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Bitcoin Math The Almighty Buck

Bitcoin Security Endangered By Powerful Mining Pool 281

An anonymous reader writes Ars Technica reports that for the first time in Bitcoin's five-year history, a single entity has repeatedly provided more than half of the total computational power required to mine new digital coins, in some cases for sustained periods of time. It's an event that, if it persists, signals the end of crypto currency's decentralized structure."
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Bitcoin Security Endangered By Powerful Mining Pool

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  • by Anonymous Coward on Monday June 16, 2014 @12:46AM (#47243695)

    But all the early-adopters / ponzi-schemers kept insisting that it was impossible.

    Told. You. So.

  • by postbigbang ( 761081 ) on Monday June 16, 2014 @07:06AM (#47244569)

    There are still botnets, yes running on ancient XP machines with CPUs best measured in furlongs per fortnight, with zillions of captured kernels that might, for that brief moment, create hashing power of the kind that the world has never known. Dimming the planetary grid, perhaps even the very sun itself, t even phashes would be spewed higher than a volcano, and for that brief moment, a new zillionaire would be annointed.

    And at the end, we'd just have more hash. Pass me the ketchup bottle, please.

Everybody likes a kidder, but nobody lends him money. -- Arthur Miller