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> Is it really a cryptocurrency when it's completely centralized? No.

What is decentralized about a handful of Chinese miners controlling all supply?

That there is a well established (if expensive) method to re-take the decentralized control should things go south.

Same for open source software, the best pieces are generally run by a no-nonsense autocrats.

Could you please expand? If the big Chinese miners go rogue (actually go rogue, take over a currency and actively tries to stop the larger public from taking it back), what recourse does the larger public have? Wouldn't they need more mining power, or an impractical fenced-off network that's still decentralized in some manner?

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