Topic: Address 1AcAj9 that found couple of blocks in few hours, WTF ??? (Read 3331 times)

Look at all those double spends! https://blockchain.info/double-spends

many thanks for not having quoted the troll.

Dear falllling,

Try harder. I hope you're less of a disappointment to your parents than you are to me.  Somehow I doubt it though 

With my professional expertise in bitcoin speculation you should trust me, this is BAD.. I've seen this before  

Ghash.io is controlling that address, they are able to create double spends, its a 51% ATTACK!

somebody withdrew their balance and moved away from ghash with their 5petahash operation, and started solo mining. /story

somebody, with a huge probability, is bitFury: http://www.coindesk.com/bitfury-pulls-power-ghash-community-uproar/

So this is a "hooray, community self-balances to prevent 51% attacks" topic, TDM

[...] you should trust me [...]

Trust: -4: -1 / +0(0)
Warning: Trade with extreme caution!

There are double spends associated with the address, its very fishy..

and you can see the price is starting to crash on btc-e!

You're upset because he found 6.25% of the blocks over the last 4 days?  Why?

don't look good lads https://blockchain.info/blocks/Unknown%20with%201AcAj9p%20Address

This guy has "found" 36 blocks in the last 4 day's..

First transaction was from ghash.io and received 2,867.54415 BTC https://blockchain.info/address/1AcAj9p6zJn4xLXdvmdiuPCtY7YkBPTAJo?offset=200&filter=0

The end is nigh..

Did the double spend happen recently?

GHash is hiding their real power. GHash has MUCH more than 51%, i would say more than 60% !
Do remember,

they can low the rate to 4x% in short time by blocking some of their miners and shutting down their own units ,
they can then also raise back to 60% in seconds by just turnning on all their mine units,
why? because greed is part of human nature, goverments,organisations etc can simply take over GHash and destroy bitcoin!

undestroyable decentralized math-proof-of-stake money system? boom! > 60% double spends, confidences gone, bitcoin end!

The community has already appealed to GHash.io to voluntarily restrict their mining (as did BTCGuild before them) in order to avoid going over 40% and you see what they returned
some might say: Put another way, in 5 months when Ghash is at 100%, we can still have bitcoin, and it can still be working fine as a cryptocurrency
acoindr: No, it can't.
It would work in the technical sense, but not in the currency one. Money is a funny thing. To become a currency, something commonly accepted as having monetary value, requires confidence. This is true of any currency, but is especially of something like fiat paper, only backed by government decree, in contrast to gold which has been valued globally for thousands of years. Bitcoin, which isn't physical or backed by decree, is especially quirky in regards to confidence.

If people perceive the integrity of [bit]coins held as subject to too much risk of losing day to day value, due to double spend risk etc., they will not desire to hold them for longer periods of time, or eventually at all, meaning confidence could be lost in the currency completely.

I suspect people are not so concerned with the GHash situation because they appear to be on 'our side', and disrupting the network would run counter to their self-interest. However, there can be a limit to that threshold of trust.

I also believe people recognize there is a viable fallback in Litecoin, for example, if some short-term issue affects Bitcoin, because it's an entirely separate system. That's something I preached a lot about in the past. I would feel more nervous if there was only Bitcoin in which the community placed all its eggs.