In my understanding its the mining pools that have the control so there are already 5 Pools that control over 50+% of the hashrate. So it doesnt matter that the pool itself is decentralized.
Mining pools are gathering places for the miners, just a few pools have their own hashrate and it's not a case of them owning nowhere near 50%. The danger would be companies that are building their own huge farms and ordering thousands and thousands of miners, there are 3 companies that have over one hundred thousand of s19pro on order and they all do with investors' money, a thing the little guy has no chance of mimicking.
The bright side in this is that those companies have zero intention of harming bitcoin, once you invest millions in these you're not going to kill your golden goose over nothing.
So maybe big companies (banks too?) may start mining, even if at a loss? Possible that too. Or maybe in 100 years all electricity will be for free.
Hihi, we will rely on large companies mining at a loss but God helps us if the blockchain will be more than the average Joe's HDD capacity as we will need people to pay 10$ a day to host a copy on VPS.
I would have preferred the things to go the way
futurebit envisions but seems like the 400 million users blogs claim we have are not that keep on helping decentralization, and we could do it with only 5% of that number.