Miner centralization is not without risks, but is fundamentally very different from centralizing economic activity, with different security outcomes. A dominat

Miner centralization is not without risks, but is fundamentally very different from centralizing economic activity, with different security outcomes. A dominating miner runs the risk of a 51% attack, which can cause denial of service or censorship, but game theory dictates that the missed opportunity cost is huge. A dominating economic actor makes the whole blockchain an obsolete backend to something like Paypal.