Definitely not a Scam: more than 50 percent Hasrat Bitcoin Cash controls one pool

The centralization of Bitcoin Cash has reached a new level — now half Hasrat cryptocurrency controls only one pool. According to experts CoinDance, mining pool BTC.TOP today responsible for 50.2 per cent Hasrat BCH. Its total capacity is 679 peachesa per second. BTC.TOP shares money with BTC.COM (257 of peachesa), ViaBTC (215 peachesa), AntPool (125 peachesa) and (187 peachesa).

Centralization as it is

Today the main topic of discussion in the Bitcoin community Cash is a high probability of an attack 51. Earlier cryptocurrency Roger Faith have not once criticized for being too centralized. The project has not passed the “stress test” an anonymous developer under the name Bitpico. The programmer found out that 98 percent of all the BCH node connected to one server, which could lead to a potential break-in.

The Central aspect of any decentralized blockchain is the ability to withstand pressure on the system and to prevent the intervention of any centralized organization. Attack 51 itself carries a great danger for the cryptocurrency, as it can totally destroy any project.

Recall another fork of Bitcoin Bitcoin Gold has suffered from the attack. 51 in 2018. Hackers for several days to re-spend coins BTG and the total amount stolen $ 18 million.

In some cases crossing the 50 percent barrier may occur unintentionally. In 2014, the GHash has “captured” more than half Hasrat Bitcoin. After a wave of disturbances in cryptocommunist the pool management decided to reduce their capacity so as not to undermine a lucrative business.

BTC.TOP can go on the same way. If a large miner will agree to reallocate processing power within the network of cryptocurrency, it will increase investor confidence in Bitcoin Cash. Otherwise, the BCH may be endangered.

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Bottom punched, Hasrat Ethereum has fallen to its lowest level in last 9 months

To get the Ethereum already profitable, so miners with relatively high cost of electricity continue to turn off their farms. The result is visible on the chart changes Hasrat cryptocurrency in November it has fallen to the lowest level since February 2018.

Recall that until August, the complexity of production Ethereum only increased, but since the beginning of autumn, Hasrat began to fall. If three months ago, he reached 297 terhesa, now down to 236 of terhesa, that is about 25 percent.

Profitable mine Ethereum

Ordinary miners are now suffering losses. Things are so bad that even a large company with a huge amount of iron trying to stay on the market. According to Trust Nodes, extraction 1 ETH in August costs about 152 USD. This does not include spending on maintenance of equipment.

However, the figure calculated on the basis of the relatively high cost of electricity — more than 12 cents per kilowatt. In some regions of the world still can make a profit with GPU if the electricity price less than 5 cents.

In other words, another “line of profitability” is at the level of $ 91. Except that with the consumption of the service cryptoform, mining even at five cents for electricity brings very little profit.

What’s next? First, the miners will try to sell the extracted ETH at a minimum to cover at least the cost. Secondly, it is now much easier to buy Ethereum than mine, so in the absence of major shocks on the market you can expect a return of buyers.

On the other hand, the rate of inflation Ethereum remains at a relatively high level of 7 per cent for the year. Inflation would fall to 4 per cent with the last phase of renovation of the Metropolis, but the developers of cryptocurrencies had to move it to January 2019. With the transition to Proof-of-Stake issue of new coins ETH will fall another two times.

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Bitmain will soon have 51% Hasrat in the Bitcoin network

The largest mining company Bitmain last week produced 42% of all bitcoin blocks, and Hasrat company in the bitcoin network is moving steadily closer to 51%.

Bitmain and 51%

Bitmain said that last week, 42% of all blocks in the Bitcoin network was made at their facilities. Hasrat and AntPool, which are both owned by Bitmain, currently is 26.6% and 15.3% of the total Hasrat network.

Bitmain Technologies Ltd. based in Beijing the company in mining, only for 2017 announced astounding profits, which fluctuate between 3 and 4 billions of dollars. Bitmain manufactures specialized equipment for mining bitcoin and other cryptocurrency – ASIC-Ki. They are much more powerful than the graphics card.

In addition to the production of ASIC-s Bitmain also owns several mining pools and offers cloud mining.

Bitmain also deals with Bitcoin mining Cash (BCH) as the BCH and BTC are working on the same algorithm. If Bitmain will cease production of BCH and instead uses 100% of its resources to mining BTC, then the company will receive 45% of the total Hasrat the Bitcoin network now.

It’s fairly close to 51%. And this, in turn, gives you the opportunity Bitmain to attack 51% of the Bitcoin network, and rewrite any transaction at its discretion.

How likely is attack 51%?

Many cryptocurrency enthusiasts are beginning to get nervous at the mention of 51%. This means a loss of decentralization. What happens if Bitmain will get 51%?

This is not the first case in the history of bitcoin when a 51% controlled by a single company. In 2014, mining company “Ghash” has received 51% Hasrat.

Then the company representatives urged the miners to move their resources to other mining pools. Representatives Ghash has called on all companies that will be in their place in the future, to follow their example. The difference is that Ghash was not a traditional company, but rather a community of miners, while Bitmain is a classic centralized company.

Another unlikely solution would be to change the algorithm Bitcoin Proof-of-Work (PoW). But this is unlikely due to security issues that may arise.

The chances are that Bitmain will make the attack 51%, are incredibly small, as it is likely to harm the company in the long term. Much more concern is the fact that 51% Hasrat concentrated in one place. In the event of a successful hacking of the company, the attackers will have full control over the Bitcoin network and this really should be afraid.

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