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It can't be decentralized to begin with, because whoever has more money can run more mining and whoever mines more has more power in the network. It's still more about rich hording power. On the flipside it may just be a little bit more distributed and accessible than the current prevalent system.

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But mining doesn't grant you any power (unless you manage to accumulate 51% of it, which is in this day and age pretty much impossible for a single individual or organization). Mining is just a service that you provide (to secure the network), and you get rewarded for it.

Compare that to how monetary inflation works in the fiat world: they just press a button, et voi-la, they got their funding.

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