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Author Topic: [2014-01-09] Ghash.io Will Prevent Getting 51% of the Mining Network Hashrate  (Read 1101 times)
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January 09, 2014, 05:55:40 PM
 #1

http://bitcoinboard.net/ghash-io-will-prevent-getting-51-network-hashrate/


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January 09, 2014, 06:46:55 PM
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At least they replied to the issue beforehand and their two moves - allowing miners to point elsewhere and no new registrations - are a step in the right direction.
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January 09, 2014, 06:51:42 PM
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Quote
Micro-payments aggregation, which will enable users to receive small
amounts of Bitcoins from third parties.
Off chain transactions, nice move!

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January 10, 2014, 12:27:10 AM
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First class response.
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January 10, 2014, 01:56:14 AM
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Of course ghash.io would do something about it. Like any mining pool would want to bring down the network, their source of massive income ........
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January 10, 2014, 02:37:32 AM
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Of course ghash.io would do something about it. Like any mining pool would want to bring down the network, their source of massive income ........

Still we couldn't just count on the good will of the mega pool like we did every time in the past(Deepbit, BTC Guild...), it's intriguing why miners keep flocking to the biggest pool and whether something could be done about it.

https://tlsnotary.org/ Fraud proofing decentralized fiat-Bitcoin trading.
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January 10, 2014, 02:54:56 AM
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Of course ghash.io would do something about it. Like any mining pool would want to bring down the network, their source of massive income ........

Still we couldn't just count on the good will of the mega pool like we did every time in the past(Deepbit, BTC Guild...), it's intriguing why miners keep flocking to the biggest pool and whether something could be done about it.

They need some stiff competition .... I agree having one massive pool isn't a good idea. Other people need to step up and run a decent service with low fees.
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January 10, 2014, 03:05:13 AM
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Of course ghash.io would do something about it. Like any mining pool would want to bring down the network, their source of massive income ........

Still we couldn't just count on the good will of the mega pool like we did every time in the past(Deepbit, BTC Guild...), it's intriguing why miners keep flocking to the biggest pool and whether something could be done about it.

Do we know how much hash power is from CEX.io mining contracts (which go through ghash.io) vs independent miners?
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January 10, 2014, 03:11:00 AM
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Of course ghash.io would do something about it. Like any mining pool would want to bring down the network, their source of massive income ........

Still we couldn't just count on the good will of the mega pool like we did every time in the past(Deepbit, BTC Guild...), it's intriguing why miners keep flocking to the biggest pool and whether something could be done about it.

Do we know how much hash power is from CEX.io mining contracts (which go through ghash.io) vs independent miners?

I would love to know the answer to this as well....
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January 10, 2014, 03:38:44 AM
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Of course ghash.io would do something about it. Like any mining pool would want to bring down the network, their source of massive income ........

Still we couldn't just count on the good will of the mega pool like we did every time in the past(Deepbit, BTC Guild...), it's intriguing why miners keep flocking to the biggest pool and whether something could be done about it.

Do we know how much hash power is from CEX.io mining contracts (which go through ghash.io) vs independent miners?

I would love to know the answer to this as well....

Yup, if Ghash.io really wants to help the network, it would be a good first step to publish such data....

https://tlsnotary.org/ Fraud proofing decentralized fiat-Bitcoin trading.
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January 12, 2014, 12:24:44 PM
 #11

At least they had a good responce to problem. I am glad that people left the pool as it got closer to the 51%
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January 12, 2014, 09:18:58 PM
 #12

enlightened self interest often works... to me a lot of the other threads discussing this topic are too doomsday-prone

maybe some of the bigger VC's should devote some $$ to helping develop viable alternatives to this large miner pool

also, in a worst case , we do a fork

in other words, while the problem needs to be addressed, it is not the be all end all some are making it out to be

onwards and upwards!
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January 13, 2014, 03:39:23 AM
 #13

enlightened self interest often works... to me a lot of the other threads discussing this topic are too doomsday-prone

maybe some of the bigger VC's should devote some $$ to helping develop viable alternatives to this large miner pool

also, in a worst case , we do a fork

in other words, while the problem needs to be addressed, it is not the be all end all some are making it out to be

onwards and upwards!

Good ideas!

People love a good panic ... I'm sure half of them just want to cause panic selling and buy some cheap coins Wink
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