GHash is currently 44% ... What the fuck people 
Topic: does the bitcoin community trust GHash ? (Read 2140 times)
Is there a program to read the blockchain and see how many bitcoins are in it?
I mean, we could instantly know if there are any doublespends in it first hand!
I mean, we could instantly know if there are any doublespends in it first hand!
Even though I think it's not good for a pool to have that much power a pool is still made up from many individuals, not a single person. Individual miners will leave the pool before they can really do much harm, which will leave the pool much weaker should they decide to go rogue.
Still, I'd much rather see a better spread in pools. The problem is though that ghash just offers the best package deal so most miners will logically join ghash, and until a competing pool comes up I can't blame them.
Still, I'd much rather see a better spread in pools. The problem is though that ghash just offers the best package deal so most miners will logically join ghash, and until a competing pool comes up I can't blame them.
Trusting GHash not to double-spend is like trusting your government not to print more money 
No. Bitcoin is to be trustless and none should be needed aside from protocol security of which they (or any other entity with that much power) have excessive control over (51% related attack is aside from all the sheisty things they can and more than likely already do such as block favoritism.) Aside from that they stole in the past and will do so again in the future
Apparently, from the looks of things, the bitcoin community DOES trust GHash. And that is a big, big mistake. We'll probably wait for a massive double spend attack to do anything about it....
i don't know where you got that.. so many people are up in arms, to the point where ghash.io had to address the issue.
Address it, how? By saying, "We never have and never will participate in any 51% attack or double spend against bitcoin." Okay......
So many people up in arms? What matters are miners literally doing something about it.
I got a really bad feeling about this incident..! this should be cleared once for all , some kinda actions should be taken or we don't know maybe after a year or two this would turn a real pain in the a*s.
Apparently, from the looks of things, the bitcoin community DOES trust GHash. And that is a big, big mistake. We'll probably wait for a massive double spend attack to do anything about it....
i don't know where you got that.. so many people are up in arms, to the point where ghash.io had to address the issue.
Apparently, from the looks of things, the bitcoin community DOES trust GHash. And that is a big, big mistake. We'll probably wait for a massive double spend attack to do anything about it....
Relax they are back down to 32%.
No.
Every "relax" lead to a come back.
yeah this is what i was gonna say. always be paranoid when a company has that much potential to control what happens to your assets. i'm always on edge when it comes to something like this. the moment you relax is the moment someone can get aggressive.
This is a huge problem. Trustless currency that is dependent on the goodwill of a centralized entity?
The only centralized entity Bitcoin depends on is human greed.
No problem.
P.S. You do realize the OP is a troll and this whole thread is a lame attempt at FUD, don't you?
"Please just TRUST US"
Sounds about right. This is a huge problem. Trustless currency that is dependent on the goodwill of a centralized entity? Yeah, perfect.
Sounds about right. This is a huge problem. Trustless currency that is dependent on the goodwill of a centralized entity? Yeah, perfect.
Summed up perfectly.
Not only is it a huge problem theoretically speaking, this problem is on our doorstep right now and yet nothing changes..
We should not have to trust anybody, this is bitcoin
"Please just TRUST US"
Sounds about right. This is a huge problem. Trustless currency that is dependent on the goodwill of a centralized entity? Yeah, perfect.
Sounds about right. This is a huge problem. Trustless currency that is dependent on the goodwill of a centralized entity? Yeah, perfect.
No... I trust no human nor should you.
Indeed.
Trusting human nature is another story though.
Just as it did a several months ago when BTC Guild threatened 51%, and 3 years ago when Deepbit did, human greed took over and miners voluntarily moved to other pools to protect their assets.
This isn't even the first time with Ghash.
http://www.coindesk.com/bitcoin-miners-ditch-ghash-io-pool-51-attack/
Once again they're back to 31%.
No sweat.
No... I trust no human nor should you.
If only Bitcoin was originally created as Peercoin, we would have none of these discussions 
a part of me even wants all the PoW coins to crash and burn due to 51% issue because then Peercoin would get its chance to shine.
a part of me even wants all the PoW coins to crash and burn due to 51% issue because then Peercoin would get its chance to shine. .............
Why should we have to trust anyone?
Short answer: NO!!!!
Relax they are back down to 32%.
No.
Every "relax" lead to a come back.
i trust them as much as I trust anybody else with my money, VERY LITTLE. Its up to you to protect yourself!! I realize in this case there isn't much an individual can do but if your worried limit your exposure. Consider using an exchange that has stop loss orders. I am sure there are other good ways as well.
Steve
Steve
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