[gvhst]

That is true, but its easy to centralize private ASIC designs or in a more extreme case the underlying chip fabs. If TSMC wanted to control the Bitcoin network they'd have a fair shot given they have by far and away the best fabrication technology for high performance chips

[latchkey]

You hit the nail on the head.

TSMC, Samsung and GlobalFoundries are the centralization points of all of mining because they produce the chips.

Good thing they like money and they are global corporations.