Experts: China can kill Bitcoin 19 different ways
Source:In research publications experts at Princeton University, and Florida international University spoke about is not the good intentions of China. According to analysts, the authorities have quite a lot of motives «kill» Bitcoin or greatly harm the entire industry of crypto-currencies.
theWhy China does not like Bitcoins
A Detailed analysis of all threats to Bitcoin can be found in the article itself under the title ««. Researchers have tried to understand the «relations» between China and crypt. As you know, the authorities have set a pretty strict policy of regulation of digital assets. However, China itself is still the most popular place in the world for mining Bitcoin.
The Main threat to cryptocurrency — attack 51%. It can be done already now as Bitcoin mining «is very centralized». According to researchers, more than 80 percent Hasrat coins concentrated in the six pools. Five of them are in China.
While one pool not enough Hasrat, but located in the country, pools can join voluntarily (or even forcefully) to carry out attacks.
Due to the fact that mining companies control the spread of the found units in the network of Bitcoin, the Chinese authorities can obtain indirect control over hasraton cryptocurrencies. If it still happens, they will have the opportunity to spend some types of attacks on Bitcoin.
Another danger — attack Goldfinger. It pools declare that they will not accept transactions with a certain black list of addresses. This forced decision will jeopardize the Bitcoin ecosystem.
Other types of threats are classified into four levels of risk and described in detail in the research work. We will remind, the similar situation applies not only to Bitcoin, but Bitcoin Cash. This cryptocurrency is also often in centralization.
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