10-20 years is far away. China might get stricter environmental/Bitcoin mining regulations.


... and Bitcoin mining will become centralized somewhere else. Maybe next to some incredibly cheap wildass Libertarian nuclear reactor, spewing neutrons all over Somalia, with only worries being radiation effects on silicon

Just like everything else, Bitcoin mining started out with privateers/wildcatters/nutjobs/visionaries, & ended up as an industry: doing stuff to make money.
The problem, for me, is money != BTC for miners; they can *sell* BTC, which means they're not committed to BTC as much as the hodlers are.
If, for instance, another SHA256 coin came around that was more profitable to mine, or, if some government paid them to mess with Bitcoin (mind you, paid them in !BTC, so reward doesn't become worthless when BTC tanks), they'll *definitely* do that. Or exert leverage on hodlers (extort) to not do it.