Bitcoin Forum

What's stopping people from mining or owning the whole pie chart?

Is this legal? or allowed? Is there anything stopping that person?

Not enough electrical power maybe?

Nothing at all, except the hundreds of thousands of dollars it would take

Or Euros, maybe. Just maybe.

As long as at least one other person is mining, no single person or entity could own the whole pie chart, regardless of how much money is spent.

In order to acquire half of the pie chart, once ASICs are released, it would take $5M-$7.5M.  To acquire 3/4 of the pie, $10M-$15M.

Of course, given that all of the ASIC companies do want to see Bitcoin continue to succeed, it is unlikely that any of them would sell enough ASICs to any single person or company to acquire this much of the pie.  The person attempting to do this would need multiple purchases by multiple aliases from multiple ASIC vendors to actually achieve it.

People seem to be making assumption about which pie chart you are asking about.  I'm not as sure.  Which pie chart are you concerned about someone owning?

This is the only mining pie chart I know of.
https://blockchain.info/pools

He must have thought that the Unknown portion in the pie is a hashrate from a single person ;D

What's wrong with you, people. These days I see questions like "Is this legal?" all over here.

But not to be entirely off-topic, overtaking the network by you own hashrate is perfectly allowed and legal. Abusing it to double spend may not.

"Legal" according to what country's law?

Bitcoin is not tied to any specific country, and as such not restricted by any law.

Quite the opposite.  Bitcoin use is bound by the laws of your local jurisdiction.

Yeah right, I'd like to see that in action :)

He never said it would be easy to enforce, but he is correct.

mmmmm pie.

Wich is nothing for someone who can spend billions.