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
Congratulations @taskmaster4450! You have completed the following achievement on the Hive blockchain And have been rewarded with New badge(s)
 | You have been a buzzy bee and published a post every day of the week. |
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP
Check out our last posts:
 | Our Hive Power Delegations to the April PUM Winners |
 | Feedback from the May Hive Power Up Day |
 | Hive Power Up Month Challenge - April 2024 Winners List |