{"id":8988,"date":"2014-06-14T11:25:07","date_gmt":"2014-06-14T15:25:07","guid":{"rendered":"http:\/\/mjtsai.com\/blog\/?p=8988"},"modified":"2014-06-14T11:25:07","modified_gmt":"2014-06-14T15:25:07","slug":"bitcoin-mining-finally-gamed","status":"publish","type":"post","link":"https:\/\/mjtsai.com\/blog\/2014\/06\/14\/bitcoin-mining-finally-gamed\/","title":{"rendered":"Bitcoin Mining Finally Gamed?"},"content":{"rendered":"<p><a href=\"http:\/\/hackingdistributed.com\/2014\/06\/13\/time-for-a-hard-bitcoin-fork\/\">Ittay Eyal and Emin G&uuml;n Sirer<\/a> (via <a href=\"https:\/\/twitter.com\/counternotions\/status\/477602193726767106\">Kontra<\/a>):<\/p>\n<blockquote cite=\"http:\/\/hackingdistributed.com\/2014\/06\/13\/time-for-a-hard-bitcoin-fork\/\"><p>A Bitcoin mining pool, called GHash and operated by an anonymous entity called CEX.io, just reached 51% of total network mining power today. Bitcoin is no longer decentralized. GHash can control Bitcoin transactions.<\/p>\n<p>[&#8230;]<\/p>\n<p>GHash is in a position to exercise complete control over which transactions appear on the blockchain and which miners reap mining rewards. They could keep 100% of the mining profits to themselves if they so chose. Bitcoin is currently an expensive distributed database under the control of a single entity, albeit one whose maintenance requires constantly burning energy -- worst of all worlds.<\/p><\/blockquote>","protected":false},"excerpt":{"rendered":"<p>Ittay Eyal and Emin G&uuml;n Sirer (via Kontra): A Bitcoin mining pool, called GHash and operated by an anonymous entity called CEX.io, just reached 51% of total network mining power today. Bitcoin is no longer decentralized. GHash can control Bitcoin transactions. [&#8230;] GHash is in a position to exercise complete control over which transactions appear [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"apple_news_api_created_at":"","apple_news_api_id":"","apple_news_api_modified_at":"","apple_news_api_revision":"","apple_news_api_share_url":"","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_is_hidden":false,"apple_news_is_paid":false,"apple_news_is_preview":false,"apple_news_is_sponsored":false,"apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"","apple_news_slug":"","apple_news_sections":"\"\"","apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":""},"categories":[2],"tags":[914,160],"class_list":["post-8988","post","type-post","status-publish","format-standard","hentry","category-technology","tag-bitcoin","tag-currency"],"apple_news_notices":[],"_links":{"self":[{"href":"https:\/\/mjtsai.com\/blog\/wp-json\/wp\/v2\/posts\/8988","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mjtsai.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mjtsai.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mjtsai.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mjtsai.com\/blog\/wp-json\/wp\/v2\/comments?post=8988"}],"version-history":[{"count":0,"href":"https:\/\/mjtsai.com\/blog\/wp-json\/wp\/v2\/posts\/8988\/revisions"}],"wp:attachment":[{"href":"https:\/\/mjtsai.com\/blog\/wp-json\/wp\/v2\/media?parent=8988"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mjtsai.com\/blog\/wp-json\/wp\/v2\/categories?post=8988"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mjtsai.com\/blog\/wp-json\/wp\/v2\/tags?post=8988"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}