Is there centralization in the decentralization system of bitcoin? I understood there are few BTC mining farms in the world. This mining companies are not distributed across the continents, let's say each continent should have one mining farm.
Is it therefore not wrong to say that there is an iota of centralization in the decentralized system.
Remember, what largely defines centralization of the banking system is it's transaction approval and/or confirmation system(The Ledger). So, it is somewhat correct to say that the blockchain is the ledger of the bitcoin. So, if the process is centralized, it is therefore a sign that in the nearest future, the government of different countries can build a mining farm where they can manipulate to centralize digital currency, if not bitcoin it can be another. By then they can achieve total centralization in Decentralization.
Am I missing a point here or there is something I didn't understand?
