Is there centralization in the decentralization system of bitcoin? I understood there are few BTC mining farms in the world. This mining companies are not distributed across the continents, let's say each continent should have one mining farm.
Is it therefore not wrong to say that there is an iota of centralization in the decentralized system.
Remember, what largely defines centralization of the banking system is it's transaction approval and/or confirmation system(The Ledger). So, it is somewhat correct to say that the blockchain is the ledger of the bitcoin. So, if the process is centralized, it is therefore a sign that in the nearest future, the government of different countries can build a mining farm where they can manipulate to centralize digital currency, if not bitcoin it can be another. By then they can achieve total centralization in Decentralization.
Am I missing a point here or there is something I didn't understand?
Why would mining farms be equally distributed across the continents?
Mining farms are located in places,where the electricity is cheap.It doesn't matter in which continent or country.If mining farms are banned from mining in a certain country,they will move elsewhere.
A government has the resources to build a giant mining farm,but no government will do that,because the governments can simply change legislation and regulations,in regards to crypto mining,instead of investing/wasting tons of money to build crypto mining facilities.