To be fair, we should acknowledge that the same thing is possible today with Bitcoin too. You don’t need 51% of the hash to do a 51% attack. Even with 33% you can do it with relative success. The state of Bitcoin mining today is not rosy at all.
51% attack next. What a joke and scam 🤣
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Discussion
Agreed, but it’s a free market. The only real antidote is encouraging plebs to mine at home. That said we have to accept that today’s home miners and open source efforts simply can’t compete with industrial asic farms.