Bitcoin faces biggest threat yet: a miner takeover

Computers around the world ‘mine’ for bitcoins by competing with each other.
Computers around the world ‘mine’ for bitcoins by competing with each other.

By Peter Svensson | The Associated Press

The Bitcoin digital currency system is in danger of losing its credibility as an independent payment system because of the growing power of a group that runs some of the computers behind it.

In recent weeks, a British-based “mining pool” called GHash has amassed nearly half of the Bitcoin computing power and has briefly gone over 50 percent. Miners operate the computers that keep track of bitcoins and create additional coins.

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