Different definition of centralization. Coinbase may hold and control a lot of bitcoins, but they don't control the network and can't make fiat declarations if they want to ban/block someone from using bitcoin.
Unless they become a large enough payment provider.
If a sufficient number of businesses integrate coinbase into their sales, it's not just a matter of the paying customer going elsewhere to process the payment: the entity selling the goods also has to move away from coinbase.
Sure, you can still send coins over the network - but given a large enough foothold that doesn't mean you'll be able to pay for the goods you want, at the merchant you want.
It's not scary, and by looking at your comment history it's pretty obvious you have an agenda against Bitcoin, and you are trying to promote your PoS (a flawed concept) altcoins, probably just because you can't stand that someone else invested in Bitcoin before you. Apparently 1,000% gains per year is not enough for some people.
Interesting let stick with the 5 pool controlling the network part, and cut the crap with my comment history it is irrelevant. Start by addressing why is not scary. Just saying it is not scary it is a pretty stupid explanation...
