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MarkRoberts
Bronze Bitcoiner
Bronze Bitcoiner
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Joined: Wed Jan 13, 2021 10:19 am

Is Bitcoin actually Decentralized?

Fri May 21, 2021 10:51 am

Yes it is decentralised.

if a whale can impact the price, then yes. But other whales and masses are ready to scoop up those sell offs. If the underlying asset is good there will always be buyers ready to buy it at a discount.

CryptoStar19
Nickel Bitcoiner
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Joined: Fri Jun 11, 2021 3:47 pm

Re: Is Bitcoin actually Decentralized?

Mon Jun 14, 2021 8:45 pm

There is decentralization of bitcoin and then there is the decentralization of hashrate ---> roughly 5% of addresses hold 95% of all the bitcoin. That being said, yes, bitcoin holdings are decentralized as compared with fiat holdings or other cryptocurrencies. In terms of hashrate, there is a concentration of more than 50% of total hashrate in China, however that might change with the recent crackdown on bitcoin mining in China.

So overall, yes, bitcoin is decentralized.

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