ChuckBuck (OP)
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June 10, 2014, 10:20:31 PM |
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It's been hovering 47-48% for the last 24 hours: https://blockchain.info/pools?timespan=24hrsDo 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=104664.0ANYTHING BUT GHASH.IO
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SgtSpike
Legendary
Offline
Activity: 1400
Merit: 1005
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June 10, 2014, 10:24:22 PM |
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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.
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LightningBlade
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June 10, 2014, 11:59:51 PM Last edit: June 11, 2014, 12:18:42 AM by LightningBlade |
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Try www.coinking.io, seems to be paying more then mining BTC directly (only if you are mining with GPU).
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ManeBjorn
Legendary
Offline
Activity: 1288
Merit: 1004
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June 11, 2014, 01:57:02 AM |
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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.
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DrG
Legendary
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Activity: 2086
Merit: 1035
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June 11, 2014, 02:02:16 AM |
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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
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guitarplinker
Legendary
Offline
Activity: 1694
Merit: 1024
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June 11, 2014, 02:40:07 AM |
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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 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*
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DrG
Legendary
Offline
Activity: 2086
Merit: 1035
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June 11, 2014, 04:24:47 AM |
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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.
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ChuckBuck (OP)
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June 11, 2014, 01:38:04 PM |
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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.
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Shogen
Legendary
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Activity: 966
Merit: 1001
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June 11, 2014, 02:39:58 PM |
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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?
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ChuckBuck (OP)
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June 11, 2014, 03:06:07 PM |
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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.
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Bitsaurus
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June 11, 2014, 07:35:22 PM |
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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.
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DubFX
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June 11, 2014, 07:37:16 PM |
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Are you blaming them because of insolvency or something like that or are you just affraid that they will abuse their powers?
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Bitsaurus
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June 11, 2014, 07:41:27 PM |
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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...
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gperez2000
Newbie
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Activity: 22
Merit: 0
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June 11, 2014, 10:35:40 PM |
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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.
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ChuckBuck (OP)
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June 11, 2014, 10:44:04 PM |
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Down to 39%, but I won't entirely feel safe until they're closer to 30%: https://blockchain.info/pools?timespan=24hrsAt 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.
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smeagol
Legendary
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Activity: 1008
Merit: 1005
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June 11, 2014, 10:51:41 PM |
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Down to 39%, but I won't entirely feel safe until they're closer to 30%: https://blockchain.info/pools?timespan=24hrsAt 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. Emphasis on kindly! It's great to see the community actually heeding the call.
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STT
Legendary
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Activity: 4046
Merit: 1448
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June 12, 2014, 02:09:08 AM |
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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
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zvs
Legendary
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https://web.archive.org/web/*/nogleg.com
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June 12, 2014, 04:08:59 PM |
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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
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FordPrefect
Newbie
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Activity: 22
Merit: 0
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June 12, 2014, 04:15:19 PM |
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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.
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