Bitcoin Forum

GHash.IO hashed TWICE 8 BLOCKS IN ROW + ONCE 6 BLOCKS IN ROW TODAY!!!!
+ it's network share currently is (and not only today!!!) approx. 40% of ALL FRESH MINED BITCOINS.
Is it HEALTHY FOR BITCOIN ????? Actually what is a probability to that happen???
...and what about about DECENTRALISATION ,is it not Alfa & Omega of all bitcoin project,goal??
Will you (ALL PUBLIC) trust bitcoin anymore,if mostly (over 50%) of all network power is in hands of just 1 company (pool) only,because me personally not ???

it already is over 50%, they're just being smart about it.  i mean, why would you want to cause a panic about it when you're making so much money?   i mean, they can sell their asics for 5-10x what they should be priced at, and they can also sell their hashing power for at least 2x what it should be priced at...  in the meantime, they can just use it to mine.

do you really think they're making all their blocks public w/ the sig?

i do mining bitcoin to ROI what i invest in the asic hardware and of course i will choice the faster pool that can solve block faster.
is very simple concept.

The only sensible comment on this thread, agree 100% with you mojacho.

On 28th May Ghash.IO only found 7 blocks out of 30 over a 7 hour period (303077 to 107) Or what about May 29th only 9 blocks out of 40 (303157 to 97) went to Ghash. Perhaps that needs investigating too....Oh wait I know the responses, they won those other blocks via their hidden shadow pool deviously taking 51% blah blah blah.

Rant over, disclaimer, my minerrs point to Ghash.

all the senior members at this forum mining at GHASH.
Check out below thread.

NB ; Senior members post count more than 100.


time is Money.

No,I don't think so...I know they can also hash with THEIR OWN POWER + (with the people's who stick own rigs to their pool) in others "KNOWN"  & "UNKNOWN" pools ,so probably they already exceed OVER 50% of ALL POWER today!!! Is it mean a "DECENTRALISATION" ???...if so MUCH POWER is in hands of just 1 COMPANY (individual) only? ??? :o ::)
WAKE UP bitcoiners ,until it's not TOO LATE!!!! :-[
I know they have the smallest variance there simply, because they are "THE BIGGEST ONE" out of all pools here, so at least in a short-time period you probably reach a BIGGER REVENUE(PROFIT) ,as with a mining with some others pools + maybe they offer also "THE BEST CUSTOMER SERVICE" ....,but it seems to me as "DANCING ON A VERY VERY THIN ICE" = ANY TIME can be "GAME OVER" !!!!! Or not? ???
You can argue they are a "GOOD" or "SMART" guys (company) ,but what if NOT? Or what if "SOMEONE BAD" takes OVER them??? :o
ONLY 1 COMPANY (pool) is a VERY EASY POINT OF FAILURE (taking over,shut down possible EASY) or not???!!
What happens then with a value of YOURS and MY bitcoin hmm??? Try guess...
DECENTRALISATION is the "BASIC" point of the BITCOIN!!! Without it there will be less CREDIBILITY ,much MUCH WEAKER TRUST IN BITCOIN ,and that will prevents bitcoin's WIDER ADOPTION and ACCEPTANCE WORLDWIDE ,right?!!! >:(
Conclusion I was also a miner, but I NEVER PLUG my RIGS to a "BIGGEST POOL" ,although I knew I could have a higher (at least in a short period of few days/weeks) 10% or so more in revenue (profit) !!!!!
Just try to do same and maybe everything will be OK ::)
...or actually WHERE IS A COMPETITION hmmm????? ::)
REMEMBER there is NO ANTIMONOPOLY OFFICE in bitcoin ,therefore PLEASE!!!! NEVER PLUG YOUR RIGS TO THE BIGGEST POOL!!!!!!! Thank You All  8) !!!!!

Well, according to this, ghash.io right now only has 35% of the total hashing power

blockchain.info/pools

Well,according their website, GHash.io right now has ONLY 5.72 PHash/s WTF??? :o  Just only a couple hours ago it still had over 30 PHash/s !!!! :o  Very very strange ,no? ::) ...maybe because of DDOS attack hmm????

Or they haven't paid their electricity bill? Does anybody know where all the data centers of ghash are located? I think I once read that the biggest is in the Ukraine?

;D ;D ;D ...somewhere I read they have "SOMEWHERE" :D in Iceland & Finland and...,but I'm not sure if it's true :o ?
 Does know someone better as me hmm? ::)

They are everywhere where electricity is cheep . Its not good that they have so much power that needs to be stopped.
But i think they are smart enough not to try 51% attack. They made , and will make much more money while not doing it. They cant afford to try that and let bitcoin burn to the ground . LOL .

OK,I believe you they are "SMART" & also a "GOOD GUYS" => they will NEVER (not only Today!!!) sink bitcoin under the "51% ATTACK" ,but they were already VERY NEAR and still THEY ARE (don't forget they can have a POWER in "others pools" also!!!!) ,but what will really happen if someone else "A BAD GUY/S" seize their business, take over their mining rigs & attack the network under "a 51% attack" hmmm??? :o
...or they just attack their "DATA CENTRE/S" with 1 (or few) shoot/s only? "BOOM" and that's it... :'(  Even,if their website will be just "SHUT DOWN FROM THE INTERNET",a DAMAGE to the bitcoin will be "HUGE" (at least ALL NEW TRANSACTIONS will be DELAYED, until difficulty adjust and that could lasts even a few weeks!!!) => this could be a better "scenario"

Even if we'll have 10 CENTRALIZED (Clouding Hashing Companies/Pools)*each one with approx.10% of all network power,=>
it ALWAYS will be a VERY EASY for some "BAD GUYS" to TAKE OVER THEM and.... ???
So I'm and I ALWAYS will be against "HUGE" centralized "DATA CENTRES" ....and YOU understand WHY, yes?
(PS: I know they can be a MORE effective/profitable...,but it's also a BIG EVIL for a security network and sooner or later exactly just because of this bitcoin will FAILS!!!!

Whats the chances of a portion of that unknown piece of the pie graph also being ghash.io?

They can certainly do that. All they need to do is change to a new IP and not signing their blocks with their usual message. Then no one will known. If you compare the 24h and 4 days pie chart, there is actually not much difference. The percentages hasn't changed much. May be they have distributed their hashes to other pools?

Something like that certainly might explain how a given pool could potentially punch above its weight while reporting a lower hashrate, even covertly cross the 51% mark without alerting Andresen/Antonopoulos/Satoshi therefore escaping the wrath of the wider bitcoin communities.

Decentralized mining is the only way to go. P2Pool provides this. The larger it grows, the less variance it has, just like ghash, except P2P gaining over 50% does not jeopardize the trustworthiness of the network..

True story! Join P2Pool now!