Decentralization of bitcoin longterm likely looks like massive centralized mining operations subsidised by countries to not loose control to other countries, overall making it decentralized and geo-diversified.
Mining with ASICs makes centralized miners have an edge. Centralized miners are easily censored. But the global nature of mining makes it impossible to censor all miners. So the stable equilibrium is all countries censoring their local miners while following ossified consensus
Jun 5, 2019 • 4 tweets • 1 min read
Crypto is all about collateral. Only active use case big enough and ready right now