It is a concern because it allows that one pool to alter transactions in the blockchain, while nodes create the rules avoiding a 51% attacks also helps keeps bitcoin decentralized.

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A 51% attack is financially unfeasible, and the only country that could have done it was China (I think they had around 65% of the hash rate). Instead of seizing the machines, they just kicked out the miners. Kkkkk, they are idiots. They'll regret it bitterly; they probably lost the chance to become the most powerful country in the world! Thank God they lost that opportunity, right?
superkruger's avatar
superkruger 1 year ago
And if they used that power to cheat, it would have resulted in a fork that no one else used. All these problems ultimately lead to potential short-term dips and reorgs, while the nodes will always pick the most decentralised original chain by default. Storm in a teacup.