The recentralization of Bitcoin is taking place. This has nothing to do with the coin itself although I still maintain it is being hijacked by Wall Street. The problem is we are seeing the same thing at the mining level.
In this video I discuss a Forbes article that talks about this very topic. Most of the blocks are produced by only a few mining pools. This is becoming a major problem.
Here is the link to the article talked about in the video:
▶️ 3Speak
I actually thought that this development was the expected outcome, more than the actual coins being scooped up by Wall Street. The BTC difficulty is made to get harder over time. I didn't think that individual or small group of miners can continuously mine it. The amount of processing power needed to mine BTC will only continue to increase which requires a large amount of money.
The coin distribution really has no factor on the network. It does in terms of other utility but from a node perspective, the coins dont matter.
But those producing the hash rate, that is a different story.
You're absolutely right taskmaster Bitcoin is getting hijacked by Wall Street
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