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I think this is too small of a time window. On the thousand-year horizon, centralization has been consistently increasing.

We may fluctuate a bit to more decentralized in the next decade. If bitcoin "wins", then on one hand it's a story of decentralization - no one controls it! - but on the other it compresses a bunch of currencies and wealth assets into one.

And hopefully the miners don't eventually become centralized...



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