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Author Topic: [POOL] --- Coinotron --- RavenCoin PPS: 1.5% ----- PPLNS, RBPPS: 0% ---------  (Read 294417 times)
FreeJack2k2
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May 20, 2014, 12:14:54 AM
 #1281

Yeah, why? You cant stop anybody to mine on coinotron, that is the problem. Few miners should migrate on other pools.

If you care about the health of the Litecoin network and you see how irresponsibly Coinotron is handling itself as a major pool operator, you should feel very motivated to switch to one of the many other great pools (many with NO FEES) and leave this clown show behind.

Any pool that will allow itself to get 51% of the network hashrate of a coin without doing something to stop it early is NOT a pool that anyone should support, whatsoever.
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According to NIST and ECRYPT II, the cryptographic algorithms used in Bitcoin are expected to be strong until at least 2030. (After that, it will not be too difficult to transition to different algorithms.)
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May 20, 2014, 12:35:36 AM
 #1282

I care about LTC but i dont mine it for some time.
I'm mining something else on Coinotron.

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May 20, 2014, 12:40:55 AM
 #1283

I made this post on reddit, and have also posted in the litecointalk forums as well.

http://www.reddit.com/r/litecoin/comments/25zkw3/coinotron_hits_51_and_they_arent_taking_it/


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Hello fellow Litecoiners,

In wake of coinotron getting to %51 of the network hash rate I am taking drastic actions and I implore you to help, this is what you can do.

1. Upvote this so others can see
2. Help me scrub their name from every site you can, this can at least prevent people from seeing this and think its ok to join them.
3. If you mine with them, leave immediately and join another pool, preferably a P2Pool.

Follow me on twitter https://twitter.com/TheRealMage for Litecoin and Litecoin Association news!
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May 20, 2014, 08:32:34 AM
 #1284

to be fair as a pool op myself. i do think you guys are being harsh on him. The best solution for coinotron to do is to massively up the fees. This would stop people from mining on there making the hashrate fall near instantly. (Ive been in that situation on various alts and that was the only solution that worked)

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coinotron
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May 20, 2014, 03:10:07 PM
Last edit: May 20, 2014, 05:28:08 PM by coinotron
 #1285

to be fair as a pool op myself. i do think you guys are being harsh on him. The best solution for coinotron to do is to massively up the fees. This would stop people from mining on there making the hashrate fall near instantly. (Ive been in that situation on various alts and that was the only solution that worked)

My situation is quite different. Currently there are 2-3 big miners on Coinotron. Right now I'm talking to the biggest one. He promised to switch part of his hashrate either to doge pool or to other LTC pools in few hours. My goal is to bring down Coinotron's hashrate to about 40% which should be win-win solution for my pool and network security.

FreeJack2k2
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May 20, 2014, 04:19:00 PM
Last edit: May 20, 2014, 07:28:41 PM by FreeJack2k2
 #1286

to be fair as a pool op myself. i do think you guys are being harsh on him. The best solution for coinotron to do is to massively up the fees. This would stop people from mining on there making the hashrate fall near instantly. (Ive been in that situation on various alts and that was the only solution that worked)

My situation is quite different. Currently there are 2-3 big miners atm on Coinotron. Right now I'm talking to the biggest one. He promised to switch part of his hashrate either to doge pool or to other LTC pools in few hours. My goal is to bring down Coinotron's hashrate to about 40% which should be win-win solution for my pool and network security.

The thing is, most of these users are not going to budge unless you do something, because they will all just sit on their hands waiting for "the other guy" to move to another pool. People are complacent.

Your pool is STILL at 51% so your "kind requests" are falling on deaf ears. Those users are splitting their hashrate, all right...they're just doing it into other Coinotron accounts. They aren't leaving the Litecoin pool.

FIX IT.
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May 20, 2014, 09:35:49 PM
 #1287

to be fair as a pool op myself. i do think you guys are being harsh on him. The best solution for coinotron to do is to massively up the fees. This would stop people from mining on there making the hashrate fall near instantly. (Ive been in that situation on various alts and that was the only solution that worked)

My situation is quite different. Currently there are 2-3 big miners atm on Coinotron. Right now I'm talking to the biggest one. He promised to switch part of his hashrate either to doge pool or to other LTC pools in few hours. My goal is to bring down Coinotron's hashrate to about 40% which should be win-win solution for my pool and network security.

The thing is, most of these users are not going to budge unless you do something, because they will all just sit on their hands waiting for "the other guy" to move to another pool. People are complacent.

Your pool is STILL at 51% so your "kind requests" are falling on deaf ears. Those users are splitting their hashrate, all right...they're just doing it into other Coinotron accounts. They aren't leaving the Litecoin pool.

FIX IT.

I'm fixing it right now. But it is not so easy as you think.

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May 20, 2014, 09:45:27 PM
 #1288

I'm fixing it right now. But it is not so easy as you think.

Yes, it is...you just don't like the idea that you have to give up all that fee income. You have total control over who mines on your pool.

Right now, you are RAKING IN the fee income and I understand that you are not highly motivated to solve the issue, as a result. But the bad PR you are earning for Coinotron by dragging your feet is going to come back to haunt you as these ASIC systems start to proliferate outside of China and people have the name "Coinotron" burned into their heads as the pool NOT to support. That goodwill that you feel you've built since 2011 is evaporating, fast.

You have not even engaged a TEMPORARY halt to new registrations. You haven't even been willing to go THAT far. That's ridiculous.
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May 20, 2014, 10:33:46 PM
 #1289

I'm fixing it right now. But it is not so easy as you think.

Yes, it is...you just don't like the idea that you have to give up all that fee income. You have total control over who mines on your pool.

Right now, you are RAKING IN the fee income and I understand that you are not highly motivated to solve the issue, as a result. But the bad PR you are earning for Coinotron by dragging your feet is going to come back to haunt you as these ASIC systems start to proliferate outside of China and people have the name "Coinotron" burned into their heads as the pool NOT to support. That goodwill that you feel you've built since 2011 is evaporating, fast.

You have not even engaged a TEMPORARY halt to new registrations. You haven't even been willing to go THAT far. That's ridiculous.

Sadly I cannot halt new registrations without harming other pools ( DOGE, VTC, DRK etc.)
I'm doing my best, trying to convince big LTC miners to diverse their hashrate.
My only fault is that I didn't believe Coinotron will get 50% of LTC network.
Now I'm working, not sleeping.

FreeJack2k2
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May 20, 2014, 11:33:25 PM
Last edit: May 20, 2014, 11:44:51 PM by FreeJack2k2
 #1290

Sadly I cannot halt new registrations without harming other pools ( DOGE, VTC, DRK etc.)
I'm doing my best, trying to convince big LTC miners to diverse their hashrate.
My only fault is that I didn't believe Coinotron will get 50% of LTC network.
Now I'm working, not sleeping.

Right now, all anyone sees is that your actions are motivated primarily by greed. "I can't shut down new registrations for a few days, because I want more miners. I can't force the biggest miners to leave, because...I want their fees." You have a public relations problem, here. As for not believing Coinotron would get 50% of the network...how would you not believe that, when you were at 40%, then 45%...knowing that 90Mh/s ASICs are shipping? You should have a better finger on the pulse of Litecoin mining than that.
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May 20, 2014, 11:36:39 PM
 #1291

I'm fixing it right now. But it is not so easy as you think.

Yes, it is...you just don't like the idea that you have to give up all that fee income. You have total control over who mines on your pool.

Right now, you are RAKING IN the fee income and I understand that you are not highly motivated to solve the issue, as a result. But the bad PR you are earning for Coinotron by dragging your feet is going to come back to haunt you as these ASIC systems start to proliferate outside of China and people have the name "Coinotron" burned into their heads as the pool NOT to support. That goodwill that you feel you've built since 2011 is evaporating, fast.

You have not even engaged a TEMPORARY halt to new registrations. You haven't even been willing to go THAT far. That's ridiculous.

Sadly I cannot halt new registrations without harming other pools ( DOGE, VTC, DRK etc.)
I'm doing my best, trying to convince big LTC miners to diverse their hashrate.
My only fault is that I didn't believe Coinotron will get 50% of LTC network.
Now I'm working, not sleeping.

are you trying to ruin the LTC network?
coinotron
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May 20, 2014, 11:54:38 PM
 #1292

I'm fixing it right now. But it is not so easy as you think.

Yes, it is...you just don't like the idea that you have to give up all that fee income. You have total control over who mines on your pool.

Right now, you are RAKING IN the fee income and I understand that you are not highly motivated to solve the issue, as a result. But the bad PR you are earning for Coinotron by dragging your feet is going to come back to haunt you as these ASIC systems start to proliferate outside of China and people have the name "Coinotron" burned into their heads as the pool NOT to support. That goodwill that you feel you've built since 2011 is evaporating, fast.

You have not even engaged a TEMPORARY halt to new registrations. You haven't even been willing to go THAT far. That's ridiculous.

Sadly I cannot halt new registrations without harming other pools ( DOGE, VTC, DRK etc.)
I'm doing my best, trying to convince big LTC miners to diverse their hashrate.
My only fault is that I didn't believe Coinotron will get 50% of LTC network.
Now I'm working, not sleeping.

are you trying to ruin the LTC network?

No, I'm not trying to ruin LTC. It would be financial suicide !

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May 21, 2014, 12:15:02 AM
 #1293

Then correct it.  Now.

[Flipping my 13 MHs back on to an alt pool to help deal with this bullshit now...]
kebabman
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May 21, 2014, 01:06:08 AM
 #1294

Sad to see one persons greed threaten the whole network, I've moved my miners to GMC. Trying to resist the urge to dump my LTC.  Undecided
kingscrown
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May 21, 2014, 01:11:22 AM
 #1295

nice attack on LTC.. really.
convince the big miners? you could just lock their accounts.

also you should make 2 pools for LTC and spread them.

TheMage
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May 21, 2014, 02:47:13 AM
 #1296

Sad to see one persons greed threaten the whole network, I've moved my miners to GMC. Trying to resist the urge to dump my LTC.  Undecided


No reason to dump your LTC, the network will be fine. Even though this entire thing has been highly irresponsible.

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May 21, 2014, 02:49:24 AM
 #1297

Honestly, if you can't find a solution FAST to lower your LTC hashrate, you should just take the initiative and shut down your LTC pool and wait for people to put their miners elsewhere while you find a solution to stay at 40% of the total hashrate or less. The real question is, do you have the goodwill to lose some miner fees for now for the better sake of both LTC and your future LTC fee profits?

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lyth0s
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May 21, 2014, 02:59:46 AM
 #1298

Everyone that shares my concern about the near 51% network hashrate of LTC on coinotron can help me bump this thread so that people are more aware of what's going on, rather than having to look at page 60 something of this thread to see the discussion that is taking place.

Raise awareness:

https://bitcointalk.org/index.php?topic=618569.0

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May 21, 2014, 03:34:02 AM
 #1299

Would you guys consider adding LGD LegendaryCoin its scrypt algo, 10 Million max coins also available on cryptsy and bittrex. Mintpal coming soon.

ANN--> https://bitcointalk.org/index.php?topic=530175.0
bitcoinreactor
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May 21, 2014, 04:26:47 AM
 #1300

nice attack on LTC.. really.
convince the big miners? you could just lock their accounts.

also you should make 2 pools for LTC and spread them.

locking any miner account won't help, even based on the given account total hasrate : miners could just split their hashrate over multiple accounts, recreate them when they wish to.
IP-based bans are useless too, anyone can get dozens of new ip addresses at will nowadays.

The whole 50+ % thing isn't coinotron's fault at all, but THE MINER'S !

miners should be aware of what they're doing, regarding the mined coin...

miners could for example :

* setup their miner to switch to other pools at regular intervals
* setup a damn p2pool node locally and start mining there, either full time or using your miner app capability to cycle between pools automatically


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