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posted by martyb on Monday June 16 2014, @11:55AM   Printer-friendly
from the mine!-mine!-mine! dept.

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?

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  • (Score: 2) by lubricus on Tuesday June 24 2014, @11:21AM

    by lubricus (232) on Tuesday June 24 2014, @11:21AM (#59333)

    Crazy, I was so cheesed responding that I had a typed stutter "a a", and forgot to close my href.

    Seriously: take some time, find a story you think people will find interesting, try to write it up in a succinct, yet informative style, submit it in a timely manner, and then watch as all the other sites publish it first, and then have an uninformed commenter trash your work.

    But, of course, you would know all this if you had contributed a story instead of being an entitled leech.

    ... sorry about the typos
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