http://www.news1130.com/2013/11/10/is-vancouvers-bitcoin-atm-at-risk-of-an-attack/ VANCOUVER (NEWS1130) – North America’s first Bitcoin ATM did around a $100,000 in business during its first week, right here in Vancouver.
But, Britain’s The Telegraph newspaper reports, there is a serious flaw with the digital currency.
“Whoever controls 51 per cent of the network, through mining, basically they can corrupt the network. They can attack it,” says Mike Yeung, with Simon Fraser University’s Bitcoin club.
He says the number is actually closer to 33 per cent but that it’s still an impractical situation.
“That level of collusion between that many people is very unlikely.”
