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Author Topic: does the bitcoin community trust GHash ?  (Read 2085 times)
amitrwt
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June 17, 2014, 07:35:09 PM
 #21

I got a really bad feeling about this incident..! this should be cleared once for all , some kinda actions should be taken or we don't know maybe after a year or two this would turn a real pain in the a*s. 
 

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Argwai96
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June 17, 2014, 07:57:59 PM
 #22

Apparently, from the looks of things, the bitcoin community DOES trust GHash. And that is a big, big mistake. We'll probably wait for a massive double spend attack to do anything about it....

i don't know where you got that.. so many people are up in arms, to the point where ghash.io had to address the issue.

Address it, how? By saying, "We never have and never will participate in any 51% attack or double spend against bitcoin." Okay......

So many people up in arms? What matters are miners literally doing something about it.
beaconpcguru
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June 18, 2014, 01:11:09 AM
 #23

No.  Bitcoin is to be trustless and none should be needed aside from protocol security of which they (or any other entity with that much power) have excessive control over (51% related attack is aside from all the sheisty things they can and more than likely already do such as block favoritism.)  Aside from that they stole in the past and will do so again in the future
Arghhh
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June 18, 2014, 02:47:30 AM
 #24

Trusting GHash not to double-spend is like trusting your government not to print more money  Wink
zimmah
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June 18, 2014, 07:29:46 AM
 #25

Even though I think it's not good for a pool to have that much power a pool is still made up from many individuals, not a single person. Individual miners will leave the pool before they can really do much harm, which will leave the pool much weaker should they decide to go rogue.

Still, I'd much rather see a better spread in pools. The problem is though that ghash just offers the best package deal so most miners will logically join ghash, and until a competing pool comes up I can't blame them.
alexeft
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June 18, 2014, 12:30:55 PM
 #26

Is there a program to read the blockchain and see how many bitcoins are in it?
I mean, we could instantly know if there are any doublespends in it first hand!
falllling (OP)
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June 19, 2014, 10:31:48 AM
 #27

GHash is currently 44% ... What the fuck people Angry
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