Largest Bitcoin Mining Pool Pledges Not To Execute '51% Attack' 351
An anonymous reader writes "Bitcoin transactions are confirmed by performing complex calculations, also known as 'mining.' If a single mining pool gains 51% of the overall computational power in the network, various forms of transaction manipulation become possible. Only a few years into Bitcoin's existence, this existential threat appears to be at hand, with Bitcoin mining pool ghash.io approaching 51% of mining power. ghash.io has now assured the Bitcoin community in a press release (PDF): 'GHash.IO does not have any intentions to execute a 51% attack, as it will do serious damage to the Bitcoin community, of which we are a part.' But can a network relying on such assurances survive in the long run?"
I'm probably going to regret this post (Score:5, Funny)
Libertarian currency in "falls into monopoly" shock.
Re:If you're concerned... (Score:5, Funny)
Re:If you're concerned... (Score:1, Funny)