Topic: Is Bitcoin not decentralized anymore? - page 7. (Read 6919 times)

Quote from: S4VV4S on June 15, 2014, 05:38:35 PM

Ok if ANYONE does their own research they'd see that GHash.io is now hovering at around 40%, NOT the 51% everyone is claiming.

I'm actually going to start linking people to the pie charts if I keep seeing this stupidity. It's not funny anymore. Do something by yourself instead of having it fed to you by people on the forum.

GHash.io has been dropping for the past few days. I think everything's is kind of getting resolved.

You should follow your own advice and do some research yourself.

Look at this before you make assumptions

Good to know you were spoon fed too.

Are you serious?

Ok then you tell me where this hyper-accurate chart is.

It was unnecessary to say "Good to know you where spoon fed too" but the concept is the same. The chart even shows decreases over the past few days.

Bro, the post just above this one (yours) says that I have some of my miners pointed at GHash, call it selfish or whatever I don't give a fuck anymore bcoz people are just too blind to see a few things that are so fucking obvious.
That being said, I am not neither with or against GHash, I am against the fact that the core dev team allowed this to happen.

I will leave it at that so I can respond to the post above this one.
Have a good one.

I'm not sure what you said, but do you mean you're not happy with the people not looking at the charts, or are you angry with me?

I don't care that you have miners in GHash or anywhere else, I'm just saying that I'm sick of people claiming "Oh GHash is at 49%" or whatever when they're much lower.

I'm sorry if I responded poorly, but it didn't seem that you were approving of my statement.

Due to the fact that GHash is below 45%, congrats on having miners there! More profit for you.

phillipsjk

legendary

Activity: 1008

Merit: 1001

Let the chips fall where they may.

I have heard about selective hearing but never heard of selective reading before....
Read what I wrote.
I emphasized it for you.
Have a good one.

There was a "large miner" on reddit who claimed to be sticking with ghash.io as well. It is not just you.

I actually do have selective reading. Learned this when my mom told me about a want-ad in the classified section of the newspaper. I missed it because it was ¼ page, instead of postage-stamp size. Over the years I had started reading fine-print first, and ignoring 72pt fonts.

S4VV4S

hero member

Activity: 1582

Merit: 502

Quote from: phillipsjk on June 15, 2014, 05:30:33 PM

Quote from: Stevbenson on June 15, 2014, 08:33:08 AM

WTF man! You think they have over 51% and you still point miners at them... Where is your logic?!?

Think about it, if they have more than 51% what is 720Gh going to do if I remove it from them?
720Gh means jack shit for hashing power. Apart from that I would like to at least get my investment back (which I didn't yet).
I also have more than that on other pools - I don't like to keep all my eggs in one basket Wink

Raindrops become a torrent.

Quote from: phillipsjk on June 15, 2014, 03:53:17 PM

... Recently, my brother reminded me that I claimed a 51% attack could not happen because people would desperately add hash-power to the network (even at a loss) to stop it.

People seem to be saying: "my hash-power does not make a difference, so I might as well benefit from the lower variance." The unseen risk is that concentration on only one pool may dramatically increase the variance in price.

I have heard about selective hearing but never heard of selective reading before....
Read what I wrote.
I emphasized it for you.
Have a good one.

S4VV4S

hero member

Activity: 1582

Merit: 502

Quote from: Willisius on June 15, 2014, 05:25:03 PM

Quote from: Stevbenson on June 15, 2014, 08:33:08 AM

Quote from: S4VV4S on June 15, 2014, 08:24:21 AM

Quote from: devphp on June 15, 2014, 08:05:19 AM

Ghash is back to 33%, you can go back to sleep now, nothing to see here.

They are hiding their real power.

I think the 51% we witnessed was a demonstration of power. I do not know for what reason.

They could have blocked miners as to keep their hash rates down as they did before, but they didn't.

I would say that GHash has MUCH more than 51%.

That being said, I do have some of my miners pointed at them.

EDIT: On the subject, NO, I don't believe that BTC is decentralized anymore.
In fact, the fact that we depend on the core dev team for anything means it is centralized, and from what I understand the core dev team is under the TBF orders.
Apart from that BTC mining is completely centralized.

WTF man! You think they have over 51% and you still point miners at them... Where is your logic?!?

Think about it, if they have more than 51% what is 720Gh going to do if I remove it from them?
720Gh means jack shit for hashing power. Apart from that I would like to at least get my investment back (which I didn't yet).
I also have more than that on other pools - I don't like to keep all my eggs in one basket Wink

Emphasis added

The problem there is that many agree with you. It adds up.

Emphasis added

phillipsjk

legendary

Activity: 1008

Merit: 1001

Let the chips fall where they may.

Quote from: Azlan on June 15, 2014, 11:10:41 AM

Historically, only 2 viable solutions exist:
1) An authority to regulate (% in this case)
2) Privatization

http://en.wikipedia.org/wiki/Tragedy_of_the_commons#Modern_solutions

Pick your poison..... but be quick about it.

You forgot:
3) The community is small enough for ostracism to work (less than about 150 people).

S4VV4S

hero member

Activity: 1582

Merit: 502

Quote from: Yakamoto on June 15, 2014, 05:28:36 PM

Quote from: S4VV4S on June 15, 2014, 05:24:50 PM

Ok if ANYONE does their own research they'd see that GHash.io is now hovering at around 40%, NOT the 51% everyone is claiming.

I'm actually going to start linking people to the pie charts if I keep seeing this stupidity. It's not funny anymore. Do something by yourself instead of having it fed to you by people on the forum.

GHash.io has been dropping for the past few days. I think everything's is kind of getting resolved.

You should follow your own advice and do some research yourself.

Look at this before you make assumptions

Good to know you were spoon fed too.

Are you serious?

Ok then you tell me where this hyper-accurate chart is.

It was unnecessary to say "Good to know you where spoon fed too" but the concept is the same. The chart even shows decreases over the past few days.

Bro, the post just above this one (yours) says that I have some of my miners pointed at GHash, call it selfish or whatever I don't give a fuck anymore bcoz people are just too blind to see a few things that are so fucking obvious.
That being said, I am not neither with or against GHash, I am against the fact that the core dev team allowed this to happen.

I will leave it at that so I can respond to the post above this one.
Have a good one.

Gimmelfarb

hero member

Activity: 658

Merit: 500

this has been a very big weakness for a long time, and i hope that bitcoiners and miners come to realize it. why tout decentralization if the building blocks of the network (miners) are centralized? especially when we have the capability not to mine in this manner?

phillipsjk

legendary

Activity: 1008

Merit: 1001

Let the chips fall where they may.

Quote from: Stevbenson on June 15, 2014, 08:33:08 AM

WTF man! You think they have over 51% and you still point miners at them... Where is your logic?!?

Think about it, if they have more than 51% what is 720Gh going to do if I remove it from them?
720Gh means jack shit for hashing power. Apart from that I would like to at least get my investment back (which I didn't yet).
I also have more than that on other pools - I don't like to keep all my eggs in one basket Wink

Raindrops become a torrent.

Quote from: phillipsjk on June 15, 2014, 03:53:17 PM

... Recently, my brother reminded me that I claimed a 51% attack could not happen because people would desperately add hash-power to the network (even at a loss) to stop it.

People seem to be saying: "my hash-power does not make a difference, so I might as well benefit from the lower variance." The unseen risk is that concentration on only one pool may dramatically increase the variance in price.

Yakamoto

legendary

Activity: 1218

Merit: 1007

Quote from: S4VV4S on June 15, 2014, 05:24:50 PM

Ok if ANYONE does their own research they'd see that GHash.io is now hovering at around 40%, NOT the 51% everyone is claiming.

I'm actually going to start linking people to the pie charts if I keep seeing this stupidity. It's not funny anymore. Do something by yourself instead of having it fed to you by people on the forum.

GHash.io has been dropping for the past few days. I think everything's is kind of getting resolved.

You should follow your own advice and do some research yourself.

Look at this before you make assumptions

Good to know you were spoon fed too.

Are you serious?

Ok then you tell me where this hyper-accurate chart is.

It was unnecessary to say "Good to know you where spoon fed too" but the concept is the same. The chart even shows decreases over the past few days.

Willisius

sr. member

Activity: 364

Merit: 250

I'm really quite sane!

Quote from: Stevbenson on June 15, 2014, 08:33:08 AM

Quote from: S4VV4S on June 15, 2014, 08:24:21 AM

Quote from: devphp on June 15, 2014, 08:05:19 AM

Ghash is back to 33%, you can go back to sleep now, nothing to see here.

They are hiding their real power.

I think the 51% we witnessed was a demonstration of power. I do not know for what reason.

They could have blocked miners as to keep their hash rates down as they did before, but they didn't.

I would say that GHash has MUCH more than 51%.

That being said, I do have some of my miners pointed at them.

EDIT: On the subject, NO, I don't believe that BTC is decentralized anymore.
In fact, the fact that we depend on the core dev team for anything means it is centralized, and from what I understand the core dev team is under the TBF orders.
Apart from that BTC mining is completely centralized.

WTF man! You think they have over 51% and you still point miners at them... Where is your logic?!?

Think about it, if they have more than 51% what is 720Gh going to do if I remove it from them?
720Gh means jack shit for hashing power. Apart from that I would like to at least get my investment back (which I didn't yet).
I also have more than that on other pools - I don't like to keep all my eggs in one basket Wink

Emphasis added

The problem there is that many agree with you. It adds up.

S4VV4S

hero member

Activity: 1582

Merit: 502

Ok if ANYONE does their own research they'd see that GHash.io is now hovering at around 40%, NOT the 51% everyone is claiming.

I'm actually going to start linking people to the pie charts if I keep seeing this stupidity. It's not funny anymore. Do something by yourself instead of having it fed to you by people on the forum.

GHash.io has been dropping for the past few days. I think everything's is kind of getting resolved.

You should follow your own advice and do some research yourself.

Look at this before you make assumptions

Good to know you were spoon fed too.

Are you serious?

Yakamoto

legendary

Activity: 1218

Merit: 1007

Ok if ANYONE does their own research they'd see that GHash.io is now hovering at around 40%, NOT the 51% everyone is claiming.

I'm actually going to start linking people to the pie charts if I keep seeing this stupidity. It's not funny anymore. Do something by yourself instead of having it fed to you by people on the forum.

GHash.io has been dropping for the past few days. I think everything's is kind of getting resolved.

You should follow your own advice and do some research yourself.

Look at this before you make assumptions

Good to know you were spoon fed too.

S4VV4S

hero member

Activity: 1582

Merit: 502