He brought up some valid points, like a single power outage in a remote part of China causing a mining corporation to go offline.
It didn't cause 35%, but a 16.5% loss of the exahashes per second. As for the single power outage, it isn't a sign of centralization the fact that a country faces coal disruptions. If you search it, you'll find out that other cryptos had their difficulty decrease as well, but their difference was smaller compared to Bitcoin. It's just because these pools work more on extending Bitcoin's chain.
This is far from the decentralized original idea of Bitcoin.
That was the actual concept from the beginning! I'm quoting:
For now, everyone just runs a full network node.
I anticipate there will never be more than 100K nodes, probably less. It will reach an equilibrium where it's not worth it for more nodes to join in. The rest will be lightweight clients, which could be millions.
At equilibrium size, many nodes will be server farms with one or two network nodes that feed the rest of the farm over a LAN.
If the network becomes very large, like over 100,000 nodes, this is what we'll use to allow common users to do transactions without being full blown nodes. At that stage, most users should start running client-only software and only the specialist server farms keep running full network nodes, kind of like how the usenet network has consolidated.
He has a valid concern.
Of course and he has a valid concern... of keep getting richer! How can this not seem suspicious to you? Tesla buys $1.5B bitcoins, starts accepting it as a payment method for car purchase, then the Bitcoin price rises and oops! They aren't accepting it anymore because of its environmental effects while the majority of the hashes comes from renewable energy sources...
It so obvious that they want to buy the dip.
As for Dogecoin: Around 65% of the coins are owned by whales and big investors. Doesn't it
stink to you that he promotes it and wants to purposely send it to the moon?
