I’d offer to buy the companies or groups controlling most of the mining power. It’s usually an oligopoly like in the for-profit, non-crypto markets. Even possible to pay off individual executives to cut deals to lower the price. The resulting buy would probably be way, way, way less than $100 billion for Bitcoin. Hell, it might be less than a billion. That’s owning it, too, rather than a bribe to sabotage it in some way that looks like an accident. That could be mere millions.
Mining power is actually quite decentralized, because for various reasons cheap electricity is decentralized. Mining pool is oligopoly, but mining pools don’t own mining power. Miners can and will leave pools if something happens.
Mining farms are perhaps the one area where manufacturers and economies of scale are not dominant. Good electricity deals tend to come in smaller packages, tend to be distributed around the world, and tend to be difficult to find and each involve unique circumstances.
I’d offer to buy the companies or groups controlling most of the mining power. It’s usually an oligopoly like in the for-profit, non-crypto markets. Even possible to pay off individual executives to cut deals to lower the price. The resulting buy would probably be way, way, way less than $100 billion for Bitcoin. Hell, it might be less than a billion. That’s owning it, too, rather than a bribe to sabotage it in some way that looks like an accident. That could be mere millions.
Mining power is actually quite decentralized, because for various reasons cheap electricity is decentralized. Mining pool is oligopoly, but mining pools don’t own mining power. Miners can and will leave pools if something happens.
No, mining power is very centralized.
https://lobste.rs/s/yawv5u/state_cryptocurrency_mining
Your link agrees with me. To quote:
The link agrees with one point, good electricity deals. But the economics of scale applies to the building of devices that use less electricity.
I appreciate clarification.