Hear me out before you call me paranoid or anything.
I have been looking for multiple sources of information on this, and most seem to agree that at least 40% and up to 65% of the mining hash-power is coming from China.
I'm not going to argue here if the Chinese government is to be trusted or not - that's something you decide for yourself. What I want to know, is to what extent are they going to allow Bitcoin to remain independent when it becomes harder to turn a profit and how "independent" these mining groups are from the influence of the government.
Maybe it won't happen today, 6.25 BTC per block seems to still make the cut for many miners - but let's say pigs don't fly and BTC is still around 10k for the next halving and the next one as well. What prevents their government from attempting a hostile take over of the farms? (assuming they aren't all loyal to the party already)
After looking at what Justin Sun has done with the Steem Blockchain (I know its dPoS vs PoW) I've been looking for more info in true defense mechanisms to guarantee a decentralized platform but really, most of them are either abandoned or still in the theoretical or alpha phase... Will Bitcoin rise to the occasion when needed or will it slowly become centralized? Maybe they don't do a full hostile take over but enforce a mining block tax like with BCH? Anything goes?