/biz/ - Business & Finance

>>15552664
Except it's being increasingly centralized into mining pools located in china. And it costs much more to defend against a 51% percent attack than it does to attack. Also you can do it well below 51% percent.

>>15479766
>>15482086
>As of June 2018,over 80% of Bitcoin mining is performed by six mining pools, and five of those six pools are managed by individuals or organizations located in China

https://arxiv.org/pdf/1810.02466.pdf

A new study shows China controls 74% of bitcoin. Does that sound decentralized to you?

>The paper establishes its thesis by proving the Bitcoin mining ecosystem has become “heavily centralized.” Cryptocurrency miners have banded to such an extent that “over 80 percent of Bitcoin mining is performed by six mining pools,” with five of those managed directly by individuals or companies based in China.

https://thenextweb.com/hardfork/2018/10/08/china-means-intent-destroy-bitcoin/