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Tone Vays, bitcoin analyst, derivatives trader and event producer, highlighted a shift in his perspective regarding mining power concentration.
Vays stated that while he was previously concerned about entities controlling 5% of the Bitcoin hashrate, he now believes an allocation between 10% and 20% is optimal. According to Vays, this level of hashrate distribution would give miners confidence to introduce a difficulty adjustment with replay protection, referencing actions by Jihan Wu and Roger Ver.
Vays previously noted that Bitcoin miners are unlikely to support proof-of-work changes that lack broad network consensus, recalling past events. In another analysis, he discussed a scenario involving Elon Musk potentially launching a competing Bitcoin client, turning Teslas into network nodes. These comments reflect Vays's ongoing focus on network governance and miner decision-making.