BTC has a much more serious centralization problem than ETH, despite what the maxis say

I am sure you all have heard the argument from the Bitcoin Maxis that ETH is totally centralized due to Proof of Stake, and how Bitcoin is unique and special because anyone can do it.

Of course that’s poppycock, because you need to buy a hugely expensive specialized mining rig to get into Bitcoin mining, and the rig will be obsolete in a year or two. And there is a near monopoly on the manufacture of the miners.

Now we learn that the manufacturer has spent years selling intentionally crippled hardware to the rest of the world, while keeping all the fully-functional hardware for themselves. Meanwhile they appear to be running a bunch of miners under different names to hide their ownership.

I’m not going to say Bitcoin has been irrevocably corrupted by the hardware manufacturers. But this revelation clearly shows that centralization is a much bigger problem for Bitcoin than it is for Ethereum.

https://www.reddit.com/r/Bitcoin/comments/1d4wd9b/bitmain_likely_made_their_firmware_slow_on/

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Note: I tried crossposting this before, but it wouldn't let me add the explanation as part of the post.