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Topic: GHASH.IO NOW 47% IN THE LAST 24 hrs (Read 3179 times)

full member
Activity: 182
Merit: 100
June 19, 2014, 02:15:11 AM
#42
GHash is now back to 43%  Angry
hero member
Activity: 672
Merit: 500
http://fuk.io - check it out!
June 17, 2014, 11:14:47 PM
#41
heres official statement from today from ghash io - http://fuk.io/cexio-ghashio-jeffrey-smith-interview-exclusive/

Haha what a load of crap.  They won't limit their new user registrations in an effort to slow down their growth because some other pool might get to 51% and they would need to compete with them lol.  Roll Eyes

If you didn't hate them before you should now.

dont kill the messanger Wink the post is almost my top read one and got soem cool donations. yet i thought people here would be more happy about such questions asked - they surely werent the usual 'ass licking' ones that people ask.
DrG
legendary
Activity: 2086
Merit: 1035
June 17, 2014, 01:25:38 AM
#40
heres official statement from today from ghash io - http://fuk.io/cexio-ghashio-jeffrey-smith-interview-exclusive/

Haha what a load of crap.  They won't limit their new user registrations in an effort to slow down their growth because some other pool might get to 51% and they would need to compete with them lol.  Roll Eyes

If you didn't hate them before you should now.
hero member
Activity: 672
Merit: 500
http://fuk.io - check it out!
June 16, 2014, 02:31:47 PM
#39
heres official statement from today from ghash io - http://fuk.io/cexio-ghashio-jeffrey-smith-interview-exclusive/
hero member
Activity: 700
Merit: 504
Run a Bitcoin node.
June 15, 2014, 06:48:21 PM
#38
I trust ghash.io so nothing bad would happen

Have you net them in person?  How easily trust is given...

This is not a question of trust. If Bitcoin have so much future it is because we don't need to trust someone.
If this promise is broken, Bitcoin is as good as any stupid fiat currency issued by gov.
If we avoid giving a single pool >50% of the network hash rate, we don't need to trust anyone. That's the point of Bitcoin - no need to trust a central authority.

Decentralisation is key.  For Bitcoin's sake don't centralise the hash rate!
DrG
legendary
Activity: 2086
Merit: 1035
June 14, 2014, 06:21:34 PM
#37
don't you think cex is more concern about bitcoin failing then many of us, since they are heavily invested in hardware,  if anything happens, they tends to lose more

And what if their losses are the simmple price to pay for having the ability to shut down BTC.  I'm not one for consipiracy theories but given the recent revelations and confirmations of government sanction spying and industrial/corporate espionage is anyone willing to back all BTC owners/investors with their own funds in case it crashes?  None that I know of.

Some people will succeed if BTC fails.
hero member
Activity: 714
Merit: 661
June 14, 2014, 04:16:36 PM
#36
I don't think any company like CEX.io would compromise the Bitcoin network with a 51% attack, they are earning a lot selling cloud hash power or trading coins. So an attack would be the end of their businesses after all.
Edit: My 2 cents. My 2 satoshis.
But the can be coerced to do bad things, legally, illegaly, or even unintentionally, or by pure greed of some of their admins.
legendary
Activity: 1015
Merit: 1000
June 14, 2014, 04:09:49 PM
#35
I don't think any company like CEX.io would compromise the Bitcoin network with a 51% attack, they are earning a lot selling cloud hash power or trading coins. So an attack would be the end of their businesses after all.
Edit: My 2 cents. My 2 satoshis.
hero member
Activity: 714
Merit: 661
June 14, 2014, 01:59:15 PM
#34
I trust ghash.io so nothing bad would happen

Have you net them in person?  How easily trust is given...

This is not a question of trust. If Bitcoin have so much future it is because we don't need to trust someone.
If this promise is broken, Bitcoin is as good as any stupid fiat currency issued by gov.
STT
legendary
Activity: 3878
Merit: 1411
Leading Crypto Sports Betting & Casino Platform
June 13, 2014, 09:46:22 PM
#33
How did that reduction occur exactly because this is a reoccurring factor.  If not ghash then in future someone else and one day it might be deliberate so probably good to track details on this kind of thing
member
Activity: 98
Merit: 10
June 13, 2014, 05:09:20 PM
#32
ghash reduced hashrate from 44 PH/s to 34 PH/s Smiley
sr. member
Activity: 267
Merit: 250
6th BTC reached. Thank you for your support
June 13, 2014, 04:03:27 PM
#31
don't you think cex is more concern about bitcoin failing then many of us, since they are heavily invested in hardware,  if anything happens, they tends to lose more
hero member
Activity: 503
Merit: 500
June 13, 2014, 01:25:25 PM
#30
This is stupid, fucking open your eyes or ruin everything for everyone.
sr. member
Activity: 333
Merit: 250
June 13, 2014, 12:23:45 PM
#29
I trust ghash.io so nothing bad would happen

Have you net them in person?  How easily trust is given...

I think he trusts them as long as he gets monney, whatever happen.
sr. member
Activity: 392
Merit: 250
June 13, 2014, 10:31:49 AM
#28
I trust ghash.io so nothing bad would happen

Have you net them in person?  How easily trust is given...
minners are becoming dumber everyday, just like the main userbase of bitcoin will when it'll reach full mainstream, they're truly a force of nature.
DrG
legendary
Activity: 2086
Merit: 1035
June 13, 2014, 10:16:07 AM
#27
I trust ghash.io so nothing bad would happen

Have you net them in person?  How easily trust is given...
anu
legendary
Activity: 1218
Merit: 1001
RepuX - Enterprise Blockchain Protocol
June 13, 2014, 09:15:45 AM
#26
I trust ghash.io so nothing bad would happen

I trust MtGox and Laiki bank so nothing bad would happen Wink

Miners should ask themselves why GHash is acting that way, forgoing profits for market share even if they know that 70% market share will mean 70% market share of nothing. Obviously they have better plans for themselves.
sr. member
Activity: 394
Merit: 250
June 13, 2014, 09:12:09 AM
#25
I trust ghash.io so nothing bad would happen
full member
Activity: 177
Merit: 100
June 13, 2014, 09:03:22 AM
#24
Over reaction is too over reaction bro.

Come on now, it's surprising how little faith everyone has in the economy! (Probably justified though) But seriously, I'm sure that it won't happen, as mentioned above, fail safes are in order to jump ship if things do get really scary. (Lets hope!)
legendary
Activity: 1176
Merit: 1010
Borsche
June 13, 2014, 08:51:53 AM
#23
Yes, it is amazing. Happens in politics all the time and people don't care - not till they look at barb wire from the wrong side, anyway.

Maybe they do care once their income drops to zero.

Last time I checked Ghash doesn't actually take a fee so I wouldn't say they don't care, it's more of the fact they don't care enough for them to skip that extra 2% or whatever other pools charge them. It is rather surprising that they don't see it as potentially a threat that could make their hardware useless (as far as earning money goes) but probably they're thinking that everyone else will switch and they can continue to mine feeless.

That is the plain example of prisoner's dilemma. People always think they are smarter than the next guy; and won't cooperate even though when they don't - they are all screwed.

tl;dr; people are stupid. people still mining at ghash deserve to have their hardware worth zero. too bad they will take the rest of us with them Smiley and make a monument to human selfishness and stupidity out of the great project that is bitcoin Smiley
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