Topic: [2014-06-16] GHASH.IO statement about the 51 % problem - page 4. (Read 3517 times)
By the same logic, why other people who also sit on a lot of coins and do nothing, why dont they donate to the devs?
GHASH.IO statement about the 51 % problem
#1 "Our...staff confirm it is our intention to help protect and grow the broad acceptance of Bitcoin and categorically in no way harm or damage it."
#2 "Successful and innovative companies cannot be expected to limit their growth or competitiveness as a direct result of their success.
#3 "Asking our users to not use our services or to use competing solutions is not conducive to fostering innovation."
#4 "Implementing a pool fee to our pool contradicts principles of our operation from the very launch of GHash.IO."
#5 "It also does not address the core issue only pushing the problem a few weeks or months down the road when another pool or perhaps GHash.IO again grows towards 51%."
#6 "we...agree with the views expressed by the Bitcoin Foundation that any such exploitation or attack would be obvious it was happening, and pretty easy to defend against."
#7 "To that effect we are in the process of arranging contact to the leading mining pools and Bitcoin Foundation to propose a ‘round table’ meeting of the key players with the aim of discussing and negotiating collectively ways to address the decentralisation of mining as an industry."[/i]
#1 "Our...staff confirm it is our intention to help protect and grow the broad acceptance of Bitcoin and categorically in no way harm or damage it."
#2 "Successful and innovative companies cannot be expected to limit their growth or competitiveness as a direct result of their success.
#3 "Asking our users to not use our services or to use competing solutions is not conducive to fostering innovation."
#4 "Implementing a pool fee to our pool contradicts principles of our operation from the very launch of GHash.IO."
#5 "It also does not address the core issue only pushing the problem a few weeks or months down the road when another pool or perhaps GHash.IO again grows towards 51%."
#6 "we...agree with the views expressed by the Bitcoin Foundation that any such exploitation or attack would be obvious it was happening, and pretty easy to defend against."
#7 "To that effect we are in the process of arranging contact to the leading mining pools and Bitcoin Foundation to propose a ‘round table’ meeting of the key players with the aim of discussing and negotiating collectively ways to address the decentralisation of mining as an industry."[/i]
1. The staff said they aren't going to do it, so I guess we better just trust them on that, right?
2. Successful companies have been expected to limit their growth on a regular basis in every economy except communism to encourage competition. Apparently GHash.IO staff have never heard of a monopoly before, and a monopoly in the case of bitcoin mining is getting anywhere close, just 33%, to half of the total net hashrate. They have, by the very definition of the word when applied to bitcoin mining, a huge monopoly.
3. Mandating the use of alternatives is what I do every time that I build a new PC. I would rather deal with having a CPU that uses 50W more electricity than deal with $2000 CPU prices once Intel completely takes over the whole market. Sorry, top dog never gets my dollar, ever, for this reason alone.
4. GHash.IO is not being asked to implement a fee. Nobody cares about that at all. They are being asked to reduce their hashrate and they will comply or be shut down one way or another. That is a direct threat, and they would be wise to listen.
5. Asking users to leave the largest pools is actually the most effective method for distributing hashrate. It is a functional program that can never have any bugs and can not be hacked into so long as we can all view the hashrate of each pool. This is a never fail option that will always have some degree of success. It needs to be combined with a forced-distribution penalty for pools exceeding 10% of net hash on a block.
6. We already know the Bitcoin Foundation has been working against many of the principles of bitcoin for the last several months. They served a good purpose and are now obsolete and are infiltrated by former and current board members of the largest banks and credit agencies. GHash.IO making an alliance with BF is just another sign that they are not serving the best interest of bitcoin.
7. GHash.IO is positioning itself in some sort of leadership role at the "secret meeting of the central miners/bankers" in order to determine, without full transparency or decentralized decision-making, what the entire future of bitcoin mining will be for the entire world.
If you can't read between the lines of these evil "central miners/bankers", then you shouldn't be using bitcoin yet. We are still dealing with scammers like GHash.IO who feign ignorance when confronted about the notion that a centralized mining effort in itself is always damaging to bitcoin no matter how much their staff promise that they aren't evil. You've just marked yourself as an enemy of the entire financial future of the world. That's a really easy target to hit, and if I had the 1337 haxxorz skillz then I would permanently shut you down this second.
GHash.IO must be insane if they think we are stupid enough to fall for this bullshit. Do they know who they're fucking with?
GHASH.IO statement about the 51 % problem
Rapid growth of GHash.IO mining pool, seen over the past few months, has been driven by our determination to offer innovative solutions within the Bitcoin ecosystem combined with significant investment in resource. Our investment, participation and highly motivated staff confirm it is our intention to help protect and grow the broad acceptance of Bitcoin and categorically in no way harm or damage it. We never have and never will participate in any 51% attack or double spend against Bitcoin. Still, we are against temporary solutions, which could repel a 51% threat.
In any market, competition and innovation drives growth and that is particularly true in an emerging and disruptive environment such as Bitcoin. Successful and innovative companies cannot be expected to limit their growth or competitiveness as a direct result of their success. However, this is the situation we find ourselves in when faced with the community perception of the threat of a 51% attack on Bitcoin. Asking our users to not use our services or to use competing solutions is not conducive to fostering innovation. Implementing a pool fee to our pool contradicts principles of our operation from the very launch of GHash.IO. It also does not address the core issue only pushing the problem a few weeks or months down the road when another pool or perhaps GHash.IO again grows towards 51%.
We do fully recognise the concerns and possible threat posed by an entity with malicious intent taking control of enough mining power to exploit the 51% scenario, but we also have confidence and agree with the views expressed by the Bitcoin Foundation that any such exploitation or attack ”would be obvious it was happening, and pretty easy to defend against. The transparent nature of the blockchain provides unprecedented insight for all to investigate and report such behaviours.
We also recognise however that a long term preventative solution to the threat of a 51% attack does have to be found, the current situation we find ourselves in (essentially being punished for our success) is damaging not only to us, but to the growth and acceptance of Bitcoin long term, which is something we are all striving for.
To that effect we are in the process of arranging contact to the leading mining pools and Bitcoin Foundation to propose a ‘round table’ meeting of the key players with the aim of discussing and negotiating collectively ways to address the decentralisation of mining as an industry. Our aim is to do this quickly with a possible date coinciding with the CoinSummit Conference in London.
http://de.reddit.com/r/Bitcoin/comments/28aldt/ghashio_is_open_for_discussion/
good start. lets solve this for all times hopefully.
Rapid growth of GHash.IO mining pool, seen over the past few months, has been driven by our determination to offer innovative solutions within the Bitcoin ecosystem combined with significant investment in resource. Our investment, participation and highly motivated staff confirm it is our intention to help protect and grow the broad acceptance of Bitcoin and categorically in no way harm or damage it. We never have and never will participate in any 51% attack or double spend against Bitcoin. Still, we are against temporary solutions, which could repel a 51% threat.
In any market, competition and innovation drives growth and that is particularly true in an emerging and disruptive environment such as Bitcoin. Successful and innovative companies cannot be expected to limit their growth or competitiveness as a direct result of their success. However, this is the situation we find ourselves in when faced with the community perception of the threat of a 51% attack on Bitcoin. Asking our users to not use our services or to use competing solutions is not conducive to fostering innovation. Implementing a pool fee to our pool contradicts principles of our operation from the very launch of GHash.IO. It also does not address the core issue only pushing the problem a few weeks or months down the road when another pool or perhaps GHash.IO again grows towards 51%.
We do fully recognise the concerns and possible threat posed by an entity with malicious intent taking control of enough mining power to exploit the 51% scenario, but we also have confidence and agree with the views expressed by the Bitcoin Foundation that any such exploitation or attack ”would be obvious it was happening, and pretty easy to defend against. The transparent nature of the blockchain provides unprecedented insight for all to investigate and report such behaviours.
We also recognise however that a long term preventative solution to the threat of a 51% attack does have to be found, the current situation we find ourselves in (essentially being punished for our success) is damaging not only to us, but to the growth and acceptance of Bitcoin long term, which is something we are all striving for.
To that effect we are in the process of arranging contact to the leading mining pools and Bitcoin Foundation to propose a ‘round table’ meeting of the key players with the aim of discussing and negotiating collectively ways to address the decentralisation of mining as an industry. Our aim is to do this quickly with a possible date coinciding with the CoinSummit Conference in London.
http://de.reddit.com/r/Bitcoin/comments/28aldt/ghashio_is_open_for_discussion/
good start. lets solve this for all times hopefully.
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