Why everybody talk about 51 %? 50.00001 % is not enough?
The term 51% is "hype" word, actually 40% would be enough to make serious trouble.
Topic: It's already 48%, No one care about Ghash? - page 2. (Read 5183 times)
The term 51% is "hype" word, actually 40% would be enough to make serious trouble.
Why everybody talk about 51 %? 50.00001 % is not enough?
This is a flaw in bitcoin itself. CEX.IO today.........China, Russia, USA tomorrow.
WTF, why are miners so clueless?
i sold 51% of my bitcoins, not kidding
Satoshi didn't plan the birth of pool when he projected bitcoin with the 51% attack possibility.
i think he thought about it, but he couldn't find a good solution
He properly assumed that the miners would use their brains when selecting their pool.
Something like, oh I dont know, proof of stake, or vertcoin? This problem isnt new, and it isnt going away. I think its not just an issue, it is THE issue...
Herein lies the catch 22 with ASIC mining:
Initially, ASIC mining makes the network exponentially more secure. But in the end, ASIC mining will make the network MUCH LESS secure.
Herein lies the catch 22 with ASIC mining:
Initially, ASIC mining makes the network exponentially more secure. But in the end, ASIC mining will make the network MUCH LESS secure.
Ghas.IO working on "mining decentralization solution"
http://imgur.com/3IInTSR
but in the long run we have to find a solution that this is impossible do to or at least much much harder.
http://imgur.com/3IInTSR
but in the long run we have to find a solution that this is impossible do to or at least much much harder.
Their support doesn't even sound like native english speakers - which is fine actually, but anyway it's not reassuring, I don't think they CAN 'decentralize' it without losing control of their miners lol.. Pointing their hardware at a different pool doesn't change the fact they have CONTROL at any time to do a 51% attack.... =\
We just need a better mining model tbh..
So now ghash.io control 50% of the network, but they've turned off/hidden some of it so it looks better on a graph?
This doesn't inspire confidence.
This doesn't inspire confidence.
BitFury actually pulled several PH/s of their mining capacity from Ghash and directed it towards other pools.
I am amazed by the numer of ignorant greedy newbs who say that they don't give a shit.
I think we should at least consider the fact that perhaps the large number of 'ignorant greedy newbs' might actually be a significant smaller group, with a nefarious agenda.
/paranoia off.
So now ghash.io control 50% of the network, but they've turned off/hidden some of it so it looks better on a graph?
This doesn't inspire confidence.
This doesn't inspire confidence.
Ghas.IO working on "mining decentralization solution"
http://imgur.com/3IInTSR
but in the long run we have to find a solution that this is impossible do to or at least much much harder.
http://imgur.com/3IInTSR
but in the long run we have to find a solution that this is impossible do to or at least much much harder.
Satoshi didn't plan the birth of pool when he projected bitcoin with the 51% attack possibility.
i think he thought about it, but he couldn't find a good solution
Satoshi didn't plan the birth of pool when he projected bitcoin with the 51% attack possibility.
MORE p2pools and less idiots buying mining contracts that do not pay off.
It was sooooooo weak that a hardware manufacture had to resolve this instead of the pool itself. It really makes me have a lot less faith in bitcoin. The pool should have just made a very small fee instead of charging 0. That would have naturally reduced the share. Instead the pool operators just kept on going. Soooooo sad.
Time will tell.
We know the 51% magic number.. But what about the coins ?
How easy would such an attack be to carry out if you had 200,000 BTC to compliment the hashpower ?
https://bitcointalksearch.org/topic/miners-unite-block-the-fbi-coins-do-not-fund-violent-underground-organizations-650311
How easy would such an attack be to carry out if you had 200,000 BTC to compliment the hashpower ?
https://bitcointalksearch.org/topic/miners-unite-block-the-fbi-coins-do-not-fund-violent-underground-organizations-650311
ghash is a colossal threat .. the community should NEVER allow a mining pool this kind of power. News of a 51% attack would DESTROY Bitcoin by undermining our confidence in it.
Now you see why having only 1 bloackchain will not be acceptable. Having a backup suck as Litecoin or Peercoin are here for these very reasons and why they will continue to grow and gain marketshare
I am amazed by the numer of ignorant greedy newbs who say that they don't give a shit.
Please google "bitcoin 51% threat", learn about something before you start using it.
Please google "bitcoin 51% threat", learn about something before you start using it.
Agreed
Satoshi warned about this.
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