[CLOSING] GHash.IO mining pool official page

[BCwinning]

and back to 42ph/s that didn't even last 24 hrs.

[1715506789]

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[nottm28]

and back to 42ph/s that didn't even last 24 hrs.

Damn ghash - I'm a fan - you must know this is bad for bitcoin...

[jamesg]

and back to 42ph/s that didn't even last 24 hrs.

Who ever was solo mining looks to not like it... 

Hopefully ghash.io is willing to help us understand what is going on.

[xandriel]

Why not look at it from another angle...
If ghash.io is so successful because it has 0% fees, and low variance on payments, why don't other pools try to lure miners with similar offers?
Or instead of posting expletives about ghash.io, people could better invest their time by promoting other pools, and aim for an equilibrium.

However, in my opinion, ghash.io are correct that the 51% problem must be resolved for BTC to survive in the long run...otherwise some improved coin will replace it eventually if it is to remain decentralised.

[organofcorti]

Why not look at it from another angle...
If ghash.io is so successful because it has 0% fees, and low variance on payments, why don't other pools try to lure miners with similar offers?
Or instead of posting expletives about ghash.io, people could better invest their time by promoting other pools, and aim for an equilibrium.

However, in my opinion, ghash.io are correct that the 51% problem must be resolved for BTC to survive in the long run...otherwise some improved coin will replace it eventually if it is to remain decentralised.

In order to do the same thing, other pools would need to be able to pay for the loss of the fee the same way ghash does - by doing their own mining with discounted equipment paid for by people wanting cloud mining. Not all pools will be able to do this.

[bitpop]

Why not look at it from another angle...
If ghash.io is so successful because it has 0% fees, and low variance on payments, why don't other pools try to lure miners with similar offers?
Or instead of posting expletives about ghash.io, people could better invest their time by promoting other pools, and aim for an equilibrium.

However, in my opinion, ghash.io are correct that the 51% problem must be resolved for BTC to survive in the long run...otherwise some improved coin will replace it eventually if it is to remain decentralised.

In order to do the same thing, other pools would need to be able to pay for the loss of the fee the same way ghash does - by doing their own mining with discounted equipment paid for by people wanting cloud mining. Not all pools will be able to do this.

You mean scam people with overpriced shit that will never break even and is only useful for trading

[organofcorti]

Why not look at it from another angle...
If ghash.io is so successful because it has 0% fees, and low variance on payments, why don't other pools try to lure miners with similar offers?
Or instead of posting expletives about ghash.io, people could better invest their time by promoting other pools, and aim for an equilibrium.

However, in my opinion, ghash.io are correct that the 51% problem must be resolved for BTC to survive in the long run...otherwise some improved coin will replace it eventually if it is to remain decentralised.

In order to do the same thing, other pools would need to be able to pay for the loss of the fee the same way ghash does - by doing their own mining with discounted equipment paid for by people wanting cloud mining. Not all pools will be able to do this.

You mean scam people with overpriced shit that will never break even and is only useful for trading

Uh, yeah, I suppose.

Jezz, bitpop you've become bitter lately.

[allcoinminer]

If I understand this text correctly, there is one way out:

ghash.io can raise its fees.

As a consequence, they will loose miners. That's good for bitcoin.

If ghash.io raise their fees in the same amount as people migrate away, they still earn the same amount of money for themselves.

---

oh, just checked. ghash.io has 0% fees.

What is their revenue stream then? Do they live on donations only?
Or is their main goal market dominance, and they operate on a minus simply to dominate bitcoin?

---

I think they should introduce pool fees (and if only 0.1% as a start) to drive some miners away to other pools.

As said before, if they dynamically balance those fees with lost participants ... for them it makes no difference.

But bitcoin as such would win.

---

http://www.reddit.com/r/Bitcoin/comments/2828s9/i_own_a_large_mining_operation_ill_explain_why_i/ci974i6

Txn Fee and Left off BTC after payout is not a small amount.

I know some of my friends running pools for alts. They charge 1% fee but they get more revenue from leftover coins after payout. That's not a small figure.

[dmz241]

I dont get you guys. Ghash has only 37% of market share even back then it was around 35 when people dossed it. It just got lucky on 2 occasions where the success rate of finding a block hit 51% once and 49% once in the same week. They do not have 51% of the total hash rate. Explain to me this when Bitcoin came into existence most people the first few people to know about it could have easily reached 51% and the problem should have been bought forward at that time and fixed. If it didnt happen then how can it happen now?

[bitpop]

Let's keep ddosing and selfish mining

Because of some of you scum, I have to waste my Bitcoin and mining on this, protecting your dumbasses from yourself

I hope your weak hands lose all your Bitcoin

[allcoinminer]

I dont get you guys. Ghash has only 37% of market share even back then it was around 35 when people dossed it. It just got lucky on 2 occasions where the success rate of finding a block hit 51% once and 49% once in the same week. They do not have 51% of the total hash rate. Explain to me this when Bitcoin came into existence most people the first few people to know about it could have easily reached 51% and the problem should have been bought forward at that time and fixed. If it didnt happen then how can it happen now?

Regarding your last line, its not happened since now will not be a reason for not to happen in the future.

[murdof]

I dont get you guys. Ghash has only 37% of market share even back then it was around 35 when people dossed it. It just got lucky on 2 occasions where the success rate of finding a block hit 51% once and 49% once in the same week. They do not have 51% of the total hash rate. Explain to me this when Bitcoin came into existence most people the first few people to know about it could have easily reached 51% and the problem should have been bought forward at that time and fixed. If it didnt happen then how can it happen now?

have a look at: https://blockchain.info/pools

31% Ghash - 27% Unknown

BTCGuild has already mentioned that they have some private pools for "big" players.

If we say that this is a 2-3% then you still have another 23% that it's not possible to be small solo miners.
That would be mean that approximately 1/4 miners are solo-mining which I find impossible.

So yes people claim that Ghash is "hidding" their real pool % by hidding some datacenters into this "unknown" part.

So all pools have to be less than 51% by taking into account the "unknown part".

[lowbander80]

for sure there  is no regulation at all specially when around 40 blocks solved daily
make the calculation 40 x 25 = 1000 btc daily by 450 euro each make its 450.000 euros
DAILY and no regulation
Its money we are talking

[ranochigo]

Was kinda scary.

[allcoinminer]

[imghttps://i.imgur.com/J9YKeQM.png[/img]
Was kinda scary.

If you look at Ghash website stats now you will be more scared.

[ernie-]

The GHS you can buy on the cex.io exchange which are delivered by ghash.io has an unsustainable fee model. Currently it's $0.26 per GHS per month. That works out to about 38% of your theoretical BTC income at the current difficulty level, a couple more diff increases and it will be well over 50% fees, and people will start to move off looking for cheaper alternatives this will limit the expansion of the ghash.io cloud mining operation. It does take people a while to notice their low income from the cloud mining though.

[Majixagi]

People will move off? It's already a losing prospect and no one that has any sense at all is buying there to profit from mining. The only profit there comes from playing the volatility in the prices. Heck, I think PBMining is a ponzi, but I'd rather buy with them than cex at this point.

People aren't going to move off until they see sustained negative returns. In other words, maintenance fees higher than mining rewards. Even then some people there are going to be ignorant of it. That place is filled with idiots and the current end game there is for it all to come crashing down hard at some point far in the future. At that point CEX themselves will own most of the hash power shares anyway since they will be buying back in order to artificially inflate the price. Don't have any coin with them when that happens. It will be messy.

[ernie-]

People will move off? It's already a losing prospect and no one that has any sense at all is buying there to profit from mining. The only profit there comes from playing the volatility in the prices. Heck, I think PBMining is a ponzi, but I'd rather buy with them than cex at this point.

People aren't going to move off until they see sustained negative returns. In other words, maintenance fees higher than mining rewards. Even then some people there are going to be ignorant of it. That place is filled with idiots and the current end game there is for it all to come crashing down hard at some point far in the future. At that point CEX themselves will own most of the hash power shares anyway since they will be buying back in order to artificially inflate the price. Don't have any coin with them when that happens. It will be messy.

It's obviously not a loosing proposition yet, however if the fess don't drop it will happen sooner. The cost per GH/s of mining hardware has been dropping and the power efficiencies are getting better, otherwise diff increases would be getting smaller, but the lower cost per GH/s is not being passed on to the customers.

[bitpop]

Glad to see ghash users lose money

Weak hands lose Bitcoin

[dmz241]

Actually we dont lose money we dont make that much with maintenance. But moving from there is difficult I dont have much ghs in cloud there but about 2 usb antminer u2. While just waiting for you to collect enough btc to move to other sites it makes no sense. This way we make some money while we wait for it to build up. I want to get to 20Ghs cloud before I move from there. I am liking other sites too now.