Listening to Tom Luongo and Dan Held yesterday and Dan was saying mining is centralized to 2 companies controlling about 60% of the mining power. How can this lead to an issue for BTC being decentalized? I assume if they control a lot of the hash power they can try to rewrite the time chain and potentially create a ledger which able to be controlled ie double spend etc. They could potentially create a new time chain in competition with the original and then players like Blackrock can choose to use that chain perhaps.
I heard mention of block templates also. Where is a resource that can help me understand this potential vulnerability more?
Are people out there concerned about this? i dont hear much talk about it but maybe thats because its uncomfortable for us to talk about vulnerabilities of our beloved BTC.
#asknostr #nostr #btc #mining #bitcoin #plebchain
⚡️Bitcoinia (Bitcoin Art)
npub1s4…y404a
2024-09-09 02:22:09
Author Public Key
npub1s4k3p8sns3m0sya72kz2mlzdjusl4gcpu4zyvg6hcxr9rcnyev9qxy404aPublished at
2024-09-09 02:22:09Event JSON
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"content": "Listening to Tom Luongo and Dan Held yesterday and Dan was saying mining is centralized to 2 companies controlling about 60% of the mining power. How can this lead to an issue for BTC being decentalized? I assume if they control a lot of the hash power they can try to rewrite the time chain and potentially create a ledger which able to be controlled ie double spend etc. They could potentially create a new time chain in competition with the original and then players like Blackrock can choose to use that chain perhaps. \n\nI heard mention of block templates also. Where is a resource that can help me understand this potential vulnerability more?\n\nAre people out there concerned about this? i dont hear much talk about it but maybe thats because its uncomfortable for us to talk about vulnerabilities of our beloved BTC. \n\n#asknostr #nostr #btc #mining #bitcoin #plebchain ",
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