Who the hell is still mining on GHash.IO? GTFO that pool already!!!

It's been hovering 47-48% for the last 24 hours:

https://blockchain.info/pools?timespan=24hrs

Do we really trust GHash.IO/CEX.IO that much that they wouldn't just start double spending like crazy and causing all sorts of stability issues for the Bitcoin network?

Even if they weren't trying a 51% attack, why would any miner personally go on there knowing the risk to the network?

Must be a bunch of Noobs going to the biggest pool with the 0% fees, not knowing the consequences this can cause.

For chrissakes go to any of these other pools:

https://bitcointalk.org/index.php?topic=104664.0

ANYTHING BUT GHASH.IO

It's kind of like saving the environment or voting - no one wants to make a move when it disadvantages them and makes no noticeable difference in the end.

Try www.coinking.io, seems to be paying more then mining BTC directly (only if you are mining with GPU).

People are sucked in by ghash's 0% fee deal.
Too many of them do not think twice.
They also think the lower variance means ghash is better.
I totally agree people need to leave there and never go back.
The risk is too great.

A sign that intelligence is not required to have power or wealth.

The fact that Ghash.IO does nothing about it and scares the community shows how apathetic they are for the community's concern. May their servers suffer a thousand EMPs Grin

Quote from: DrG on June 11, 2014, 02:02:16 AM

This exactly. I remember a couple months ago they said they'd "implement a feature to allow users to mine at different pools"

*crickets chirp*

Well I guess they're just trying to fulfill the requirement that BTC have some crisis at all times. Mt Gox invalid papers, BTC fork, China bans BTC, Russia bans BTC, MT Gox hands away their customer's funds, Mt Gox blames BTC devs for critical flaw, GHash.IO decides 51% attack (the 2nd time) is not so bad.

Well I guess some peeps are heeding the call. Down to 43% in the last 24 hours, though we really need GHash.io to be ideally below a third of the hashrate to be truly safe.

Quote from: ChuckBuck on June 11, 2014, 01:38:04 PM

Well I guess some peeps are heeding the call. Down to 43% in the last 24 hours, though we really need GHash.io to be ideally below a third of the hashrate to be truly safe.

Any idea how much hashrate on Ghash.io is from their own private farm now?

Quote from: Shogen on June 11, 2014, 02:39:58 PM

Quote from: ChuckBuck on June 11, 2014, 01:38:04 PM

Well I guess some peeps are heeding the call. Down to 43% in the last 24 hours, though we really need GHash.io to be ideally below a third of the hashrate to be truly safe.

Any idea how much hashrate on Ghash.io is from their own private farm now?

Not sure their personal farm breakdown, but in total they have almost 40 PH based on Organofcorti.blogspot.com.

Mining on this pool is like taking a shit in your own water reservoir. A little don't matter but pile it on and you'll be killing yourself.

Are you blaming them because of insolvency or something like that or are you just affraid that they will abuse their powers?

Quote from: DubFX on June 11, 2014, 07:37:16 PM

Are you blaming them because of insolvency or something like that or are you just affraid that they will abuse their powers?

They have abused their powers. They have been caught double spending by their admins before and they stated they knew nothing about it, then they recanted and said it wasn't a big deal. That alone proves they're willing to lie to the community.

The fact that at least 1/4 of the community is worried about their centralization and they have not taken any good faith efforts to control this (unlike BTCGuild who actually throttled their own growth) shows their arrogant assholes.

I'm surprised there hasn't been a massive DDoS...

This is getting serious and the miners don't understand if Bitcoin goes down everything they had mined will be worth nothing together with their out of pocket investment(ASIC, GPU, ETC). Come on let's make bitcoin better and stable by doing the right thing. At this point miners at that pool are as guilty as GHASH or probably more.

Down to 39%, but I won't entirely feel safe until they're closer to 30%:

https://blockchain.info/pools?timespan=24hrs

At least either the pool operators themselves are reacting to the outrage, or some miners are wising up.

Probably a combination of both. We must all remain vigilant though. Keep reminding our fellow miners, and if you see anyone in this forum post stats or references to GHash, please ask them kindly to GTFO there. Cool

Quote from: ChuckBuck on June 11, 2014, 10:44:04 PM

Emphasis on kindly! Cheesy

It's great to see the community actually heeding the call.

Its par for the course I figure, a natural economy will periodically destroy itself. In capitalism its supposed to be the most unproductive elements become redundant (so its positive progression). Call it stupidity but its probably right in line that this kind of thing happens, its more accurate to say positive feedback where a situation is inclined towards failure by its own success.

This is why the FED exists they will tell you, to stop boom and bust cycles, to counter natural failure. So these giant pools are tending towards bust by their own (over)success and its normal? BTC needs a firebreak of some kind to stop that situation

http://en.wikipedia.org/wiki/Creative_destruction

And just like that GHash.IO is at it again. Up to 44% rather quickly today:

https://blockchain.info/pools?timespan=24hrs

This madness must stop somehow, they're out of control...

wtf do people continue to believe those %'s?

you seriously think they're tagging all their blocks?

not all of it is on a public pool

I know they've been having issues over the last couple days. Not sure how much of it is "irritate the users til they leave" or if they're trying to shift some of their server farm somewhere else (private pool perhaps?) ... or maybe they just don't care. I recently sold my GHS to help fund a new S2, but til the pool shrinks a bit I've been on eligius with my s1's.