[CLOSING] GHash.IO mining pool official page

[bitpop]

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.

Why mine at all? Just hodl

[dmz241]

my hardware makes me a few like 0.00000200 a day but if I convert all of that to ghs I can make income of that to while btc will sit and do nothing. When I need to cash out I will trade back so I am secured. So holding is stupid I will let my income work for me then just sit in my wallet.

[eleuthria]

Rapid growth of GHash.IO mining pool, seen over the past few months, has been driven by our determination to offer innovative solutions within the Bitcoin ecosystem combined with significant investment in resource. Our investment, participation and highly motivated staff confirm it is our intention to help protect and grow the broad acceptance of Bitcoin and categorically in no way harm or damage it. We never have and never will participate in any 51% attack or double spend against Bitcoin. Still, we are against temporary solutions, which could repel a 51% threat.

In any market, competition and innovation drives growth and that is particularly true in an emerging and disruptive environment such as Bitcoin. Successful and innovative companies cannot be expected to limit their growth or competitiveness as a direct result of their success. However, this is the situation we find ourselves in when faced with the community perception of the threat of a 51% attack on Bitcoin. Asking our users to not use our services or to use competing solutions is not conducive to fostering innovation. Implementing a pool fee to our pool contradicts principles of our operation from the very launch of GHash.IO. It also does not address the core issue only pushing the problem a few weeks or months down the road when another pool or perhaps GHash.IO again grows towards 51%.

We do fully recognise the concerns and possible threat posed by an entity with malicious intent taking control of enough mining power to exploit the 51% scenario, but we also have confidence and agree with the views expressed by the Bitcoin Foundation that any such exploitation or attack ”would be obvious it was happening, and pretty easy to defend against. The transparent nature of the blockchain provides unprecedented insight for all to investigate and report such behaviours.

We also recognise however that a long term preventative solution to the threat of a 51% attack does have to be found, the current situation we find ourselves in (essentially being punished for our success) is damaging not only to us, but to the growth and acceptance of Bitcoin long term, which is something we are all striving for.

To that effect we are in the process of arranging contact to the leading mining pools and Bitcoin Foundation to propose a ‘round table’ meeting of the key players with the aim of discussing and negotiating collectively ways to address the decentralisation of mining as an industry. Our aim is to do this quickly with a possible date coinciding with the CoinSummit Conference in London.

Do the right thing, the same thing BTC Guild did in 2013, and limit your damn power.  Quit trying to pretend you're innovative in any way.  You knew going into this game that getting too big was an issue and now you're trying to sidestep your responsibilities.

BTW, claiming you want to do a round table meeting and then expecting other pool operators to fly to London to do a CLOSED MEETING about this issue is in no way a solution to the problem.

[dmz241]

its not them mining on the pool always. If you dont like it dont point your hardware to their pool

[ranochigo]

my hardware makes me a few like 0.00000200 a day but if I convert all of that to ghs I can make income of that to while btc will sit and do nothing. When I need to cash out I will trade back so I am secured. So holding is stupid I will let my income work for me then just sit in my wallet.

The price are not possible for ROI, unless you are so rich to throw away money to them, never expect to mine back the original amount.

[ernie-]

Do the right thing, the same thing BTC Guild did in 2013, and limit your damn power.  Quit trying to pretend you're innovative in any way.  You knew going into this game that getting too big was an issue and now you're trying to sidestep your responsibilities.

BTW, claiming you want to do a round table meeting and then expecting other pool operators to fly to London to do a CLOSED MEETING about this issue is in no way a solution to the problem.

When I look at the pool stats, https://blockchain.info/pools  ghash.io are 35% so where is this 51% problem supposed to be?

[Collider]

Other pools just need to step up their game and offer merged mining of atleast NMC for 0% fee.

As of today, gh.io is one of the best pools and therefore have the most miners.

p2pool is always nice too nad it supports the basic bitcoin idea, by further decentralizing the network.

[ranochigo]

Other pools just need to step up their game and offer merged mining of atleast NMC for 0% fee.

As of today, gh.io is one of the best pools and therefore have the most miners.

p2pool is always nice too nad it supports the basic bitcoin idea, by further decentralizing the network.

P2pool would not get blocks as frequently as those bigger pools. Pools need a fee to ensure that it can pay for the web hosting and server hosting and even ddos protection. The reason Ghash.io is able to achieve 0% fees is probably because they trade GHS and includes a trading fees there and also they might charge a higher maintenance fees for those hosted Hash power. This can be costly and most smaller pools simply cannot afford this.

[Bitsaurus]

Other pools just need to step up their game and offer merged mining of atleast NMC for 0% fee.

As of today, gh.io is one of the best pools and therefore have the most miners.

p2pool is always nice too nad it supports the basic bitcoin idea, by further decentralizing the network.

You do realize that in the top 7 pools the majority have been doing merged mining before Ghash.IO/CEX.IO even existed right?

[Collider]

Gh.io does merged mining of NMC, DVC, IXC, pays transaction fees and has no pool fees.

Cex allows easy trading of NMC and IXC into BTC.

All these factors support the popularity of GH.io and there is no other pool to match that.

[allcoinminer]

Gh.io does merged mining of NMC, DVC, IXC, pays transaction fees and has no pool fees.

Cex allows easy trading of NMC and IXC into BTC.

All these factors support the popularity of GH.io and there is no other pool to match that.

Thats somewhat true. But the main reason is their cex.

[organofcorti]

Gh.io does merged mining of NMC, DVC, IXC, pays transaction fees and has no pool fees.

Cex allows easy trading of NMC and IXC into BTC.

All these factors support the popularity of GH.io and there is no other pool to match that.

How do you think they can offer fee-free mining? How is it paid for?

[bitpop]

Gh.io does merged mining of NMC, DVC, IXC, pays transaction fees and has no pool fees.

Cex allows easy trading of NMC and IXC into BTC.

All these factors support the popularity of GH.io and there is no other pool to match that.

How do you think they can offer fee-free mining? How is it paid for?

The losers above

[flound1129]

Other pools just need to step up their game and offer merged mining of atleast NMC for 0% fee.

As of today, gh.io is one of the best pools and therefore have the most miners.

p2pool is always nice too nad it supports the basic bitcoin idea, by further decentralizing the network.

It's not reasonable to expect a pool operator to take a 0% fee.  Pools are not charities.  There are real expenses and work involved in running one.

Ghash's pool is a loss leader (http://en.wikipedia.org/wiki/Loss_leader).  It works out well for them because it brings in miners to smooth their variance, and brings more coin into their system which people might use to trade or purchase ghash.  Not everyone can use this business model.

Eligius is 0% but survives on donations, and the NMC, I believe, that some users do not care about.  This is also why they are able to pay out 105% on NMC.  Every other major pool charges a fee.

[xstr8guy]

Who are these people that are worried about paying 1 or 2% fees to a pool?! And when you mine on Eligius, I bet you don't make a donation either.

Do you not leave tips at restaurants too?

Stable, reliable, TRUSTABLE pools provide a needed service. Pay them!

[nottm28]

Who are these people that are worried about paying 1 or 2% fees to a pool?! And when you mine on Eligius, I bet you don't make a donation either.

Do you not leave tips at restaurants too?

Stable, reliable, TRUSTABLE pools provide a needed service. Pay them!

Some people (me) leave a tip at restaurants only if the service is good. Other pools need to give a 'good feeling' when we mine with them. I'm not sure I get that good feeling at the moment... And before anyone [e.g bitpop the depressed] jumps down my throat - I don't mine at ghash...

[nottm28]

Gh.io does merged mining of NMC, DVC, IXC, pays transaction fees and has no pool fees.

Cex allows easy trading of NMC and IXC into BTC.

All these factors support the popularity of GH.io and there is no other pool to match that.

How do you think they can offer fee-free mining? How is it paid for?

You can't post such an open question without telling us how you think it works ogofti...

[organofcorti]

Gh.io does merged mining of NMC, DVC, IXC, pays transaction fees and has no pool fees.

Cex allows easy trading of NMC and IXC into BTC.

All these factors support the popularity of GH.io and there is no other pool to match that.

How do you think they can offer fee-free mining? How is it paid for?

You can't post such an open question without telling us how you think it works ogofti...

I'm not completely sure, although flound1129 brings up some good points. Regardless, a business is not going to be successful if it doesn't make money. If you're not paying an open fee at a pool then the pool is either making money from you some other way or is subsisting on donations.

[nottm28]

Gh.io does merged mining of NMC, DVC, IXC, pays transaction fees and has no pool fees.

Cex allows easy trading of NMC and IXC into BTC.

All these factors support the popularity of GH.io and there is no other pool to match that.

How do you think they can offer fee-free mining? How is it paid for?

You can't post such an open question without telling us how you think it works ogofti...

I'm not completely sure, although flound1129 brings up some good points. Regardless, a business is not going to be successful if it doesn't make money. If you're not paying an open fee at a pool then the pool is either making money from you some other way or is subsisting on donations.

I thought maybe the transaction fees from trading?

[DrG]

No other pool operates like GHash.IO.  I'm fine with them selling the hash to cluless buyers or people who just like to buy and flip.  The lack of self control as they approach or surpass 51% is what is disgusting.  Clearly there are enough mindless zombies in the BTC community to push them over 51%.  That does not mean that the owners should say it's not our fault we're successful...