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RE: "Blocksize would need to become 555 MB in size for bitcoin to scale to VISA levels. 214 GB every day, and 78 TB every year!
It needs to be decentralized also. 25 block creators (witness system) is not a decentralized network.
Is it not?
On the Bitcoin network, 4 block producers produce over 50% of all blocks among themselves. 8 together create 75% of blocks, and 12 produce 90%.
On Ethereum it's even worse, where only 2 pools produce over 50% of blocks.
The reply is often that there are more miners than there are pools, but individual miners do not produce blocks. They only allocate their hashpower to those who do, which is effectively a form of voting. Thus non-block-producing miners are the closest equivalent to voting stakeholders, not witnesses.
Japan and Russia are also going into the mining buisness. We will be seeing more decentralization quite soon. But you're right, China has mining monopoly now.
delegation of stake to 25-100 block creators by unlimited number of users
vs
delegation of hash power to 3-4 mining pools by unlimited number of users
it's very similar in how validators are chosen through decentralization
but you can argue less time tested with less understood attack surface
users also have the ability to fire bad validators on dpos costing them income or change total numbers via committee/DAO like on pow they have to point hash power to different pool