Bitcoin no longer decentralized

[evilsofa]

GHash has achieved the ability to provide more than 50 percent of all Bitcoin mining computational power any time it wants to. Yes, that matters:

http://arstechnica.com/security/201...red-by-anonymous-miner-with-51-network-power/

 

[ythe1300]

Saw that coming. Still sucks though.

 

[MrGuvernment]

slight oversight in the design..

now will anyone on GHash be smart enough to move to another site, not likely due to the hashing power they have.

Wonder if GHash is the site all the self installed malware reports to..

 

[oblox]

lol, anyone that thought BTC was still decentralized with large ASIC farms and pools was kidding themselves. However, Bitfury pulled a 1 PH from Ghash and stated they would pull more if this happened again. Currently they are only 34%:

https://blockchain.info/pools

 

[Parja]

lol, anyone that thought BTC was still decentralized with large ASIC farms and pools was kidding themselves. However, Bitfury pulled a 1 PH from Ghash and stated they would pull more if this happened again. Currently they are only 34%:

https://blockchain.info/pools

Nobody had previously achieved >50% of the total hash power, though, so it was effectively decentralized. Good to see users made adjustments to keep the system "honest".

 

[oblox]

Nobody had previously achieved >50% of the total hash power, though, so it was effectively decentralized. Good to see users made adjustments to keep the system "honest".

Correct, but it was a long-time coming as more and more powerful asics were coming online and joining 0% fee Ghash.

 

[Nexillus]

Yup, most people saw this coming a long wase out.