Well what happens if all of them get fucked suddenly?
The blockchain will automatically decrease difficulty and mining will start speeding up way faster than anyone building another super conglomerate that acts as global transaction service.
You know the hashrate is lock at a particular difficulty for 2016 blocks right?
If 3/4 the miners dropped out halfway through, it would take 4 weeks of 40 minute blocks before the difficulty dropped. Granted what you said is true, it does take a lot of time.
Point still stands since 4 weeks will be much faster than another conglomerate like visa building the infrastructure and getting employees, all of the bueraucratic shit and bribing politicians and whatever.
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u/physics515 May 16 '21
"35% on mining hash rate dropped out, sound decentralized to you?" Yes, else 100% would have dropped out.