this post was submitted on 09 Mar 2024
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thats not the point, there have been studies that show bitcoin is fairly vulnerable to 50% control due to early adopters and other wHaLeS controlling the currency. and the studies can show this because bitcoin isnt private.
Alright, do you mean concentration in hash rate (mining)?
don't recall, it covered both bitcoin and etherium and investigated who owned what. ill see if i can't find it. edit: this seems to be the academic version of it, but theres a prettier journalism version with more stories and pictures: https://arxiv.org/abs/2206.02871
in this case i seem to have misremembered owners vs miners, but I'll keep poking around. this one is also older than i remember.
That is super interesting! But yeah, that was really early days. Hash rate centralisation could of course still be a problem today but it was most likely 100 times worse in 2011.