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Author Topic: Deepbit nearly at 50%! Change Pool now!  (Read 3654 times)
ThePok
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July 06, 2011, 11:09:47 AM
 #1

As stated in the Topic, deepbit is becoming to strong! Cry

Bitcoins wont be save anymore!

We have to act!
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July 06, 2011, 11:56:32 AM
 #2

DoS much?

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July 06, 2011, 12:08:56 PM
 #3

Is this true? Is there anywhere we can view the current statistics? I thought DeepBit has had over 50% once before.

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July 06, 2011, 12:13:34 PM
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AFAIK even if worst case take over of deepbit network happened it would only mean temporary problem for bitcoin network, as new client version will be released to reject fake block chain, and people will stop using deepbit at that point, and probably more in the future once they have had that sort of thing happen.

so dont fret, but sure peeps out there should be better educated that being with biggest pool doesn't necessarily have any particular advantages worth choosing it for.

i started with deepbit but have since moved to a local (my country) based pool which has a real tight nit and helpful community that you get that chance to become friends with in irc etc.

 Cheesy

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pbj sammich
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July 06, 2011, 12:27:14 PM
 #5

Is this true? Is there anywhere we can view the current statistics? I thought DeepBit has had over 50% once before.

try http://bitcoinwatch.com/
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July 06, 2011, 12:32:09 PM
 #6

Is this true? Is there anywhere we can view the current statistics? I thought DeepBit has had over 50% once before.

try http://bitcoinwatch.com/

True, I forgot about that. But yeah, bitcoinwatch is showing DeepBit has close to 50%. I really don't know why so many people use DeepBit, what is the attraction? Popularity?

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July 06, 2011, 12:45:33 PM
 #7

The bigger the pool, the less time a block is found so ppl see a steadier rate of income (less variance)

It's weird, some days ago polls were balanced...
Erikbfarm
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July 06, 2011, 01:39:03 PM
 #8

As stated in the Topic, deepbit is becoming to strong! Cry

Bitcoins wont be save anymore!

We have to act!

It'll never be allowed to go over the 50% barrier, at the very least i'm sure tycho will prevent it himself.
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July 06, 2011, 02:02:05 PM
 #9

The sky is falling!!!!!
DanielleEber
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July 06, 2011, 03:05:12 PM
 #10


It'll never be allowed to go over the 50% barrier, at the very least i'm sure tycho will prevent it himself.

Why would Tycho limit his own income?  He gets 3% of the pool, so bigger is better I would assume.
pbj sammich
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July 06, 2011, 03:07:20 PM
 #11

The bigger the pool, the less time a block is found so ppl see a steadier rate of income (less variance)

It's weird, some days ago polls were balanced...

I think you need to take into account the recent DDoS attacks - BTCGuild is still done for example and I know that is a popular pool
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July 06, 2011, 03:18:10 PM
 #12

Eh, I won't act like a know a lot so I'll ask.
Would it be bad for a pool to exceed 50%?

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July 06, 2011, 03:22:58 PM
 #13

Eh, I won't act like a know a lot so I'll ask.
Would it be bad for a pool to exceed 50%?

when a pool owns over 50% they can in theory do everything bitcoin doesnt want them to Tongue

like:

freeze accounts, reverse transactions (by delay effectivly)

and introduce bogus blocks since they are the ones who varify them Wink

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July 06, 2011, 03:31:57 PM
 #14

Eh, I won't act like a know a lot so I'll ask.
Would it be bad for a pool to exceed 50%?

when a pool owns over 50% they can in theory do everything bitcoin doesnt want them to Tongue

like:

freeze accounts, reverse transactions (by delay effectivly)

and introduce bogus blocks since they are the ones who varify them Wink

Whew, that would be very very bad  Tongue
Anyhoo, I'm mining at bitcoinpool.

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TheLuckyGuy
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July 06, 2011, 03:35:55 PM
 #15

yeah I changed the pool but mine is getting DDosed !
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July 06, 2011, 03:53:50 PM
 #16

Nah, I'm good.

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July 06, 2011, 04:11:48 PM
 #17

Eh, I won't act like a know a lot so I'll ask.
Would it be bad for a pool to exceed 50%?

when a pool owns over 50% they can in theory do everything bitcoin doesnt want them to Tongue

like:

freeze accounts, reverse transactions (by delay effectivly)

and introduce bogus blocks since they are the ones who varify them Wink

  Personally I dont worry about this (but then Im possibly quite wrong) as why bother with this? when they are making so much anyway. Perhaps someone more in the know can slap some sense into me? Grin
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July 06, 2011, 04:44:57 PM
 #18

Does anyone know if BTCGuild is going to re-open?
lolcat
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July 06, 2011, 04:50:57 PM
 #19

I moved to a smaller pool even though Im not mining much i directed my miners to the Bitclockers.com pool
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July 06, 2011, 07:03:02 PM
 #20

Why would Tycho limit his own income?  He gets 3% of the pool, so bigger is better I would assume.

If the assumption spreads the block chain is compromised, his BTC income will be worthless in notime. And for this to happen, it must not be true. Some short selling jerk could easily throw in fake chains and claim double spending on some of the transactions deepbit validated. Until the mess is cleaned up, BitCoin might be dead anyways.

So unless a pools mission is to destroy trust in BTC, it's absolutely in their interest to never come close to 50% hashing power.
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