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RE: Steem - Has This Wonder Coin Become Destabilised And Effectively Centralised Now?
I read the white paper but am struggling with the technical details. If steem was seen (rightly or wrongly) as a threat to bitcoin, could a big Chinese mining pool spend a day 51%ing steem and trash the steemit blockchain?
They could, though the CPU power required would be massive. In addition it would be unnecessary due to the GPU vulnerability, all that is required is the right programming skills, something the Chinese have in abundance!