After reaching 51% network power, Bitcoin mining pool says “trust us”

JMH · Jun 17, 2014

The GHash mining pool says that the Bitcoin community shouldn’t worry at all about the fact that it has recently breached the 51 percent threshold of the total cryptographic hashing output on several occasions.

“Our investment, participation, and highly motivated staff confirm it is our intention to help protect and grow the broad acceptance of Bitcoin and categorically in no way harm or damage it,” Jeffrey Smith, the CIO of GHash.io, said Monday in a prepared statement to Ars. “We never have and never will participate in any 51 [percent] attack or double spend against Bitcoin. Still, we are against temporary solutions, which could repel a 51 [percent] threat.”

After reaching 51% network power, Bitcoin mining pool says ?trust us? | Ars Technica

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After reaching 51% network power, Bitcoin mining pool says “trust us”

JMH

Emeritus, Contributor