tl;dr: GHash.IO shows that the economic incentives behind Bitcoin are probably very flawed, it might take a disaster to get the consensus to fix it, and if that happens I want to make sure I can pay my rent and buy food while we're fixing it.

Bitcoin developer Peter Todd is selling half of his coins because GHash.IO is approaching 50% of the hashrate.

I have said many times that the incentive engineering within Bitcoin was the one part that Satoshi was most unsure of and probably needs the most attention. I think of all the coins out there Feathercoin has probably done more to try and address this than others particularly as our founders were miners themselves.

Peter's points are:

1) Eliminate pools.

2) Provide a way for miners to solo-mine with low varience and frequent mining payouts even with only small amounts of hashing power.

3) Get rid of ASICs.

CEX.io have made a tweet indicating they are aware of the problem and stating that their intention is not to gain 51% of the network. There is this article in Coindesk in anticipation of a formal statement.

In other mining news we have had an incident of selfish mining at Eligius Mining Pool. One of the oldest Bitcoin mining pools is refusing to pay one of its members because they claim the individual was involved in a block withholding attack.

This forum has some of the smartest people around and I would like to hear your thoughts. I would also to know if anyone has a view on the Nothing at Stake problem with PoS coins.