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282:(counterfeit) bitcoins. In July 2014, the GHash.io mining pool briefly exceeded the 51% threshold, which forced the bitcoin community to discuss the possibility of finding a common solution to this threat. The pool developing the majority caused a prominent bitcoin developer Peter Todd to sell half of his holdings. The news reportedly caused bitcoin's price to drop from $ 633 to $ 600 at the time.
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290:. Moreover, GHash.io representatives asked other mining pools to follow their example for the sake of the entire bitcoin community. It also stated that a new committee should be created to act as a watchdog against the 51% problem. This committee would include representatives of the mining pools, bitcoin businesses and other specialists in the field.
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was feared due to the popularity of GHash.io's mining pool. This kind of attack occurs when a single miner or mining pool is able to mine multiple bitcoin block rewards in a row. This would be a problem for the bitcoin network, because it hypothetically allows the mining pool to
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Since no long-term solution to the 51% problem is known, the participants agreed to implement some temporary measures. GHash.io released a voluntary statement promising that it would not exceed 40% of the overall bitcoin
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that operated from 2013-2016. The pool gained notoriety for briefly controlling more than 51% of bitcoin's computing power in 2014 (notable in that bitcoin was supposedly outside any party's control).
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258:. Altcoin mining options were available for independent miners, while bitcoin mining could also be done in the cloud by purchasing cloud-based mining power on CEX.io.
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attack, possibly in response to the group breaching 51%. By the end of 2015, GHash.io had stopped its mining activity in response to falling bitcoin prices.
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514:"Cryptocurrency News Round-Up: App Teaches Bitcoin to Children & GHash Commits to 40% Hashrate"
455:"Popular Bitcoin Mining Pool Promises To Restrict Its Compute Power To Prevent Feared '51%' Fiasco"
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that continues to operate today. Apart from mining bitcoin, GHash.io hosted a multipool for mining
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265:. After GHash.io closed in 2016, CEX.io continued operating as a bitcoin exchange.
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422:"One group controls 51 percent of Bitcoin mining, threatening security sanctity"
407:"One mining pool controls a dangerously dominant share of BitcoinSV's hash rate"
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437:"The gold rush days of bitcoin mining are over, and not because of the price"
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533:"Bitcoin Mining Pool Ghash.io DDos-ed in Response to threat of 51% attack?"
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469:"Bitcoin pool GHash.io commits to 40% hashrate limit after its 51% breach"
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354:"BitBeat: Mining Pool Rejects Short-Term Fixes To Avert "51% Attack""
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388:"Bitcoin currency could have been destroyed by '51%' attack"
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335:"Is One Bitcoin Miner Controlling the Entire System?"
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60:. Unsourced material may be challenged and removed.
312:In March 2015, GHash.io was struck by a crippling
1180:Financial services companies established in 2013
352:Michael J. Casey and Paul Vigna (16 June 2014).
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234:GHash.io was founded and owned by CEX.io, a
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120:Learn how and when to remove this message
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816:List of people in blockchain technology
585:"The 21 companies that control bitcoin"
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242:, as well as separate pools for mining
559:"Ghash / CEX Scaling Back Mining Pool"
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512:Anthony Cuthbertson (17 July 2014).
58:adding citations to reliable sources
435:Kevin Kelleher (23 December 2014).
531:Quentson, Andrew (June 15, 2014).
493:Bershidsky Leonid (17 July 2014).
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405:David Canellis (26 April 2019).
333:Joshua Brustein (17 June 2014).
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45:needs additional citations for
968:2020 Twitter account hijacking
1:
1159:Free and open-source software
811:List of bitcoin organizations
453:Alex Wilhelm (16 July 2014).
985:The Rise and Rise of Bitcoin
583:Rob Price (13 August 2015).
518:International Business Times
420:Tim Hornyak (16 June 2014).
307:International Business Times
948:Bitcoin scalability problem
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386:Alex Hern (16 June 2014).
369:"How bitcoin mining works"
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963:2018 Bitcoin bomb threats
958:2018 cryptocurrency crash
801:List of bitcoin companies
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495:"Trust Will Kill Bitcoin"
367:L.S. (20 January 2015).
236:cryptocurrency exchange
1062:Bitcoin in El Salvador
269:51% attack controversy
847:Cryptocurrency wallet
806:List of bitcoin forks
664:Environmental effects
273:The possibility of a
685:Andreas Antonopoulos
54:improve this article
587:. Business Insider.
145:Bitcoin mining pool
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27:Bitcoin mining pool
1015:Bitcoin Foundation
953:History of bitcoin
760:Cameron Winklevoss
1185:Bitcoin companies
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907:Bitcoin Unlimited
862:Lightning Network
501:. Bloomberg View.
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71: –
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65:Find sources:
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43:This article
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1080:Bitcoin City
1046:
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991:
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928:Bitcoin Gold
923:Bitcoin Cash
825:Technologies
775:Dave Kleiman
770:Craig Wright
659:Legal status
578:
566:. Retrieved
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540:. Retrieved
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477:. Retrieved
475:. 2014-07-16
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392:The Guardian
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356:. WSJ Blogs.
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341:. Bloomberg.
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280:double-spend
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162:Headquarters
116:
110:January 2020
107:
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52:Please help
47:verification
44:
1070:Bitcoin Law
996:(2015 film)
988:(2014 film)
852:Bitcoin ATM
755:Cody Wilson
473:ArsTechnica
295:ArsTechnica
263:mining pool
220:mining pool
180:Area served
1169:Categories
837:Blockchain
735:Nick Szabo
710:Hal Finney
705:Tim Draper
479:2014-10-14
320:References
275:51% attack
252:Auroracoin
80:newspapers
69:"GHash.io"
1147:Economics
750:Roger Ver
695:Adam Back
654:Economics
439:. Quartz.
184:Worldwide
157:July 2013
1135:Internet
1098:Category
1047:GHash.io
1042:CoinDesk
993:Deep Web
916:Currency
780:Jihan Wu
557:Madore.
288:hashrate
256:Darkcoin
248:Dogecoin
244:Litecoin
240:altcoins
213:GHash.io
138:Industry
133:GHash.io
1121:Portals
1108:Commons
1032:Bitmain
941:History
715:Wei Dai
649:History
638:Bitcoin
568:26 June
542:26 June
230:History
217:bitcoin
189:Website
154:Founded
94:scholar
977:Movies
900:Client
877:SegWit
673:People
254:, and
224:CEX.io
215:was a
199:
96:
89:
82:
75:
67:
18:CEX.io
1027:BitGo
892:Forks
882:SHA-2
857:ECDSA
794:Lists
194:ghash
101:JSTOR
87:books
1052:Nuri
570:2023
544:2023
314:DDOS
73:news
867:P2P
563:CCN
537:CCN
196:.io
56:by
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445:^
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