Ghash.io: We Will Never Launch a 51% Attack Against Bitcoin, Please just TRUST US
http://www.coindesk.com/ghash-io-never-launch-51-attack/CEX.IO, the operating exchange for the largest bitcoin mining pool Ghash.io, has issued a new statement to address community concerns regarding the growing amount of the pool’s bitcoin network hashing power, Let's see what did the bitcoin community response:
BitRod
We trusted Gox and look what happened. Why do I have a feeling the next bear market will have something to do with this.
Edward
What a funny statement "We will NEVER launch a 51attack against Bitcoins", You guys are in it for the money. If I do you a offer of $100 million, you will launch that 51attack on Bitcoins, within a nanosecond. If the banks want they can just buy this company, heck it will even make them Bitcoins. If we don't kill this crap of ASIC mining we will find out soon, how it is to restart Bitcoins. People who think that the miners still got incentive not to act crazy, your just a bunch of idiots, it's all about the MONEY, whoever offers more will always WIN.
SikoSoft
Even if that were the case, that isn't good enough.
What if the system is compromised? What if some employee goes rogue? What if some government types swoop in to take advantage of the power and bring Bitcoin to its knees?
Even if *they* might be noble, the fact remains that all that power is in one place, waiting for someone to exploit it.
It doesn't matter how great of a group they might be. The fact remains they are endangering the stability of Bitcoin by accepting this.
In fact, I'd go so far as to sya *anyone* mining on them is jeopardizing the stability of Bitcoin by mining on one of these whales. No fees mean jack shit when the coin crumbles to nothing. Think long term!
Martin Sip
Hard to image that they would claim the opposite: "One day will attack bitcoin with all our powers.
Minors are Morons
Hey Bitcoin! Let;'s all just TRUST THEM ......*face palm*
John Marcus
So basically, just "trust us"? This, even though they were responsible for double-spends on a gambling site last year (by a supposedly 'rogue employee').
Who's to say another 'rogue employee' may do more damage?
SSgt Ruff
Bitcoin's major advertised benefits is that the whole currency is decentralized, never relying on a single bank, payment processor, MTB, mining pool or organization. GH I/O is going to screw over the bitcoin community as a whole in a similar manner that MT GOX manipulated the price of BTC and loss/ stole alot of peoples money. Honestly it scares me as a miner knowning that companies like Cointerra have petahashes worth of mining farms now that at any giving time they could activate and mine for themselves. This is still a very volatile unregulated market people, and all it takes is a single mishap or mistake to discredit a system.
Jimmy Jordan
I bet he was holding a Starbucks cup when he said it.
MichaelRWorthingon
And Mt Gox said "We would never operate as a fractional reserve"
Jess
this ceo needs to meet with a hunting accident. hes blatently ignoring the risk this poses. what if a hacker gains control or a govt?? they need to stay at 30%. realisticly, nobody should go over 20% so no two pools would reach 50%. i dont expect a company that has performed a double spend in the past to care as they clearly show they dont.
Marc C
Attack isn't the only possible abuse when they have full control...
Krogoth Alexander Marc C
Any sort of abuse is viewed as an attack, although.. never trust a human.
Damian Mee
No matter the declarations, once/if they reach 51%, they should be banned from the main network for couple of days. Ban => no profit => more cares to prevent it next time given
Erik Matt
Maybe some people can start do DDOS attack on them ?
MichaelRWorthingon Erik
Yes that would be great...asking them nicely to control their total % isn't working, so hopefully others will do whatever it takes to save bitcoin (and our investments in it).
precaution-not-reaction
BLOCK THEM OFF............NOW!!
FreeJack
You'll forgive me if I don't care to put my faith in the benevolence of CEX.io in holding majority hashrate. It isn't about what you do or don't intend to do with it...it is the risks that it presents that you even HAVE the majority hashrate, to begin with.
I don't know about anyone else, but I'm not ready to remove the "trustless and decentralized" bullet points from my Bitcoin pitch.
etc...
so in fact, we all know what the truth is,
Does GHash coin worth $5xx? no, the huge crash is coming!
