Bitcoin Forum

Bitcoin is headed in the wrong direction, and if we don't spread out the mining and hashing power to more pools, expect Bitcoin to crash very quickly.

Malleability issue wasn't a concern before; ever since the multi-hack-a-thon that is happening to almost all exchanges in the industry, it is a REAL BITCOIN PROBLEM.

We need something done to give the Bitcoin Network the continued power of the 'decentralized' aspect because we have two-three major pools sucking in all the hashing power since they are the largest pools yet, and will continue to grow this way (unless we do something).  They are going to be considered 'centralized pools' very soon, if not, we will be centralized soon if we keep going down this path. We are not too far from a 51% attack and possibly hurting the long-term growth of Bitcoin.

We need is more pools - hands-down!
If we spread out miners across more pools that are doing something for Bitcoin (aside from mining) this could be a good option like (DirectPool.net) and (P2Pool)

Here is a post about P2Pool asking for community help! (just recently posted)
"This is where you come in. In the past people have had trouble using some ASIC-based miners with p2pool, and unfortunately growth of p2pool began to stall. While p2pool has been holding its own in terms of hash rate, the overall network has grown, so p2pool's share has declined to the point where blocks are not being solved on a regular basis. This further discourages miners (especially smaller miners) from joining.

We badly need more miners to increase the hash rate, solve more blocks, and keep p2pool available as a pure peer-to-peer alternative to the centralized pools.  
Fortunately, p2pool is now known to work perfectly with most of the newer miners including Ant Miner S1's and Cointerra Terraminer IV (others listed on the main thread and wiki). If you have any of these, please give p2pool a try. "

Posted via https://bitcointalk.org/index.php?topic=518920.0
DirectPool is saying the same exact thing, we need to spread out miner power.

So if you are mining on the TOP 3 BTC pools, its time for you to make a decision.

What do I recommend?
We need to organize in the thread and decide where to spend hashing power moving forward.

I have two choices as of now until someone else mentions other alternatives.

+ 1 - http://www.DirectPool.net (http://www.DirectPool.net) - Thread: https://bitcointalk.org/index.php?topic=472122.0
+ 2 - http://www.P2Pool.org (http://www.P2Pool.org) - BTC Pool: https://bitcointalk.org/index.php?topic=518920.0
+ 3 - P2P > Nasty Mining's Nasty Pool and OgNasty

Let's do something asap and miners need to work together.

Who is ready to help?  

basically all/most of the bitcoin mining is done in warehouses and is not in control of the people like most script coins are minus the scammers who = more than 1 gpu/person.

I would be more than happy to add p2p pool mining to the options.

+1 glad to see some efforts to support p2p pool

New article to shed some light on this via @CoinDesk: "DirectPool Aims To Prevent 51% Attack with Community-First Mining Pool Approach"
Source @coindesk on 2014-03-21 http://www.coindesk.com/directpool-prevent-51attack-community-approach/

right.

what bitcointalk android app?

I mine at Slush's pool, so can't blame me if things go badly.  I have no idea why people keep piling onto large pools; I get paid exactly what I am supposed to get paid at Slush's.

How can you be so sure?

Did you check it somehow?

All pools, (assuming equal fees, pays Tx fees, isn't using a wonky made up scoring system, etc) will pay out the same over time. That's just how mining works.

The large pools reduce your pay outs, but payout more frequently. The smaller pools increase the payouts, but pay out less frequently. It all works out in the end.

hahahahah what?

I run 2.4TH in a warehouse - that makes me some sort of scammer or non-ally of bitcoin? By mid-april that number will be 4TH

I use eligius - the pool is about 7% of the network which means consistent payout but also maintains the network by being fairly small. IMO no pool should go past 20% of the network, and i they do they should charge ludicrous fees to drive people away (oh wait, BTCguild does that and its still massive)

p2pool is also a good idea, but i personally hvent given it a try yet

I am not talking about LUCK. I am talking about the fees and generally the acceptance by the pool including connection issues and errors.

I could get around 10% more on Ghash than Slush.

And I dont get LUCK in consideration.

Im located in EU.

http://www.bitcoinx.com/profit/

You have no clue. Are you showing me a calculator to prove that slush is the best pool ot there?

Not sure what the OP is suggesting, doesn't seem like we're even close to a 51% attack on the network.  I'm pretty sure I read somewhere GHash.IO would take precautions to limit the size of their pool to limit this scenario from occuring.

As of right now GHash.IO is only 25% of the network hash rate:

https://blockchain.info/pools (https://blockchain.info/pools)

Even if say in the unlikely event GHash and Eligius were to merge, they'd only be at 40% of the network.

FYI, I mine at BTCGuild which is the 3rd or 4th largest pool, depending on Discus Fish, primarily for the steady payouts and the stability of the pool.

If Bitcoin is going bye bye, it won't be due to a 51% attack.

Use http://blockorigin.pfoe.be/top.php, not blockchain.info which is inaccurate and heavily influenced by which pools are lucky/unlucky.

Noted, thanks for the link.  Looks like BTCGuild is holding up the #2 spot at 15%.

Even with the different percentages, still looks like we should safe for now from any 51% attack on the network, unless something drastic happens soon.

this is why BTC is going to fail; the mining is too centralized. It is the same problem as with the fiat currencies.

whats your solution - everyone be forced to mine with 1 GPU only or ou will be... arrested?

its capitalism. I want to run as many machines as I can because it is making me money. I will not stop adding more hardware just because someone else doesnt

As far as the decentralization of the Bitcoin network .... P2pool is the only way to go (IMO).  I have bitcoind running... Which is the backbone software needed.... So if your not running BitcoinQt or Bitcoind,  your not really part on the network....

But P2Pool isn't for everyone, But it did add a new twist to mining, So in a way its more fun to mine with your own pool...
If you can handle The 3 day ramp-up to maximum  payouts and sometimes 2-3 sad days with out a payouts or a Happy day with 2-3 payouts .
Plus over the long haul ...make more coin than most other pools.... Give it a try....

StangerG.mine.nu:9332
BG4

You tell me that I have no clue and then ask me a question...  The website link I posted shows how much btc's I should be making per day with the equipment I have and that amount is the same amount that Slush's pool pays me per day; that's how I know I am paid what I deserve.

The bitcointalk forum app was created by elbandi and can be found in the google play store. Here is the link to Elbandi's thread:

https://bitcointalk.org/index.php?topic=327238.msg3511550#msg3511550

oh interesting, I had no idea there was such an app. Thanks for the heads up!

AJ you should also add Nasty Mining's Nasty Pool to the list of P2Pools.
It is a P2Pool and has Nasty Mining and OgNasty behind it as well as nonnakip.
Very solid and they are doing alot with it.

added, got links to their threads?

Yes I do.
https://bitcointalk.org/index.php?topic=86854.0 (https://bitcointalk.org/index.php?topic=86854.0)
This is the main one and any other links are contained in it as well.
I hope it helps.
Happy Mining.

Thanks for the heads up- it has been added

Your welcome.
OgNasty and nonnakip are really solid with their setup.  They work hard and enjoy it so much.