If a pool is finding most blocks, why we join another pool?

[enginera]

Hi there,

There's pool A mining an altcoin, and finding %95 of blocks with high hashrate and many miners.
But there are other pools (B,C,D) also, mining same coin, but they only find %5 of the blocks.

So what's the purpose of joining other pools  B,C,D? That means low-profit.

[jogoma12]

You do not want a single entity having so much power over a coin. That opens the network to attacks on the blockchain. In order to preserve the integrity of the chain, it is important to distribute power. That way attacks become near impossible

[enginera]

Okay then is that okay until %51? Can we keep up using the big pool if its power lower then %49-50?

[jogoma12]

Okay then is that okay until %51? Can we keep up using the big pool if its power lower then %49-50?

That should be relatively safe. It is just a matter of preventing. A 51% attack is more of a theory than anything dice we have yet to see one. You should Google it. It will be in the bitcoin wiki

[yaamp]

Hi there,

There's pool A mining an altcoin, and finding %95 of blocks with high hashrate and many miners.
But there are other pools (B,C,D) also, mining same coin, but they only find %5 of the blocks.

So what's the purpose of joining other pools  B,C,D? That means low-profit.

normally, pool B, C and D should be as profitable as pool A, on the long run

[jogoma12]

Hi there,

There's pool A mining an altcoin, and finding %95 of blocks with high hashrate and many miners.
But there are other pools (B,C,D) also, mining same coin, but they only find %5 of the blocks.

So what's the purpose of joining other pools  B,C,D? That means low-profit.

normally, pool B, C and D should be as profitable as pool A, on the long run

That is also a good point. If you stick around with the smaller pools, you will make about the same. Hashing is like guessing. You need luck

[jawitech]

Having all miners in one pool might cause problems if this pool is down (server problems, DDoS attacks,...).

[Amph]

because of the 50% rule, actually there are many other attacks at 30-40%

[achimsmile]

Okay then is that okay until %51? Can we keep up using the big pool if its power lower then %49-50?

That should be relatively safe. It is just a matter of preventing. A 51% attack is more of a theory than anything dice we have yet to see one. You should Google it. It will be in the bitcoin wiki

We have seen multiple successful 51% attacks on bitcoin clones. It's not just a theory.

edit: https://bitcointalk.org/index.php?topic=332584.0