Topic: [CLOSING] GHash.IO mining pool official page - page 47. (Read 149381 times)

Classic.. thx OoC

Well, where do you get your updates from?
Also, how is Blockchain.info out of date?

Unknown percentage is not that high. It's only that high on blockchain.info, which is out of date.

Instead try my blog (updated weekly, using weekly statistics)

http://organofcorti.blogspot.com/search/label/weeklypoolstatistics

or kinlo's site, which is live but averaged over the last 2016 blocks:

http://blockorigin.pfoe.be

That's not completely implausible, though the unknown percentage of found blocks has been that high for some time.

Out of interest I checked out (much) older posts from bitpop and these recent posts lead me to think one or more of the following:

1) He sold his account for 30 pieces of silver to some scumbag who wants to scam people
2) He's taken a liking to posting on here while tripping
3) He's drinking too much
4) He has personal issues WAY to complicated for us to understand
5) He's passionate about bitcoin but he's taking too much prozac
6) He really is a dick head

My guess is 3)

With a 29% of Unknown hash power , it 's not too hard to see where that hashrate has gone.

They just hid some PH there to make it look like they are doing something..

Yes my miners having this as a primary pool returned and had this back and forth for some hours.
As I have read Ghash has been ddosed as a warning
Think they got the message as the hash rate dropped

It's important and valuable that you've responded to the community's concerns - however personally I feel like much of the potential weight of your statement is rendered moot by the fact that you make the above statement which is partially false.

It can be interpreted as true, if we are to understand that "We" means "Our organization as directed by our management"

Yet, double spends were carried out using your pool by insiders with the explanation being that these were rouge employees not acting under the direction of management or the organization as a whole.

And therein lies the rub.

While it does not take a master logician to deduce that it would be far from organizational best interests to attempt a double spend or other exploit against the network based on a majority hashrate, the fact remains that bad actors inside your organization have done exactly that in the past.

Therefore, regardless of how benevolent a pool operator is deemed to be, having that much power in one place is inherently dangerous. Such logic is commonplace. No one man acting of his own congress generally has the ability to launch a nuclear weapon, for example.

The Nakamoto whitepaper specifically identifies Bitcoin as a trustless system. That's the beauty of it. Everything is independently verifiable. But, as we're all very aware, enough power in one place and all of a sudden trust is a very real part of it. It's not, per se, that we don't want to trust you - It's that by the nature of the ecosystem into which we have all taken part in, we don't want to have to trust you. Or anyone for that matter.

The mining community at large has long been aware of this, and I'm glad to hear that you're open to discussion. Lets keep it a trustless system. Show us your commitment to preserving the ecosystem by the metaphorical blockchain of your next steps.

I think getting on board with the GBT protocol would be simply gigantic in demonstrating this commitment. I know Luke-jr agrees with me, and I surmise many others do as well.

There also may be alternative measures you would be better suited to take - my understanding of the core-level structure of the protocol and your pool are not complete enough to say with authority exactly what you should do.

But more than you should say anything, you should do something, and it should be a step that makes it very clear your commitment to keeping the network trustless, and you should be very public and completely transparent about it.

And that is simply my two cents.

This has been ongoing since 2012 on mailing lists and IRC.
Please join and participate.
GHash.io is the only major pool that has not been involved in inter-pool relationships.

Please continue to mine wherever you mine now. No reason to return to GHash. It's good as it is now.

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.

Actually No.

Over the last four days Ghash's share of found blocks rests at 34% and over the past 24 hours at 29%

Poolside reported hashrate is 38PH/s down from 42PH/s.

I moved my miners away last week. But they don't have anywhere near 51% anymore.

In fact, most of the "OMG 51%" stories being published NOW, the gizmodo piece included and especially, are nothing more than uninitiated FUD.

I'm most likely keeping my miners off of Ghash for the foreseeable future. But the sky is not falling.

Do u accept these coins to sell hashes on Cex.IO ?

Thank you very much murdof !

Very well explained and interesting.

I understood none of this... Except the part about btc being 'loose'... how is btc 'loose'?

bitpop - I assume people are not replying to you as they just add you to their ignore list.

Instead of trying to tell them to die, maybe create a post that you will explain them the reasons why the have to move to other pools.

So guys. If you have more that 1TH then it is probably worth it to setup your own P2Pool server and mine there.
I have a guide (check my signature) on how to do this easily and you get to mine at the same time:
IXC, NMC, DVC, I0C, FSC.
That's more coins that you get merged mine from ghash.io.

Also you have full control on your profits. Your coins don't stay in a datacenter with ghash.io and then you withdraw them.
Let's assume that all big pools are fair and they don't "hide" bitcoins from you, you never know if ghash.io merge mines, I0C and FSC for example and keep them for themselves.
So take control of your miners and your profit and help distribute the network.

So why don't all people jump on P2Pool already?
Because of variance. That means that from ghash.io since it is a big pool currently you get payouts very often - small bits every minutes, on P2Pool you get payouts less often but they are bigger. So in the long run you end up getting a bigger profit from P2Pool than ghash.io.
There are benchmarks out there showing this e.g. https://bitcointalksearch.org/topic/benchmark-p2pool-vs-btcguild-vs-eligius-416933
Total from 1 Feb 2014: p2pool - BTC 13.4093 VS btcguild (PPLNS) - BTC 13.124 VS Eligius BTC 12.8506

Yes small differences but think about all the profit you will get from merged mined coins as well.
If more people jump on P2Pool then you will get smaller but more often payments.

After you setup your P2Pool you can always setup as a backup node another P2Pool or even CEX.io.

Fuck you losers

Greedy pieces of shit

well made the switch to btcguild here for the time being as I have some stuck up there mining at only 4ghs so will try to pull out what I have once I reach the min then head back to ghash

Are you back on Ghash.io now though? They had some server issues as far as I know.

I noticed when MY miners changed pool automatically when GHash could not either sent or receive
they turned to BTC guild and I saw that Guild went about one petahash more at that time from 12.4 to 13.5 at least.