This is an excellent thread about how difficult it is for any miner to gain control of the network.
This would seem to prove out Satoshi's "Long Tail" assumption.Yes, there are massive, massive public mining operations, but individually, the largest represents less than 5% of the network (MARA), and collectively, 11 of them represent less than 30% of the entire network.Add to that their varying geographies, jurisdictions, and regulatory regimes, and the possibility of massive collusion to the detriment of the network seems fleeting, if not impossible....
Read the whole thread for some great thoughts on how Bitcoin works.