Bitcoin Forum
October 20, 2017, 11:18:22 AM *
News: Latest stable version of Bitcoin Core: 0.15.0.1  [Torrent]. (New!)
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Are mining pools the weakness of all mineable coins ?  (Read 1197 times)
samsss
Member
**
Offline Offline

Activity: 77


View Profile
February 08, 2014, 01:05:36 AM
 #1

just started mining a month ago,found out what a 51% attack is, and pools can go down easyly.I mined litecoin,memorycoin,doge,moon,vert,earthcoin,lottocoin.few big pools have most of the hash power.Lets say 3 biggest pools have 30% each.One goes down ,not a problem.what if 2 of the 3 go down
1508498302
Hero Member
*
Offline Offline

Posts: 1508498302

View Profile Personal Message (Offline)

Ignore
1508498302
Reply with quote  #2

1508498302
Report to moderator
1508498302
Hero Member
*
Offline Offline

Posts: 1508498302

View Profile Personal Message (Offline)

Ignore
1508498302
Reply with quote  #2

1508498302
Report to moderator
1508498302
Hero Member
*
Offline Offline

Posts: 1508498302

View Profile Personal Message (Offline)

Ignore
1508498302
Reply with quote  #2

1508498302
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1508498302
Hero Member
*
Offline Offline

Posts: 1508498302

View Profile Personal Message (Offline)

Ignore
1508498302
Reply with quote  #2

1508498302
Report to moderator
1508498302
Hero Member
*
Offline Offline

Posts: 1508498302

View Profile Personal Message (Offline)

Ignore
1508498302
Reply with quote  #2

1508498302
Report to moderator
1508498302
Hero Member
*
Offline Offline

Posts: 1508498302

View Profile Personal Message (Offline)

Ignore
1508498302
Reply with quote  #2

1508498302
Report to moderator
seriouscoin
Hero Member
*****
Offline Offline

Activity: 658


View Profile
February 08, 2014, 01:14:28 AM
 #2

NO

Stop making thread, Spend at least 2 months of reading and searching.

Kthnxbye
byt411
Hero Member
*****
Offline Offline

Activity: 798


View Profile
February 08, 2014, 01:22:37 AM
 #3

Stop spamming using your low intelligence and do research before you talk about something you don't even understand.
Pools don't go down that easily.
2Kool4Skewl
Sr. Member
****
Offline Offline

Activity: 392


Suretified Jeanius


View Profile
February 08, 2014, 08:05:45 AM
 #4

A pool going down won't 51% a coin, but anyone controlling 51% hashpower can 51% attack a PoW coin.

If you're concerned about the centralization of hashpower, pure PoS coins, like Nxt, aren't susceptible to 51% attacks.  Nxt is resistant up to 90% currency concentration.

cr1776
Legendary
*
Online Online

Activity: 1680


View Profile
February 08, 2014, 02:12:37 PM
 #5

Don't forget about p2pool.  You get many of the benefits of pool mining while helping to protect from a 51% attack.  And you should end up with more coins because of lower fees.
Sonny
Hero Member
*****
Offline Offline

Activity: 868


View Profile
February 10, 2014, 02:50:21 AM
 #6

just started mining a month ago,found out what a 51% attack is, and pools can go down easyly.I mined litecoin,memorycoin,doge,moon,vert,earthcoin,lottocoin.few big pools have most of the hash power.Lets say 3 biggest pools have 30% each.One goes down ,not a problem.what if 2 of the 3 go down

seems like you misunderstood "51% attack".....
It will be a problem if 2 of the 3 big pools "co-corporate" with each other and controls 60% of hashrate, but it will not be any 51% attack if 1/2/3 big pools go down....
byt411
Hero Member
*****
Offline Offline

Activity: 798


View Profile
February 10, 2014, 04:39:55 PM
 #7

just started mining a month ago,found out what a 51% attack is, and pools can go down easyly.I mined litecoin,memorycoin,doge,moon,vert,earthcoin,lottocoin.few big pools have most of the hash power.Lets say 3 biggest pools have 30% each.One goes down ,not a problem.what if 2 of the 3 go down

seems like you misunderstood "51% attack".....
It will be a problem if 2 of the 3 big pools "co-corporate" with each other and controls 60% of hashrate, but it will not be any 51% attack if 1/2/3 big pools go down....

The only possibility is like in this example:
4 pools control 25% of network hashrate each. 3 go down, which would mean that the pool left controls most or all of the hashrate.
Skinnkavaj
Sr. Member
****
Offline Offline

Activity: 469


English Motherfucker do you speak it ?


View Profile
February 10, 2014, 06:56:39 PM
 #8

Don't forget about p2pool.  You get many of the benefits of pool mining while helping to protect from a 51% attack.  And you should end up with more coins because of lower fees.
This

Sonny
Hero Member
*****
Offline Offline

Activity: 868


View Profile
February 12, 2014, 11:37:45 PM
 #9

Don't forget about p2pool.  You get many of the benefits of pool mining while helping to protect from a 51% attack.  And you should end up with more coins because of lower fees.
This

True.
The only problem with p2pool is that, you need to have decent hashrate, or the variance will be pretty high.
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!