WARNING: Potential 51% attack on Litecoin by GHash

[Daanlt]

Now they deleted my message and i cant post there anymore. Dont like the truth : (

Message:
At first you lower reward from 40-60 ghx - x1.25, now its 25-60ghx - 1.25x.
What next, 10-60ghx - x1.25 ?

[1715607064]

1715607064

[1715607064]

1715607064

[1715607064]

1715607064

[gamefixer]

Now they deleted my message and i cant post there anymore. Dont like the truth : (

Message:
At first you lower reward from 40-60 ghx - x1.25, now its 25-60ghx - 1.25x.
What next, 10-60ghx - x1.25 ?

Yeah, thats pretty shitty. I'm thinking about jumping ship and going back to the pool I came from.

[Kalizar]

Now they deleted my message and i cant post there anymore. Dont like the truth : (

Message:
At first you lower reward from 40-60 ghx - x1.25, now its 25-60ghx - 1.25x.
What next, 10-60ghx - x1.25 ?

Yeah, thats pretty shitty. I'm thinking about jumping ship and going back to the pool I came from.

Same here. The pool hash rate has been just over 25 GH for a while now. -_-

[muhhkuh]

Well they are not dumb and already got what they wanted, a lot of new registrations...

They keep the rate at 25-26GH/s to avoid the double rewards, the thing with the 51% is just a stupid excuse! Or why did they lower their rate from 40 to 25GH/s?
There is no point in doing so since they almost need 70GH/s for 51%. For me it's a nothing more than a scam!

Please avoid using GHash.io and cex.io after the promotion ends!

[murraypaul]

If one pool controls more then 50% of the network it can fake transaction because more then the half of the miners would validate the fake transaction. They could create any balance on there account they want. And the real value of the coin would drop to 0.

That is almost completely wrong
Miners cannot fake transactions or alter the balances of accounts.
What they can do is selectively decide which transactions to process.
The main risk of a 51% attack is the ability to reverse transactions by double-spending.

https://en.bitcoin.it/wiki/Weaknesses#Attacker_has_a_lot_of_computing_power

[Wipeout2097]

Fuck these scammers. Back to Darkcoin and it's low power usage ...

Edit: I guess for some of you guys 1.25x LTC is a good deal, since the pool has been above 25 Gh/s for almost 8 hours.

[Daanlt]

23.70 Gh/s - value 62.5025, not 100, what a scammers

[ghur]

ITT: Entitled brats bitching about getting only 25% free bonus coins instead of 100%.

Ghash owes you nothing. Stop acting like entitled jackasses.

[ErikvanBreen]

ITT: Entitled brats bitching about getting only 25% free bonus coins instead of 100%.

Ghash owes you nothing. Stop acting like entitled jackasses.

+1 instead of bitching please go somewhere else and stop crying about it

[Wipeout2097]

ITT: Entitled brats bitching about getting only 25% free bonus coins instead of 100%.

Ghash owes you nothing. Stop acting like entitled jackasses.

The issue for me, is also the lack of honesty that is becoming prevalent in this scene. People would understand if they said: "Sorry guys, we didn't predict the success of the campaign, we simply cannot afford 2x payout!". Instead they weasel out with feel-good bullshit, oh the protectors of the Litecoin network  

That said, I don't give a crap either way. If I want ~1.25x LTC, I load balance between Wafflepool and Clevermining, but I rather be on Darkcoin or Max and have 2/3rd of the power consumption and -15ºC on my cards.

[ghur]

The issue is also the lack of honesty that is becoming prevalent in this scene.

I used to somewhat care about that if it wasn't for the collective of this forum being.. well.. dumb.
There's a massive cry here calling GHash a scam over what objectively is just a promotion that grew much bigger than they were able to handle.

Yet obvious ponzi scams like PBMining get the benefit of the doubt.
I'm convinced the masses have forgot the meaning of scam and quite honestly deserve to lose their money in actual scams.

[superresistant]

Yeah I would totally dump my Litecoins if I had any.

[Wipeout2097]

The issue is also the lack of honesty that is becoming prevalent in this scene.

I used to somewhat care about that if it wasn't for the collective of this forum being.. well.. dumb.
There's a massive cry here calling GHash a scam over what objectively is just a promotion that grew much bigger than they were able to handle.

Yet obvious ponzi scams like PBMining get the benefit of the doubt.
I'm convinced the masses have forgot the meaning of scam and quite honestly deserve to lose their money in actual scams.

I don't even know what PBMining is, but regarding GHash yes it is a promotion. This promotion is to create long term loyalty to the pool, so it's for their best interest, they don't do this for you. So, I'm not sure why you say "Ghash owes you nothing...". Well, yeah, no shit they don't, but that isn't really the point.

If the promotion grew too big and they can't handle it, just be honest and say so.

Edit: oh, a profit pool is proxying into Ghash.io: https://bitcointalk.org/index.php?topic=433634.2420. What a charade.
Actually ghash is getting screwed, because obviously there's no loyalty here.

[ericisback]

Looks like the wheels are coming off at Ghash.io's LTC pool:

http://i650.photobucket.com/albums/uu229/ericisback1/photo-4.jpg

Not sure what the heck is going on.  My workers are filling up the shifts, but the block payouts are MESSED up

[ghur]

Looks like the wheels are coming off at Ghash.io's LTC pool:


Not sure what the heck is going on.  My workers are filling up the shifts, but the block payouts are MESSED up

It's broken. Support has been notified and they've escalated it up the chain.

[Rishodi]

It looks like GHash.io's litecoind (or equivalent) was desynced from the rest of the Litecoin network for a few hours. GHash.io was continually trying to solve block #531801 because, for whatever reason, it had not received the dozens of blocks which had been found by the network since that one.

The situation appears to have been resolved now, since a few minutes ago Ghash.io found block #531891.

[tuner]

just a reminder, don't forget to leave this pool, since promo is over, let them have their 'medicine' for lying and changing terms as they wanted.

PS, tried to withdraw mined litecoins from them, after 3 hours they haven't arrived yet..

[gamefixer]

I left the second day in. Pretty lame bait and switch move they pulled. 

[Kalizar]

Haha, they lost 3/4 of their miners almost instantly after the promotion ended.

[gamefixer]

Haha, they lost 3/4 of their miners almost instantly after the promotion ended.

If they weren't so deceitful with the promotion to begin with I think a lot of people would have stayed, I know I would have. They had to know that doubling payouts was going to attract a lot of attention so they should have planned better.