Decentralization is not infinitely valuable

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Decentralization is not infinitely valuable in relation to other properties of Bitcoin such as low fees, just like being alive is not infinitely valuable in relation to having money. For instance, people will generally not accept a 100% probability of death in exchange for any amount of money. However anyone who understands probability and has the preferences of a normal person would play a game where they accept a one in a billion chance of instant death to win one billion dollars if they don't die.

Similarly we shouldn't accept a 100% probability of Bitcoin being controlled by a single entity for any guarantee of cheap transaction fees no matter how low they are, but there should be some minuscule risk to decentralization that we'd be willing to accept (like raising the block size to 1.01 MB) if it somehow allowed us to dramatically increase usability. (Imagine something like the Lightning Network but even better was developed, but it could only work with 1.01 MB blocks).