Topic: Lab Rat Data Processing, LLC (LabRatMining) Official Announcement - page 28. (Read 452224 times)

Sometimes you have to pull off the bandaid.  If (not saying there's evidence) ghash is using their excessive hashrate to attack other pools, or to do double spends, or other nefarious activities, then it hurts bitcoin.  News of such activities will drive the price of bitcoin down, which gives LRM less buying power for buying new hardware which hurts our returns in the long run.  

If they aren't doing anything nefarious, then we should be able to get roughly the same return elsewhere.

If they are and enough people move their hashrate elsewhere then they won't be able to anymore.  

I see no harm, and potential benefit to moving.

@countduckula:  Since the unit of account here is bitcoin, you're technically right.  OTOH, many here would not be happy if the dollar value of their return plummeted, even though, measured in BTC, it increased.  Contributing to a pool controlling >50% of the network hashrate pretty much guarantees that.

In your quest for profit, it's important not to shit where you sleep.

You can overstretch it as run it to the ground or others may try to apply something that isnt even near related.

The phrase explains itself: "stay were we get more return from our hardware." if that is ghash.io? btcguild? slush?.. If its the best for our return, thats where we need to be.

Pure and simple.

It shouldn't be hard to run the maths and find out if they are overly lucky by a statistically significant amount. My guess is a lot of people are just grossly underestimating variance.

^Nothing to worry about.  OTHERS will pull out of ghash.io while he profits.
http://en.wikipedia.org/wiki/Prisoner's_dilemma

Ride it into the ground... or pull up just in time to earn more over the long haul?

I take it you would prefer to take it as hard as you can and ride Bitcoin to a faceplant?

Why? If we get 32 instead of 22... why we need to move out of ghash.io?

If we're getting 10-12 more coins a week... not sure when i went to loosing money just to avoid ghash.io.. less is more? 32? or 22?... thats about 6000 dollars a week. Ill say we stay were we get more return from our hardware.

Indeed, there is no proof.
Except, whoever is doing it has a lot of hashrate, probably more than they want to admit. And it seems like the only major pool profiting from this is Ghash.io.
I've seen the pitchforks broken out for less...
Also, keep in mind it's a good idea to avoid Ghash.io regardless of the block withholding attacks, seeing as 51% and such.



EDIT: Actually, strike that. I was wrong on both counts: it probably wasn't Ghash.io, and they certainly didn't profit from it. But still, 51% and such.

The two threads I have been following on this incident continue to be fascinating, but have shown no evidence of being related to ghash.io, despite my initial inflammatory post here.

ghash.io warrants some suspicion for various reasons, but make sure there is proof before breaking out the torches and pitchforks.



grnbrg.

This is the explanation:



Ghash.io have probably been pointing hashrate at other pools and performing block withholding attacks.
This allows them to collect rewards without submitting actual blocks, thus lowering the average payout per hash on other pools and increasing it on their own.
This is why they appear to have more luck.


Note that technically this isn't even stealing, it's just misrepresenting the total network hashrate.
If you think you have 0.5% of the total network hashrate, you expect to get 0.5% of all bitcoins mined. But as long as you're on BTCGuild, you actually have less than 0.5% of the total, because some of the total is hidden from sight. So you get less than 0.5% of all bitcoins mined and you attribute it to bad luck, although technically it's good luck with a smaller percentage of hashrate than expected.
If you're on Ghash.io, which apparently is the only major pool not subject to this attack, your hashrate actually does represent the percentage of the total that it seems to represent, because the hidden hashrate that doesn't produce blocks simply does not apply to you. So you get more per given hashrate.

The sad thing is, there's really nothing to be done about this short of hard forking. The only thing we can do at this point is boycott Ghash.io - and suffer the economic cost of doing so for the good of the network.

Didn't Eligius catch someone providing them with low dif, useless hashing, making the pool less 'lucky' than it ought to be? Maybe something similar has been happening elsewhere (except, of course, GHash). #conspiracytheory

Well... considering the following (which is the most I can easily extrapolate with Blockchain.info) I would say GHash is just suspiciously too lucky...

34:32:50 time between latest and oldest parsed block on the page showing their blocks reported
101 blocks found in that time frame
0:20:31 average time between blocks over this data set.
Current avg block time is 7.7 minutes... which is a 23% increase in hashrate than at adjustment right this second
Reducing the above average by the new total comparison hashrate (+23% more now than at adjustment) this is an adjusted block rate of 0:15:48 ( if there had been no additional hashpower added to the network)
Given the above without added hash power, their "51%" would garner a block time of 0:7:45 or 7.75 minutes vs. the average global 7.7 minutes
7.75 minutes is what GHash hashrate equates to minus increases on the network... and that is using the last 34+ hours of data AFTER THEY DROPPED TO 42% OF GLOBAL HASHRATE!!!!!

Maybe I have a weird way of looking at this... but to me that screams something is wrong...

This won't be an issue soon in the future as I will have all our hardware moved to a private pool with roughly 12PH/s on it as soon as it's launched.


Divs paid finally:

Payout: 5.38986336
Per Contract: 0.00003056


Bonus: 17.50271315
Per Contract: 0.00015623

Total Per Contract: 0.00018679

This number is very concerning to me as there should've been 10-12 more coins mined this week, but with ghash mysteriously solving more blocks than they should and all other pools (including BTCGuild where we're mining with the bonus equip) have solved less...  Not sure what I can do about this, but everyone needs to realize that something is going on.  It was between 1 and 2 coins a day lower payout than my calculator or any other calculator came up with for our equip.  I can assure you that I'm not happy about this as it means less coins for you, less for the company, and less for me.

EDIT: Direct from BTCGuild

Approximate Pool Luck* (24H / 3D / 1W / 2W / 1M / 3M / All Time): 66.301% / 65.832% / 82.802% / 87.931% / 94.378% / 89.131% / 97.852%)

on a 3M time scale a few percent is within range, but over 10% is impossible.  82% for the week and the last half of the week was only 66%?

Ideas?

This is why I run with the SMALL dogs. Bitminter is too tiny for anyone to bother it. 1% fee and extremely good uptime. They're more than 1% of the total bitcoin hashrate, so variability is at an acceptable level. If they do have uptime issues, all of my miners fail over to Slush - another tiny pool. Sometimes less really is more.

It was 1 block from an auto-payout, but now that I have those coins, CEX is being ddosed so I can't get on to get the other coins out for the regular distributions........

This sounds rather... peculiar.  Why would divs on already mined blocks require yet another block to be mined before the current divs can be sent out?

Divs are waiting on a payout from BTCGuild.  Once they get a block,  divs should follow shortly after.


grnbrg.

Okay I'll activate the "no jokes" 

I understand that it's a joke, but it is not funny, and as this is the first time you have participated in this thread, I was wondering why you are posting that here of all places? I'm sure there is a sub-forum on here for posting stuff like that, this just seems a very odd choice of places to start randomly spamming poor jokes...

I'm a miner and
this is just a joke.
Please do not bother!