How to read the statistics? | Bitcointalksearch.org

Pkofet

sr. member

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Merit: 250

Quote from: Coef on June 11, 2014, 09:46:28 AM

Quote from: shorena on June 11, 2014, 08:01:02 AM

From Ghash.io press release its ~55% which leaves them at 20% of the overall hashrate not 40%. So even if they gain another 10% those individuals still make a significant difference.

~~Would you mind sharing the link to the press release?~~

Never mind, found it myself. It was published in early Jun though. https://ghash.io/ghashio_press_release.pdf

"Early Jun"? Sounds like a typo for "early Jan"...
http://newsbtc.com/2014/01/09/ghash-io-releases-official-statement-51-hashing-power-threat/

shorena

copper member

Activity: 1498

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No I dont escrow anymore.

Quote from: Coef on June 11, 2014, 09:46:28 AM

Quote from: shorena on June 11, 2014, 08:01:02 AM

From Ghash.io press release its ~55% which leaves them at 20% of the overall hashrate not 40%. So even if they gain another 10% those individuals still make a significant difference.

~~Would you mind sharing the link to the press release?~~

Never mind, found it myself. It was published in early Jun though. https://ghash.io/ghashio_press_release.pdf

Yes, its a bit old by now. But if you read it entirely Ghash.io is concerned about having to much hashingpower. For now they try to push miners gently onto other pools. They might have to charge pool fee's if they just keep pilling up Wink

They also write that they want to allow cex.io users to change pool data. So all those cloudminers should be able to pick a pool. Not sure if thats working allready, maybe someone with some GH/s @ cex.io can take a look.

Coef

hero member

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Exhausted

Quote from: shorena on June 11, 2014, 08:01:02 AM

From Ghash.io press release its ~55% which leaves them at 20% of the overall hashrate not 40%. So even if they gain another 10% those individuals still make a significant difference.

~~Would you mind sharing the link to the press release?~~

Never mind, found it myself. It was published in early Jun though. https://ghash.io/ghashio_press_release.pdf

shorena

copper member

Activity: 1498

Merit: 1499

No I dont escrow anymore.

Quote from: Kprawn on June 11, 2014, 07:46:56 AM

The gap between Ghosh.IO and there rest is huge. Huh

It's like comparing the value of Bitcoin, to the value of canabiscoin. Grin

Why do they have such a huge portion? Early adopter? or just specialists miners?

GHash.io has the miners for cex.io and people like cloudmining. Probably because they dont want to take care of the hardware but still mine.

Quote from: Coef on June 11, 2014, 06:37:52 AM

Quote from: shorena on June 10, 2014, 04:36:54 PM

Never forget: its a pool. Its not a single person controlling that much hashingpower, its a group and abandoning a pool is as easy as flipping a switch.

True, but not entirely true.
According to eleuthria, at least 40-50% of their hashrate are from their own private farm.

Quote from: eleuthria on June 08, 2014, 02:10:44 AM

GHash.io continues to control a private mining farm of 40-50% of it's pool speed if not more, while trying to get more people to join their pool which has 0 economic sense behind it unless they plan on double spending or stealing from users (they're literally throwing money away to operate a public pool, spending time supporting people, and paying for servers, and gaining NOTHING from it).

From Ghash.io press release its ~55% which leaves them at 20% of the overall hashrate not 40%. So even if they gain another 10% those individuals still make a significant difference.

Kprawn

legendary

Activity: 1904

Merit: 1073

The gap between Ghosh.IO and there rest is huge. Huh

It's like comparing the value of Bitcoin, to the value of canabiscoin. Grin

Why do they have such a huge portion? Early adopter? or just specialists miners?

Coef

hero member

Activity: 882

Merit: 1000

Exhausted

Quote from: shorena on June 10, 2014, 04:36:54 PM

Never forget: its a pool. Its not a single person controlling that much hashingpower, its a group and abandoning a pool is as easy as flipping a switch.

True, but not entirely true.
According to eleuthria, at least 40-50% of their hashrate are from their own private farm.

Quote from: eleuthria on June 08, 2014, 02:10:44 AM

GHash.io continues to control a private mining farm of 40-50% of it's pool speed if not more, while trying to get more people to join their pool which has 0 economic sense behind it unless they plan on double spending or stealing from users (they're literally throwing money away to operate a public pool, spending time supporting people, and paying for servers, and gaining NOTHING from it).

shorena

copper member

Activity: 1498

Merit: 1499

No I dont escrow anymore.

Quote from: Kprawn on June 11, 2014, 04:24:29 AM

Thank you, shorena, your answer was to the point. Grin

Sorry for the wrong description, of blockchain.info, I was doing research on exchange matters, and it slipped in. Roll Eyes

Do these miners, look at those statistics? And what incentive, do they have to switch pools, when the hash power of 1 pool, near 51%? {Only the prevention of possible double spending?}

Not sure if they check those stats and how often. Think about what this would do to bitcoin. The price would drop and people would start asking questions. As they allways do when the price changes (up or down). Someone would check and see that Ghash.io has over 50% hashingpower according to those stats and that the number of doublespends has either risen drasticly or the amount of bitcoins in doublespends has risen. Word would spread fast among miners and devs. Miners could switch the pool devs could deploy the counter messure posted above. Bitcoin would recover Bitcoin would survive. Maybe the price would drop 100 USD maybe more, but we wouldnt go to 0.

Kprawn

legendary

Activity: 1904

Merit: 1073

Thank you, shorena, your answer was to the point. Grin

Sorry for the wrong description, of blockchain.info, I was doing research on exchange matters, and it slipped in. Roll Eyes

Do these miners, look at those statistics? And what incentive, do they have to switch pools, when the hash power of 1 pool, near 51%? {Only the prevention of possible double spending?}

shorena

copper member

Activity: 1498

Merit: 1499

No I dont escrow anymore.

Quote from: Kprawn on June 10, 2014, 03:35:59 PM

By all mining pools, I mean all pools, that are mining bitcoins, at the time a draw those statistics.

If these pools, are in a way connected to say, blockchain.info and other pools are connected to other exchanges, I am seeing only some of the total mining pools out there.

Blockchain.info is not an exchange. Its a website that allows you to view the data in the blockchain. They also have a wallet, but AFAIK you cant buy/sell BTC there. Since they analyse the blockchain they also know all miners. Unless the miner never made a block.

Quote from: Kprawn on June 10, 2014, 03:35:59 PM

If it shows ALL mining pools, that are mining now, the 51% attack, is very close for Ghash.IO. {Although it's not that serious, but still something to look at} No?

10% is not close. 10% is 8 PH/s or 8,000 TH/s or ~ 15 Million USD¹ currently. And 55% of the GHash.io miners are individuals who could just switch the pool, so they are actually sitting at ~20%.

Never forget: its a pool. Its not a single person controlling that much hashingpower, its a group and abandoning a pool is as easy as flipping a switch.

There are also easy counter messures: http://gavintech.blogspot.de/2012/05/neutralizing-51-attack.html

Quote from: Kprawn on June 10, 2014, 03:35:59 PM

I asked if the double spend count of 23 was a lot, for the last 500 000 transactions, because I do not know what is acceptable.

Hope I make my question a bit more clear now?

My answer was: I dont think 0.0044% is a lot.

[1]: https://bitcointalksearch.org/topic/lee-group-host-miner110kwmonth-576844

HeroC

legendary

Activity: 858

Merit: 1000

Yes, ghash.io is very close to 51% of the network. It shows all the miners, but only some it know who they are. If you see Unknown, they are most likely private miners, or blockchain.info simply cannot find who / what pool mined that block.

Kprawn

legendary

Activity: 1904

Merit: 1073

By all mining pools, I mean all pools, that are mining bitcoins, at the time a draw those statistics.

If these pools, are in a way connected to say, blockchain.info and other pools are connected to other exchanges, I am seeing only some of the total mining pools out there.

If it shows ALL mining pools, that are mining now, the 51% attack, is very close for Ghash.IO. {Although it's not that serious, but still something to look at} No?

I asked if the double spend count of 23 was a lot, for the last 500 000 transactions, because I do not know what is acceptable.

Hope I make my question a bit more clear now?

shorena

copper member

Activity: 1498

Merit: 1499

No I dont escrow anymore.

Quote from: Kprawn on June 10, 2014, 03:17:13 PM

I went to one of the exchange's and got this info on mining distribution.

https://blockchain.info/pools

Does that show all mining pools

it shows all known pools. those that are not known are shown as "unknown".

Quote from: Kprawn on June 10, 2014, 03:17:13 PM

, or only the pools linked to blockchain?

blockchain =|= blockchain.info

Quote from: Kprawn on June 10, 2014, 03:17:13 PM

If it's all blockchains, a 51% is very close for Ghash.IO

There is only 1 blockchain. 40% << 51%

Quote from: Kprawn on June 10, 2014, 03:17:13 PM

Does a miner only have to have 51% on a exchange, to be able to double spend, or mining as a whole?

51% of what? 51% of the volume of an exchange makes you a whale, you are able to move the price around but not doublespend.

>50% of mining power allows for a "51% attack"

Quote from: Kprawn on June 10, 2014, 03:17:13 PM

And is a 23 Double Spends detected in the last 500,000 transactions, high or low and acceptable ?

https://blockchain.info/double-spends

I should actually not paste the link, because it will change, but I am lazy.

0,0044% im fine with that.

Kprawn

legendary

Activity: 1904

Merit: 1073

I went to one of the exchange's and got this info on mining distribution.

https://blockchain.info/pools

Does that show all mining pools, or only the pools linked to blockchain? If it's all blockchains, a 51% is very close for Ghash.IO

Does a miner only have to have 51% on a exchange, to be able to double spend, or mining as a whole?

And is a 23 Double Spends detected in the last 500,000 transactions, high or low and acceptable ?

https://blockchain.info/double-spends

I should actually not paste the link, because it will change, but I am lazy.

Topic: How to read the statistics? (Read 759 times)