OMG .Fools and their money! When this was announced difficultly was under 10m and network hashrate under 80t/h. Now you've got them it's 12m (+20%) and network hashrate is 100t/h+ . In under 3 days difficulty will hit 14.4m. So thats a 44% increase in diffuclty in 5 weeks, around the 30% + a month I predicted.
All of this is true, but these people are helping secure the bitcoin network by adding to the network hashrate. We should be encouraging this kind of behavior
This is a common fallacy in bitcoin propaganda. There is no secure bonus with higher hashrates. The network keeps secure by an adequate balance of difficulty and hashrate. And this balance is guaranteed by the algorithm, not the miners.
Disagree. 51% becomes more and more difficult the more hashrate + higher distribution. The safety factor is in high hash rate + high rate of decentralization. So when an individual plugs in 300 MH/s, they are raising the hashrate and decentralizing the network a little. This is not a common fallacy, it's common knowledge.