One of the features of the blockchain technology algorithms that is very commercialized with, is that they are decentralized. But are they truly decentralized?
What drives miners in, is the economics - return of investments. The value of the any coins - digital or fiat is totally imaginary.
It is a product of the human being - of his imagination and psychology - greed, fear, illusionary, man-made stuff like freedom, democracy, value and so on. Another thing that is driving the prices up and down are computer programs - software that drives the price in any direction that the owner decides so he (or they) could collect bigger amount of some currency (digital or fiat).
Also, what makes the miners mine is the economics benefit. The generated digital coins must be greater in fiat currency than the energy bill that the mining equipment takes in. If it generates more than it consumes - it is an asset, else it is liability. Probably the number of people that have ever mind crypto coins just for the sport, for the illusions of the mind created by itself is very very little.
The math actually helps centralization. If the price goes up - this attracts more miners and that changes the profitability of the mining algorithm for every participant. The price of the token may increase, but if the amount mined from each participant goes down - it may kill the asset as such. If you are small player, you are doomed. So you will probably stop mining or keep doing it and holding it because of the blind faith that doesn't feed you. The ones that will most likely stick to the end are the big players.
The current world economy creates bigger and bigger separation of the ones that have a lot and the rest of the masses. This characteristics sticks also to the crypto world. If you have a lot, if you are national government (super power) or mafia you will need to target just 10 or 20 super owners that are probably public and not so obscure figures.
So much for the honesty, so much of fighting human psychology with technology. The machines do what the person orders it to. We need to grow as a species and I don't see that coming through technology.
