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This is the reason there is a incentive in place, miners get the coinbase reward for every completed block and thus encourages them to not attempt to cheat the system as it is far more rewarding to simply mine.
Also, an attempt to cheat the system through.a 51% attack would be quickly discovered and the shady chain would be dropped, so someone who invested millions of USD into buying mining hardware to own over half of the hashrate would be quickly discovered should or when they attempt an attack on the network.
The consensus to drop a shady chain is an example of the decentralization of Bitcoin.
Also, an attempt to cheat the system through.a 51% attack would be quickly discovered and the shady chain would be dropped, so someone who invested millions of USD into buying mining hardware to own over half of the hashrate would be quickly discovered should or when they attempt an attack on the network.
The consensus to drop a shady chain is an example of the decentralization of Bitcoin.
I disagree with this because the 51% thing is already clear, there're no singular miners anymore, just mining pools and farms and Bitcoin network according to the addresses mining is already pretty much centralized compared to the different accounts by balance.
Proof of Stake would also be the same, and even it is harder to accumulate the 51% of the coins simply because the more the person buys, the more expensive it gets.
There are a lot of singular miners. I'll hopefully be a singular miner in a few months.
Wealth hoarding is common to extremes in anything of value.
