The Terror of Mining Pool Centralization

The Terror of Mining Pool Centralization

One of the many issues that has a lot of Bitcoiners periodically soiling their pants in fear is that of mining pool centralization. Earlier this year was a crisis with GHash.io and in the year before was one with BTCGuild (which has announced it is going offline soon. How the mighty have fallen). Naturally, nothing came of these supposed crises other than all manner of exhibitionist hang-wringing, such as when Peter Todd told everyone he had sold half his bitcoins due to the threat. But what about the 51% attack? What about decentralization? Bullshit. The 51% attack is a risk that arises....


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