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204 sats \ 1 reply \ @DeezSats 15 Sep 2022 \ parent \ on: Mining Concentration In America Poses A Major Threat To Bitcoin bitcoin
All large hosting companies in America comply with US regulations that include taxes and KYC. And the biggest American miners don't even host, they just own and continue to grow their own hashpower outright with access to essentially unlimited cheap fiat.
This is a way bigger attack formation than the concentration in China was.
I was just thinking about this and let's say there is some nightmarish scenario where one coordinated entity owns 75% of hashrate. That means they can on average command 3 out of every 4 blocks. Assuming the last 25% doesn't censor, that last 25% of hash power can still get blocks out, it just takes longer. Is that correct
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