GHash.IO hashrate

[TERA]

Same thing is the observer effect with people who stand by when someone is in a crisis,   and same thing as people who don't vote.  People only think about their individual impact and aren't confident about the collective impact as a group - everyone feels they are an exception.

[Tzupy]

As their hashrate stays around 51%, some people are selling for fiat as a hedge. But I believe some may choose to buy other cryptos, also as a hedge,
so if it gets worse we may see BTC / USD down while other cryptos could go up (at least compared with BTC).
If the downtrend continues, then even if GHash won't exploit their 51% (or higher), they would have proved it's possible to manipulate the price down.

[lynn_402]

As their hashrate stays around 51%, some people are selling for fiat as a hedge. But I believe some may choose to buy other cryptos, also as a hedge,
so if it gets worse we may see BTC / USD down while other cryptos could go up (at least compared with BTC).
If the downtrend continues, then even if GHash won't exploit their 51% (or higher), they would have proved it's possible to manipulate the price down.

+1
I believe PoS coins will profit the most from this.

[Este Nuno]

As their hashrate stays around 51%, some people are selling for fiat as a hedge. But I believe some may choose to buy other cryptos, also as a hedge,
so if it gets worse we may see BTC / USD down while other cryptos could go up (at least compared with BTC).
If the downtrend continues, then even if GHash won't exploit their 51% (or higher), they would have proved it's possible to manipulate the price down.

+1
I believe PoS coins will profit the most from this.

I've found in my experience that a vast amount of bitcoiners are completely against the idea of new cryptocurrency technology. I think a lot of the people buying altcoins are already in to altcoins. The amount of new altcoin tech hate you seen on places like reddit is astonishing.

[keewee]

I don't think the Blockchain.info chart is very accurate. I finally found this link to a better chart someone posted the last time this topic came up. I doubt GHash.io is anything to worry about yet: http://blockorigin.pfoe.be/chart.php

[Raystonn]

That averages the last 2 weeks.  You only need >50% for about 10 minutes to double spend.

[Benjig]

That averages the last 2 weeks.  You only need >50% for about 10 minutes to double spend.

I dont know why the private miners are still into gigahash, they should have moved to other pool long ago, or do solomining.

[Mythul]

I have to be honest, that was some scary moment for me  .

[JorgeStolfi]

If GHash.io just turned off or throttled down their equipment, that does not solve the problem, merely hides it.  The risk exists when an entity is capable of doing X% of the hash rate, not only when it does that.

[JorgeStolfi]

Who are the people controlling GHash.io?

[Parazyd]

Who are the people controlling GHash.io?

I know about Jeff and his relation to CEX.IO: https://twitter.com/jeff_smith01
Probably has something to do with GHash.IO as well.

[JorgeStolfi]

Who are the people controlling GHash.io?

I know about Jeff and his relation to CEX.IO: https://twitter.com/jeff_smith01
Probably has something to do with GHash.IO as well.

I thought that he was just their PR person?

[segeln]

If GHash.io just turned off or throttled down their equipment, that does not solve the problem, merely hides it.  The risk exists when an entity is capable of doing X% of the hash rate, not only when it does that.

+1

[Parazyd]

Who are the people controlling GHash.io?

I know about Jeff and his relation to CEX.IO: https://twitter.com/jeff_smith01
Probably has something to do with GHash.IO as well.

I thought that he was just their PR person?

A whois request gives Alex Luts as the person who the domains are registered to.

[Ibian]

Same thing is the observer effect with people who stand by when someone is in a crisis,   and same thing as people who don't vote.  People only think about their individual impact and aren't confident about the collective impact as a group - everyone feels they are an exception.

People who still vote are suckers. In the states it's the people who fund elections that have the real power, and in EU countries the only vote of any meaning is the vote to get out of EU. And we don't get to vote on that. Even in a hypothetical world where votes actually counted, we can't reverse the current decline in less than 50 years.

[Hyena]

Same thing is the observer effect with people who stand by when someone is in a crisis,   and same thing as people who don't vote.  People only think about their individual impact and aren't confident about the collective impact as a group - everyone feels they are an exception.

People who still vote are suckers. In the states it's the people who fund elections that have the real power, and in EU countries the only vote of any meaning is the vote to get out of EU. And we don't get to vote on that. Even in a hypothetical world where votes actually counted, we can't reverse the current decline in less than 50 years.

Democracy should replace voting with a Proof of Human Work inspired by Bitcoin and that work should be hard, like lifting weights in the gym.

[Este Nuno]

Democracy should replace voting with a Proof of Human Work inspired by Bitcoin and that work should be hard, like lifting weights in the gym.

Doyouevenlift?coin

Proof of Workout

Start it up

[Ibian]

Same thing is the observer effect with people who stand by when someone is in a crisis,   and same thing as people who don't vote.  People only think about their individual impact and aren't confident about the collective impact as a group - everyone feels they are an exception.

People who still vote are suckers. In the states it's the people who fund elections that have the real power, and in EU countries the only vote of any meaning is the vote to get out of EU. And we don't get to vote on that. Even in a hypothetical world where votes actually counted, we can't reverse the current decline in less than 50 years.

Democracy should replace voting with a Proof of Human Work inspired by Bitcoin and that work should be hard, like lifting weights in the gym.

Local political party already did a vote with blockchain-based tech. Dunno details, but just the possibility of introducing actual democracy where votes can't be forged or "misplaced" is amazing.

[cinnamon_carter]

chilling analogy

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.

[zimmah]

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.

it's a pretty good movie, i remember watching it with my ex.

but it's indeed a bit like the GHASH situation indeed, but in their defense, GHASH is still the best pool by far.