manrus
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Activity: 1334
Merit: 1004
TTM
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June 13, 2014, 08:34:41 AM |
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How can this be possible! 50% now! Panic! Panic! Panic! SELL SELL SELL
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ljudotina
Legendary
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Activity: 1260
Merit: 1029
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June 13, 2014, 08:36:30 AM |
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You do realize that THAT happens all the time.
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Parazyd
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June 13, 2014, 08:40:24 AM |
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You do realize that THAT happens all the time. Yeah, but now they started paying attention.
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Labteck
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June 13, 2014, 08:48:56 AM |
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bitcoin is doomed.
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ljudotina
Legendary
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Activity: 1260
Merit: 1029
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June 13, 2014, 08:52:58 AM |
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bitcoin is doomed.
I already sold mine, and eposited into Australian bank where it will be safe for next few years....oh wait....
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TookDk
Legendary
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Activity: 1960
Merit: 1062
One coin to rule them all
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June 13, 2014, 08:56:14 AM |
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SELL SELL SELL (I need cheap bitcoin)
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Cryptography is one of the few things you can truly trust.
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ljudotina
Legendary
Offline
Activity: 1260
Merit: 1029
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June 13, 2014, 09:16:18 AM |
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SELL SELL SELL (I need cheap bitcoin)
Sorry, that boat sailed away i'm afraid....wait for next FBI BTC movement..it will happen again and ppl will be running like crazy again.
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fryarminer
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June 13, 2014, 09:40:53 AM |
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Well at least I can say that I have never mined on Ghash, BECAUSE they have always been the biggest pool. Since I care for bitcoin I haven't even looked at the incentives for mining there, and always mined on a smaller pool. At least for my part I am not responsible for this weak link or flaw in the bitcoin system. So yeah I care.
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Parazyd
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June 13, 2014, 09:42:25 AM |
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It's okay now. GHash seems to have temp-fixed it. Stuck at 49% now. So far so good, but they should still split it all into smaller independent pools because this is just too much.
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Malin Keshar
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June 13, 2014, 10:05:08 AM |
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Why people keep saying this doenS't matter :facepalm. They can get crazy, be bribed, or be hacked by someone that hates bitcoin, and everything will ruin. We should make effords to the point where no one could harm the network, no matter how this would be against their own interest. You know, sometimes people just goes nut, or get relaxed with digital security, and you know... It's okay now. GHash seems to have temp-fixed it. Stuck at 49% now. So far so good, but they should still split it all into smaller independent pools because this is just too much.
If they wanted to harm the network, they could buy lots of computers, let them off the net for a while, them connect all and start an atack. For me this is far from being "good".
Gbozo works in bank and earns millions. He sees some small change on his boss's desk and grabs it. Why? Maybe so he could prove he could do it. Genius!
Well, some mentally ill people do it, its called Kleptomania. And what if some bad guys from some black ops intelligence agency demanded you to take the "small change", or they would kill you and all your familly?
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TookDk
Legendary
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Activity: 1960
Merit: 1062
One coin to rule them all
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June 13, 2014, 11:28:43 AM |
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Well at least I can say that I have never mined on Ghash, BECAUSE they have always been the biggest pool. Since I care for bitcoin I haven't even looked at the incentives for mining there, and always mined on a smaller pool. At least for my part I am not responsible for this weak link or flaw in the bitcoin system. So yeah I care.
NO Not always... one and half year ago was BTCguild the biggest - at least they did something actively to reduce their size, I have much respect for that.
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Cryptography is one of the few things you can truly trust.
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franky1
Legendary
Online
Activity: 4340
Merit: 4667
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June 13, 2014, 11:29:31 AM |
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I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER. Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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johnyj
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Activity: 1988
Merit: 1012
Beyond Imagination
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June 13, 2014, 12:39:38 PM |
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Since double spend affect only transactions, merchant could require more confirmation (like one business day) to make double spend almost impossible
For hodlers, they could wait until P2Pool occupies more than 50% of hash power. In the following years, every bitcoin miner should switch to run P2Pool to make it stronger than 60% of the network hashing power and permanently dismiss this threat
The biggest problem for running P2Pool is its dedicated node requirement and not so user-friendly setup. But I think the migration will be the major improvement for bitcoin for the coming years
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DubFX
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June 13, 2014, 12:45:38 PM |
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You do realize that THAT happens all the time. Also this: "Double spends on this page may be unintentional. In the event that a double spend is maliciously crafted being listed on this page is no indication that it was successful or any merchant or user lost money as a result. "
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alani123
Legendary
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Activity: 2520
Merit: 1472
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June 13, 2014, 12:51:29 PM |
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Since double spend affect only transactions, merchant could require more confirmation (like one business day) to make double spend almost impossible.
All the merchants using bitcoin payment processors are already protected. I think that a double spend attack could only affect someone small that deals with a probably volume of transactions. Everyone with a large volume of transactions towards them has gone through the proccess to protect their payments againsts 0 confirmation transactions. ANd besides that, it's not that of an easy proccess to do a double spending attack.
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Illuminated
Newbie
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Activity: 11
Merit: 0
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June 13, 2014, 12:52:51 PM |
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weisoq
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June 13, 2014, 04:02:34 PM |
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I care, mostly because this was inevitable but any attempt to discuss it was shouted down or ignored until now because that meant admitting true decentralisation is nonsense. I can only think of two options and both amount to centralisation.
1) Admitting the natural equilibrium of mining concentration is greater than 50% because greed beats sensibilities. Which means trusting that central entity. 2) Technicalities are changed by a small group to prevent the above. Which loops back to mean the same.
I’d like to know what other options there are?
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pajak666
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June 13, 2014, 09:48:59 PM |
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I am amazed by the numer of ignorant greedy newbs who say that they don't give a shit. Please google "bitcoin 51% threat", learn about something before you start using it.
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moriartybitcoin
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June 13, 2014, 10:13:28 PM |
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ghash is a colossal threat .. the community should NEVER allow a mining pool this kind of power. News of a 51% attack would DESTROY Bitcoin by undermining our confidence in it.
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TookDk
Legendary
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Activity: 1960
Merit: 1062
One coin to rule them all
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June 14, 2014, 01:24:17 AM |
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I am amazed by the numer of ignorant greedy newbs who say that they don't give a shit. Please google "bitcoin 51% threat", learn about something before you start using it.
Agreed Satoshi warned about this.
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Cryptography is one of the few things you can truly trust.
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