Post
Topic
Board Bitcoin Discussion
Re: Why didn't people make a big deal about mining pools at ~33%?
by
S4VV4S
on 18/06/2014, 13:02:47 UTC
How is bitcoin a trustless currency when you need to trust mining pools not to attack the system?

Look at this article: http://hackingdistributed.com/2014/06/16/how-a-mining-monopoly-can-attack-bitcoin/

Bitcoin could be a trustless currency if there were measured implemented to prevent centralisation of mining power.

We know the current situation is not how Satoshi intended it to be. I think if he didn't go away he would have come up with a solution a long time ago.

Any suggestions how to go about it?

I had some but I was told that they wouldn't work for such and such reason.

We need a working solution that doesn't require making major changes to the way the protocol works.
And from what I gather, that is not possible.