“Bitcoin is less decentralized in nature than it is distributed, with its consensus mechanism standing across rungs of infrastructure that uphold our internet, and the panopticon leviathan living inside its fiber optic cables. No longer will the Federal Reserve’s 12 regional Fed banks decide monetary policy or limit reserve settlement to those within their regulatory regime, but the energy generators, the chip manufacturers, and the internet service providers—at both the software and hardware level—become the new industries of consensus.”

~ Mark Goodwin, “Breaking (Down) the Chain: An Investigation Post-mortem”