Sure it does. If you control >50% of the nodes, you can alter the blockchain freely. Add transactions, remove transactions, put all existing coins into your wallet. Anything.
Satoshi's take was that, if you control so much of the blockchain, you have no incentive to cheat, because it would cause the coin to lose all its values. And that would mean the cheater would lose the most.
But a government may have other incentives to cheat than just "taking all the coins".
Yeah follow the miner forums. Bitcoin has been CCP controlled for years now, might as well hoard Yuan. Monero and some of the others resist it better.
Having the largest percentage of a crypto doesn't give you control over it.
Sure it does. If you control >50% of the nodes, you can alter the blockchain freely. Add transactions, remove transactions, put all existing coins into your wallet. Anything.
Satoshi's take was that, if you control so much of the blockchain, you have no incentive to cheat, because it would cause the coin to lose all its values. And that would mean the cheater would lose the most.
But a government may have other incentives to cheat than just "taking all the coins".