Topic: GHash.IO and double-spending against BetCoin Dice - page 11. (Read 112084 times)

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.

I don't get what you mean, what's lower? It says:

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.

It adds up, see:
https://blockchain.info/tx/faa7bc8b99376efa774045e79b42771fe668341b00290a61cd416992571c590d

But it sure is a strange account:
https://blockchain.info/address/199kVcHrLdouz9k9iW3jh1kpL7j9nLg7pn

Wow... Someone needs to look into this..

Edit: Seen that statement from Cex.io, you would think they would have safeguards in place for this sort of thing..

Agree, stupid decimal comma issue. But did you notice it still doesn't add up ?
959.69 comes in, 1000.01 goes out and balance is 0 ?!

1,000 =/= 1.000

I am following the btc address links on blockchaininfo and see something odd on https://blockchain.info/address/1AJyDV5LPSE2H3MMhu69sii6a3etD8nxeV

959.69 comes in and 1.01 goes out; final balance 0 ?!
Final balance should be 958.68 or not ?

You misunderstand completely.

That's the problem, people don't care enough - until they lose everything, but then it's too late - as has happened before.

Anyway, I've just read their "official" statement on the matter & am still mulling over the details, or lack of them. It's a shame that all the naysayers who were so quick to criticise Roadtrain, me & many others who pushed cex.io/ghash.io into responding to the subject/accusation, don't realise that it was being done for THEIR benefit & security. Had nobody said anything, nothing would have been done - no investigation, no statement - nothing.

I'll reserve judgement until I've studied a little deeper, but at least we are finally in the process of finding out what exactly went on, at last.

Yeah, maybe I was being too kind to them there.....

Point me to "answers". I didn't want answers cause I didn't ask, I wanted public opinions.

You must be very rich if hundreds BTC is change for you.

I'm of course interested how their internal investigation ends up. If you have any facts to throw at me, do it now. Thinking that a company making millions is honest by definition because it won't bother stealing is a false assumption.

PS. At least you didn't include your cex ref link in the post like the last time, you're making progress. You're biased, I doubt the discussion with you can be productive.

exactly... since you can't control those gigahashes to mine currencies of your choice or point to other pools...so yes, seems like centralized mining is what they are after... me thinks they want to maintain that since the higher the hashrate the better chances of finding blocks yes?

Are you serious? Your questions been answered several times. Both by cex.io and some reputable members of bitcoin community (not me, of course, as I'm not reputable). Yet we shall care because you think that ppl making millions will steal change from the beggars.

Just wait for investigation to finish.

@PatMan, in reality people don't seem to care much. They even come to this thread to post their referral links (I have reported them though).
I personally haven't even been registered with them until recently (just to be able to see their hashrate surpassing that of BTCGuild at one point).
I did my best to inform people by posting in several threads, but it seems these threads have a good chance of being flooded with tears in the end.

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.

So, finally cex.io/ghash.io have decided to respond. I'd like to think that this was purely due to pressure from the Bitcoin community, well done.

Cex.io/ghash.io investigating cex.io/ghash.io though - can't wait to see how that pans out It's like the police investigating the police  .

Still, this is their chance to silence the critics and clear their name, I only hope they take this opportunity to do so - and do it well.

Cex.io/ghash.io have found a niche market that appeals to noobs who want to get into mining but can't afford the hardware - it gives them an option to get into mining that they would never have had before, which is to be commended (even if it is at an extortionate price per G/hash). This section of users are inexperienced with Bitcoin & it's workings, and throw their trust (and hard earned cash) into cex.io/ghash.io blindly - not fully understanding the consequences of their actions. My concern is that if cex.io/ghash.io have already conned a Bitcoin company -and therefore Bitcoin itself - what is stopping them from doing it again to their users? One only has to look around to see other pools and wallet services that have done the same thing, services that had no scam accusations against them and seemed much more trustworthy than this one does.
Imagine if the worst happened & cex.io/ghash.io done a GBL & disappeared overnight - there would be a huge outcry from it's users all asking the same question - why weren't we warned? Why didn't anyone tell us about them?

Roadtrain has gone out on a limb, putting his reputation on the line & provided pretty solid evidence to substantiate the scam accusation, not for personal gain, but to inform the community of what he believes is going on - the least the community can do is warn users of cex.io/ghash.io of the current accusations until solid evidence/actions are taken by cex.io/ghash.io that either prove their innocence or that appropriate action has been taken against the employee who perpetrated the con (if any).

I urge cex/ghash to grab this opportunity to clear their name, I also urge the Bitcoin community to keep the pressure on them to do so - it can only be good for everyone.

Peace 

Well, it's not quite that simple either.
If miners are behaving responsibly, they will have spam filters in place to avoid mining flood/DDoS transactions such as those going to BetCoin Dice.
There are two ways to filter transactions:
The most obvious way is to reject them from the memorypool. This has the benefit of not using up resources upfront. It also means you will accept any conflicting (eg, double-spending) transaction, no matter how much later it appears. For the miner and Bitcoin network, this is all positive. For BetCoin Dice, it means they are very vulnerable.
The other way, would be to accept it to your memorypool, but blacklist it from mining or relaying. This consumes the miner's resources, and if they don't have a sufficiently large memorypool, could cause them to mine fewer legitimate transactions. But it protects the spammers like BetCoin Dice because the double-spend is once again rejected.
When I ran Eligius, I experimented with both solutions at different times, and decided the former (which is better for Bitcoin and the pool, but bad for the flooder) is likely the more reasonable solution.

But to conclude, if miners are acting in the interests of Bitcoin, it will rationally be rather easy for anyone to double-spend DDoS transactions.

If this is actually true then cex.io needs to give an explanation !! I wouldn't trust them if this is true!