In my opinion, centralization would be one of my greatest fears as a bitcoin holder, aside from dips and banning by countries, among others. This is the fear that power over bitcoin, the supposedly decentralized, leaderless currency, could in fact become centralized or controlled by a few, and that people would use it thinking it was decentralized, not knowing it wasn’t.

There were concerns before about a handful of people calling themselves Bitcoin Unlimited who want to increase the cap on the size of transactions that the network can process at any given moment (as opposed to making the network more efficient to allow more transactions through under the same cap, which is 1MB) could soon begin to control the majority of the hashing power on the network.