It's already 48%, No one care about Ghash?

[Stevenrm87]

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. 

Now you see why having only 1 bloackchain will not be acceptable. Having a backup suck as Litecoin or Peercoin are here for these very reasons and why they will continue to grow and gain marketshare

[Hippie Tech]

We know the 51% magic number..  But what about the coins ?

How easy would such an attack be to carry out if you had 200,000 BTC to compliment the hashpower ?

https://bitcointalk.org/index.php?topic=650311.0

[jztxeno]

Time will tell.

[NEM minnow]

It was sooooooo weak that a hardware manufacture had to resolve this instead of the pool itself.  It really makes me have a lot less faith in bitcoin.  The pool should have just made a very small fee instead of charging 0.  That would have naturally reduced the share.  Instead the pool operators just kept on going.  Soooooo sad.

[TheTruth4]

MORE p2pools and less idiots buying mining contracts that do not pay off.

[pastet89]

Satoshi didn't plan the birth of pool when he projected bitcoin with the 51% attack possibility.

[Amph]

Satoshi didn't plan the birth of pool when he projected bitcoin with the 51% attack possibility.

i think he thought about it, but he couldn't find a good solution

[LiteCoinGuy]

Ghas.IO working on "mining decentralization solution"

http://imgur.com/3IInTSR


but in the long run we have to find a solution that this is impossible do to or at least much much harder.

[eid]

So now ghash.io control 50% of the network, but they've turned off/hidden some of it so it looks better on a graph?

This doesn't inspire confidence.

[Mikez]

I am amazed by the numer of ignorant greedy newbs who say that they don't give a shit.

I think we should at least consider the fact that perhaps the large number of 'ignorant greedy newbs' might actually be a significant smaller group, with a nefarious agenda.

/paranoia off.

[Harley997]

So now ghash.io control 50% of the network, but they've turned off/hidden some of it so it looks better on a graph?

This doesn't inspire confidence.

BitFury actually pulled several PH/s of their mining capacity from Ghash and directed it towards other pools.

[BetMoose]

Ghas.IO working on "mining decentralization solution"

http://imgur.com/3IInTSR


but in the long run we have to find a solution that this is impossible do to or at least much much harder.

Their support doesn't even sound like native english speakers - which is fine actually, but anyway it's not reassuring, I don't think they CAN 'decentralize' it without losing control of their miners lol.. Pointing their hardware at a different pool doesn't change the fact they have CONTROL at any time to do a 51% attack.... =\

We just need a better mining model tbh..

[cdog]

Something like, oh I dont know, proof of stake, or vertcoin? This problem isnt new, and it isnt going away. I think its not just an issue, it is THE issue...

Herein lies the catch 22 with ASIC mining:

Initially, ASIC mining makes the network exponentially more secure. But in the end, ASIC mining will make the network MUCH LESS secure.

[TookDk]

Satoshi didn't plan the birth of pool when he projected bitcoin with the 51% attack possibility.

i think he thought about it, but he couldn't find a good solution

He properly assumed that the miners would use their brains when selecting their pool.

[bananas]

i sold 51% of my bitcoins, not kidding

[FlowerMatt]

WTF, why are miners so clueless?

[gigalew]

This is a flaw in bitcoin itself. CEX.IO today.........China, Russia, USA tomorrow.

[Ikaros]

Why everybody talk about 51 %? 50.00001 % is not enough?

[TookDk]

Why everybody talk about 51 %? 50.00001 % is not enough?

The term 51% is "hype" word, actually 40% would be enough to make serious trouble.

[Lauda]

Why everybody talk about 51 %? 50.00001 % is not enough?

The term 51% is "hype" word, actually 40% would be enough to make serious trouble.

You mean 40% is enough to get past some confirmations with a decent success rate?
51% is like doomsday for bitcoin though.