Re:MasterCard to open up network to cryptocurrencies
by omegaworks on Friday February 12, 2021 @01:46PM
(#26116984)
Exactly. The Bitcoin folks like to point to a "shadow cabal" that controls US currency as though that same problem doesn't exist in Bitcoin's architecture. At least we know the names of everyone serving on the Federal Reserve's board.
Bitcoin, on the other hand, can be controlled by any miner or group of miners having over 50% of the network's hash rate[1]. We don't know the identities of the miners and we have seen them engage in political actions that change the behavior of the currency[2].
Bitcoin, on the other hand, can be controlled by any miner or group of miners having over 50% of the network's hash rate[1]. We don't know the identities of the miners and we have seen them engage in political actions that change the behavior of the currency[2].
1. https://www.investopedia.com/terms/1/51-attack.asp
2. https://en.wikipedia.org/wiki/List_of_bitcoin_forks