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Author Topic: Is Bitcoin about to be 51%ed???  (Read 4836 times)
flipme
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June 08, 2014, 06:17:22 PM
 #1

This is serious shit going down.
http://newsbtc.com/2014/06/08/bitcoin-community-abuzz-ghash-ios-uncomfortably-high-hashrate/

Ghash.io at 47% hashrate for the last 24 hours.
Currently between 39-42%.

Just knock off one of the other big pools and its FORKING TIME.

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Gyrsur
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#BEL+++


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June 08, 2014, 06:23:01 PM
 #2

*holy shit*


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June 08, 2014, 06:28:45 PM
 #3

Um, it's currently between 39-42% on ghash...you may want to update your post.

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flipme
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June 08, 2014, 06:36:41 PM
 #4

Um, it's currently between 39-42% on ghash...you may want to update your post.

Is it better now?

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wubba lubba dub dub


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June 09, 2014, 04:23:06 AM
 #5

http://www.reddit.com/r/Bitcoin/comments/279sex/ghashio_double_spending/

here is the suggestion that it has been multiple times -

by colluding with other players , this makes perfect "Nash" sense.

tiny rick !
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June 09, 2014, 09:47:08 AM
 #6

Very likely and its time to invest in some altcoin Smiley

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June 09, 2014, 09:49:50 AM
 #7

Ghash.io did turn off 'some' hashes to lower their network %.

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June 09, 2014, 09:54:14 AM
 #8

there are others attack that don't require 51%, but they are not 100% guaranteed to work, less strong than 51% of course
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June 09, 2014, 10:00:48 AM
 #9

Did I hear anything about decentralized mining?

Myriadcoin is here to fix that

https://bitcointalk.org/index.php?topic=483515.0

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June 09, 2014, 11:15:27 AM
 #10

http://www.reddit.com/r/Bitcoin/comments/279sex/ghashio_double_spending/

here is the suggestion that it has been multiple times -

by colluding with other players , this makes perfect "Nash" sense.

Thats a very nice facetted discussion on reddit.
I personally believe they already control more than 51%.
The implications of a double spend are minor, just to distract.

Such a stunt, such a FUD situation would create a win win short selling opportunity for which big player?
The leverage would be stellar, they could multiply their holdings in a couple of hours.

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flipme
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June 10, 2014, 09:01:57 AM
 #11

Not over. At 43% now again!
https://blockchain.info/pools?timespan=24hrs

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June 10, 2014, 09:26:11 AM
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Think twice. It not in their interest to attack bitcoin. Millions worth of hashpower they own, they will do everything to protect against 51% attack. Why are you affraid?

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flipme
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June 10, 2014, 09:33:27 AM
 #13


Think twice. It not in their interest to attack bitcoin. Millions worth of hashpower they own, they will do everything to protect against 51% attack. Why are you affraid?

45% and rising. If it forks, price will drop like a turd, no doubt about that.
It would be in anybodies interest who is short the market.
And I'm not afraid, I'm actually looking forward to it.

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noelmal
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June 10, 2014, 09:44:11 AM
 #14

bitcoin will be 69'd before its 51'd   Kiss
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June 10, 2014, 10:23:25 AM
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Think twice. It not in their interest to attack bitcoin. Millions worth of hashpower they own, they will do everything to protect against 51% attack. Why are you affraid?

45% and rising. If it forks, price will drop like a turd, no doubt about that.
It would be in anybodies interest who is short the market.
And I'm not afraid, I'm actually looking forward to it.

I think you wait for something that will not happen. They had close to 51% multiple times before...


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Satoshi is rolling in his grave. #bitcoin


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June 10, 2014, 10:38:28 AM
 #16

*holy shit*




hahah that picture allways makes me laugh, alot of truth in there
but srsly, ghash.io has an awesome pool, but due to their insane growth, they should really make more servers, so that , even tho hash is with them, stays diversified, and prevents forking.
after all the bad news this year, we realy dont need a fork

flipme
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June 10, 2014, 10:44:21 AM
 #17

Maybe not, but maybe yes. Murphy is watching you.
Anyway, it doesn't really fit my understanding of a secure blockchain any longer.
BTC's decentralized system is broken for a long time.
If it happens BTC will loose a leg of it's throne. An avalanche will be triggered.


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June 10, 2014, 11:28:59 AM
 #18

These scare threads are stupid. "HURR DURR POOL HAS 51% OF MINING POWR" What are they going to do? It's not like miners will continue to support that 51% after an attack. The pool would be finished. There is no incentive whatsoever for a pool such as GHash.io to attack the Bitcoin network.
flipme
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June 10, 2014, 11:32:17 AM
 #19

These scare threads are stupid. "HURR DURR POOL HAS 51% OF MINING POWR" What are they going to do? It's not like miners will continue to support that 51% after an attack. The pool would be finished. There is no incentive whatsoever for a pool such as GHash.io to attack the Bitcoin network.

Dude, do you know who runs ghash.io and who owns it?
Check that out and come back later.

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TTM


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June 10, 2014, 11:39:43 AM
 #20

Hardware mining is fail. Use NXT.
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