Fears and warnings about the consequences of a single entity obtaining majority network power have been known for some time, but have generally been dismissed as not conveying enough control to be worthwhile. For the first time, and for several extended periods, the GHash mining pool delivered 51% of the bitcoin network hashing power, despite promises that they would never cross the 50% threshold. Although GHash did not take advantage of its monopoly power during these times, it does seem that we have crossed a threshold. How do you trust the blockchain to an anonymous monopoly?
FYI: I submitted this story, and I also don't like slashdot copy-pasters.
I did *NOT* copy this from slashdot, I first encountered the story on ArsTechnica. The problem is the pace of publishing at soylent. Because the editorial staff is not that big, and wants to put out stories at a certain rate, the stories sit in the cue for a a few days.
It can be pretty frustrating. For example, I submitted the story about facebook buying whatsapp about 15 minutes after the press release came out. I actually checked the submission queue at slashdot before I did it, and it had not been submitted there, and was not submitted until about 8 hours after mine, and it still appeared on the front page at slashdot about a day before mine here. [soylentnews.org]
So, if this bothers you, the next time there is a story about the site and it's directions, bring up the slow publication problem.
Try it yourself, find a story worth publishing, and see how long it takes to appear.