kaal:claim:3782198-024
Bitcoin proved that a decentralized peer to peer network can manage valuable assets without a central authority, but the centralizing force of competition concentrated power anyway, as economies of scale produced large mining farms in place of millions of individual members maintaining the ledger.
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But the centralizing forces of competition led to concentration of power in the Bitcoin network, as econo- mies of scale led to large computer farms devoted to mining for bitcoins, instead of millions of individual network members maintaining the ledger on their laptops.
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failuresupport: arguedfailure: recentralization-through-mining-economies-of-scalefamily: recentralization-drifttokenomicsdecentralizationeconomicsconsensus-and-security
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