Quote from: charrles on Today at 12:30:29 PM

I heard that most of the miners are located in China. Thus we can say that most hash power is controlled by some regions. Can we still call Bitcoin decentralized if its backbone infrastructure is so centralized?

Even if all the miners are located in a single city of the world, Bitcoin remains decentralized. While geographical distribution is important and it improves the networks resiliency it does not dictate whether it is decentralized or not. Bitcoin has a very unique and amazing set of technological innovation combined with some really smart incentives. Miners have a strong incentive never to collude. In my example of a single city of miners, if miners joined together and did something bad then the users would fork away to a new algorithm. This would cause devastating loses to the miners at some low amount of damage to Bitcoin. Do you want to lose billions of dollars to make a small dent in Bitcoin? If you do, go ahead and try. Cool

Quote from: Emjay24 on Today at 07:58:25 PM

Achieving 51% hashrate not that can be used to attack the network and attempt changing the protocol isn't an easy thing at the level Bitcoin has grown to today, so there's little concern that the action of a mining pool can centralize Bitcoin.

The 51% attack is dumb because it is a suicide attack. You only get to do it once and then we fork away leaving your investments in mining equipment worthless.