That is correct, but the unit has always been in control of 80-100% of the mining power over the last months. The decentralized mining pool would have to invest roughly 4.5BTC per day to reach 50% (atm without the MEV miner) and still would not be able to compete against the entity (they would lose the bulk of the invested BTC). In theory, the problem could be solved if the honest miners had 90% of the mining power, but since this is uneconomical it remains a theory.
That’s why we wrote “doomed to fail”.
Right. “The reason why this doesn’t happen on Bitcoin (at least in theory) is because miners have a long term commitment with the Bitcoin network i.e. they purchased ASICs whose only way to monetize is mining Bitcoin for years. They are discouraged to damage the trust in the system that allows them to get a profit on their capital expenditure.
But Stacks is mainly operational expenditure, so miners don’t have such commitment. They don’t have an up-front cost that forces them to stay mining for long periods of time in order to get a profit.”
As Jude wrote - there are a few different ways we can encounter this problem which are outlined here and elsewhere. We want to highlight that its important to include it in the next hardfork, togehter or before we encounter MEV mining (otherwise they will be forced to stop due to the sybal attacks). Contrary to popular belief, the MEV miner would help decentralized mining pools to reach >50%? And both issues (Sybal attacks and MEV mining) are ciritical for sBTC anyway.