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Author Topic: You are threatening Bitcoin’s security  (Read 30654 times)
Blitz­
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May 17, 2011, 03:49:35 PM
 #1

Move to other pools. Stop mining on deepbit.

Here’s what someone with 50% of the network’s hashrate could do.


"Bitcoin had been transformed from an anarachistic challenge to the financial status quo, to the crypto spawn of Satan, fuelled by cut-throat greed and delusions of avarice." - MatTheCat
"these people don't seem to want to stop till Bitcoin is completely destroyed and left like an old cum rag in the corner of the room." - ShroomsKit
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May 17, 2011, 03:51:50 PM
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I think we need Tycho to voluntarily block new people until he is below 33% (and that is a high amount already) of the hash rate. And convince the slush guy to do the same too.

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May 17, 2011, 03:55:54 PM
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How does BTC Guild compare with the others in that pie chart?  That's my favorite at the moment.

And yes, I agree, Deepbit is too big.
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May 17, 2011, 03:58:53 PM
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I don’t know, the pie is from http://bitcoinwatch.com/.

It should be in every miner’s self-interest to switch from deepbit to another pool. If you don’t, you risk that the Bitcoins you mine could become worthless.

Also, deepbit has a fee of 3%. Other pools like Eligius do much better than that.

"Bitcoin had been transformed from an anarachistic challenge to the financial status quo, to the crypto spawn of Satan, fuelled by cut-throat greed and delusions of avarice." - MatTheCat
"these people don't seem to want to stop till Bitcoin is completely destroyed and left like an old cum rag in the corner of the room." - ShroomsKit
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May 17, 2011, 04:10:54 PM
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I don’t know, the pie is from http://bitcoinwatch.com/.

It should be in every miner’s self-interest to switch from deepbit to another pool. If you don’t you risk that the Bitcoins you mine coud become worthless.

Also, deepbit has a fee of 3%. Other pools like Eligius do much better than that.
I use two pool. 50% at deepbit and 50% at btcmine   Wink
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May 17, 2011, 04:11:27 PM
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I think we need Tycho to voluntarily block new people ... and convince the slush guy to do the same too.
And convince Tycho and Slush not to conspire with each other Smiley
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May 17, 2011, 04:15:34 PM
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Problem is the others just aren't good enough. Slush is too unstable and I never returned to BTC mine after not getting paid for a block that took forever to finish in April. The rest are just too small, which makes it too easy to pool jump.

All IMO, of course.
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May 17, 2011, 04:18:50 PM
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Free market man, Tycho should not FORCE people out of his pool... If he provides the best most consistent server, then he should get a big slice of the pie.  Last night I watched as one of his servers went down and as promised it automatically switched over to a failover server he has.  Me not having to worry and knowing that tycho is behind the pool is worth the 3% to me.

Also I would rather have 50% in a pool be the threat then 50% in one person be a threat... I would be wary of the mining companies.  If tycho starts doing something bad miners can move off his pool and thwart his attack... if a single person had that power... what, do we all run out and buy video cards as fast as possible?

The only thing Tycho did was make a good fair pool when there was no other good option at the time.

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May 17, 2011, 04:20:45 PM
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If tycho starts doing something bad miners can move off his pool and thwart his attack...
Great, so we just wait until something bad happens, rather than preventing it from the start. This will certainly help confidence in Bitcoin as a currency.

"Bitcoin had been transformed from an anarachistic challenge to the financial status quo, to the crypto spawn of Satan, fuelled by cut-throat greed and delusions of avarice." - MatTheCat
"these people don't seem to want to stop till Bitcoin is completely destroyed and left like an old cum rag in the corner of the room." - ShroomsKit
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May 17, 2011, 04:24:17 PM
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[...] Slush is too unstable [...]

Can you tell me when mining on Slush's pool has ever been unstable except for this one recent instance?

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May 17, 2011, 04:33:06 PM
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Tycho could just make his pool rate display a lower total to shut people up.
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May 17, 2011, 04:38:23 PM
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Come on guys we all know you are in this for the $$$. If bitcoin gets attacked the least you would care once you have your BTC all converted to $$$ !

If people would care at all about Bitcoin and its security they would stop mining at deepbit.net monopoly but as you can see they all care about the moneyz !
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May 17, 2011, 04:39:48 PM
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[...] Slush is too unstable [...]

Can you tell me when mining on Slush's pool has ever been unstable except for this one recent instance?

Slush has gone down on me at least two or three times since I started mining in March. Eligius even more than that. DeepBit has, too, but usually it's scheduled, so it's at least predictable. I personally like Eligius more, but it's just too unstable.
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May 17, 2011, 04:42:15 PM
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I'd switch over to any pool that offered Instant Payouts, That's one of the major reasons I like deepbit. I hate having to wait half a day to get confirmed on slushes pool.
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May 17, 2011, 04:45:03 PM
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Slush has gone down on me at least two or three times since I started mining in March.

No, I had only one serious downtime on mining interface, others were service restarts, which is normal on all pools. Oh, I was also DoSed twice, but it is long time ago and it wasn't total outage, pool was just slower for few hours.

Yes, I had troubles with website, but it didn't affect mining.

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May 17, 2011, 05:12:55 PM
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I'd switch over to any pool that offered Instant Payouts, That's one of the major reasons I like deepbit. I hate having to wait half a day to get confirmed on slushes pool.
Eligius pays out instantly into your wallet via a generation transaction. You don’t even have to register.

Seriously, deepbit’s share of hashpower is troubling. I hope this will change soon.

"Bitcoin had been transformed from an anarachistic challenge to the financial status quo, to the crypto spawn of Satan, fuelled by cut-throat greed and delusions of avarice." - MatTheCat
"these people don't seem to want to stop till Bitcoin is completely destroyed and left like an old cum rag in the corner of the room." - ShroomsKit
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May 17, 2011, 05:18:24 PM
 #17

Eligius pays out instantly into your wallet via a generation transaction.


Well, you cannot spend those coins before at least 100 confirmations, so it is basically the same as many other pools. Deepbit isn't "instant" too, it takes one hour to show block on the account...

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May 17, 2011, 05:20:22 PM
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Is there any open source pool software yet? Might help if anyone could easily set up their pool.

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May 17, 2011, 05:22:25 PM
 #19

Move to other pools. Stop mining on deepbit.

Here’s what someone with 50% of the network’s hashrate could do.


So you are saying Tycho is an attacker? Seriously?
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May 17, 2011, 05:24:46 PM
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Move to other pools. Stop mining on deepbit.

Here’s what someone with 50% of the network’s hashrate could do.


So you are saying Tycho is an attacker? Seriously?

Not necessarily, but why take the risk?

What happen if someone hack into Tycho accounts, or impersonate him with great social engineering, and smuggle some rogue code around? Or do some other evil stuff? Also, even if everyone like and trust Tycho, would you give loaded shotgun to your mom and let her point at your head while swearing that she won't ever pull the trigger? What happen if the trigger is defective?

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