Irony: Envisioned To Be Fully Decentralized, Bitcoin Today Is Highly Centralized

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If a cartel of Bitcoin miners wanted to, they could render the whole blockchain useless Q2 2021 hedge fund letters, conferences and more More than a decade ago when Satoshi Nakamoto wrote the original Bitcoin whitepaper, he envisioned a “peer-to-peer” electronic cash system that removes the possibility of a single point of failure, censorship, or a centralized authority taking over the network. It was supposed to be fully decentralized. Fast forward to 2021 and look beyond the hype – you’ll be surprised to see that the Bitcoin network has become uncomfortably centralized. The Sacrificial GoatA…

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