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Topic: stop mining at ghash.io you FUCKTARDS (Read 7530 times)

Biomech

legendary

Legendary level

Activity: 1372

Merit: 1022

Anarchy is not chaos.

Quote from: Gator-hex on February 18, 2014, 05:44:37 PM

Quote from: Biomech on February 18, 2014, 05:14:54 PM

As to them being in London's financial district... They aren't. It's just an office. They are, IIRC, a Russian company.

I can believe that because strangely they appeared around the same time as 50BTC disappeared/got hacked? Wink

Wink

I haven't really followed that tale, so I don't know. I do know that ghash and CEX were always linked, and that they built a huge farm based on bitfury chips. This was all out in the open. The way they are structured lends no "conspiracy" to their feeless structure.

What if any relationship they bear to 50BTC I have no idea.

Gator-hex

hero member

Activity: 490

Merit: 500

Quote from: Biomech on February 18, 2014, 05:14:54 PM

As to them being in London's financial district... They aren't. It's just an office. They are, IIRC, a Russian company.

I can believe that, didn't they strangely appeared around the same time 50BTC disappeared/got hacked? Wink

Wink

Biomech

legendary

Legendary level

Activity: 1372

Merit: 1022

Anarchy is not chaos.

Quote from: TechByPC on February 18, 2014, 04:38:33 PM

I hate to add to the conspiracy, but I do love a good conspiracy theory Grin

Grin

They charge no fees for trading and have 0% fees on their pool. The maintenance fee is not high enough to be the sole source of income. What is their financial motivation to provide this service? Crashing Bitcoin value and then relaunching the Bitcoin concept as a government/banking backed system would potentially be very profitable. I don't see where crashing the value of Bitcoin hurts them at all.

They own a lot of the hashing power on their own pool. That's direct profit. They are part of the same group as CEX, who's per share (~4 USD/GH) is outrageously expensive. If they reinvested 90 percent into hardware to keep up with/expand the network, they would still be profiting handsomely.

On it's surface, you have an interesting argument, but it don't hold up.

As to them being in London's financial district... They aren't. It's just an office. They are, IIRC, a Russian company.

I don't mine with them, as they were difficult to set up for me, and Eligius is not. And frankly, Wizkid provides better customer service.

TechByPC

full member

Activity: 168

Merit: 100

I hate to add to the conspiracy, but I do love a good conspiracy theory Grin

Grin

They charge no fees for trading and have 0% fees on their pool. The maintenance fee is not high enough to be the sole source of income. What is their financial motivation to provide this service? Crashing Bitcoin value and then relaunching the Bitcoin concept as a government/banking backed system would potentially be very profitable. I don't see where crashing the value of Bitcoin hurts them at all.

Gator-hex

hero member

Activity: 490

Merit: 500

Quote from: davispuh on February 16, 2014, 07:07:32 AM

Quote from: dyask on February 17, 2014, 08:42:41 PM

It is shocking that someone could be around for so long and not understand how unlikely or little impact a 51% attach would be.

It's happening right now. When a pool can put down 6 blocks in a row it means you cannot trust a transaction isn't a double spend until you have 6+ confirmations. Now imagine they colluded with the next biggest pool, that would become transactions 12+ transactions! Once the trust in the transaction system is broken Bitcoin will become worthless.

Quote from: johncarpe64 on February 18, 2014, 11:14:02 AM

I don't understand why people is so afraid of 51%. Its not like Ghash would want their business to die..

Dude did you miss the part where I posted their address was on the same street as the Bank of England in the City of London where all the other old money banks are located? Who has the most to gain from seeing Bitcoin destroyed, oh yeah, the banks!

johncarpe64

sr. member

Activity: 420

Merit: 250

I don't understand why people is so afraid of 51%. Its not like Ghash would want their business to die..

Ripdon007

full member

Activity: 280

Merit: 100

check out this new bitcoin pool i think it's got a lot of potential.. it's really not so much about a 51% attack but a lot more to do with balancing the overall hashrate between bitcoin pools.
https://bitcointalksearch.org/topic/new-directpoolnet-btc-fee-1-pay-tx-pplns-nmc-vardiff-giving-back-472122

dyask

hero member

Activity: 854

Merit: 510

Quote from: Gator-hex on February 17, 2014, 07:00:29 PM

Yep, keep joining the biggest pool until they can screw with the blockchain then kiss the value of your Bitcoins goodbye! Kiss

Kiss

I keep saying we need to weigh the protocol in favor of the smallest pools by giving them the bulk of the transaction fees to balance the network. Nobody is going to want to mine on a pool with high variance unless there is an incentive to do so.

It is shocking that someone could be around for so long and not understand how unlikely or little impact a 51% attach would be. Almost nothing compared to the damage MtGox has already done!

If you want to balance the pools for more fairness, maybe you have a point. But the pools can balance themselves by offering better service.

P2Pools is clearly not a great solution either. Every tried to send something out of a wallet that you been getting P2Pools mining awards from? Ugh!

Gator-hex

hero member

Activity: 490

Merit: 500

Yep, keep joining the biggest pool until they can screw with the blockchain then kiss the value of your Bitcoins goodbye! Kiss

Kiss

I keep saying we need to weigh the protocol in favor of the smallest pools by giving them the bulk of the transaction fees to balance the network. Nobody is going to want to mine on a pool with high variance unless there is an incentive to do so.

spooderman

legendary

Legendary level

Activity: 1652

Merit: 1029

accualy is 51% attack.

atc1

sr. member

Activity: 308

Merit: 250

Guys,Eligius. Guis,pls.

flower1024

legendary

Legendary level

Activity: 1428

Merit: 1000

Quote from: spooderman on January 09, 2014, 05:46:26 AM

As title says!

+1

davispuh

newbie

Activity: 12

Merit: 0

I really don't like it...

https://i.imgur.com/by0E9jv.png

johncarpe64

sr. member

Activity: 420

Merit: 250

No, ghash is really a good pool...

DrG

legendary

Legendary level

Activity: 2086

Merit: 1035

Quote from: AussieHash on February 16, 2014, 04:47:40 AM

Ghash just mined 11 if the past 15 blocks in a row (including 6 consecutive blocks)

Apparently the blind leading the blind.

AussieHash

hero member

Activity: 692

Merit: 500

Ghash just mined 11 if the past 15 blocks in a row (including 6 consecutive blocks)

dmcl

newbie

Activity: 42

Merit: 0

humble newbie here will be staying on cex/ghash for the time being anyway.. i may play the lotto and solo mine or occasionally mine in slush's pool with some antminers or something but id say the bulk of my mining will be on cex/ghash. the trading BTC to GHS and back and forth is also a bonus. i got into bitcoins only like a week ago and im finding it fairly easy there.. also fairly easy to sell high and buy low 99% of the time providing you keep a level head and dont panic buy/sell

will be interesting to see what happens when the new TOS roll out.. plenty of speculation in the trollbox on the trade page.

AussieHash

hero member

Activity: 692

Merit: 500

Quote from: wollek on February 03, 2014, 06:02:24 AM

@ AussieHash

what you say (e.g. "Ghash pool miners there received no rewards from blocks ") is not correct.

http://awesomescreenshot.com/0b12amhdf6

All my mining is payed absolute correctly by them! (and with the bonus of NO FEES!)
And after 3 month bitcoining i would say that cex.io is an absolute fair business partner, what i can't say from others!

just my 2 cents...

I have updated the post above.
Ghash is a fantastic value proposition - 40% of blocks mined, merged mining, low variance - 100% profit.
Vs bitminter 1% fee, lots of variance
Vs btcguild 3% fee, 25% network hashrate

BTCGuild's rolling 3month luck is 103% +/- 0.9% and they pay out orphans/rejected blocks

If ghash has say 100% luck and 3% rejected blocks you would be worse off than BTCGuild (which has 1% orphans/rejects but these are paid to miners). Ghash also probably only has 95% uptime, and are hopable. Their work shifts are only 6 minutes (vs 50-120min on other pools) - so if they have a pool or CEX hosted interruption, you won't mine many blocks, but when the hashrate recovers the others can earn back in to 100% earnings very quickly

wollek

newbie

Activity: 34

Merit: 0

@ AussieHash

what you say (e.g. "Ghash pool miners there received no rewards from blocks ") is not correct.

http://awesomescreenshot.com/0b12amhdf6

All my mining is payed absolute correctly by them! (and with the bonus of NO FEES!)
And after 3 month bitcoining i would say that cex.io is an absolute fair business partner, what i can't say from others!

just my 2 cents...

shawk08033

newbie

Activity: 40

Merit: 0

Mine on http://infinti-pool.("tk")(remove (" and") forums doesn't like my domain) its only a 0.01% fee.

Dont be afraid of the domain name its legit.

CEX.IO really should allow you to pick you pool to mine on.

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Bitcoin Forum>Bitcoin>Mining>Pools

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