when it comes to trying to get pools to do something that is ethical.. remember...
pool owners are greedy. if they have 10% hash that is 360 coins (out of 3600 coins a day mined) and the pool owner keeps 1% = 3.6btc
if the pool has 50% that is 1800 coins which the pool owner keeps 1% of = 18btc.
so tell me why a pool would agree to not receive 18bitcoin a day income for the owner personally.. and only get 3.6btc by implementing a code/rule where pools should not ethically run above 10% (fair distribution of hash over the 10 main pools) for instance
Topic: The solution to 51% crisis has already been invented: getblocktemplate (Read 1014 times)
June 15, 2014, 06:18:01 PM
June 15, 2014, 03:18:36 PM
GBT does not solve the 51% problem at all.
Already said that.Read *anything* before you post, please.
June 15, 2014, 01:47:24 PM
GBT does not solve the 51% problem at all.
Maybe the problem should be defined more precisely so that everybody can be sure they are talking about the same thing. 
June 15, 2014, 01:43:46 PM
GBT does not solve the 51% problem at all.
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June 14, 2014, 06:40:47 AM
I am not that familiar with Getblocktemplate so wouldn't mind an alternative explanation
My understanding of it is that all trust from solo miners goes to the pool operator and this gives it back to the solo miner in essence allowing them to control the block if I read it correctly.
It seems simple enough to implement for me so what would be some of the issues related to it?
My understanding of it is that all trust from solo miners goes to the pool operator and this gives it back to the solo miner in essence allowing them to control the block if I read it correctly.
It seems simple enough to implement for me so what would be some of the issues related to it?
June 14, 2014, 06:27:40 AM
Somebody mentioned on reddit that GetBlockTemplate does not actually solve the problem completely.
Well, too bad.
Well, too bad.
June 14, 2014, 05:54:35 AM
Interesting!
EDIT: How does it solve the 51% attack problem though?
Read with understanding, nowhere i said it solves "51% attack problem". I said it solves the current 51% crisis - big difference.EDIT: How does it solve the 51% attack problem though?
Getblocktemplate does not allow a pool operator to easily execute 51% attack even if he controls more than 51% of mining power, consisting of many individual miners.
June 14, 2014, 05:51:50 AM
GHash.IO hasn't implemented GBT yet. They could though.
June 14, 2014, 05:50:48 AM
Interesting!
EDIT: How does it solve the 51% attack problem though?
EDIT: How does it solve the 51% attack problem though?
June 14, 2014, 05:37:07 AM
It seems the solution to our 51% crisis has been already created and is called getblocktemplate.
https://en.bitcoin.it/wiki/Getblocktemplate
https://en.bitcoin.it/wiki/BIP_0022
https://en.bitcoin.it/wiki/BIP_0023
Or am I wrong somewhere ?
Another question is: Why aren't the big pools using it ?
Yet another question is: Why didn't Gavin at least mention it in his Bitcoin Foundation blog post ?
Also, check out (and possibly upvote) me on Reddit:
http://www.reddit.com/r/Bitcoin/comments/284frp/solution_to_51_crisis_getblocktemplate/
https://en.bitcoin.it/wiki/Getblocktemplate
https://en.bitcoin.it/wiki/BIP_0022
https://en.bitcoin.it/wiki/BIP_0023
Or am I wrong somewhere ?
Another question is: Why aren't the big pools using it ?
Yet another question is: Why didn't Gavin at least mention it in his Bitcoin Foundation blog post ?
Also, check out (and possibly upvote) me on Reddit:
http://www.reddit.com/r/Bitcoin/comments/284frp/solution_to_51_crisis_getblocktemplate/
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