Is bitcoin really decentralized?

May be when it first started it was decentralized and have no control, but as of today, Personally, I think bitcoin is not decentralized.

In today’s world, bitcoin definitely have those that calls the shots, and make the rules, though there are networks, partners working together to make the bitcoin system powerful and popular.

It is of importance to note that Blockchain platform (very popular bitcoin wallet manager) is not the only wallet manager that is available. We have other alternatives like coinbase, luno, localbitcoins and many more.

Just like the internet where everything is internetworked but government of countries like Usa, china, russia etal can monitor, hack into other countries internet platforms, same can be described about the authorities or those behind bitcoin management.

We also have those called bitcoin miners. Miners are those responsible for creation of new bitcoins and also the ones that facilitates, compute, calculate the bitcoin transactions.

On NaijaTech platform, we also buy and sell bitcoin, if interested, contact us here.

I will stop my discussion here, but I want contributions from every reader on whether bitcoin is decentralized or not with some proofs and explanations.


Reference: Bitcoin on Wikipedia


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