How to be Anonymous Online (9 page)

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              In the first half of 2014, a Bitcoin mining pool named GHash.IO came to comprise over 50% of the mining power in the Bitcoin network. Previously, it was thought to be practically impossible for a single entity to gain such a large position. GHash.IO could have used their position to manipulate and compromise the Bitcoin system... essentially, asserting some 'Central Authority' powers. Major Bitcoin miners left the pool to remove the 50% threat, as those most vested in Bitcoin would stand to lose the most if confidence in the currency evaporated. Do an online search of “Bitcoin 51% Attack” to learn more.