Topic: This is why Ghash sucks and is worse than you think. (Read 4122 times)

Its not simple, somebody deciding to attack will simply set up a few pools and offer rewards.

This is an inherent flaw in any PoW coin.

Thats the problem, if government or other malicious entity decides to attack Bitcoin it will set up a few pools and offer big incentives or force a couple of the bigger pools and it will easily kill Bitcoin. This so totally anti decentralized that I am surprised that we have reached this stage.

You had some good questions, too bad he didn't answer them at all.

remember to read my interview with them on 51% and more - http://fuk.io/cexio-ghashio-jeffrey-smith-interview-exclusive/

There are other 0% fee pools out there.

Ghash is very good at marketing and making their stats pages, and website in general look very "pretty"

ROFLMAO

Good job digging yourself a bigger hole dumb ass.

You forget the part that miners mining bitcoins have financial incentives which they dont with scam coins.

Now i dont feel sorry for you at all losing money to the scams, suck living a hater's life.

Did you're mother have any children that lived dumb fuck? I guess you're too fucking stupid to realize the same things your stupid ass thinks could happen only to an altcoin can happen to Bitcoin too. Come back when you grow up and learn to recognize subtleties. My ignore list just keeps growing.

Your implied message is absolutely sickening to the core. Think hard about what you just said and find the fault that makes it incompatible with a trustless network.

You're just proving your stupidity.

Bitcoin miners are not mining scamcoins on Eligius. They're mining BTC. Your air head just doesnt get it does it?

How about we ban morons like you who just post random dumb posts that never answer a question.

That's not stupid but it would still have the effect of concentrating power in the hands of a few board members. Probably still a better idea than what we have now. I'm not sure where they would house the equipment; do they even have a brick & mortar office yet?

Maybe this is a stupid question, but if the Bitcoin Foundation is supposed to support the health of the bitcoin community couldn't they set up a free pool to compete with Ghash?  They could limit membership or something.  I guess that would really hurt the other pools, but Ghash is already doing that.

Agreed, there is no point for them to try anything malicious with all those profits from pool fee.
Even if something is to happen, i believe it would be fixed in short time.

But that kind of uncertinty is definetly not something bitcoin comunity should be proud about, in this insanely expensive market capitalisation to have such vonerabilities is something that should never come even as a possibility.

Interesting idea but I don't think spam would work because it's not a website were talking about. You don't sit and watch your pools front page all day.

Servers come in all sizes and speeds. They aren't grossly expensive but they aren't free. Here's a nice one for $10k
http://www.allhdd.com/7945h2u-ibm-system-x3650-m3-1x-intel-xeon-6-core-l5640-2-26ghz-4gb-ram-mga-g200e-2x-gigabit-ethernet-2u-rack-server-new-bulk-pack-.html

I agree with this fella.  Just because ghash.io hasn't done anything dishonest thus far doesn't mean it can't happen in the future.  Plus, having this much hash power in one location should external influences try and take over ghash.io is still an overall threat to the network.

Spam it with ads or something, people browsing stats can look at ads at the same time and the ads pay for holding the server up? Wouldn't this be the easiest solution?

Servers don't seem that expensive anyway.

Are you going to pay for it? Free pools aren't free for the operator. You need an ulterior motive to run a free pool.

Yay another 51% attack thread.

I don't think ghash will ever even plan any of that shit, they are profiting way too much already by people buying their gh/s and they get a huge % of their mining.

The solution to this "problem" could not be simpler.
We need more free pools.
Why is Eligius, with its difficult to comprehend CPPSRB payout system the only free alternative to free GHASH??

Simply make a free pool that is simpler to understand than Eligius and BAM...  problem solved.

GHASH interface  is cleaner than Eligius, and its payout scheme is easier to understand than Eligius'.

Shit Eligius pays out 105% NMC because many people can't even sign a transaction to get their share from the pool.

LukeJr and WK are smart and they're not lowering their standards to accommodate anyone.


What really sucks is that people like the OP here are sitting around complaining rather than pro-actively setting up a free pool to compete against GHASH.


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