GHash.IO is standing at 51% - page 6.

Parazyd

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Space Lord

Quote from: ljudotina on June 13, 2014, 05:21:32 AM

Quote from: newIndia on June 13, 2014, 05:16:50 AM

Quote from: Parazyd on June 13, 2014, 05:12:56 AM

So, CEX.IO is putting up tweets instead of actually doing something.

https://twitter.com/cex_io/status/477377921234264064

In a free market economy, u cant expect the leader to step down. The competitors should step up.

Or it should be regulated by authority (in this case bitcoin protocol itself). It should be possible to force anyone from amasing hash power like that on protocol side. It's not Ghas that should fix this, devs are ones that need to secure network on protocol level.

You can't just blacklist an entire pool.

ljudotina

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Quote from: newIndia on June 13, 2014, 05:16:50 AM

Quote from: Parazyd on June 13, 2014, 05:12:56 AM

So, CEX.IO is putting up tweets instead of actually doing something.

https://twitter.com/cex_io/status/477377921234264064

In a free market economy, u cant expect the leader to step down. The competitors should step up.

Or it should be regulated by authority (in this case bitcoin protocol itself). It should be possible to force anyone from amasing hash power like that on protocol side. It's not Ghas that should fix this, devs are ones that need to secure network on protocol level.

newIndia

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Quote from: Parazyd on June 13, 2014, 05:12:56 AM

So, CEX.IO is putting up tweets instead of actually doing something.

https://twitter.com/cex_io/status/477377921234264064

In a free market economy, u cant expect the leader to step down. The competitors should step up.

Parazyd

hero member

Activity: 812

Merit: 587

Space Lord

So, CEX.IO is putting up tweets instead of actually doing something.

https://twitter.com/cex_io/status/477377921234264064

ljudotina

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They are working on option that will enable you to redirect their hardware out of their pool. So basicly you rent their hardware but you mine at pool of your choice.

Parazyd

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Space Lord

Quote from: Meuh6879 on June 13, 2014, 05:08:27 AM

Quote from: Parazyd on June 13, 2014, 05:02:19 AM

They find the most blocks.

and it's a useless way of mining ... a pool that win more block don't pay more !
you win BTC with a constant GH/s speed.

even in a little pool ... you win the same amount even if it don't find more than 5 block per day.

I know, I just wanted to say that people find that attractive and have the wrong opinions. That's what lead to these 50%.

Meuh6879

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Quote from: Parazyd on June 13, 2014, 05:02:19 AM

They find the most blocks.

and it's a useless way of mining ... a pool that win more block don't pay more !
you win BTC with a constant GH/s speed.

even in a little pool ... you win the same amount even if it don't find more than 5 block per day.

Lauda

legendary

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Terminated.

This is very bad imo. I don't think people realize what a 51% would do to Bitcoin.

U.K.-BTC

newbie

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Quote from: Meuh6879 on June 13, 2014, 05:05:40 AM

Bro, Ghash is not for little mining system ... look at your DOA, it will be high with a "minimal difficulty to 8".
move to an other pool with variable difficulty (like slush's).

Thank you Sir, I will look closely at

Thenen

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Ghash need to put in some fees and that would solve the problem..

Meuh6879

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Quote from: U.K.-BTC on June 13, 2014, 04:59:56 AM

I have 10 GH/s Hardware power (connected to GHash.IO), and I have also 20 GH/s mining contract on CEX.IO (also connected to GHash.IO).

Bro, Ghash is not for little mining system ... look at your DOA, it will be high with a "minimal difficulty to 8".
move to an other pool with variable difficulty (like slush's).

you win the same amount of money.

Parazyd

hero member

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Space Lord

They're switching with 50% and 49%. It's dynamic.
But I believe it's gonna be okay for now. They should take care of it in some way though.

It's so popular just because of this reason. It's the biggest pool and everyone goes there. They find the most blocks.

U.K.-BTC

newbie

Activity: 38

Merit: 0

Hi,

Quote from: newIndia on June 13, 2014, 04:40:08 AM

... but they are not using all of their mining power ?

this is possible. Here an exemple:

I have 10 GH/s Hardware power (connected to GHash.IO), and I have also 20 GH/s mining contract on CEX.IO (also connected to GHash.IO).

Since 20 minutes:
-> impossible hardware connect to GHash.IO (so I changed now to BTC Guilde, works fine)
-> my 20 GH/s on CEX are turning only about ~ 15 GH/s since 15 minutes @ GHash.IO

... just some impressions of the moment from a little miner.

Best regards.

Bizmark13

sr. member

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Quote from: newIndia on June 13, 2014, 04:40:08 AM

Why other pools are unable to compete with GHash.IO ? What is their X-factor ?

1. They have little or no fees (0% last time I checked).

2. The cloud mining website CEX.IO uses (owns?) GHash.IO. When someone buys a cloud mining contract there, the bitcoins are mined using the GHash.IO pool.

I'm not an expert so I could be wrong but I think this is why it's so popular.

CoinLearn

sr. member

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Labteck

sr. member

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It's a fuk;['ng problem, and everyone one here is closing their eyes and say "dont worry about your money ,they are good guys".
Wonderful.

S4VV4S

hero member

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You are looking at the 24h stats.

I think they took measures to lower their has rate down: https://blockchain.info/pools

Still, I think they are just hiding hash rate.

None the less I couldn't care less.
It would be stupid of them to attempt a 51% attack.

Double spends occur with all miners that have large hashing power.
Nothing new there.

newIndia

legendary

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I want to know is there any other service to check the claim by BlockChain.info ?

https://blockchain.info/pools?timespan=24hrs

Following addresses are marked for Double Spending :-

1. https://blockchain.info/address/1AF4og9Epgw7Q7hVzNeDf8ZAvzRhJ8pQG

2. https://blockchain.info/address/1H5NvB7W5hGhf3aPACDZPam7vmy3bYuTDa

3. https://blockchain.info/address/1BX5YoLwvqzvVwSrdD4dC32vbouHQn2tuF

4. https://blockchain.info/address/1BwZeHJo7b7M2op7VDfYnsmcpXsUYEcVHm

5. https://blockchain.info/address/1A73ExsM2doRwTLp82rv5U36QHbBFmHD1X

Can it happen that GHash.IO is now actually 50%+, but they are not using all of their mining power ?

Why other pools are unable to compete with GHash.IO ? What is their X-factor ?

I used to know Bitcoin is trustless. Why should I trust GHash.IO more than Reserve Bank of India, my country's central bank ?

Update: I have changed the initial title from 49% to 51% as I can see it has now reached 51% !!!

Request to Mods: Please dont move it outside Bitcoin Discussion. I can see other GHash.IO threads are here too. Moreover, its not about GHash.IO, its about 51%, its about Bitcoin remains TrustLess.

Topic: GHash.IO is standing at 51% - page 6. (Read 5482 times)