inter-pool relationship - WTF is that ?

Ron~Popeil

sr. member

Activity: 406

Merit: 250

Quote from: newIndia on July 01, 2014, 12:45:07 PM

Quote from: ShakyhandsBTCer on June 30, 2014, 07:27:42 PM

Quote from: newIndia on June 30, 2014, 08:56:08 AM

Quote from: ShakyhandsBTCer on June 29, 2014, 04:25:37 PM

Quote from: franky1 on June 19, 2014, 11:28:39 PM

lol what you also should note is that luke JR is a greedy mo-fo.

he is the guy that pushes to make people add TX fee's to their transactions by changing the eligius pool code to be greedy and ignore 0 ze tx's and only let a couple in per block,
he tells people to use fresh addresses eachtime so that when you send your whole stash there is not just one input, but hundreds. meaning large data size, meaning more tx fee.

and he was the one that got the bitcoin-core to, by default hide pre-used addresses. subtly causing people to use new address , as i just explained.

when a greedy guy that wants to tax bitcoin more by charging fee's, and a greedy mining pool that wants more than 50% of the pie get together... look out

only including TX with a miners fee is expected behavior by pool operators over the long term. When block subsidies get smaller (probably when they reach 6.25 BTC per block) it would be likely that all TX must include some kind of fee in order to be included by the miners.

But unable to employ his dubious tactics to make money from mining pool, Luke Jr is now trying to handshake with GHash.IO. Chances are there, he may point his whole pool resource to GHash.IO to win some blocks.

I don't see what he has to gain by colluding with ghash. It is my understanding that he has a reputation of doing the right thing.

Do you have any evidence of any wrong doing?

In some previous thread I found Luke Jr. was accused of DDOS on others. Now, with the rise of GHash.IO, he is becoming unimportant and the only way he can keep dominating the mining world is by handshaking with GHash.IO.

There is a big difference between being accused and being guilty of something. Without proof that is slander.

newIndia

legendary

Activity: 2198

Merit: 1049

Quote from: ShakyhandsBTCer on June 30, 2014, 07:27:42 PM

Quote from: newIndia on June 30, 2014, 08:56:08 AM

Quote from: ShakyhandsBTCer on June 29, 2014, 04:25:37 PM

Quote from: franky1 on June 19, 2014, 11:28:39 PM

lol what you also should note is that luke JR is a greedy mo-fo.

he is the guy that pushes to make people add TX fee's to their transactions by changing the eligius pool code to be greedy and ignore 0 ze tx's and only let a couple in per block,
he tells people to use fresh addresses eachtime so that when you send your whole stash there is not just one input, but hundreds. meaning large data size, meaning more tx fee.

and he was the one that got the bitcoin-core to, by default hide pre-used addresses. subtly causing people to use new address , as i just explained.

when a greedy guy that wants to tax bitcoin more by charging fee's, and a greedy mining pool that wants more than 50% of the pie get together... look out

only including TX with a miners fee is expected behavior by pool operators over the long term. When block subsidies get smaller (probably when they reach 6.25 BTC per block) it would be likely that all TX must include some kind of fee in order to be included by the miners.

But unable to employ his dubious tactics to make money from mining pool, Luke Jr is now trying to handshake with GHash.IO. Chances are there, he may point his whole pool resource to GHash.IO to win some blocks.

I don't see what he has to gain by colluding with ghash. It is my understanding that he has a reputation of doing the right thing.

Do you have any evidence of any wrong doing?

In some previous thread I found Luke Jr. was accused of DDOS on others. Now, with the rise of GHash.IO, he is becoming unimportant and the only way he can keep dominating the mining world is by handshaking with GHash.IO.

ShakyhandsBTCer

sr. member

Activity: 448

Merit: 250

It's Money 2.0| It’s gold for nerds | It's Bitcoin

Quote from: newIndia on June 30, 2014, 08:56:08 AM

Quote from: ShakyhandsBTCer on June 29, 2014, 04:25:37 PM

Quote from: franky1 on June 19, 2014, 11:28:39 PM

lol what you also should note is that luke JR is a greedy mo-fo.

he is the guy that pushes to make people add TX fee's to their transactions by changing the eligius pool code to be greedy and ignore 0 ze tx's and only let a couple in per block,
he tells people to use fresh addresses eachtime so that when you send your whole stash there is not just one input, but hundreds. meaning large data size, meaning more tx fee.

and he was the one that got the bitcoin-core to, by default hide pre-used addresses. subtly causing people to use new address , as i just explained.

when a greedy guy that wants to tax bitcoin more by charging fee's, and a greedy mining pool that wants more than 50% of the pie get together... look out

only including TX with a miners fee is expected behavior by pool operators over the long term. When block subsidies get smaller (probably when they reach 6.25 BTC per block) it would be likely that all TX must include some kind of fee in order to be included by the miners.

But unable to employ his dubious tactics to make money from mining pool, Luke Jr is now trying to handshake with GHash.IO. Chances are there, he may point his whole pool resource to GHash.IO to win some blocks.

I don't see what he has to gain by colluding with ghash. It is my understanding that he has a reputation of doing the right thing.

Do you have any evidence of any wrong doing?

phillipsjk

legendary

Activity: 1008

Merit: 1001

Let the chips fall where they may.

Quote from: franky1 on June 19, 2014, 11:28:39 PM

he tells people to use fresh addresses eachtime so that when you send your whole stash there is not just one input, but hundreds. meaning large data size, meaning more tx fee.

and he was the one that got the bitcoin-core to, by default hide pre-used addresses. subtly causing people to use new address , as i just explained.

Using a new address every time does not change the price of transactions. When you spend coins, only the destination address and unspent coin outputs are mentioned. These unspent coin outputs are the same size whether or not you use a new address for every transaction.

Re-using Bitcoin addresses has severe privacy implications. Bitcoin is only pseudonymous rather than anonymous. The transaction record is very public and very permanent (even with pruning, I assume).

Using Coinjoin regularly is actually one way to de-fragment coins (which would happen after using many stealth transactions) and save on mining fees.

newIndia

legendary

Activity: 2198

Merit: 1049

Quote from: ShakyhandsBTCer on June 29, 2014, 04:25:37 PM

Quote from: franky1 on June 19, 2014, 11:28:39 PM

lol what you also should note is that luke JR is a greedy mo-fo.

he is the guy that pushes to make people add TX fee's to their transactions by changing the eligius pool code to be greedy and ignore 0 ze tx's and only let a couple in per block,
he tells people to use fresh addresses eachtime so that when you send your whole stash there is not just one input, but hundreds. meaning large data size, meaning more tx fee.

and he was the one that got the bitcoin-core to, by default hide pre-used addresses. subtly causing people to use new address , as i just explained.

when a greedy guy that wants to tax bitcoin more by charging fee's, and a greedy mining pool that wants more than 50% of the pie get together... look out

only including TX with a miners fee is expected behavior by pool operators over the long term. When block subsidies get smaller (probably when they reach 6.25 BTC per block) it would be likely that all TX must include some kind of fee in order to be included by the miners.

But unable to employ his dubious tactics to make money from mining pool, Luke Jr is now trying to handshake with GHash.IO. Chances are there, he may point his whole pool resource to GHash.IO to win some blocks.

ShakyhandsBTCer

sr. member

Activity: 448

Merit: 250

It's Money 2.0| It’s gold for nerds | It's Bitcoin

Quote from: franky1 on June 19, 2014, 11:28:39 PM

lol what you also should note is that luke JR is a greedy mo-fo.

he is the guy that pushes to make people add TX fee's to their transactions by changing the eligius pool code to be greedy and ignore 0 ze tx's and only let a couple in per block,
he tells people to use fresh addresses eachtime so that when you send your whole stash there is not just one input, but hundreds. meaning large data size, meaning more tx fee.

and he was the one that got the bitcoin-core to, by default hide pre-used addresses. subtly causing people to use new address , as i just explained.

when a greedy guy that wants to tax bitcoin more by charging fee's, and a greedy mining pool that wants more than 50% of the pie get together... look out

only including TX with a miners fee is expected behavior by pool operators over the long term. When block subsidies get smaller (probably when they reach 6.25 BTC per block) it would be likely that all TX must include some kind of fee in order to be included by the miners.

franky1

legendary

Activity: 4186

Merit: 4385

lol what you also should note is that luke JR is a greedy mo-fo.

he is the guy that pushes to make people add TX fee's to their transactions by changing the eligius pool code to be greedy and ignore 0 ze tx's and only let a couple in per block,
he tells people to use fresh addresses eachtime so that when you send your whole stash there is not just one input, but hundreds. meaning large data size, meaning more tx fee.

and he was the one that got the bitcoin-core to, by default hide pre-used addresses. subtly causing people to use new address , as i just explained.

when a greedy guy that wants to tax bitcoin more by charging fee's, and a greedy mining pool that wants more than 50% of the pie get together... look out

ShakyhandsBTCer

sr. member

Activity: 448

Merit: 250

It's Money 2.0| It’s gold for nerds | It's Bitcoin

Quote from: newIndia on June 16, 2014, 07:07:30 PM

Quote from: Meuh6879 on June 16, 2014, 07:05:51 PM

stop using pool ... do solo-mining.

but, human ... ah !

...and get no block after a month of mining Cheesy

Solo mining is akin to purchasing a lottery ticket. If you get lucky then you will get a huge payout, but for most miners they, on average will not find a block every difficulty period

BitCoinDream

legendary

Activity: 2282

Merit: 1204

The revolution will be digital

Look at the GHash statement - key players with the aim of discussing and negotiating collectively ways to address the decentralisation !!! Funny Cheesy

newIndia

legendary

Activity: 2198

Merit: 1049

Quote from: Meuh6879 on June 16, 2014, 07:05:51 PM

stop using pool ... do solo-mining.

but, human ... ah !

...and get no block after a month of mining Cheesy

Meuh6879

legendary

Activity: 1512

Merit: 1011

stop using pool ... do solo-mining.

but, human ... ah !

ShakyhandsBTCer

sr. member

Activity: 448

Merit: 250

It's Money 2.0| It’s gold for nerds | It's Bitcoin

If they were to brainstorm ideas as to how to prevent any one pool from getting too much of the network hashrate.

Once they come up with a solution they would all need to implement such solution as if they didn't they the pools that did not could possible come close to the 51% mark

newIndia

legendary

Activity: 2198

Merit: 1049

I just read there is an inter-pool relationship since 2012. Luckily GHash.IO is not a part of that and Luke Jr. aka Eligius is trying to take them into confidence.

On the other hand GHash.IO is proposing Bitcoin Foundation for a round-table of miners at the London summit.

Quote from: Luke-Jr on June 16, 2014, 01:29:28 PM

Quote from: ghash.io on June 16, 2014, 01:19:32 PM

To that effect we are in the process of arranging contact to the leading mining pools and Bitcoin Foundation to propose a ‘round table’ meeting of the key players with the aim of discussing and negotiating collectively ways to address the decentralisation of mining as an industry. Our aim is to do this quickly with a possible date coinciding with the CoinSummit Conference in London.

This has been ongoing since 2012 on mailing lists and IRC.
Please join and participate.
GHash.io is the only major pool that has not been involved in inter-pool relationships.

I dont know how inter-pool relationship and round-table can support decentralization ?

Topic: inter-pool relationship - WTF is that ? (Read 1190 times)