Topic: GHASH.IO NOW 47% IN THE LAST 24 hrs (Read 3266 times)

GHash is now back to 43% 

dont kill the messanger 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.

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. 

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

heres official statement from today from ghash io - http://fuk.io/cexio-ghashio-jeffrey-smith-interview-exclusive/

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!

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.

But the can be coerced to do bad things, legally, illegaly, or even unintentionally, or by pure greed of some of their admins.

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.

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.

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

ghash reduced hashrate from 44 PH/s to 34 PH/s

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

This is stupid, fucking open your eyes or ruin everything for everyone.

I think he trusts them as long as he gets monney, whatever happen.

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.

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

I trust MtGox and Laiki bank so nothing bad would happen

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.

I trust ghash.io so nothing bad would happen

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!)

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 and make a monument to human selfishness and stupidity out of the great project that is bitcoin

it was caused by the auction of the SR seized funds held at the end of month

+1

Not sure, but the crash last night was probably caused by this (unless we think it was the Expedia news ). That was way more than 2% loss for any miner who sells immediately. So this behavior already caused a loss.

It gets interesting when Expedia and others announce that they changed their minds about Bitcoin because they no longer deem Bitcoin secure.

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.

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.

Relax, cex own hardware will be pointed to another pool automatically once GH gets too close to 50%.

If anyone builds a pool as good as GH, with same fees and merged mining capabilities, i am sure people will switch.

In the meantime, it is just one of the best pools around here, so naturally there will be many users.

Exactly leaserig.net is much much better. People try it out and change pool. I'm getting better money on pool like slush's or eligius than at ghash.io! People whats wrong with You !?

People, join leaserig.net, the payouts are better and you mine normally when your rigs aren't rented out. Unless, your renter points your miner to ghash anyways, then its a lost cause.

If this crap continue, daily income will be 0

blockchain.info/de/double-spends

irresponsible miners, get off this fucking pool

Death to GHash.io!

Are there any other pools that merge-mine IXC,DVC, and NMC alongside BTC like ghash.io?

For Bitcoin's sake, don't mine at the largest pool.

Dive.  Dive back down to $2.  GHash.io, go ahead and solve 10 blocks in a row.  If it's going down everybody is going down with them 

there is no one saying bitcoin will even be around 5 years from now. No one knew for sure 4 years ago when it was going than.
digital coins are a dime-a-dozen right now.
As far as I'm concerned this is all one giant experiment and it could all be worth nothing when we wake up.

Sorry to say but Bitcoin is doomed. No currency will ever go mainstream when a group can take over this easily. What happens when a big corporation or government actually makes mining even more appealing by paying miners a little extra to mine in their pool. All Ghash miners will jump ship along with others and soon the government will have the ability to do a 51% attack. The Blockchain is here to stay but Bitcoin may not be.

I totally agree  It's amazing just how so many people just don't seem to care? Or they just want to stick there head in the sand or simply give them the benefit of the doubt You would think after GOX ?Giving people the benefit of the doubt would go out the window! I think a huge part of it is there just simply aren't a lot of miners on these boards? There is just too many people that want to play Pump and Dump traders and all they care about is the MONEY Then I'm pretty sure there is also plenty of SOCK PUPPETS to try and convince people  there is nothing to worry about?They don't want the Golden Cow to stop giving Milk!
 They have just about literally hijacked the whole network! Just look at how many streaks of blocks found in a row!! Streaks of 6+ found in a row or five out of every six  blocks found on a regular  
 Makes you wonder what is it going to finally take for people to become concerned? When whole days go by and it's nothing but Ghash monopolizing ALL BLOCKS FOUND?When it's too late?
  But it's times like these you find out WHO IS REALLY DOWN FOR THE CAUSE! WHO is in it just for the MONEY? or for the Technology and the Freedom from FIAT that Bitcoin can BRING With that being said? watch out ! THE TROLLS SHOULD BE COMING OUT in FULL FORCE ANY MINUTE! You know the ones who never mined a block in there entire life pretending they know the answer and everything is going to be alright and nothing to worry about and Ghash are the good guys   and it would be in there best interest to never double spend? the last time it happened it was just a FLUKE! and they did promise it would never happen again it wasn't their fault Funny how history always repeats itself and people always have to learn THE HARD WAY!!!

A heavy Bitcoin price crash will take care of it and I see that coming pretty soon if the situation with GHASH doesn't get resolved. I hope they come to their senses before its too late!

they offer merged mining and they don't charge a mining fee and auto payouts are free as well.
No other pool is offering that and have enough hash power to compete with the daily income currently.
afaik.

I don't know how the get rid of the 51% threat but Isn't one way to lure people away from these Pools threatening a 51% attack  for the community to set up another pool(s) with cheaper fees.

Waste of bandwidth to even type it at this point, because it's been said in 39,000 different threads.

but lemme spell it out to you, point by point.

Miners... Don't... Care... At least the ones still on Ghash. They've got their low variance, and when Bitcoin is worthless, they'll have a lot of them. These are probably the same people who thought they were gonna get rich off Beanie Babies.

Ghash.io/Cex.io DEFINITELY doesn't care. They've got their steady income, and as long as Bitcoin is worth more than the electrical bills and equipment investment, they'll keep the doors open.

Those miners that are not using Ghash CARE, but can't do a damn thing about it. Thus Ghash thumbs its nose at us.

So, yeah... 51% attack is pretty much guaranteed. And all we can do is lie back and let it happen.

the last hour they are 83.33334%

GUYs, for the sake of humanity, please get out of GHASH!!