Re:Inside the Race to Build the World’s Fastest Bitcoin Miner
by gknoy on Tuesday April 23, 2013 @12:53PM
(#5596294)
Why would the value of BTC plummet if you reach 51% of the network?
Re:Inside the Race to Build the World’s Fastest Bitcoin Miner
by ufo on Tuesday April 23, 2013 @01:26PM
(#5596549)
If a single group controls more than 51% of the mining power they can cheat the system (double spending, things like that). If such a monopoly was created people might lose their trust on Bitcoin and try to leave the system.
Unless they couldn't make the machine without you paying for it first. Or they don't want to break the system by reaching >51% of the network (after which the value of btc plummets down immediately, thus making the machines worthless).