'd be fine with regulating it. It would immediate reduce the (vast) majority of its value, pop half the bubble and drop the value of producing more of it.

We're at the stage where an entire country's energy production is still being burned to crunch some numbers for the sake of mostly imaginary wealth.

 

[Heatman]

The government can go to hell for all I care when it comes to them controlling cryptocurrency. Let cryptocurrency be one thing that we have in the world they don't decide for us what happens in it. They are trying to screw cryptocurrency for years now but they will not succeed.

 

[Henrywrites]

The government can go to hell for all I care when it comes to them controlling cryptocurrency. Let cryptocurrency be one thing that we have in the world they don't decide for us what happens in it. They are trying to screw cryptocurrency for years now but they will not succeed.

When you put into consideration the amount of money investors have lost since the era of crypto coins came into existence, then you won't blame the government for trying to take a decision.

 

[Heatman]

When you put into consideration the amount of money investors have lost since the era of crypto coins came into existence, then you won't blame the government for trying to take a decision.

To the best of my knowledge, the government are not pushing to control cryptocurrency because they care about the investors money. They want it so because they want to start taxing cryptocurrency.