Don't cryptocurrencies just centralize the power for whatever groups own the most miners? Sure one group won't have a dictatorship, but it's essentially an olig

Don't cryptocurrencies just centralize the power for whatever groups own the most miners? Sure one group won't have a dictatorship, but it's essentially an oligopoly. It's like if you claim the U.S. congress is decentralized because there are representatives from each of the 50 states, which is a valid argument despite congress ultimately becoming a centralized power unit, but in this case each of the representatives just buys more mining equipment compared to their competitors.