If a pool is finding most blocks, why we join another pool?

achimsmile

legendary

Activity: 1225

Merit: 1000

Quote from: jogoma12 on February 09, 2015, 06:08:06 AM

Quote from: enginera on February 09, 2015, 06:04:41 AM

Okay then is that okay until %51? Can we keep up using the big pool if its power lower then %49-50?

That should be relatively safe. It is just a matter of preventing. A 51% attack is more of a theory than anything dice we have yet to see one. You should Google it. It will be in the bitcoin wiki

We have seen multiple successful 51% attacks on bitcoin clones. It's not just a theory.

edit: https://bitcointalksearch.org/topic/list-of-historical-51-attacks-on-altcoins-332584

Amph

legendary

Activity: 3206

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because of the 50% rule, actually there are many other attacks at 30-40%

jawitech

full member

Activity: 196

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Having all miners in one pool might cause problems if this pool is down (server problems, DDoS attacks,...).

jogoma12

sr. member

Activity: 249

Merit: 250

Quote from: yaamp on February 09, 2015, 12:33:53 PM

Quote from: enginera on February 08, 2015, 05:55:20 PM

Hi there,

There's pool A mining an altcoin, and finding %95 of blocks with high hashrate and many miners.
But there are other pools (B,C,D) also, mining same coin, but they only find %5 of the blocks.

So what's the purpose of joining other pools B,C,D? That means low-profit.

normally, pool B, C and D should be as profitable as pool A, on the long run

That is also a good point. If you stick around with the smaller pools, you will make about the same. Hashing is like guessing. You need luck

yaamp

full member

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Quote from: enginera on February 08, 2015, 05:55:20 PM

Hi there,

There's pool A mining an altcoin, and finding %95 of blocks with high hashrate and many miners.
But there are other pools (B,C,D) also, mining same coin, but they only find %5 of the blocks.

So what's the purpose of joining other pools B,C,D? That means low-profit.

normally, pool B, C and D should be as profitable as pool A, on the long run

jogoma12

sr. member

Activity: 249

Merit: 250

Quote from: enginera on February 09, 2015, 06:04:41 AM

Okay then is that okay until %51? Can we keep up using the big pool if its power lower then %49-50?

That should be relatively safe. It is just a matter of preventing. A 51% attack is more of a theory than anything dice we have yet to see one. You should Google it. It will be in the bitcoin wiki

enginera

newbie

Activity: 43

Merit: 0

Okay then is that okay until %51? Can we keep up using the big pool if its power lower then %49-50?

jogoma12

sr. member

Activity: 249

Merit: 250

You do not want a single entity having so much power over a coin. That opens the network to attacks on the blockchain. In order to preserve the integrity of the chain, it is important to distribute power. That way attacks become near impossible

enginera

newbie

Activity: 43

Merit: 0

Hi there,

There's pool A mining an altcoin, and finding %95 of blocks with high hashrate and many miners.
But there are other pools (B,C,D) also, mining same coin, but they only find %5 of the blocks.

So what's the purpose of joining other pools B,C,D? That means low-profit.

Topic: If a pool is finding most blocks, why we join another pool? (Read 1442 times)