Topic: F2Pool is directly threatening Bitcoin's future - page 4. (Read 8186 times)

I have been thinking that the 1/2 ing will alter this behaviour.

12.5 coins per block will mean fees are more important.

If I win a block with 25.1 coins including fees.  The fees come to .4%

If I win a block with 12.9 coins including fees. The fees come to .8%

I think this issue may really change in July.
My fear is the pools will reject more transactions by wanting even higher fees.
I stopped mining at f2pool after studying the issues.
I may need to sell off my s-7 hash at ant pool since ant pool is making a shit ton of empty blocks.

I will need to study this more.

In the F2pool thread macbook-air(the person responsible for the antics at F2pool / discus fish and moderator of the F2pool thread) has selectively been deleting my posts.

The last ones he made an announcement that he was pruning anyone with a "red" trust rating, which dogie has left me neg trust because I called him out for several things, including the advice he gave to someone who recently purchased an S7 miner to only use 2 plugs per hash card which is a strict warranty violation. He told someone to do something which can cancel their warranty and if they had any kind of power issue it would be completely obvious what had been done. The guy just plain gives bad advice to many new miners and before I became involved with the SPV mining / empty block cause I was debating him and his antics so he left me bad trust. Every single person I have done deals with from OGnasty to Finsky, sidehack, phillip and so many others know how trustworthy I am so it isn't ever that I would be concerned about anyone doing business with me.
Then macbook deletes my posts, even the ones where I politely asked him to have a meeting with reputable members of the forum such as CK and Kano to discuss SPV and empty block mining and how it is harming the network.

The only reason any negative trust rating from dogie would ever bother me is if a nub who isn't familiar with dogie's bad advice took my trust rating as something they should go by when everyone knows how dogie is. Everyone knows he doesn't put any effort into research and has little electrical experience. He quotes numbers from manufacturers he likes.

Now I'd be wiling to bet he PMd macbook and offered that piece of advice.

But I don't care, and I will continue to warn people among my many other efforts against F2pool. I do not consider everyone who mines there an idiot as it is obvious to me many people just do not know, or do not understand what they are doing and how bad it is.

Unfortunately, there are also many people who do know, and continue out of greed. However nothing will deter people from learning and making a conscious decision to stay there or move to other pools.

Today I saw posts from new miners with many terahash who simply did not understand and after a bit of talking they did their own looking around, they checked previous posts by other forum members, and they went online to count the empty blocks for themselves when we had a huge backlog in the mempool and those smart new miners picked up right away what was going on and moved to kano.is.

That is exactly what is so fantastic about bitcoin. Each miner can have an impact with their hashrate.

Someone asked Johnybravo today about this. They said what can they do to help remove support from F2pool and Johny told them, you already have. When you move your hashrate to a pool who doesn't practice these things which harm bitcoin you have shown them. Believe it, every terahash counts and shows them we are not going to take this.

We are not going to continue to allow F2pool to hurt bitcoin. Things are looking bright and our baby is walking, albeit with trembling steps at times, and even with pools like F2pool who are so greedy and self-absorbed they will do anything to take, take, and take again by pushing the baby down, our little toddler jumps back up with each miner who pulls support from their evil, destructive grasp.

Tell your friends, tell everyone you know involved in bitcoin in any way, and push on because every miner and user needs your help. The only way bitcoin can succeed in the mainstream is if we show the world the bad actors are under control, the network is secure, and you can mine, buy, and spend bitcoin all day everyday without fear some evil Chinese pool is going to destroy what so many people have lived to build.

See my sig for details regarding how F2pool is threatening to send denial of service attacks to a small pool which will harm every miner in that pool.

Remember, this is a vote, and vote with your power no matter how big or small. Then they will listen, or go down, but you have the power to make it happen, even with very little hashrate, you can do it.

I like smaller  pools  and rather help them out and keep the mining  spread  out.

This is going to become a huge problem, if it isn't already. Miner pools/farms with lot of power are going to define terms on how its going to be and NO miners won't join the smaller pools, they want their ROI and don't care about what happens to future of Bitcoin. And the image above shows that not only them some of the others are doing it too.

Sorry mikefallen... could you add a little explanation to your post?
As I'm rather new and inexperienced I don't get what you mean by your images.

edit: explained below, thanks bitbaby

One of the 2 biggest pools, F2Pool, that controls over 22% of the Bitcoin hashrate (over 22% for the past month), is directly threatening Bitcoin's future.

Hash rates for the past month:
https://www.blocktrail.com/BTC/pools?resolution=1m

Firstly the obvious discussion about SPV mining and risking forks of the network.

Secondly, that SPV mining is generating empty blocks that confirm no new Bitcoin transactions.

Thirdly, they have now increased the transaction fee they use to accept transactions.

Result, one of the biggest Bitcoin pools, over 22% of Bitcoin blocks, is, again, reducing the amount of transactions they will accept.


Now if every F2Pool block was full, you could indeed argue that they are not reducing the number of transactions Bitcoin can support, but no that is not the case with F2Pool.

Seriously, people need to stop mining there and mine at some other smaller pool, for the sake of the future of Bitcoin.

Don't mine at my pool if you don't like me. I'm fine with that. But pick another smaller pool, not F2Pool