Thread 60819690

51% of all of bitcoin is now controlled by 2 entities.

>>60819690 (OP)
liar

>>60819697
Cant tell if retard or maxi or both

>https://www.bitget.com/news/detail/12560604920216

After Monero’s 51% takeover, two Bitcoin mining pools have sparked fears of a potential 51% attack on Bitcoin.

Notably, the developments have raised critical questions about the security of the Bitcoin network and the stability of the wider crypto market.

Also, the concerns over mining centralisation have intensified just as BTC faces steep price declines and broader macroeconomic pressures.

Two mining pools dominate Bitcoin’s hash power
Two major mining pools, Foundry USA and AntPool, now control more than half of Bitcoin’s total computing power.

JUST IN: Bitcoin is now at risk of a 51% attack as two mining pools control over 51% of the hash power. pic.twitter.com/QKkMziOy1C

Foundry even mined eight consecutive blocks in a row , an event that is extremely rare and has heightened fears of network centralization.

With over 51% of the hash power concentrated in just two entities, experts warn that Bitcoin is technically vulnerable to a 51% attack.

In such a scenario, the dominant miners could potentially reorganize blocks, censor transactions, or undermine trust in the network.

While such an attack would be extremely costly and perhaps self-defeating, the centralization trend has raised red flags across the community.

The last time this happened was in 2015 or so right before BTC crashed 87%

>>60819704
This is literally the end

BTC will be taken down and then CBDCs will be forced through our throats

>>60819724
My thought exactly. BTC will be the biggest rugpull of the century. They started with monero, now it can also happen to btc.

>>60819704
>In such a scenario, the dominant mining pools could potentially reorganize blocks, censor transactions, or undermine trust in the network.
miners would quickly redirect to another mining pool. just threatening to redirect is enough to pressure pools into good behavior, just look at what happened with F2Pool during the OFAC scandal.

>>60819690 (OP)
>>60819697
>>60819703
You mean 51% of the mining, not of the Bitcoin Bobo

>>60819788
kek

>>60819787
>>60819788
Yup, its very bad indeed once they decide to fuck with transactions the entire ponzi collapses

>>60819788
not even 51% of the mining, 51% of pooled hash. it takes a single command to swap from mining pool A to mining pool B, so it's essentially a non-issue

>>60819805
the point is that this centralization trend will only continue into the future and the only way to realistically keep the network running in the long term is to have the US and China in a perpetual never ending trade war.

>>60819747
BSV

And it gets even more centralized after each halving. Kyc captured miners will control everything in just a few years.

Fact: If two mining pools are hacked, they can create an infinity money glitch and control how much money you have and where it goes.

Guess it's XRBitcoin. Just like XRP.

>>60820146
Exactly. They could literally revert transactions, double spend or create like 100million extra bitcoins. What do you think will happen to the price when that happens?

>>60819690 (OP)
most likely, this is all still a game of peek-a-boo between whales to see who can move their belly first, although before either of them gets bored I'm going to squeeze my bongo enough like the good parasite that I am, fuck these guys

>bro it's the new money
>bro it's completely unregulated an--
>ok some regulation is fine as long as I'm making prof--
YOU ARE HERE
>uh oh normies own the entire market and it's completely and utterly manipulated
>fucking normies stole crapto from us!

>>60820156
>or create like 100million extra bitcoins

>>60819690 (OP)
that's neat, how much does it cost not only to do a 51% attack, but to maintain the attack?

>>60821497
it actually already happened before and then they forked it

>>60821552
If you short BTC while you are doing it it pretty much balances itself out.

>>60819690 (OP)
And I use a bonkpay card to pay for porn via anonymous gift card purchasing. I don't care what happens to Bitcoin to be perfectly honest, I missed out time and time again and I don't want to keep thinking about it any more. It's ETH and SOL from here on out.
>>60819747
>>60819787
>>60819724
>Bad situation happens recently
>Gay ass human brain associated bad thing with other thing, making it seem like other thing can also go through bad situation
Pic related. Monero is recovering btw, these were larpers that made a move and got swept out.

>>60821620
>>60821624
I've never seen that orange on an ID before. Is that rare?

>>60821959
you need pass for it

>>60819690 (OP)
90% of SON will be controlled by a single entity (me) if I keep sloorpin it all up for myself! Haha... I'm going to kill myself soon if my life doesn't turn around by December.
>>60819810
This has been going on outside of crypto/Bitcoin since the beginning of the West though. How is this an issue? :^)

Buy Litecoin instead.