Comment on The Bitcoin hash rate has increased by 28.2% over the last monthparentComments−hasch10ygood point, but a mining monopoly would destroy the value and hence it's in the self-interest of miners to be diversified. that's an economical self-correcting mechanism on top of this technical mining/reward feedback mechanism.−schmichael10yAFAIK this is the conventional wisdom but not a proven fact. A smart 51% attacker could profit and go unnoticed:And contrary to commonly-repeated assertions, a monopolist can engage in subtle attacks that are hard to detect.http://hackingdistributed.com/2014/06/16/how-a-mining-monopo...
Comments
good point, but a mining monopoly would destroy the value and hence it's in the self-interest of miners to be diversified. that's an economical self-correcting mechanism on top of this technical mining/reward feedback mechanism.
AFAIK this is the conventional wisdom but not a proven fact. A smart 51% attacker could profit and go unnoticed:
http://hackingdistributed.com/2014/06/16/how-a-mining-monopo...