[4+ EH] Slush Pool (slushpool.com); Overt AsicBoost; World First Mining Pool - page 310.

nottm28

hero member

Activity: 574

Merit: 500

Quote from: organofcorti on June 17, 2014, 07:34:56 AM

Short answer - no, GHash.IO hasn't "broken the 50% barrier". I'd be more worried abut the fact it even got to 40% of the network. It tells me that many - maybe most - miners are very short sighted.

Human nature is to be greedy alas. Selflessness is only taught (and by a diminishingly few parents).

organofcorti

donator

Activity: 2058

Merit: 1007

Poor impulse control.

Quote from: Donkeycongo on June 17, 2014, 12:47:07 PM

Quote from: organofcorti on June 17, 2014, 07:34:56 AM

Quote from: Mentalfloss on June 17, 2014, 06:53:54 AM

Quote from: bspurloc on June 16, 2014, 09:35:40 PM

Quote from: Mentalfloss on June 16, 2014, 05:33:00 PM

"The sky is falling!"

http://arstechnica.com/security/2014/06/bitcoin-security-guarantee-shattered-by-anonymous-miner-with-51-network-power/

old news of falling skies!

Not so much, GHash has broken the 50% barrier for sustained periods of time. The old news was they were a threat to but promised never to grow that much. Remember the public statements from them and putting a halt to independent miners joining? The unwritten news is they lied through their teeth and continued to add hashing power to their private stash. You do recall they were already caught once performing a double spend attack, correct? It is new news, a current problem if they continue unchecked.

Every pool has broken the 50% barrier every block. If you don't get the next block, then you're still at 50% for two blocks. On a daily average, Ghash never got over 50% of the network. On a 160 moving average, GHash.IO might have just touched 50% once for an hour or so.

Short answer - no, GHash.IO hasn't "broken the 50% barrier". I'd be more worried abut the fact it even got to 40% of the network. It tells me that many - maybe most - miners are very short sighted.

Im guessing the real short answer is You can type but cannot read

http://www.cryptocoinsnews.com/news/bitcoin-mining-pool-ghash-io-is-unapologetic-risk-theoretical-51-attack

You should try it or you are self proving your theory of short sight

I have no idea what you mean. What does that article have to do with anything I wrote?

Donkeycongo

member

Activity: 84

Merit: 10

Quote from: organofcorti on June 17, 2014, 07:34:56 AM

Quote from: Mentalfloss on June 17, 2014, 06:53:54 AM

Quote from: bspurloc on June 16, 2014, 09:35:40 PM

Quote from: Mentalfloss on June 16, 2014, 05:33:00 PM

"The sky is falling!"

http://arstechnica.com/security/2014/06/bitcoin-security-guarantee-shattered-by-anonymous-miner-with-51-network-power/

old news of falling skies!

Not so much, GHash has broken the 50% barrier for sustained periods of time. The old news was they were a threat to but promised never to grow that much. Remember the public statements from them and putting a halt to independent miners joining? The unwritten news is they lied through their teeth and continued to add hashing power to their private stash. You do recall they were already caught once performing a double spend attack, correct? It is new news, a current problem if they continue unchecked.

Every pool has broken the 50% barrier every block. If you don't get the next block, then you're still at 50% for two blocks. On a daily average, Ghash never got over 50% of the network. On a 160 moving average, GHash.IO might have just touched 50% once for an hour or so.

Short answer - no, GHash.IO hasn't "broken the 50% barrier". I'd be more worried abut the fact it even got to 40% of the network. It tells me that many - maybe most - miners are very short sighted.

Im guessing the real short answer is You can type but cannot read

http://www.cryptocoinsnews.com/news/bitcoin-mining-pool-ghash-io-is-unapologetic-risk-theoretical-51-attack

You should try it or you are self proving your theory of short sight

organofcorti

donator

Activity: 2058

Merit: 1007

Poor impulse control.

Quote from: Mentalfloss on June 17, 2014, 06:53:54 AM

Quote from: bspurloc on June 16, 2014, 09:35:40 PM

Quote from: Mentalfloss on June 16, 2014, 05:33:00 PM

"The sky is falling!"

http://arstechnica.com/security/2014/06/bitcoin-security-guarantee-shattered-by-anonymous-miner-with-51-network-power/

old news of falling skies!

Not so much, GHash has broken the 50% barrier for sustained periods of time. The old news was they were a threat to but promised never to grow that much. Remember the public statements from them and putting a halt to independent miners joining? The unwritten news is they lied through their teeth and continued to add hashing power to their private stash. You do recall they were already caught once performing a double spend attack, correct? It is new news, a current problem if they continue unchecked.

Every pool has broken the 50% barrier every block. If you don't get the next block, then you're still at 50% for two blocks. On a daily average, Ghash never got over 50% of the network. On a 160 block moving average, GHash.IO might have just touched 50% once for an hour or so.

Short answer - no, GHash.IO hasn't "broken the 50% barrier". I'd be more worried abut the fact it even got to 40% of the network. It tells me that many - maybe most - miners are very short sighted.

Mentalfloss

newbie

Activity: 47

Merit: 0

Quote from: bspurloc on June 16, 2014, 09:35:40 PM

Quote from: Mentalfloss on June 16, 2014, 05:33:00 PM

"The sky is falling!"

http://arstechnica.com/security/2014/06/bitcoin-security-guarantee-shattered-by-anonymous-miner-with-51-network-power/

old news of falling skies!

Not so much, GHash has broken the 50% barrier for sustained periods of time. The old news was they were a threat to but promised never to grow that much. Remember the public statements from them and putting a halt to independent miners joining? The unwritten news is they lied through their teeth and continued to add hashing power to their private stash. You do recall they were already caught once performing a double spend attack, correct? It is new news, a current problem if they continue unchecked.

Donkeycongo

member

Activity: 84

Merit: 10

Quote from: bspurloc on June 16, 2014, 09:40:51 PM

Quote from: Donkeycongo on June 16, 2014, 12:56:53 AM

Quote from: Searing on June 16, 2014, 12:49:01 AM

Quote from: hoeslayer on June 15, 2014, 11:45:54 PM

Omg longest block ever..12hours.... I've seen long blocks but now I am trying out cloud hashing for 24 hour and now seems a waste...sadden I am. ..

heh longest block ever heh

I THINK the longest block was 26 hrs if i remember correctly

newbies...soooo cute (stay away from BFL!)

Searing

Cloud hashing startles me, how and why would a company buy all the hardware and infrastructure just to sell the hash power at less than what the coins are worth, if they are selling the hash pwr at higher rate than the coins are worth, then why would someone pay for the hash pwr.

Am I missing something here, or is it a gamble on the company selling the power that the hardware is directed at a pool and it has a stupid long round/s?

I'm thinking the money people are sending them is paying for the Equipment and power to run them, all the other stuff doesnt much matter. They can then skim 2% of the hashing power from each machine and go completely unnoticed to pay for a few Porsche's.

Yeah it didn't seem there was a fair exchange and a rort had to be somewhere. Combine that with CEX.io only being able to point the miners at GHash pool, seems like an easy way government to get into mining and fook it up for us. Even if GHash lost control of their pool or sold it could fook it. Having the hardware in the hands of individual miners seems the only way for it not to go that way

bspurloc

hero member

Activity: 569

Merit: 500

Quote from: Donkeycongo on June 16, 2014, 12:56:53 AM

Quote from: Searing on June 16, 2014, 12:49:01 AM

Quote from: hoeslayer on June 15, 2014, 11:45:54 PM

Omg longest block ever..12hours.... I've seen long blocks but now I am trying out cloud hashing for 24 hour and now seems a waste...sadden I am. ..

heh longest block ever heh

I THINK the longest block was 26 hrs if i remember correctly

newbies...soooo cute (stay away from BFL!)

Searing

Cloud hashing startles me, how and why would a company buy all the hardware and infrastructure just to sell the hash power at less than what the coins are worth, if they are selling the hash pwr at higher rate than the coins are worth, then why would someone pay for the hash pwr.

Am I missing something here, or is it a gamble on the company selling the power that the hardware is directed at a pool and it has a stupid long round/s?

I'm thinking the money people are sending them is paying for the Equipment and power to run them, all the other stuff doesnt much matter. They can then skim 2% of the hashing power from each machine and go completely unnoticed to pay for a few Porsche's.

bspurloc

hero member

Activity: 569

Merit: 500

Quote from: whispy on June 16, 2014, 09:56:09 AM

I knew it would happen.
I had a 2 hour power cut this morning 16 hours into the block.
Of course the block was found after 18 hours and I received 0 reward.
Doesn't seem fair that I used 16 hours worth of electricity for nothing and yet somebody who hopped in to Slush one hour before the block got a full reward Undecided

the only thing u should be mad at is the person who jumped in 1 hour before, HAD POWER and u did not.
Otherwise there are other pools you can join to alleviate this booboo

bspurloc

hero member

Activity: 569

Merit: 500

Quote from: Mentalfloss on June 16, 2014, 05:33:00 PM

"The sky is falling!"

http://arstechnica.com/security/2014/06/bitcoin-security-guarantee-shattered-by-anonymous-miner-with-51-network-power/

old news of falling skies!

OMG what with our luck! slush broke something! hope he fixes it. omg the hash rate, omg the pay outs, omg!

Mentalfloss

newbie

Activity: 47

Merit: 0

"The sky is falling!"

http://arstechnica.com/security/2014/06/bitcoin-security-guarantee-shattered-by-anonymous-miner-with-51-network-power/

Donkeycongo

member

Activity: 84

Merit: 10

Quote from: Skydaddy on June 16, 2014, 10:22:24 AM

Quote from: whispy on June 16, 2014, 09:56:09 AM

I knew it would happen.
I had a 2 hour power cut this morning 16 hours into the block.
Of course the block was found after 18 hours and I received 0 reward.
Doesn't seem fair that I used 16 hours worth of electricity for nothing and yet somebody who hopped in to Slush one hour before the block got a full reward Undecided

Fortunately it took less than 4 hours for the next round to result in a resolved block, so you got off easy on this one. Just think of it as a 24 hr block resolution and move forward. The likelihood of you having a power outage at just the wrong moment is miniscule. It just as easily could have been that your power was also restored in just enough time for you to have benefitted from a short call on the block.

Bahahahahaa way to Glass half full it. Cheesy

Skydaddy

newbie

Activity: 22

Merit: 0

Quote from: whispy on June 16, 2014, 09:56:09 AM

I knew it would happen.
I had a 2 hour power cut this morning 16 hours into the block.
Of course the block was found after 18 hours and I received 0 reward.
Doesn't seem fair that I used 16 hours worth of electricity for nothing and yet somebody who hopped in to Slush one hour before the block got a full reward Undecided

Fortunately it took less than 4 hours for the next round to result in a resolved block, so you got off easy on this one. Just think of it as a 24 hr block resolution and move forward. The likelihood of you having a power outage at just the wrong moment is miniscule. It just as easily could have been that your power was also restored in just enough time for you to have benefitted from a short call on the block.

whispy

newbie

Activity: 44

Merit: 0

I knew it would happen.
I had a 2 hour power cut this morning 16 hours into the block.
Of course the block was found after 18 hours and I received 0 reward.
Doesn't seem fair that I used 16 hours worth of electricity for nothing and yet somebody who hopped in to Slush one hour before the block got a full reward Undecided

kcal63

full member

Activity: 140

Merit: 101

What you are missing about cloud hashing is that most companies are using the profit from hardware sales (norm in the 20% - 50% range) to fund not only the data centers but their own mining equipment. The assured payback from sale of equip (and even better pre-sales) allows companies to use this cash to max effect (both building new hardware and mining) the cost of data hosting and electricity is usually built into the price of the hardware and nearly all such large operations take place in low power cost areas (South China, Pacific Northwest , Utah, Romania etc.) Most such equip is sold at a rate that is modestly profitable to the buyer at current difficulty rates and prices but very well may not be so in the future (with the future in this business often being next month).
Just my 2 cents.

Donkeycongo

member

Activity: 84

Merit: 10

Quote from: Searing on June 16, 2014, 12:49:01 AM

Quote from: hoeslayer on June 15, 2014, 11:45:54 PM

Omg longest block ever..12hours.... I've seen long blocks but now I am trying out cloud hashing for 24 hour and now seems a waste...sadden I am. ..

heh longest block ever heh

I THINK the longest block was 26 hrs if i remember correctly

newbies...soooo cute (stay away from BFL!)

Searing

Cloud hashing startles me, how and why would a company buy all the hardware and infrastructure just to sell the hash power at less than what the coins are worth, if they are selling the hash pwr at higher rate than the coins are worth, then why would someone pay for the hash pwr.

Am I missing something here, or is it a gamble on the company selling the power that the hardware is directed at a pool and it has a stupid long round/s?

Searing

copper member

Activity: 2898

Merit: 1465

Clueless!

Quote from: hoeslayer on June 15, 2014, 11:45:54 PM

Omg longest block ever..12hours.... I've seen long blocks but now I am trying out cloud hashing for 24 hour and now seems a waste...sadden I am. ..

heh longest block ever heh

I THINK the longest block was 26 hrs if i remember correctly

newbies...soooo cute (stay away from BFL!)

Searing

hoeslayer

newbie

Activity: 5

Merit: 0

Omg longest block ever..12hours.... I've seen long blocks but now I am trying out cloud hashing for 24 hour and now seems a waste...sadden I am. ..

Mudbankkeith

hero member

Activity: 868

Merit: 1000

Quote from: mstrongbow on June 14, 2014, 09:31:35 PM

Quote from: retrojka on June 14, 2014, 09:13:03 PM

Quote from: guitarplinker on June 14, 2014, 08:09:33 PM

Quote from: kkurtmann on June 14, 2014, 01:44:54 PM

Quote from: guitarplinker on June 14, 2014, 11:08:37 AM

it takes months to achieve 0.01 BTC

hope you got free electricity

Nope, just block erupters. Grin

They don't do much anymore, but paired with a Raspberry Pi don't take more than ~12W for 2.2GH/s.

Damn. That's a lot electricity for only 2.2gh/s

Could be worse...could be mining with a Cube! lol

Try Unobtanium, instead of BTC
It still won't ROI but it will earn coins quicker.

I have some erupters pointed at:- http://miners-point.com:3333

Its their last chance before final switch off.

Also a useful backup pool ( 3rd choice on my S1) in case of BTC network failure.

Edit:- The wallet is more difficult to set up, but is based on the same (sha256) as BTC

mstrongbow

sr. member

Activity: 322

Merit: 250

3D Printed!