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It's not really that decentralized now. The largest miner pools can be seen here[1]. All of the larger ones are from China. I would be more worried about author
by bostonsre 6y ago
It's not really that decentralized now. The largest miner pools can be seen here[1]. All of the larger ones are from China. I would be more worried about authoritarian action over there than some by the book payment processor processing transactions in the US.
[1] https://www.statista.com/statistics/731416/market-share-of-mining-pools/ https://www.statista.com/statistics/731416/market-share-of-m...
- heavyset_go 6y agoWhy would a book payment processor use Bitcoin when the average Bitcoin transaction fee is about the same price as many new books? With Bitcoin, you're looking at spending about $50 if you buy a $25 book.
- bostonsre 6y agoI meant the phrase "by the book" payment processor, not a book payment processor. I'm a lot less worried about the risk of centralization posed by visa than I am about over half of all bitcoins being mined in an authoritarian country. > by the book: > strictly according to the rules.
- heavyset_go 6y agoAh, sorry, I misread your post.