(Wired) In the global arms race known as bitcoin mining, there’s success, and then there’s an excess of success.
That’s what a company called CEX.io discovered yesterday when it abruptly stopped accepting new machines into its consortium of bitcoin miners. The consortium — known in bitcoin circles as a pool — was running such a large portion of the worldwide computer network that oversees bitcoin, people were beginning to worry that CEX could corner the market and gain control of the digital currency. The whole idea behind bitcoin is that it isn’t controlled by any one central authority.
Now that the CEX has pulled back on the throttle, the bitcoin world can rest a little easier.