# kaal:claim:3782193-027

**Claim.** 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.

**Type.** empirical  **Support.** argued

**Holds when.**

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

**Source quote.**

> 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, page 22

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

**Verify.** sha256 of source PDF `74df9cc9a19a098bdacd0424a4174795f6e184f7a31c8ee7541195186701ebd2` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Calcaterra%20and%20Kaal%20-%202021%20-%20Historical%20Sketches%20of%20Centralization%20vs.%20Decentralization.pdf

**Failure mode.** Mining power concentration  (family: recentralization-drift)

**Topics.** tokenomics, decentralization, blockchain

**Keywords.** bitcoin, mining-pools, centralization, blockchain, profit-motive

**Related claims.**

- extends: https://wulfkaal.github.io/claims/3227967-032
- restated_by: https://wulfkaal.github.io/claims/3782198-024

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.