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TERA
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June 13, 2014, 03:46:43 AM |
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Why is that whenever this crisis starts ,it accelerates and more and more people join the pool rather than leaving it?
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Raystonn (OP)
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June 13, 2014, 04:33:02 AM |
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It just dropped to 49%. Immediate disaster averted.
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Hunyadi
Legendary
 Offline
Activity: 1281
Merit: 1000
☑ ♟ ☐ ♚
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June 13, 2014, 04:38:01 AM |
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Why is that whenever this crisis starts ,it accelerates and more and more people join the pool rather than leaving it?
This is a very good question. |
▂▃▅▇█▓▒░B**-Cultist░▒▓█▇▅▃▂
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Raystonn (OP)
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June 13, 2014, 04:38:53 AM |
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"Hey, everyone else is mining over there. It must be better!"
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Raystonn (OP)
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June 13, 2014, 04:44:46 AM |
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It just dropped to 49%. Immediate disaster averted.
And back up to 50% again. |
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Raystonn (OP)
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June 13, 2014, 04:45:41 AM |
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It just dropped to 49%. Immediate disaster averted.
And back up to 50% again. And 49% again. They're on the edge and keep flipping. |
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Gingermod
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June 13, 2014, 04:50:21 AM |
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It just dropped to 49%. Immediate disaster averted.
And back up to 50% again. And 49% again. They're on the edge and keep flipping. When it hits 51% BTC explodes |
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Raystonn (OP)
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June 13, 2014, 04:52:14 AM |
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Lol. 51% is just a figure of speech. You only need 50.0000000000000000000000000000000000000001% to attack. They've reached that and have not attacked as of yet.
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Gingermod
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June 13, 2014, 04:53:06 AM |
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Lol. 51% is just a figure of speech. You only need 50.0000000000000000000000000000000000000001% to attack. They've reached that and have not attacked as of yet.
You can attempt double spends at 20-30-40% It's all based on probability and how deep the transaction is in the chain. |
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AuroraHF
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June 13, 2014, 04:58:17 AM |
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They are back up to 50% right now. This is horrible, everyone should stop using GHASH.IO right now.
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lmao
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Hunyadi
Legendary
Offline
Activity: 1281
Merit: 1000
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June 13, 2014, 05:03:44 AM |
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Do you guys think it is an accident that the GHash is where it is right now? I mean, I believe the majority of its hashing power is from big professional miners (they know what they are doing), not small hobbyists....
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CryptoNames
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June 13, 2014, 05:47:50 AM |
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Do you guys think it is an accident that the GHash is where it is right now? I mean, I believe the majority of its hashing power is from big professional miners (they know what they are doing), not small hobbyists....
If you look at the service they offer, you'll see a blatant reason why this happens (one of many actually). From a competitive business perspective, they've covered all bases - cloud mining contracts, hardware mining, merged mining, and then trade it like a commodity on cex.io. One-stop-shop business model that nobody else offers; at least, not as well executed  Visit https://ghash.io/ and see for yourself. |
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Hunyadi
Legendary
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Activity: 1281
Merit: 1000
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June 13, 2014, 06:38:21 AM |
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Do you guys think it is an accident that the GHash is where it is right now? I mean, I believe the majority of its hashing power is from big professional miners (they know what they are doing), not small hobbyists....
If you look at the service they offer, you'll see a blatant reason why this happens (one of many actually). From a competitive business perspective, they've covered all bases - cloud mining contracts, hardware mining, merged mining, and then trade it like a commodity on cex.io. One-stop-shop business model that nobody else offers; at least, not as well executed Visit https://ghash.io/ and see for yourself. Yes, I know their business model. Still, I would assume they have several +50TH/s professional miners there. |
▂▃▅▇█▓▒░B**-Cultist░▒▓█▇▅▃▂
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spiderbrain
Legendary
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Activity: 889
Merit: 1013
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June 13, 2014, 06:51:54 AM |
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I think I'm going to spend some HODLED bitcoins on a non GHash.io cloud miner. Any suggestions..?
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JimNastics
Newbie
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Activity: 26
Merit: 0
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June 13, 2014, 07:10:18 AM |
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No doubt the permabulls and nutters will sweep this under the carpet. It's a gigantic clusterfuck.
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zimmah
Legendary
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Activity: 1106
Merit: 1005
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June 13, 2014, 08:01:10 AM |
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"Hey, everyone else is mining over there. It must be better!"
The problem is it actually is better than any of the alternatives. I wonder why nobody set up a pool that can actually compete. |
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TERA
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June 13, 2014, 08:08:34 AM |
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The ghash.io thing where people keep joining ghash faster it gets closer to 51% reminds me of the movie Untraceable where a serial killer ties up his victims and puts them on a Youtube feed with a system where the more people that are watching a video, the faster the victim dies, and then millions of viewers exponentially pile in to watch, brutally killing the victim.  |
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TERA
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June 13, 2014, 08:15:38 AM |
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The ghash.io thing where people keep joining ghash faster it gets closer to 51% reminds me of the movie Untraceable where a serial killer ties up his victims and puts them on a Youtube feed with a system where the more people that are watching a video, the faster the victim dies, and then millions of viewers exponentially pile in to watch, brutally killing the victim.
Is it a good movie or it's just gore like saw?? There is some gore but it's not a just a gore movie - it is a movie about human psychology and how greedy people are, because everyone insists on watching the movie, which contributes to the victim dying. |
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