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> Doesn’t 1 pool account for more than 50% of the bitcoin netwoek? https://hashrateindex.com/hashrate/pools https://hashrateindex.com/hashrate/pools As of tod

• throw0101a 2y ago
  > As of today the top 3 pools are 26%, 11%, 10% Which is 47%. Add in the fourth on that list and you're >50%. And over time the concentration of mining has increased: * https://www.investopedia.com/investing/why-centralized-crypto-mining-growing-problem/ https://www.investopedia.com/investing/why-centralized-crypt... Seems like more of an oligopoly to me as opposed to the 'for the people' kind of thing some folks talk about.
  • fallingsquirrel 2y ago
    Those pools have thousands to millions of individual people just like you, who chose to join a pool to reduce the variance of block rewards. That doesn't mean they have any less share of the network. In general, if you have a community with (say) 1,000,000 people, why would you expect any individual to have more than 0.000001% of the share? That doesn't mean it isn't for the people. It just means the world is a big place. And unlike an actual oligopoly, there's nothing stopping you from striking out on your own and claiming your fair and square 0.000001% if you're happy with the odds.