[Cryptography] ghash.io hits 50% of the Bitcoin compute power

[Perry E. Metzger]

On Fri, 13 Jun 2014 12:46:46 -0400 Phillip Hallam-Baker
<phill at hallambaker.com> wrote:
> On Fri, Jun 13, 2014 at 9:51 AM, Perry E. Metzger
> <perry at piermont.com> wrote:
> 
> > The security of Bitcoin depends on no one group burning more than
> > half the compute cycles. As of today, of course, the graph looks
> > like this.
> >
> > https://imgur.com/PPVr0Wv
> 
> This is only a risk if you want to spend or transfer your coins. If
> you are a hoarder it doesn't matter.

That is untrue. The binding between your private key and a set of
coins depends on the integrity of the blockchain itself.

Perry
-- 
Perry E. Metzger		perry at piermont.com