Theory on Ghash situation. price manipulation.

[VolanicEruptor]

i've always thought ghash was a great pool and still is.  the strangest thing about this whole situation is the contradiction between their previous interview (against 51%) and then of course their actions that followed. making me think it was simply some corruption happening deep within management. i probably dont have enough evidence {hence why its a theory} but the biggest clue is the btc price. when they passed 50% there was a large drop and then it seemed there was a very large amount of bidding and bullish movement right before they pulled a portion of their hash power out of the pool. if this was simple price manipulation it was a great move but you would think it would damage their business more than anything, which is why i think it was out of the interest of a single or small handful of individuals with ulterior motives and of course going against what the public wanted them to do (keeping the network decentralized). in the end i applaud ghash because it could possibly give the dev team a reality check while its still early in the game. keeps them on their feet.  thoughts?

[bluemeanie1]

I tend to think that yes, this was a price manipulation.  If so it's a great time to get in.

-bm

[jc01480]

Just how "deep in management" you think 2 or 3 people go?  I doubt this is a Fortune 100 company. 

[waldox]

maybe ghash is buying while there is the 51% issue and prices are low then scale back hash rate after
its possible

[bluemeanie1]

maybe ghash is buying while there is the 51% issue and prices are low then scale back hash rate after
its probable

[vpitcher07]

maybe ghash is buying while there is the 51% issue and prices are low then scale back hash rate after
its probable

"Insider trading" in bitcoin is a bit of a oxymoron...

[TwinWinNerD]

maybe ghash is buying while there is the 51% issue and prices are low then scale back hash rate after
its probable

pay back the 1 Million NXT you stole from the NXT community.

https://nxtforum.org/nxtventures/nxtautodac-all-of-bluemeanie%27s-automated-profit-making-blockchain-companies/60/

[bryant.coleman]

These are just wild rumors. You should remember that GHash had immediately issued a press release stating that they have no intention to launch a 51% attack, when the news first surfaced.

[eid]

People buying coins when the price drops seems normal to me; doesn't mean its a conspiracy.

Though it could be.

[RodeoX]

Looks like we have a new whipping boy. Complete with a mysterious secret plan.   

[ShakyhandsBTCer]

ghash really does not have any way to manage their hashrate over the short term.

If they had 48% one day and 51% the next their actual hashrate could have potentially gone down but had slightly better luck compared to the rest of the network. To say that their actions caused them to get 51% would really not be accurate.

[bEGPO cNuPTA]

ghash really does not have any way to manage their hashrate over the short term.

If they had 48% one day and 51% the next their actual hashrate could have potentially gone down but had slightly better luck compared to the rest of the network. To say that their actions caused them to get 51% would really not be accurate.

They could do what BTC Guild did. No?

[QuestionAuthority]

26% of the hash rate is unknown and 32% is Ghash.IO. Their hash rate dropped the exact percentage that unknown increased. I'm sure happy that one evil actor doesn't have control of most of the mining power. I feel much better now.

https://blockchain.info/pools

[phillipsjk]

26% of the hash rate is unknown and 32% is Ghash.IO. Their hash rate dropped the exact percentage that unknown increased. I'm sure happy that one evil actor doesn't have control of most of the mining power. I feel much better now.

https://blockchain.info/pools

Your link does not exactly let you look at historical data.

The increase in "unknown" miners could be simply large operations moving to solo mining: even if they only find a block every few days.

I agree it is unlikely Ghash.io actually sold any hash-power.

[QuestionAuthority]

26% of the hash rate is unknown and 32% is Ghash.IO. Their hash rate dropped the exact percentage that unknown increased. I'm sure happy that one evil actor doesn't have control of most of the mining power. I feel much better now.

https://blockchain.info/pools

Your link does not exactly let you look at historical data.

The increase in "unknown" miners could be simply large operations moving to solo mining: even if they only find a block every few days.

I agree it is unlikely Ghash.io actually sold any hash-power.

I'm glad you put that last sentence in.

They have said, "Successful and innovative companies cannot be expected to limit their growth or competitiveness as a direct result of their success".

That sounds like a resounding "fuck you, we're winning, deal with it" to me.

[matt4054]

Is the move away from GHash.io to unknown (solo) really surprising, is it a big deal?

The thing is, there is no incentive for miners to move away from GHash.io and it is a systemic problem. But if GHash.io didn't play fair and starting being evil, I bet they would instantly lose much of their hashrate, since most of it is external (i.e. not cloud mining)

[bEGPO cNuPTA]

26% of the hash rate is unknown and 32% is Ghash.IO. Their hash rate dropped the exact percentage that unknown increased. I'm sure happy that one evil actor doesn't have control of most of the mining power. I feel much better now.

https://blockchain.info/pools

Oh, this is just a coincidence.

Carry on and sleep well knowing our benevolent masters at Ghash.io have taken 20% of their hashing power off the racks and are letting them collect dust. Because we all know how trustworthy and rational they are. Right?

[phillipsjk]

Simply concentrating the hash-power is evil:
How A Mining Monopoly Can Attack Bitcoin

[QuestionAuthority]

Is the move away from GHash.io to unknown (solo) really surprising, is it a big deal?

The thing is, there is no incentive for miners to move away from GHash.io and it is a systemic problem. But if GHash.io didn't play fair and starting being evil, I bet they would instantly lose much of their hashrate, since most of it is external (i.e. not cloud mining)

Really? Control of the mining power is no big deal, eh. What exactly would the consequences be of a hard fork to Bitcoin? How much faith would be lost in Bitcoin and its dev team? Would it maintain its top spot in crypto money land? GHash has already used its hashing power to attack a gambling site that accepted 0-confirm transactions. LukeJr, that piece of Jesus freak crap, has already used the Eligius pool to attack CoiledCoin. This problem needs to be solved once and for all so that no pool operator has the power to do anything to Bitcoin.

[beaconpcguru]

GH has repeatedly double spent to steal from gambling sites, they deserve to be shutdown.  I don't believe their excuses that its random employees using their addresses to steal.