ghash.io is becoming SHOCKINGLY AGGRESSIVE NOW, closing in 45% - page 5.

Marinowner

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Quote from: NewLiberty on January 09, 2014, 01:23:13 PM

Quote from: justusranvier on January 09, 2014, 12:59:33 PM

Quote from: btcdrak on January 09, 2014, 12:52:33 PM

They released a statement here: https://ghash.io/ghashio_press_release.pdf

If they do indeed start allowing CEX.IO users to choose their own pool that will greatly improve the situation.

Though they will still control the ability to choose, and the visibility and implementation of the choice.
The even more encouraging element was the "no new miners in our pool" elements.

no registrations any more or no solo miners who connect to pool?

NewLiberty

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Gresham's Lawyer

Quote from: justusranvier on January 09, 2014, 12:59:33 PM

Quote from: btcdrak on January 09, 2014, 12:52:33 PM

They released a statement here: https://ghash.io/ghashio_press_release.pdf

If they do indeed start allowing CEX.IO users to choose their own pool that will greatly improve the situation.

Though they will still control the ability to choose, and the visibility and implementation of the choice.
The even more encouraging element was the "no new miners in our pool" elements.

NewLiberty

legendary

Activity: 1204

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Gresham's Lawyer

Quote from: ?? on ??

You guys are either really paranoid ..
Or I'm overly naive ..

Seems to me they've got a good and working business model ..
They have no incentive to kill the goose ..

Triff ..

Much money can made on both upside and downside.
Even more when you know ahead of time which way it will go and why.

Giving such control to anyone is not good for everyone, that is why some are not so happy about central banking.
If folks wanted to have such control in the hands of so few, they should use dollars.

Unless this is resolved in a better way, it removes much of the value of project bitcoin.

mb300sd

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Drunk Posts

Quote from: btcdrak on January 09, 2014, 01:01:20 PM

0% fees will destroy competition and they can afford to do it because they are getting revenue from other sources, this cannot be said about the other pools. BTCGuild makes a little selling ASICMiner Block Eruptors but basically, 0% fees are the death of competition because the majority of miners are not altruistic, they are doing it for the money.

Eligius has 0% fees, and PPS. Switch now, and USE GBT!

HellDiverUK

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Quote from: btcdrak on January 09, 2014, 01:01:20 PM

BTCGuild makes a little selling ASICMiner Block Eruptors

Unless they're in a time warp, they don't.

btcdrak

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0% fees will destroy competition and they can afford to do it because they are getting revenue from other sources, this cannot be said about the other pools. BTCGuild makes a little selling ASICMiner Block Eruptors but basically, 0% fees are the death of competition because the majority of miners are not altruistic, they are doing it for the money.

justusranvier

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Quote from: btcdrak on January 09, 2014, 12:52:33 PM

They released a statement here: https://ghash.io/ghashio_press_release.pdf

If they do indeed start allowing CEX.IO users to choose their own pool that will greatly improve the situation.

Marinowner

newbie

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Quote from: btcdrak on January 09, 2014, 12:52:33 PM

They released a statement here: https://ghash.io/ghashio_press_release.pdf

independent mining facilities are people who with their mining gear connect to ghash pool or?

Dafar

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dafar consulting

Quote from: btcdrak on January 09, 2014, 12:52:33 PM

They released a statement here: https://ghash.io/ghashio_press_release.pdf

I wouldn't believe anything they say. Obviously they won't attack the network and devalue bitcoin but they still want to have majority hashing power. They are pretty much congratulating themselves in that letter and they won't introduce trading fees like BTC Guild did to make miners move to other pools.

Just look at their fucking logo... they look and sound like a typical villain corporation

btcdrak

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They released a statement here: https://ghash.io/ghashio_press_release.pdf

withnail

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Quote from: ?? on ??

You guys are either really paranoid ..
Or I'm overly naive ..

I think it is the latter

FractalUniverse

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Quote from: Delarock on January 09, 2014, 10:15:33 AM

I know I'm jumping in on this halfway and I'm going to get caught up ASAP, but all morning I've been wondering the same thing... What have the OTHER pools been doing to make it more attractive for miners to leave GHash.io? Why are all the efforts focused on getting people to leave?

pool i use - triplemining is giving part of the fees back in jackpot, so it has some attractivity. But problem is the overall hashrate is not too big and it creates wicked circle, because with rising difficulty people migrate to large pools, just because they find blocks much faster.
-and it can take days with smaller pools to get block

Thats why you get some big pools approaching 50% time to time. I don't think its much about fees, but more likely the reward waiting time.

Buffer Overflow

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Quote from: dg2010 on January 09, 2014, 11:15:42 AM

If these arse-holes had a fucking brain they would self limited their hashing power to a sensible number like 35-40% of the network to ensure we don't have a problem like today as they creep onto 50%.

IMO any single entity controlling > 1% is a concern.

mb300sd

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Drunk Posts

Quote from: klondike_bar on January 09, 2014, 11:07:31 AM

Quote from: Delarock on January 09, 2014, 10:15:33 AM

I know I'm jumping in on this halfway and I'm going to get caught up ASAP, but all morning I've been wondering the same thing... What have the OTHER pools been doing to make it more attractive for miners to leave GHash.io? Why are all the efforts focused on getting people to leave?

eligius has 0% fees, a simple structure, NMC merged mining, and also shared the tx fees. I moved 600Gh there already

Don't forget GBT, so even with 51% they couldn't attack the network.

Although the raspi on my bitfury can't seem to handle it Sad

justusranvier

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Quote from: dg2010 on January 09, 2014, 11:15:42 AM

If these arse-holes had a fucking brain they would self limited their hashing power to a sensible number like 35-40% of the network to ensure we don't have a problem like today as they creep onto 50%.

People are buying up mining shares on cex.io for above their NPV because they expect to profit from selling them to a greater fool later.

That situation doesn't exactly create the best set of incentives for good pool behaviour.

dg2010

sr. member

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If these arse-holes had a fucking brain they would self limited their hashing power to a sensible number like 35-40% of the network to ensure we don't have a problem like today as they creep onto 50%.

klondike_bar

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ASIC Wannabe

Quote from: Delarock on January 09, 2014, 10:15:33 AM

I know I'm jumping in on this halfway and I'm going to get caught up ASAP, but all morning I've been wondering the same thing... What have the OTHER pools been doing to make it more attractive for miners to leave GHash.io? Why are all the efforts focused on getting people to leave?

eligius has 0% fees, a simple structure, NMC merged mining, and also shared the tx fees. I moved 600Gh there already

Delarock

sr. member

Activity: 388

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I know I'm jumping in on this halfway and I'm going to get caught up ASAP, but all morning I've been wondering the same thing... What have the OTHER pools been doing to make it more attractive for miners to leave GHash.io? Why are all the efforts focused on getting people to leave?

server

legendary

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1 BTC =1 BTC

other pools can lower their rates...

otherwise BGuild etc.. will follow the Deepbit route.

But I think pool operators only care about their % and not about the network.

btcdrak

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Quote from: descarte on January 09, 2014, 10:03:16 AM

gavin should do a patch sooner rather than later.

What could he do?

Topic: ghash.io is becoming SHOCKINGLY AGGRESSIVE NOW, closing in 45% - page 5. (Read 65476 times)