Re: Can someone help me understand what everyone is talking about? 51%?
I have noticed a lot lately that many people have been talking about the 51%. What exactly is everyone talking about? I have yet to find a proper explanation.
I'm also going to say right now:Those still going on about the 51% have no evidence to back them. Multiple charts show that GHash.io (The pool nearing 51%) Is now below 35%.
Ironically, everyone's freaking out that GHash is at 33%. Because the rise from 20% can just go unnoticed and then everyone cares once they near 51%...
But the 51% paranoia is starting to dissapate. It would be a good idea to educate yourself on the info about it, however, so check out some of the links or google "51% attack".
Ghash.io has about ~35% of total network hashrate now, but their share was as high as 48% a week ago AFAIK.
http://www.coindesk.com/bitfury-pulls-power-ghash-community-uproar/
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At press time, Ghash.io accounted for roughly 48% of the bitcoin network’s total hashing power, according to figures from Blockchain.info. The second most powerful pool, Discus Fish, holds 11% of the network.
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BitFury has released a new statement saying that it has moved 1.5 petahash of its hasing power out of the major bitcoin mining pool.