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Author Topic: "unknown" pools, 50% attack?  (Read 1388 times)
shmadz
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June 16, 2012, 06:11:21 PM
 #1

disclaimer - I'm always hesitant to start a new thread, but I can't seem to search this forum efficiently, so if this is common knowledge then sorry or whatever.

on http://bitcoincharts.com/ right now, the hashrate distribution is showing "unknown" as now having greater than 50% of the total hashrate.

I have never before seen any one group reach 50+ percent, and although I don't understand how to execute a double-spend attack, I have heard that it requires controlling more than 50 percent of the network hashrate.

what does "unknown" mean? I understand that it's unlikely that all of that "unknown" is a single entity, but it is not impossible.

anyone want to clear all this up and allow me to sleep soundly? or should I just sell all my bitcoins right now?

"You have no moral right to rule us, nor do you possess any methods of enforcement that we have reason to fear." - John Perry Barlow, 1996
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RyNinDaCleM
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June 16, 2012, 06:28:08 PM
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It's a combination of all solo miners and small, not well known pools.

Edit: This should be in the general mining subforum though.

Realpra
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June 16, 2012, 08:24:24 PM
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He is right it's a bit much, who mines solo these days and how many small pools were created/gained traction in such a short time?

Abandon ship people - abandon ship!


Nah even if its an 51% attack it shouldn't hurt us too much.

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phorensic
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June 16, 2012, 08:49:25 PM
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Not to be *that guy*, but please search on this topic.  It comes up once a week and there is a really good reason why you see it and it is nothing to worry about.
mav
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June 16, 2012, 11:26:44 PM
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disclaimer - I'm always hesitant to start a new thread, but I can't seem to search this forum efficiently, so if this is common knowledge then sorry or whatever.

on http://bitcoincharts.com/ right now, the hashrate distribution is showing "unknown" as now having greater than 50% of the total hashrate.

I have never before seen any one group reach 50+ percent, and although I don't understand how to execute a double-spend attack, I have heard that it requires controlling more than 50 percent of the network hashrate.

what does "unknown" mean? I understand that it's unlikely that all of that "unknown" is a single entity, but it is not impossible.

anyone want to clear all this up and allow me to sleep soundly? or should I just sell all my bitcoins right now?

The latest other thread on this topic of the many - this has been asked many times in the mining forum.

https://bitcointalk.org/index.php?topic=86223.0

In summary

Bitcoincharts.com is not very accurate. Some of the unknown blocks are from known pools but called unknown.
finway
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June 17, 2012, 03:13:30 AM
 #6

Check this out, more accurate stats:
http://blockorigin.pfoe.be/chart.php

shmadz
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June 21, 2012, 11:20:22 PM
 #7

Check this out, more accurate stats:
http://blockorigin.pfoe.be/chart.php


Ahh, thank you finway, that looks like a much better chart!

... and sorry everyone else  Kiss

"You have no moral right to rule us, nor do you possess any methods of enforcement that we have reason to fear." - John Perry Barlow, 1996
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