Topic: People mining at GHhash.io: you are about to destroy your own profits. Wake up! (Read 1691 times)
January 09, 2014, 03:29:32 PM
IF a 51 percent attack killed bitcoin, our altcoin portfolios may skyrocket
January 09, 2014, 03:24:37 PM
being new at this I don't know what could happen in if one pool gets over 50% of the hashing power. What could happen and why?
January 09, 2014, 10:36:46 AM
I noticed this trend way before now, no one even cared.
January 09, 2014, 10:18:41 AM
Copy/paste from another thread on this matter:
Dear miners,
Nothing against GHash.io, not implying they would abuse their 51% power (if they would acquire it), and not saying they are malicious in any way.
But a single entity having 51% is something we should avoid at all cost. Let's NOT take the risk and wait until something bad happens. For all of us Bitcoin users, and especially you miners, it's paramount that the Bitcoin network remains stable, solid, trustworthy, and maintains its decentralized nature.
We urgently call upon you to switch to one of the smaller mining pools NOW, before it's too late. The reward difference for you as miners is minimal, especially compared to what happens if the 51%-shit actually hits the fan. Bitcoin is powered by all of us... Unless we deliberately hand over the power to a single entity and sit back until something goes wrong.
Please, don't ignore this and regret it later.
Dear miners,
Nothing against GHash.io, not implying they would abuse their 51% power (if they would acquire it), and not saying they are malicious in any way.
But a single entity having 51% is something we should avoid at all cost. Let's NOT take the risk and wait until something bad happens. For all of us Bitcoin users, and especially you miners, it's paramount that the Bitcoin network remains stable, solid, trustworthy, and maintains its decentralized nature.
We urgently call upon you to switch to one of the smaller mining pools NOW, before it's too late. The reward difference for you as miners is minimal, especially compared to what happens if the 51%-shit actually hits the fan. Bitcoin is powered by all of us... Unless we deliberately hand over the power to a single entity and sit back until something goes wrong.
Please, don't ignore this and regret it later.
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