Bitcoin is not really decentralized , see proof !

[bambam]

The problem with proof of work.

As it turns out, there are quite a few problems with proof-of-work.

    First and foremost, proof of work is an extremely inefficient process because of the sheer amount of power and energy that it eats up.
    People and organizations that can afford faster and more powerful ASICs usually have a better chance of mining than the others.
    As a result of this, bitcoin isn’t as decentralized as it wants to be. Let’s check the hashrate distribution graph:



As you can see, ~65% of the hashrate is divided among five mining pools alone!

    Theoretically speaking, these big mining pools can simply team up with each other and launch a 51% on the bitcoin network.

[test1234]

yep, that would explain the pressure to fork ...

[adotrulez]

Very enlightening read. Well done

[akbar21]

i like BTC

[akmittal]

I am very much surprised with the report, you invest a lot of time on it. i understand Bitcoin is not really decentralized.

[Cointastic]

This was one of the reasons for the bitcoin gold fork.  CPUs and GPUs can't compete with ASICs for mining bitcoin as shown in your chart, but if you change the pow you can make GPUs competitive again.   

[masudginanjar]

that's according to mining, ok we can conclude there are 5 miners in this world who have lots of Bitcoin.
But the miners also want to exchange Bitcoin to buy mining equipment and take care of these tools using FIAT.

Miners - Bitcoin - sold - FIAT, that's the miner's cycle because miners also want to enjoy the results using FIAT