Part 10/13:
Addressing concerns about mining centralization—especially in China—the speaker argues that this is driven by pragmatic incentives: abundant cheap electricity, concentrated generation capacity, and entrepreneurial activity. Mining acts as an energy storage mechanism, turning excess electricity into valuable assets. As Moore’s Law plateaus, centralization pressures may ease, and incentive structures will evolve.
He dispels fears that China’s mining dominance is a conspiracy; instead, it’s a logical outcome of economic and infrastructural realities, which is a sign of healthy market forces rather than malicious control.