We all know that one of the main reasons why bitcoin has been surviving is due to the fact that it has always been a decentralised digital currency. However, I think that if bitcoin were a centralised currency, then things could be a bit different from what it is now. It does not necessarily mean that it would have had been shutdown, as there are many other centralised currencies that have not been shutdown. So, what would be the condition of bitcoin if bitcoin were a centralised currency?