Re:BTC Endgame
by hertzrat on Friday February 19, 2021 @05:28PM
(#26198859)
Will Bitcoin even be that decentralized in 50 years? The miners control the network, and most mining is done by big companies now and their data centres. If it’s like other companies, won’t they gradually acquire one another until there is only 1-2 companies controlling almost the entire future crypto economy? The scale of the computing power we are talking about is not something that individuals can compete with
[ Parent
| on HN ]
I've posted here before about it. I'm of the opinion that it currently is not decentralized. There is such a shortage of hardware that can be competitive right now and there are only a few organizations that can get their hands on them. I think this problem is just going to get worse when the manufactures start to realize it doesn't make sense to sell any of their miners at all.
Agree, the electricity for the mining is even more centralised. That really is the point of control on this whole thing.