Topic: GHash.IO and double-spending against BetCoin Dice - page 10. (Read 112080 times)
And we can't do anything about this?
I genuinely fear for everyone who's throwing their coins into this outfit, thinking their going to make a profit. Still, when the sh*t hits the fan - which it will - nobody can say they weren't warned......
So we have what Satoshi and everyone else warned exactly as the thing that should not happen.
The majority pool is dishonest.
This whole experiment can go sour pretty pretty fast.
The majority pool is dishonest.
This whole experiment can go sour pretty pretty fast.
in the KnC thread with eligius' recent trouble, posters were flocking to ghash because of their 0% fee.
In fact ghash is highly unreliable (consistently 1-4% block reject rate) with 3 rejects out of their past 100, and 7 hashrate fall episodes of between 500TH - 2000TH in their last 100 blocks
On the other hand, btcguild has a 3% fee, consistently has 5-week-average luck of 103%+/-0.5, has a low orphan rate <1%, has close to 100% uptime, and pays out orphan blocks to miners.
Btcguild has also had a higher luck than ghash.io for every published week (since ghash started sharing stats with organofcorti) despite the fact
In fact ghash is highly unreliable (consistently 1-4% block reject rate) with 3 rejects out of their past 100, and 7 hashrate fall episodes of between 500TH - 2000TH in their last 100 blocks
On the other hand, btcguild has a 3% fee, consistently has 5-week-average luck of 103%+/-0.5, has a low orphan rate <1%, has close to 100% uptime, and pays out orphan blocks to miners.
Btcguild has also had a higher luck than ghash.io for every published week (since ghash started sharing stats with organofcorti) despite the fact
Quote
The "luck" calculation is based on the number of shares per solved block - not shares per block accepted by the network
according to OOC basically saying things like bitcoin can't handle transactions, so lets block them.
I agree with this. This shouldn't be blocked nor discouraged. If this is causing problems to the Bitcoin network, then, fix them! It is like an app that crash when you click on a button and the developer place a text below the button that reads "Clicking this button is not good for the app" instead of just fixing the f***ing code. I know that on this case it may not be easy, but don't try to ignore what sooner or later will happen anyway. 
Oh wow. This is a mess.
Something needs to be done.
They are the biggest pool right now at 29%.
https://blockchain.info/pools
Something needs to be done.
They are the biggest pool right now at 29%.
https://blockchain.info/pools
Don't worry it's not Bitcoins fault, it's just it's shitty design that will collapse upon itself. Maybe Gavin should of worked on this along with other architecture issues instead of the wonderful useless update.
Oh wow. This is a mess.
Something needs to be done.
They are the biggest pool right now at 29%.
https://blockchain.info/pools
Something needs to be done.
They are the biggest pool right now at 29%.
https://blockchain.info/pools
lets get to the bottom line here, it is not about BetCoin failure, we all agree on that, the whole thing is about someone holding 24% of the network hash power and using this position with bad attention.
it worries me when they get close to 51%, then the question is if they are doing it now, what will they do with 51% and that what matters to me at this point.
what the cumunity can do about it, I guess nothing, they are a private pool , they will be adding more and more power this is no question, in the classic case, miners can always switch to other pools when they feel the threat but what is the solution when some big private pool does this.
it worries me when they get close to 51%, then the question is if they are doing it now, what will they do with 51% and that what matters to me at this point.
what the cumunity can do about it, I guess nothing, they are a private pool , they will be adding more and more power this is no question, in the classic case, miners can always switch to other pools when they feel the threat but what is the solution when some big private pool does this.
How is this not about Bitcoins failure? Bitcoins flawed system allowed for this to happen.
which is to be commended
I haven't seen anything to commend except their business savvy:Hashrate on their service is >2x more expensive than actually buying the hardware— more like 10x the price of stuff still in pre-order, and will never make a profit at those prices according to the calculator on their site. By doing so they centralize mining and create a moral hazard with apparent results like the one's we've seen here.
That's if they even have any hardware. You can never really tell with these services if they actually own any mining gear or not.
You can download the directors names/address from:
http://wck2.companieshouse.gov.uk//wcframe?name=accessCompanyInfo
for free - just enter the company number - 08757996.
Both directors are Ukranian, and have same surname.
And personal address looks odd. In that from google streetview looks like a house but address looks like an accountants (which is now allowed in the UK).
Also birthdays look odd in that they are 4 months apart - so guess cousins?
Thank you. And Oleksandr isn't surname, that's first name, its Alexander wrote in translit and in Ukrainian dialect of Russian language http://wck2.companieshouse.gov.uk//wcframe?name=accessCompanyInfo
for free - just enter the company number - 08757996.
Both directors are Ukranian, and have same surname.
And personal address looks odd. In that from google streetview looks like a house but address looks like an accountants (which is now allowed in the UK).
Also birthdays look odd in that they are 4 months apart - so guess cousins?
Also every possibility that it is a ponzi scheme?
Is a great business for being a Ponzi. Pretend you have hashing power on Ghash.io.
Get money up front, payout with the money coming in. And disappear at the point it starts going wrong.
Only cost is a web site - and some way to convince Ghash.io not to speak out (that is the one bit that does not make sense).
You can download the directors names/address from:
http://wck2.companieshouse.gov.uk//wcframe?name=accessCompanyInfo
for free - just enter the company number - 08757996.
Both directors are Ukranian, and have same surname.
And personal address looks odd. In that from google streetview looks like a house but address looks like an accountants (which is now allowed in the UK).
Also birthdays look odd in that they are 4 months apart - so guess cousins?
Could not read name on company address - will walk past tomorrow! But looked like an accountant or similar.
Is a great business for being a Ponzi. Pretend you have hashing power on Ghash.io.
Get money up front, payout with the money coming in. And disappear at the point it starts going wrong.
Only cost is a web site - and some way to convince Ghash.io not to speak out (that is the one bit that does not make sense).
You can download the directors names/address from:
http://wck2.companieshouse.gov.uk//wcframe?name=accessCompanyInfo
for free - just enter the company number - 08757996.
Both directors are Ukranian, and have same surname.
And personal address looks odd. In that from google streetview looks like a house but address looks like an accountants (which is now allowed in the UK).
Also birthdays look odd in that they are 4 months apart - so guess cousins?
Could not read name on company address - will walk past tomorrow! But looked like an accountant or similar.
So could the entire operation be a scam?
As interesting as making a market for mining power is... could the entire thing be one BIG con?
They hold all the mining equipment and the entire market cap of the GHS/BTC pair, correct?
What is stopping them from 'pulling the plug' on the whole thing - taking everyone's BTC and mining power with them?
Please correct me if I'm wrong...
As interesting as making a market for mining power is... could the entire thing be one BIG con?
They hold all the mining equipment and the entire market cap of the GHS/BTC pair, correct?
What is stopping them from 'pulling the plug' on the whole thing - taking everyone's BTC and mining power with them?
Please correct me if I'm wrong...
It was a metaphor dude.
This was one con that, surprisingly, the CIA, FBI, DOJ, DHS, IRS or any other stasi type outfit had nothing to do with. It was a con solely perpetrated by Ghash/CEX.IO - pure & simple.
lets get to the bottom line here, it is not about BetCoin failure, we all agree on that, the whole thing is about someone holding 24% of the network hash power and using this position with bad attention.
I'm not sure it's that simple.BetCoin Dice is currently* a DDoS attack against Bitcoin. GHash.IO's actions here could be construed as a kind of self-defence.
* BetCoin has indicated they will correct this problem eventually.
Luke doesn't like SD betting sites and has 3 times now attempted to block them:
1) His "special I can't tell anyone mining on my pool" rules for excluding transactions long ago on his pool
2) The "dust" changes to bitcoind to block SD confirms
3) Address reuse being blocked as a so called bad thing for bitcoin which will of course stop SD type sites from functioning
... and here giving excuses for a pool to attempt double spends.
I'd love to see his reaction if the one losing due to the double spend was himself.
That would be absolutely hysterical.
I really don't follow why anyone wouldn't see the stupidity of this guy basically saying things like bitcoin can't handle transactions, so lets block them.
Luke there's a reason you got voted last in the Bitcoin Foundation election (and got way less votes than anyone else) and that's coz you do crap like this and have been doing it for a very long time.
Jesus doesn't love you, you won't burn in hell coz God doesn't exist and you really better stop believing those voices you hear that say "everything you do is correct coz God loves you"
(that's the sort of thing catholic priests think as they rape altar boys)
so they are telling that NO ONE from ghash/cex has recognized that ALL btc was send to ONE adress for THREE days? 
I am leaning towards the idea that blockchain.info is showing false information. Just look at the transactions that are going to the 8000 BTC 199kVcHrLdouz9k9iW3jh1kpL7j9nLg7pn address. They all show 1000, but below it the total BTC moved is way lower.
I don't get what you mean, what's lower? It says:
Quote
Transactions
No. Transactions 8
Total Received 8,000 BTC
Final Balance 8,000 BTC
No. Transactions 8
Total Received 8,000 BTC
Final Balance 8,000 BTC
Now click on the first incoming address https://blockchain.info/address/1LaourP34PKhBF3X5gK9ZoTABWUyQkCvxB and look at all the transactions going to 199kVcHrLdouz9k9iW3jh1kpL7j9nLg7pn. Those outgoing transactions each total over 1000 BTC, but below it is a way lower amount (in red). Strange! Must be a bug on blockchain.info.
Looking at http://blockexplorer.com/address/199kVcHrLdouz9k9iW3jh1kpL7j9nLg7pn this might explain: Looks like blockchain.info has problems with multiple occurances of the same address, for example look at how many times 1Mczj3eZzaRiAETJY9YzC5h7cduEDhnBHs occurs on http://blockexplorer.com/address/199kVcHrLdouz9k9iW3jh1kpL7j9nLg7pn
I am leaning towards the idea that blockchain.info is showing false information. Just look at the transactions that are going to the 8000 BTC 199kVcHrLdouz9k9iW3jh1kpL7j9nLg7pn address. They all show 1000, but below it the total BTC moved is way lower.
I don't get what you mean, what's lower? It says:
Quote
Transactions
No. Transactions 8
Total Received 8,000 BTC
Final Balance 8,000 BTC
No. Transactions 8
Total Received 8,000 BTC
Final Balance 8,000 BTC
Now click on the first incoming address https://blockchain.info/address/1LaourP34PKhBF3X5gK9ZoTABWUyQkCvxB and look at all the transactions going to 199kVcHrLdouz9k9iW3jh1kpL7j9nLg7pn. Those outgoing transactions each total over 1000 BTC, but below it is a way lower amount (in red). Strange! Must be a bug on blockchain.info.
Looking at http://blockexplorer.com/address/199kVcHrLdouz9k9iW3jh1kpL7j9nLg7pn this might explain: Looks like blockchain.info has problems with multiple occurances of the same address, for example look at how many times 1Mczj3eZzaRiAETJY9YzC5h7cduEDhnBHs occurs on http://blockexplorer.com/address/199kVcHrLdouz9k9iW3jh1kpL7j9nLg7pn
It's very strange, and it is still receiving a lot from ghash - probably a large miner (or ghash itself).
It needs an explanation. Cause there's a contradiction.
Notice also that 6 of 8 inputs were at the exact 3-day period we are talking about.
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