Bitcoin’s new problem

Published June 17, 2014 8:09pm ET



The digital currency Bitcoin is facing a new threat to its viability, this time involving its claim to be decentralized.

On Friday, a single mining pool — a group of so-called miners who direct computing power to maintain the network’s ledger in exchange for payment in Bitcoin — grew large enough to command slightly more than half of all the Bitcoin system’s mining power.

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