So whoever controls most of the hash power controls the PoW consensus. According to the two searches in my first post, 50-60 miners control it.
He will control the ordering of the transactions. And sure, if he controls it ad infinitum, then he can choose to never mine any transaction.
From my point of view, this is a serious lack. Knowledge of the distribution of the hash rate is crucial. This invalidates one of the principles of blockchain: don't trust, verify. How is it possible to know whether mining is controlled by finance or government?
You can verify the source code, the signatures of the transactions, the Proof-of-Work, the amount of chain work that is accurately estimated to have happened. But no; you cannot be certain about the distribution of the hash rate. You can only rely on statistics.
The 51% attacker doesn't change the rules, he just present a chain with VALID transactions, VALID blocks that follows the rules but it has more work behind it!
I like how handily you insert that "just".
