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That's a false statement. Two chinese pools control 52%: https://blockchain.info/pools?show_adv=no https://blockchain.info/pools?show_adv=no A pool is not a s
by imaginenore 11y ago
That's a false statement. Two chinese pools control 52%:
https://blockchain.info/pools?show_adv=no https://blockchain.info/pools?show_adv=no
A pool is not a single entity, it's composed of hundreds, thousands of miners.
To do some evil thing they will have to convince all of their miners to participate, and stay quiet at the same time. And all for what? So they can perform a >50% attack, crash the value, and ruin their investment?
I would worry more about things like BitFury's ASIC datacenter, which is a true singular entity.
- TD-Linux 11y agoUnfortunately miners don't get to make any real decisions about e.g. which transactions to include when running on a pool - so for arguments of decentralization the pool is one miner. Of course the miners can move to a different pool if bad things start happening, but it's only reactionary. There's some neat tech that gets around this that is compatible with Bitcoin, for example p2pool. It's not super popular yet but it solves some of these problems.
- ryanlol 11y agoFWIW both of the pools are essentially ran by the same people too.
- shrewduser 11y agothen bitcoin is already officially fucked.
- api 11y ago(1) Get another more centralized pool to control 26%. (Or a cabal of them.) (2) Take both pools offline. (3) Profit.