Topic: GHash.IO Statement Regarding 51% Threat - page 2. (Read 3139 times)

Even if there is a forced redirect, that hashrate is still under Ghash.io's control, so that makes no sense at all. Most miners have failover pools, so denying connections is fine.

I would think implementing a forced redirect to another pool would be more complex than simply not allowing a connection at all.

no all they need to do is put you in a    bitsolo.net   or solopool.net type server
type section  when they get over 38 percent.  auto notify you that you are now solo mining and giving you a chance to go to another pool or continue to solo mine.

 

even if another 10% is in that section they are all solo-mining (thus not causing the 51% danger)   not a difficult solution for them to offer.

 most will not want to solo mine and will go to btcguild or  bitminter or eligus or slush

All viable potential solutions.  What they are doing now is no solution at all.

The actual solution would be to deny new connections once it has reached the limit it wants to. That way, there is no new hashpower. Their current policy is to send out messages and warnings, but that is useless.
Another option is to disconnect all miners, and only the ones that reconnect quickest will be able to stay. They can also increase fees to reduce hashrate.

It's great that GHash.io is making this statement; however, what is it that they are doing to actively prevent this from happening?  As the pool's hash rate approaches 40%, you're asking the community to move to another pool.  What if they don't?

There is nothing actually being done by GHash.io here.  Sending out tweets and posting in the forum requires MINERS to be proactive.  It's time for the POOL to take action.  Check out what BTCGuild does... might want to consider some similar approach.

  ***Dear miners, we are approaching 39.99% of the Bitcoin hashrate. Please, move your mining hardware to other pools. Thank you for understanding!***

Thank you I appreciate this.  I have always kept a bit of hash with you.  A suggestion offer a server option that awards to the block maker only.

If 10 ph of hash gets tossed at it that would keep you under 39% since it is as if all that hash is solo mined.
I have posted asking for a block maker takes all option in the pools section.  Every major pool has turned it down.  If you make the offer with a reasonable fee 25 btc to the block maker .  With the rest  of the merged coins and btc transaction fees  to  cex.io.  I think you would get many th /ph of hash .  If it does not work you can end it.

Should be a money maker for you.  It also allows us a safe reliable payer of blocks to manage us miners that want the solo option.

Was that a joke? I really appreciate this post. You guys are making a step towards improving and it is showing.

Stop posting before you 51 the forums.

Considering Bitcoin protocol operation and situation within the mining processes, GHash.IO, as the leading mining pool, would like to make a voluntary statement.

Based on the closed round table discussion, which took place on July 9th in London, GHash.IO states that it will not exceed more than 39.99% of the overall Bitcoin hashrate. If GHash.IO approaches the respective border, it will be actively asking miners to take their hardware away from GHash.IO and mine on other pools

None of the existing technical solutions against the 51% attack threat is able to solve the problem in a long-term perspective, taking into account interests of existing mining pools, individual miners and Bitcoin community. Thus, Bitcoin adherents should focus on temporary acts until the lifetime solution is found.

To make sure the respective solution appears in the nearest future, GHash.IO and CEX.IO are initiating a committee, which will consist of major Bitcoin market players, mining pools and other voluntary Bitcoin companies, with the purpose of accelerating and motivating developers to find a technical solution for the 51% threat by accumulating funds and directing them to this process. An original policy document, which describes operational processes of the committee, will be presented shortly. The committee will drive closer communication and cooperation between developers working on the Bitcoin protocol and solving the 51% issue, and businesses, highly interested in expanding the industry, and promote Bitcoin to a broader audience.

With this statement, we invite other mining pools to become more transparent to the community, issue similar statements from their sides and declare that they won’t overcome 39.99% of the Bitcoin hashrate as well. We believe that mining pools should support the statement, since any of them can possibly take leading positions and appear on GHash.IO place.

We also do encourage Bitcoin market players to join the upcoming committee, assist in supporting Bitcoin developers, actively participate in the Bitcoin community, become ultimately transparent, join forces for developing Bitcoin and promote cryptocurrency to the world.

Our statement is available to view on our blog: http://blog.cex.io/official-statement-on-51-threat-and-closed-round-table/

A summary from the round table discussion can be viewed and downloaded here: http://www.scribd.com/doc/234153249/CoinSummit-Bitcoin-Meeting