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p2pbucks (OP)
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June 13, 2014, 12:57:43 AM
Last edit: June 13, 2014, 06:37:47 AM by p2pbucks |
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According to blockchain 24hr mining pool distribution chart , ghash has already reached 48% near 51% redline. Sure , 51% mining portion doesn't mean 51 attack . but market will be unstable & lose faith if ghash's mining power keep increasing miners should move their hash power to other smaller pools for both the market and their own interest.  |
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Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
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Cicero2.0
Member
 Offline
Activity: 98
Merit: 10
★☆★Bitin.io★☆★
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June 13, 2014, 01:02:01 AM |
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What does a "51 attack" accomplish? Can they use to steal coins or shut down the network ?
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bluemeanie1
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June 13, 2014, 01:05:34 AM |
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its really difficult to tell whats going on here. Clearly there is a concerted effort to spook this market down in BTC. why?
-bm
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solex
Legendary
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Activity: 1078
Merit: 1002
100 satoshis -> ISO code
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June 13, 2014, 01:08:32 AM |
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bluemeanie1
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June 13, 2014, 01:09:59 AM |
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ya it's really interesting. they keep running this lie about GHash. Also some of the other offbeat blogs making up nonsense about BTC. Someone is trying to keep the market down. -bm |
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p2pbucks (OP)
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June 13, 2014, 01:21:01 AM |
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 It's not real time chart https://blockchain.info/zh-cn/pools?timespan=24hrsGhash mined out 81 blocks in recent 24hrs reaches 48% portion , unless blockchain's statistics is wrong. to bluemeanie1 : lol ... I am not trying to keep market down . I just suggest miners should switch to other pools
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The_Gloomfrost
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Activity: 90
Merit: 10
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June 13, 2014, 01:22:18 AM |
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Does anyone not care about the long-term implications? This will only make other, smaller pools less competitive and less viable, until Ghash slowly takes over more and more share. Sure, 51% attack is a temporary disruption, but what about when they're at 78%?
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dwma
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June 13, 2014, 01:25:29 AM |
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This is why once POS has matured and shown to be stable we need to move BTC over to it. I don't think now is the right time, because POS and its variants are not tested. However down the road BTC really needs to get past the mining/pool crap.
How many specialized mining hardware manufacturers are there that haven't been scandalous in some regard ?
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OROBTC
Legendary
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Activity: 2912
Merit: 1852
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June 13, 2014, 01:40:13 AM |
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...
I mentioned this in another thread, that if the miners really care about GHash.IO reaching 50% +, then why don't Slush, Eligius, BTG Guild or Discus Fish make it easy and profitable for cloud-miners to join them? Easy cash for then to buy more equipment, GHash.IO then becomes less a (51%) threat.
Maybe comment (above) was correct, maybe it does not matter, that no one cares!
***
I have BTC I would like to invest in a cloud mining operation with a track record like the above four. And I would think there is plenty more BTC if even I am interested...
Make it easy and profitable, guys! Great customer service. Then you win.
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Littleshop
Legendary
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Activity: 1386
Merit: 1003
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June 13, 2014, 01:45:37 AM |
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Donate to P2P pool miners. Others will see the free coins and join. Already P2P pool has been more profitable for miners then other pools since the donation tool started: http://blisterpool.com/p2pdonate |
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solex
Legendary
Offline
Activity: 1078
Merit: 1002
100 satoshis -> ISO code
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June 13, 2014, 01:51:41 AM
Last edit: June 13, 2014, 02:07:25 AM by solex |
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It's not real time chart https://blockchain.info/zh-cn/pools?timespan=24hrsGhash mined out 81 blocks in recent 24hrs reaches 48% portion , unless blockchain's statistics is wrong. to bluemeanie1 : lol ... I am not trying to keep market down . I just suggest miners should switch to other pools blockchain's statistics for mining pools is always an approximation, because it counts who reported a block. Remember this is a distributed network where nodes communicate via other nodes. So a block found by "A" can be received by blockchain.info from "C" (because it went A->B->C->blockchain.info) So this 48% for ghash is ghash reporting more blocks than it finds because it is well connected in the network and receives some blocks before blockchain.info does. Also, spikes over 40% are possible for ghash because of variance (luck) in block solving. Any pool with 38% will occasionally see 40+% for short periods. kinlo has a site which is more accurate because he examines mining pool websites for reported blocks: http://blockorigin.pfoe.be/chart.phporganofcorti's blog is most accurate because he uses all clues such as payment addresses. He also reports 1 week periods which would highlight a sudden increase more quickly. Donate to P2P pool miners. Others will see the free coins and join. Already P2P pool has been more profitable for miners then other pools since the donation tool started: http://blisterpool.com/p2pdonateAbsolutely. It's better if p2pool is more attractive to miners for profits, and has improved software, which has a fund for donations too (see my sig). |
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Beliathon
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June 13, 2014, 02:06:11 AM |
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I don't care.
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fr33d0miz3r
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June 13, 2014, 02:24:26 AM |
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I don't care.
Coz you are f*cking greedy newbie. Meanwhile...  |
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BitcoinPLZ
Newbie
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Activity: 10
Merit: 0
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June 13, 2014, 02:27:11 AM |
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I care, in fact I think 51% problems and mining pool centralisation is one of the biggest and most important obstacles to Bitcoin's continued success.
I hope Ghash does get to 51% and starts doublespending like crazy, as someone with a significant stake in Bitcoin, because then we'll find out if this problem has a solution or not.
If it does, let's implement it, if not, better to know now than before Bitcoin gets bigger.
Sometimes it really does take a crisis before people take action.
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fr33d0miz3r
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June 13, 2014, 02:51:30 AM |
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BINGO! Welcome to the centralized payment network "Bitcoin", owned and operated by GHash Inc.  |
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ThePurplePlanet
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June 13, 2014, 03:07:51 AM |
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its really difficult to tell whats going on here. Clearly there is a concerted effort to spook this market down in BTC. why?
-bm
Shorting bitcoin maybe? |
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Ximp
Sr. Member
Offline
Activity: 336
Merit: 250
CS Student - BC Logo Guy
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June 13, 2014, 03:17:30 AM |
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A society or program can not function well for long if it relies on its participants to behave as angels. Bitcoin is inherently flawed in this regard, and must be either fixed or transitioned out.
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FrozenBit
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June 13, 2014, 03:23:05 AM |
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BINGO! Welcome to the centralized payment network "Bitcoin", owned and operated by GHash Inc. Do people not realize 51 is an expression and all you theoretically need is 50.000000000000000000000000000000000000000001%? They already have attack capable status. |
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jc01480
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June 13, 2014, 03:55:34 AM |
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Seems to explain the price drop. Can you guys knock it down to around $10 a coin for an hour or two? Preferably within the next few days...
Edit: I doubt Ghash is looking to put themselves out of business.
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fr33d0miz3r
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June 13, 2014, 03:56:17 AM |
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Seems to explain the price drop. Can you guys knock it down to around $10 a coin for an hour or two? Preferably within the next few days...
To $10? In 2 years for sure. |
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