Bitcoin could potentially be 52% Attacked by GHash.io and BTC Guild?

[bardi.harborow]

Not sure if anyone noticed... but according to blockchain.info, if GHash.io and BTC Guild joined forces, they could 52% (yes, I mean 52%) attack the network. Am I the only person who thinks this? So... what to do about it. Well, I was thinking about starting a new pool, one that would hopefully win back some percentages from the big players. Here is my summary of what the community wants:

1. 0% Fee
2. Merged Coin Mining
3. Great Stats
4. Simple to use interface
5. Fast Servers

I thought I would post on BT to see if there is any interest in developing another pool. I'm a computer programmer and I'm going to get started on this but I'd like some help. Also, what features do YOU want to see in a pool?

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[Remember remember the 5th of November]

Your title is too sensational!!!

[MilliCoin]

Perhaps a change of the title to "Bitcoin could potentially be 52%.." would be more accurate

[bardi.harborow]

Your title is too sensational!!!

Perhaps a change of the title to "Bitcoin could potentially be 52%.." would be more accurate

If my title wasn't sensational then the thread would get no publicity. But yeah, it is way too sensational. Can you change titles?

[drawingthesun]

Not sure if anyone noticed... but according to blockchain.info, if GHash.io and BTC Guild joined forces, they could 52% (yes, I mean 52%) attack the network. Am I the only person who thinks this? So... what to do about it. Well, I was thinking about starting a new pool, one that would hopefully win back some percentages from the big players. Here is my summary of what the community wants:

1. 0% Fee
2. Merged Coin Mining
3. Great Stats
4. Simple to use interface
5. Fast Servers

I thought I would post on BT to see if there is any interest in developing another pool. I'm a computer programmer and I'm going to get started on this but I'd like some help. Also, what features do YOU want to see in a pool?

Two things spring to mind:

1 - If BTC Guild attack the network the miners can pull out and drop back to another pool. Pool's attacking the network are not really that much of a threat.

2 - How will you pay yourself for hosting a pool that is intended to become a major player? You are offering to host and code this pool for 0 income. Do you plan on advertisements?

[awoland]

And if grandmother has penis she would be a grandfather...

[cypherdoc]

Your penalty for posting such a sensational title is failure.

[zimmah]

Not sure if anyone noticed... but according to blockchain.info, if GHash.io and BTC Guild joined forces, they could 52% (yes, I mean 52%) attack the network. Am I the only person who thinks this? So... what to do about it. Well, I was thinking about starting a new pool, one that would hopefully win back some percentages from the big players. Here is my summary of what the community wants:

1. 0% Fee
2. Merged Coin Mining
3. Great Stats
4. Simple to use interface
5. Fast Servers

I thought I would post on BT to see if there is any interest in developing another pool. I'm a computer programmer and I'm going to get started on this but I'd like some help. Also, what features do YOU want to see in a pool?

6. Reliability.
7. Include transfer fees (every pool that does not include transfer fees is a stealing pool in my opinion)

Also I don't necessarily want a 0% fee, but not more than 3%, I think 1 to 2% would be your best bet.

But yes, if you can pull it off I'm willing to try it.

Also, try to merge mine all the coins, there's currently no pool that merge mines all sha-256 coins and at the same time also includes transfer fees. NMC is commonly merge mined, but I believe PPC and IXC can also be merge mined. Maybe more. Try to include them all, it's just a waste of hashrate not to include them.


Also, I don't think a pool 51% attacking is likely because people will just leave the pool. However, still I think it's better to spread around the pool, sadly there's just not many good pools around right now. My favorite is bitminter at the moment, but there is no 'perfect pool' right now.

[DrG]

0% fee?

You want somebody to go over and wipe your butt after you poop?

[bardi.harborow]

Not sure if anyone noticed... but according to blockchain.info, if GHash.io and BTC Guild joined forces, they could 52% (yes, I mean 52%) attack the network. Am I the only person who thinks this? So... what to do about it. Well, I was thinking about starting a new pool, one that would hopefully win back some percentages from the big players. Here is my summary of what the community wants:

1. 0% Fee
2. Merged Coin Mining
3. Great Stats
4. Simple to use interface
5. Fast Servers

I thought I would post on BT to see if there is any interest in developing another pool. I'm a computer programmer and I'm going to get started on this but I'd like some help. Also, what features do YOU want to see in a pool?

6. Reliability.
7. Include transfer fees (every pool that does not include transfer fees is a stealing pool in my opinion)

Also I don't necessarily want a 0% fee, but not more than 3%, I think 1 to 2% would be your best bet.

But yes, if you can pull it off I'm willing to try it.

Also, try to merge mine all the coins, there's currently no pool that merge mines all sha-256 coins and at the same time also includes transfer fees. NMC is commonly merge mined, but I believe PPC and IXC can also be merge mined. Maybe more. Try to include them all, it's just a waste of hashrate not to include them.


Also, I don't think a pool 51% attacking is likely because people will just leave the pool. However, still I think it's better to spread around the pool, sadly there's just not many good pools around right now. My favorite is bitminter at the moment, but there is no 'perfect pool' right now.

You know, I was just thinking about why there aren't pools that merge mine all SHA-256 coins. You'll have to explain what you mean by transfer fees. If anyone wants to talk thru this I'm on:

Skype: bardi.harborow
IRC: #betterbitcoinpool

[zimmah]

when you do a transaction, you include a miner fee, when the block gets solved, the miners get the block reward (25BTC) and all miner fees from all the transactions (currently, because there's only 100~500 transaction on average, the total mining fee is just a couple of mBTC mostly) however, when bitcoin gains popularity, the transaction fees will become higher, and i think it's only fair to share the transaction fees between the miners.

Let's say the pool has 500 TH/s in total and I did 5TH/s for the whole block then i'd get 1% of the transaction fees (-2% pool fee, so 0.98% of the transaction fees).