[RoosterRedux]

Isn't mining becoming increasingly centralized due to economies of scale...with large mining pools and companies dominating the hashing power. Doesn't this centralization reduce the decentralized concept you speak of and increase the risk of a 51% attack.

Let me repeat, I am not saying bitcoin doesn't work. I'm just trying to find weaknesses in the system.

[FLT-bird]

Isn't mining becoming increasingly centralized due to economies of scale...with large mining pools and companies dominating the hashing power. Doesn't this centralization reduce the decentralized concept you speak of and increase the risk of a 51% attack. Let me repeat, I am not saying bitcoin doesn't work. I'm just trying to find weaknesses in the system.

Miners do tend to be more larger companies now rather than somebody doing it out of his garage. That much is true but miners hold a relatively small percentage of the total. Even all of them put together would be nowhere close to 51%.