BTC Vulnerability?

[LostNewbee]

What do you think the top vulnerabilities of the BTC blockchain are that are directly due to the increasing majority of hash power being "owned" by a single political/social entity (Chinese)?

[pandalion98]

What do you think the top vulnerabilities of the BTC blockchain are that are directly due to the increasing majority of hash power being "owned" by a single political/social entity (Chinese)?

Exactly what you said. That's the top vulnerability of bitcoin.
The decreasing distribution of hashpower is directly contradicting Bitcoin's main goal which is to be decentralized.

If a miner wanted to, they can push their hashing rate to more than 50% of the network rate. After that, the miner has control over who gets transaction confirmations and who doesn't. It's effectively a DoS attack.

[bitgolden]

What do you think the top vulnerabilities of the BTC blockchain are that are directly due to the increasing majority of hash power being "owned" by a single political/social entity (Chinese)?

Exactly what you said. That's the top vulnerability of bitcoin.
The decreasing distribution of hashpower is directly contradicting Bitcoin's main goal which is to be decentralized.

If a miner wanted to, they can push their hashing rate to more than 50% of the network rate. After that, the miner has control over who gets transaction confirmations and who doesn't. It's effectively a DoS attack.

However, that's nearly impossible to do since that would require quite a large amount of capital to fund the best possible mining equipment setup plus all the maintenance fees that it would cover to run the setup.

[Herbert2020]

nothing really comes to mind except if they some day decide to push their hash power together and have more than 51% of the hashpower in one place aka the 51% attack but that is not a serious threat anyways. besides more than 51% hash power happened once before without anything bad happening (see GHash.IO)

[pandalion98]

nothing really comes to mind except if they some day decide to push their hash power together and have more than 51% of the hashpower in one place aka the 51% attack but that is not a serious threat anyways. besides more than 51% hash power happened once before without anything bad happening (see GHash.IO)

That's because GHash is run by reasonable people. Imagine if some rogue pool got a sh*t-ton of hashpower because of promotion.