The problem with fiat supply inflation is that it's arbitrarily controlled from a centralized group. this is not true for Monero, which has a constant and immutable monetary policy.
its pretty strange to assert that mining is LESS centralized when you have to have a huge upfront initial investment and specialized hardware to do it,
and MORE centralized when anyone can do it with off the shelf hardware.
The US government can pressure large centralized mining companies. they can't threaten monero miners.
but I concede the fact that there are large data centers with lots of CPU power available. these *could be deployed to attack Monero if anybody cared to.
everything is trade-offs.
it does still seem obvious that in practice, Bitcoin mining is more centralized.
there is no problem running nodes. if Monero was scaling to do bitcoins transaction throughput there *may be a problem. but right now we good ๐
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Well you got half the problem right. It might have been ok with an immutable (argurable) monetary policy if bitcoin didnt exist but you're in a competitive landscape. Your value is being debased by the emission so you'll end up poorer than just saving in bitcoin.
Again if CPU power weren't already centralized your argument isn't wrong. The alternative uses changes the economic incentives of mining. So other uses has already centralized it.
Governmental attacks are easier for attacking general computing systems
because they already control so much of it.
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