Why Bitcoin holders have no choice but to trust in Chinese crypto miners
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Read why Mark Hulbert feels that Bitcoin holders are left with little choice other than trusting Chinese cryptocurrency miners on Market Watch :
My question goes to the heart of one of bitcoin’s BTCUSD, -3.81% fundamental weaknesses. As you can see from the chart below, two-thirds of the world’s bitcoin mining power is based in China, which is a huge potential vulnerability for cryptocurrency. That’s because China potentially could mount what’s known as a majority attack, or a 51% attack, which would sabotage bitcoin’s integrity and possibly cause its price to plunge.
Read his full article here.
For more see : Bitcoin.
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