To me,.it seems it is taken for granted miners also have a stake in the network and hence, they act in good faith...
I agree with you, and I believe that's why the Chinese government simply hasn't taken over bitcoin. The damage to their environment not withstanding, they only have so many rare earths to go around, and they don't want to waste them on something that has as much value as a tulip. :/
That is another reason the Dump could never be president again. He'll cut China off from US chips then cluelessly visit the Taiwan chip factories, sitting idle because they have no resources.
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China currently supplies 97 percent of global rare earth metal demand, and 100 percent of heavy rare earth metals such as terbium and dysprosium, used in wind turbines.
Seems like Bitcoin has been taken over, and the controllers won't let it get much higher than it is already.
However, if people thought that Btc was controlled, they would jump into altcoins if they didn't like it. Many have anyway.
When Trump deregulates things, we will see if Bitcoin is worth it... strong enough to last.
