Isnt a problem if China has 68% of the hashrate? - page 2.

Kemarit

legendary

Activity: 3080

Merit: 1353

Quote from: pragmatic gut on May 18, 2020, 07:02:32 PM

Isnt a problem if China has 68% of the hashrate?

Couldnt China do a 51% percent attack?

I will point you to an old thread, Is CHINA CONTROLLING Bitcoin?.

Are you talking about China, their government performing a 51% attack? Or some mining pools?
You just have to understand the money and resources involved pulling it off and what incentives the bad actors doing a 51% attack, it's not worth a try.

bitmover

legendary

Activity: 2352

Merit: 6089

bitcoindata.science

Quote from: pragmatic gut on May 18, 2020, 07:02:32 PM

Isnt a problem if China has 68% of the hashrate?

China doesn't have 68% of hashrate, but 68% of hashrate comes from chinese pools. That's different.
and yes, it is certainly a problem.. this could be more decentralized, but that's not that bad.

Quote

Couldnt China do a 51% percent attack?

No. Chinese government does not control the pools. Pools are not that coordinated and if there war a slightly chance that this could happen, miners would just move to another pools.

Take a look at this graph from blockchain.com

source:https://www.blockchain.com/charts/pools

There are many different individuals who controls those pools. They are not the same people, and they do not own the hash power: miners can move to other pools at any time.

pragmatic gut

newbie

Activity: 66

Merit: 0

Isnt a problem if China has 68% of the hashrate?

Couldnt China do a 51% percent attack?

Topic: Isnt a problem if China has 68% of the hashrate? - page 2. (Read 297 times)