We are well past the game theoretical point where we can have individuals outnumber mining companies, especially ones that are able to get cheap energy directly at the source.
What we’re more worried about now is physical decentralization. All the miners in one country would be extremely bad, for example. Luckily, the friction for building your own mine has a low barrier to entry, so I’m not concerned with that. If things get too centralized in North America, anybody can start building hashrate in another country with some up-front capital.
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