kaal:claim:3782193-027

Bitcoin does not refute the thesis that money centralizes decentralized projects: hashing power has slowly become concentrated in mining pools until the majority of that power resides in the single country of China.

Source quote, verbatim

Slowly, Bitcoin hashing power has become more concentrated in mining pools, until today the ma- jority of power resides in the single country of China.

From

Craig Calcaterra, Wulf A. Kaal, Historical Sketches of Centralization vs. Decentralization (2021), The Apaches vs. Bitcoin, p. 22
https://ssrn.com/abstract=3782193 · source PDF

Cite as

Craig Calcaterra, Wulf A. Kaal, Historical Sketches of Centralization vs. Decentralization (2021). SSRN: https://ssrn.com/abstract=3782193

Holds when

Bitcoin after roughly ten years of operation, as of the authors' writing

Classification

empiricalsupport: arguedfailure: Mining power concentrationfamily: recentralization-drifttokenomicsdecentralizationblockchain

Related claims

extends kaal:claim:3227967-032 Existing blockchains and DAOs still lack genuine decentralization, and there are currently no true DAOs: Bitco...
restated_by kaal:claim:3782198-024 Bitcoin proved that a decentralized peer to peer network can manage valuable assets without a central authorit...

Verify

The quote above is an exact substring of the source PDF, whose sha256 is 74df9cc9a19a098bdacd0424a4174795f6e184f7a31c8ee7541195186701ebd2. Extraction method: pdf-text-layer.
Attestation record: colloquium/attestations/7533661f4263cf99...json
Verify the binding yourself: curl -s https://wulfkaal.github.io/claims/3782193-027.md | sha256sum

Positions extending this scholarly claim

Extension: THE APPLICABLE LAW TO BLOCKCHAIN