[2014-06-09] GHash Nears 51%, Apple’s Change of Heart, Facebook Approves a Dogec

Kosta#

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Quote from: David Rabahy on June 09, 2014, 01:20:10 PM

How do we know that Ghash.io and Discus Fish are not controlled be the same user(s)?

does not have to be discus fish. there are several pools that, when added to ghash.io, will result in 50+%. we have absolutely no proof that owner of ghash.io does not also own one of those.

freedomno1

legendary

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Learning the troll avoidance button :)

Quote from: bryant.coleman on June 09, 2014, 05:16:46 AM

Quote from: Bit_Happy on June 09, 2014, 03:19:58 AM

Doge Tipping App:
Do you see BTC in the supported list? ("...and more" includes BTC?)
Could you imagine Facebook with DOGE plus other alts and no BTC? Shocked

Ever since the Winkelwii went public about their Bitcoin investment, Mark Zuckerberg is trying to destroy the digital currency. Adoption of Doge might be a step towards that direction.

Zuckerberg holds a grudge, that said I guess he had no issues with anything the Winkelwii are not holding right now
As for the Citibank report they need to learn more and I agree with the opinion below.
What Citibank wants would turn bitcoin into everything Satoshi disliked about modern financial systems. It’s clear that the general public still doesn’t entirely understand Bitcoin, and as a result, bitcoin still has a long way to go until it sees widespread adoption.

bryant.coleman

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Quote from: David Rabahy on June 09, 2014, 01:41:18 PM

Although the chances are low and I don't actually suspect them of this, how would we prove it one way or the other?
Why in the world does anyone stick with Discus Fish? Why don't they switch to GHash and save on the fees?

I don't know for sure. The owner of Discus Fish remains anonymous, although it is known that he is a resident of mainland China. And Chinese miners might be sticking with Discus Fish, since they offer added anonymity.

Ron~Popeil

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Quote from: Bit_Happy on June 09, 2014, 01:45:49 PM

Quote from: bryant.coleman on June 09, 2014, 10:16:51 AM

Quote from: howardb on June 09, 2014, 09:42:21 AM

Mark Zuckerberg should know better than to stand between people and their dreams! Facebook is already seen as old hat by the next gen children, would not take much negative press for it to go the way of myspace.

Zuckerberg and his Dogecoin will fail completely in this battle. Dogecoin doesn't possess one of the major advantages which Bitcoin possess. It's supply is not limited, and therefore it is not guarded against inflation.

I "like" Dogecoin simply as a silly, fun joke and to think Zuck is using it against BTC is almost hilarious.
"It's supply is not limited..."
A pre-defined amount of inflation is 'limited' as long as they never again change the target numbers now that the chaotic earliest days are over. A huge supply will come in handy if DOGE spreads through FB the way it is in Reddit. .....LOL? Grin

Hopefully it pumps one more time so I can dump. Grin

Bit_Happy

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A Great Time to Start Something!

Quote from: bryant.coleman on June 09, 2014, 10:16:51 AM

Quote from: howardb on June 09, 2014, 09:42:21 AM

Mark Zuckerberg should know better than to stand between people and their dreams! Facebook is already seen as old hat by the next gen children, would not take much negative press for it to go the way of myspace.

Zuckerberg and his Dogecoin will fail completely in this battle. Dogecoin doesn't possess one of the major advantages which Bitcoin possess. It's supply is not limited, and therefore it is not guarded against inflation.

I "like" Dogecoin simply as a silly, fun joke and to think Zuck is using it against BTC is almost hilarious.
"It's supply is not limited..."
A pre-defined amount of inflation is 'limited' as long as they never again change the target numbers now that the chaotic earliest days are over. A huge supply will come in handy if DOGE spreads through FB the way it is in Reddit. .....LOL? Grin

David Rabahy

hero member

Activity: 709

Merit: 503

Quote from: bryant.coleman on June 09, 2014, 01:30:16 PM

Quote from: David Rabahy on June 09, 2014, 01:20:10 PM

How do we know that Ghash.io and Discus Fish are not controlled be the same user(s)?

Chances are very low. GHash guys are mostly from the United States, while most of the Discus Fish miners are from the mainland China. They charge a 3% fee, which is more than what GHash charges.

Although the chances are low and I don't actually suspect them of this, how would we prove it one way or the other?

Why in the world does anyone stick with Discus Fish? Why don't they switch to GHash and save on the fees?

bryant.coleman

legendary

Activity: 3766

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Quote from: David Rabahy on June 09, 2014, 01:20:10 PM

How do we know that Ghash.io and Discus Fish are not controlled be the same user(s)?

Chances are very low. GHash guys are mostly from the United States, while most of the Discus Fish miners are from the mainland China. They charge a 3% fee, which is more than what GHash charges.

David Rabahy

hero member

Activity: 709

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Quote from: David Rabahy on June 09, 2014, 01:23:20 PM

Can there be a proof of non-collusion?

I suppose we could start by trying to prove collusion http://guide.iacrc.org/elements-of-proof-of-collusive-practices/.

David Rabahy

hero member

Activity: 709

Merit: 503

Can there be a proof of non-collusion?

David Rabahy

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Activity: 709

Merit: 503

Quote from: bryant.coleman on June 09, 2014, 12:19:50 PM

Quote from: David Rabahy on June 09, 2014, 11:00:42 AM

Couldn't the Ghash.io folks just chop their pool into two 20% pieces or better yet 10 4% pieces and avoid the wrath of the community?

Two different pools, each having 20% of the hash power and owned / controlled by the same user (s) is no different from having one single pool with 40% of the hash power.

How do we know that Ghash.io and Discus Fish are not controlled be the same user(s)?

David Rabahy

hero member

Activity: 709

Merit: 503

Quote from: niothor on June 09, 2014, 01:06:04 PM

And they might have already hidden a lot of their hash power in the "unknown" 20% percentage.

Could they be hiding hash power in Discus Fish?

niothor

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in defi we trust

Quote from: David Rabahy on June 09, 2014, 11:00:42 AM

Um, does participating in one pool over another provide superior benefits?

Couldn't the Ghash.io folks just chop their pool into two 20% pieces or better yet 10 4% pieces and avoid the wrath of the community?

Could two or more pools secretly collude to achieve 51%?

There is a far simpler solution...
Start a pool with 0% fee and probably a lot of people will switch to it.

And they might have already hidden a lot of their hash power in the "unknown" 20% percentage.

bryant.coleman

legendary

Activity: 3766

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Quote from: David Rabahy on June 09, 2014, 11:00:42 AM

Couldn't the Ghash.io folks just chop their pool into two 20% pieces or better yet 10 4% pieces and avoid the wrath of the community?

Two different pools, each having 20% of the hash power and owned / controlled by the same user (s) is no different from having one single pool with 40% of the hash power.

David Rabahy

hero member

Activity: 709

Merit: 503

Um, does participating in one pool over another provide superior benefits?

Couldn't the Ghash.io folks just chop their pool into two 20% pieces or better yet 10 4% pieces and avoid the wrath of the community?

Could two or more pools secretly collude to achieve 51%?

bryant.coleman

legendary

Activity: 3766

Merit: 1217

Quote from: howardb on June 09, 2014, 09:42:21 AM

Mark Zuckerberg should know better than to stand between people and their dreams! Facebook is already seen as old hat by the next gen children, would not take much negative press for it to go the way of myspace.

Zuckerberg and his Dogecoin will fail completely in this battle. Dogecoin doesn't possess one of the major advantages which Bitcoin possess. It's supply is not limited, and therefore it is not guarded against inflation.

howardb

hero member

Activity: 574

Merit: 500

Quote from: bryant.coleman on June 09, 2014, 05:16:46 AM

Quote from: Bit_Happy on June 09, 2014, 03:19:58 AM

Doge Tipping App:
Do you see BTC in the supported list? ("...and more" includes BTC?)
Could you imagine Facebook with DOGE plus other alts and no BTC? Shocked

Ever since the Winkelwii went public about their Bitcoin investment, Mark Zuckerberg is trying to destroy the digital currency. Adoption of Doge might be a step towards that direction.

Mark Zuckerberg should know better than to stand between people and their dreams! Facebook is already seen as old hat by the next gen children, would not take much negative press for it to go the way of myspace.

bryant.coleman

legendary

Activity: 3766

Merit: 1217

Quote from: Bit_Happy on June 09, 2014, 03:19:58 AM

Doge Tipping App:
Do you see BTC in the supported list? ("...and more" includes BTC?)
Could you imagine Facebook with DOGE plus other alts and no BTC? Shocked

Ever since the Winkelwii went public about their Bitcoin investment, Mark Zuckerberg is trying to destroy the digital currency. Adoption of Doge might be a step towards that direction.

Bit_Happy

legendary

Activity: 2114

Merit: 1040

A Great Time to Start Something!

"Apple’s not the only company changing its stance on virtual currencies. Facebook’s app terms state that apps must go through Facebook Payments for any type of currency transaction. However, despite this restriction, Facebook has surprisingly approved its first cryptocurrency tipping app – The Doge Tipping App. The app’s developer also submitted a Multicoin Tipping App, which was also approved. This app supports Quark, Mintcoin, Reddcoin, and more."

Doge Tipping App:
Do you see BTC in the supported list? ("...and more" includes BTC?)
Could you imagine Facebook with DOGE plus other alts and no BTC? Shocked

bryant.coleman

legendary

Activity: 3766

Merit: 1217

This is from the press release made by GHash, a few months ago:

GHash.IO does not have any intentions to execute a 51% attack… it could risk our investments in physical hardware and we see no benefit from having 51% stake in mining

The big question is, whether we can trust them or not?

erono

sr. member

Activity: 434

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http://www.cryptocoinsnews.com/news/bitcoin-news-review-ghash-nears-51-apple-allows-bitcoin-apps/2014/06/09

But First, an Important PSA

At the time of this post, GHash.io controls 40% of the hashrate. The pool that’s “trusted by 180k users” is becoming dangerously big. If anyone controls over 50% of the network hashrate, he/she can likely successfully double spend his/her bitcoins, which would have a domino effect that could destroy Bitcoin. Bitcoin was designed to be decentralised, and it’s important to ensure that no entity gains too much control over the network. Please consider moving to a smaller pool or using P2Pool to avoid the threat of a 51% attack.
Apple Reverses its Anti-Bitcoin App Policy
iphone bitcoin

Topic: [2014-06-09] GHash Nears 51%, Apple’s Change of Heart, Facebook Approves a Dogec (Read 863 times)