Reasons of Price Drop | Bitcointalksearch.org

Bitcoins101

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Quote from: RandomPedestrianN9 on June 09, 2014, 12:40:08 PM

Quote from: bryant.coleman on June 09, 2014, 12:38:44 PM

I don't know why people get so nervous with GHash.io. They have made it clear multiple times that they will never ever use the 51% attack. In case they execute such an attack, it will affect them more than anyone else.

And i should totally trust to some mysterious entity on the internet.

I have no problem trusting someone to not purposefully lose money. They're making a fortune - why would they ruin that for a few dollars?

That being said, there is always the risk that control of ghash.io could be compromised, so it definitely is better that they stay below 51%. Miners will make sure of that though and just switch when they near 51%.

Parazyd

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Space Lord

Quote from: bryant.coleman on June 09, 2014, 12:38:44 PM

I don't know why people get so nervous with GHash.io. They have made it clear multiple times that they will never ever use the 51% attack. In case they execute such an attack, it will affect them more than anyone else.

What if NSA gives an immoral offer?

RandomPedestrianN9

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Quote from: bryant.coleman on June 09, 2014, 12:38:44 PM

I don't know why people get so nervous with GHash.io. They have made it clear multiple times that they will never ever use the 51% attack. In case they execute such an attack, it will affect them more than anyone else.

And i should totally trust to some mysterious entity on the internet.

bryant.coleman

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I don't know why people get so nervous with GHash.io. They have made it clear multiple times that they will never ever use the 51% attack. In case they execute such an attack, it will affect them more than anyone else.

Parazyd

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Space Lord

About ghash.io:

Quote

The news prompted Ghash.io to issue a statement on the matter at the time, in which the pool said:

“GHash.IO will take all necessary precautions to prevent reaching 51% of all hashing power, in order to maintain stability of the bitcoin network.”

They added that, “[their] plans are to expand the bitcoin community as well as utilise the hashing power to develop a greater bitcoin economic structure.”

“If something happened to Bitcoin as a whole it could risk our investments in physical hardware, damage to those who love Bitcoin and we see no benefit from having [a] 51% stake in mining.”

arruah

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Butterfly labs reveals the Monarch.

celestio

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MtGox bankruptcy is definitely one of the major reasons for the recent price drop.

blatchcorn

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Quote from: newIndia on June 09, 2014, 11:22:53 AM

I've been fed up of seeing reasons that may cause price drop. So I'm trying to list them out. Please add your reason...

1. China banned Bitcoin (worked for 3-4 time)

2. Ghash.io is nearing 51% (worked twice)

I'll try to update the list occasionally...

Not sure that will cheer you up

newIndia

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I've been fed up of seeing reasons that may cause price drop. So I'm trying to list them out. Please add your reason...

1. China banned Bitcoin (worked for 3-4 time)

2. Ghash.io is nearing 51% (worked twice)

3. Mt. Gox fall is fall of Bitcoin (upcoming ones => Bitstamp is insolvent & BTC-e is run by anonymous people)

I'll try to update the list occasionally...

Latest Update: Point 3 added

Topic: Reasons of Price Drop (Read 836 times)