Topic: Ghash.io has voluntary to suspend parts of service! - page 4. (Read 5377 times)

I understand your point, but i wouldn't make this noise if i didn't watch btce trollbox and marketmovement very closely today. Yes, if they decrease now in power i will shut up. If they further expand this talk will not stop, but intensify and also take prices down. Of course. Don't speculate on the ignorance of others. Only small fries get burned here. Large holders are in most cases familiar with the inner workings of btc and they will dump on you when they see btc-network is centralized.
Maybe majority of holders is ignorant, but the largest stashes are not ignorant at all. They wouldn't be the largest stashes otherwise. When the top 10% holders dump this party is over. No matter what the average Joe knows or cares about. I don't want to be alamist. But it is better to have this talk now than later. I sincerely hope this is not an issue anymore in a few weeks. But as of today all of the talk about this issue has actually driven down prices. Ghash.io already affected the value of btc in a negative way. It happend today. This is to be taken serious. I hate it to sit on exchange all day with the triggerfinger ready to sell. I really don't want to trade like that.

Everybody was hoping and talking about 2k$ per btc. I really can't see it hit 2k$ anymore with this situation.

Remember who else had lax security and wanted all your personal info? 

You are making something that isn't that big of deal into a big deal. Now you think that they had the power to crash the markets? Half the users of bitcoins don't even know what mining is, so I don't think they would crash markets. Stop with this FUD.

this really is not enough. I don't want to have to trust them. That release really translates to "we will continue to expand up to 50%" if you read it right.

Buying time is what they are doing. Nothing more. Until on the 4th of february every private miner gives up on them because they ask valid IDs and who wants to give up on his privacy and trust them with their IDs?

back in the day, when such things occurred, miners tried and did convince other miners to switch to other pools for greater good of bitcoin.

https://ghash.io/ghashio_press_release.pdf

Hey man thanks for opening up this thread.
I am really concerned right now and probably not the only one after reading the thread about the doublespends and whatnots. We need to get more attention to this topic at all costs. Also please ensure to get official statements by cex to this. I will email the support right after posting this. Post it on the forums, mail it to them and show that we as a network do not accept centralization. The whole mining on other pools stuff just makes it impossible to trace the the hashing power of cex.io in total. It is necessary to gain transparency because that is the only way to ensure this currency and plattform that bitcoin is can succeed in the long run.

Labcoin 2.0 is upon us and maybe people didnt see the signs last time but this time we as a network have to do better. People with deep knowledge about the network itself and also the financial aspects of this have to come up with a solution and if cex doesnt react, we have to find a constructive way of getting the power back to the people. Even with the next gen miners this is almost impossible because people pay mad prices for the ghashes on cex right now and I don't see how we can put an end to this because of the moneydriven greed people that think that they miss out today if they dont buy while they dont see that they ruin themself in the near future if they blow away all their money right now to make cex take over the network tomorrow. Please wake up people. Realize how this network works and don't give away your precious coins to people centralizing what was meant to be free and decentralized.

If someone in charge at ghashes.io reads this:
we see your pool becoming dangerous for the value of btc. If overstocks adoption didn't happen today your company would have caused a crash on the exchanges.

I am sure about this. I petition ghashes.io to suspend parts of their service for a short time for the greater good and for the networksecurity until other pools have managed to catch up with them.

Should they not do so: many will jump off btc as soon as ghash.io cross 45%
A full-on crash is sure to happen in case ghash.io gain 51% of the network.
This issue can cause btc to loose up to 95% of the current value. Just my own estimate.
I will surely sell ALL my btc if i see ghashes.io gain the 50% no matter what the other news are.

Just needed to be said. I would be grateful if someone from ghash.io would come on here and tell us at least that they recognize the issue as a problem and how they plan on handling it. Please do not underestimate this 51%-issue.

Thanks for everybody reading this and giving their opinion.