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Author Topic: stop mining at ghash.io you FUCKTARDS  (Read 7481 times)
Gator-hex
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February 18, 2014, 04:27:21 PM
Last edit: February 18, 2014, 07:26:24 PM by Gator-hex
 #61



It is shocking that someone could be around for so long and not understand how unlikely or little impact a 51% attach would be.

It's happening right now. When a pool can put down 6 blocks in a row it means you cannot trust a transaction isn't a double spend until you have 6+ confirmations. Now imagine they colluded with the next biggest pool, that would become transactions 12+ transactions! Once the trust in the transaction system is broken Bitcoin will become worthless.

I don't understand why people is so afraid of 51%. Its not like Ghash would want their business to die..

Dude did you miss the part where I posted their address was on the same street as the Bank of England in the City of London where all the other old money banks are located? Who has the most to gain from seeing Bitcoin destroyed, oh yeah, the banks!

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February 18, 2014, 09:38:33 PM
 #62

I hate to add to the conspiracy, but I do love a good conspiracy theory Grin

They charge no fees for trading and have 0% fees on their pool. The maintenance fee is not high enough to be the sole source of income. What is their financial motivation to provide this service? Crashing Bitcoin value and then relaunching the Bitcoin concept as a government/banking backed system would potentially be very profitable. I don't see where crashing the value of Bitcoin hurts them at all.
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February 18, 2014, 10:14:54 PM
 #63

I hate to add to the conspiracy, but I do love a good conspiracy theory Grin

They charge no fees for trading and have 0% fees on their pool. The maintenance fee is not high enough to be the sole source of income. What is their financial motivation to provide this service? Crashing Bitcoin value and then relaunching the Bitcoin concept as a government/banking backed system would potentially be very profitable. I don't see where crashing the value of Bitcoin hurts them at all.

They own a lot of the hashing power on their own pool. That's direct profit. They are part of the same group as CEX, who's per share (~4 USD/GH) is outrageously expensive. If they reinvested 90 percent into hardware to keep up with/expand the network, they would still be profiting handsomely.

On it's surface, you have an interesting argument, but it don't hold up.

As to them being in London's financial district... They aren't. It's just an office. They are, IIRC, a Russian company.

I don't mine with them, as they were difficult to set up for me, and Eligius is not. And frankly, Wizkid provides better customer service.
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February 18, 2014, 10:44:37 PM
 #64

As to them being in London's financial district... They aren't. It's just an office. They are, IIRC, a Russian company.

I can believe that, didn't they strangely appeared around the same time 50BTC disappeared/got hacked?  Wink

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February 18, 2014, 10:49:41 PM
 #65

As to them being in London's financial district... They aren't. It's just an office. They are, IIRC, a Russian company.

I can believe that because strangely they appeared around the same time as 50BTC disappeared/got hacked?  Wink

I haven't really followed that tale, so I don't know. I do know that ghash and CEX were always linked, and that they built a huge farm based on bitfury chips. This was all out in the open. The way they are structured lends no "conspiracy" to their feeless structure.

What if any relationship they bear to 50BTC I have no idea.
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