Bitcoin’s central promise of decentralisation faces major tests. Currently, the two pools control a majority of the network’s hashrate. This level of concentration challenges the very foundation of Bitcoin’s decentralized spirit.
with x postCEO of whalers, Jacob King said two things. Mining The pool now controls more than 51% of the computing power of the Bitcoin network. He warns that the stage is set to a potential 51% attack, which could completely undermine the BTC security model and cause catastrophic fallout across the crypto ecosystem.
What does this mean for Bitcoin’s future stability?
For context, this last occurred in 2014, using mining pool ghash.io. The repulsion was quick, community panic spread, developers sounded alarms and Ghash was forced to voluntarily reduce the hashrate. Still, the damage occurred, and BTC fell more than 87% in the following months, entering one of the deepest bear markets.
Related readings: Bitcoin Jackpot: Solo Bitcoin Minor Net $360,000 Break 1 with 800 odds
Furthermore, Ghash faced a merciless DDOS attack and attacked from intense scrutiny Maxisuand eventually shut down in 2015. King claims that history is repeated. The company tried to hide its centralization riskthe truth is back to gaze.
According to King, this brewing crisis could be a pin that pops what he calls BTC’s megabubble. OTC data shows that it is large in many cases Whale It’s already spinning from BTC and is preparing the exit before potential chaos. In his opinion, even Michael Saylor, who was hailed as a BTC guru by maximalists, appears to be changing his stance.
King claims that Saylor quietly prepared a strategy to dilute him and throw him away. Holdings And he gives up the promise of his previous long-term beliefs, as he knows exactly what is coming. He also noted that the entire market structure rests on three fragile pillars. It’s a carefully designed story pushed by the influx of illicit stub coins, retail-driven FOMOs, and maxi cartels. If reality opens through these illusions and risks of centralization, it is fully recognized, Collapse It’s faster and more brutal than ever.
BTC Price Action
fiege_max Share A bold rating that there is an 85% chance that BTC has already peaked at $123,000. Analysts are now increasingly confident that BTC’s top is actually being achieved. BTC had an incredible year of ruthless uptrends that were totally different from 2021, but there was no real alto season. but, market It still offered plenty of opportunities along the way.
Related readings
The analyst warned that as simple modes are behind us and the market is in long-term hard mode, traders should prepare their exit and not let greed decide their decision.
fiege_max makes it clear that this does not mean that the market has ended or that prices will collapse in a straight line. Instead, he encourages realistic targets. He hopes to frame the commentary as a question of perspective and objectivity from his perspective as a trader, pushing forward the idea that the market is coming to an end.
Pixabay featured images, charts on tradingView.com
