it has been reported that Bitmain controls over 51%.
got a reliable source for that? cuz the SV/ABC war sort of showed how impotent bitmain is.
not only do they not control half the network, but much of what they do control is probably hosted on behalf of clients. similar to the case of mining pools above, bitmain has much less control than people think. prove otherwise.
https://bitcoinmagazine.com/articles/bitmain-nears-51-network-hash-rate-why-matters-and-why-it-doesnt/Piecing all this together, it’s easy to see Bitmain’s influence on the network hash rate.
Through the different mining pools it exerts influence over in one way or another, it may have already stepped beyond the 50 percent mark some time ago.
Bitmain does, in fact, control well over half of all hash power on the network directly.
Wear Blinders if you prefer, but the reality is apparent to all that look.
Bitmain has over 51% control, they just smart enough to hide it.
right, so it's just as i thought.
fyi, that article is from over a year ago. the cited pools control ~ 1/3 of the network hash rate:
https://www.blockchain.com/en/pools?timespan=4daysso, much less than 51% for starters.
next, bitmain does not control nearly that much hashrate themselves. they just operate the pools. miners will definitely point their hash rate away from antpool, btc.com and viabtc if they start 51% attacking the network:
the number of mining pools doesn't matter nearly as much as the actual distribution of hashpower. miners can point their hashpower away from a malicious pool at a moment's notice. pool operators who endanger the network will quickly fall from favor. remember ghash.io? hardly anyone else does either.....
finally, bitmain runs a business hosting miners for clients. so that's
even less hash power they can use to attack the network (because clients will immediately pull the plug)
bitmain had an incredible fall from grace over the last year. their business is imploding with hundreds of millions $$ in losses. even if they had the hash rate (which they don't) they're in no financial position to risk attacking bitcoin lol.