One thing I really don't understand why miners are so stupid...
We al know we have to spread the hashrate, in our own interest for not getting a 51% attack or a fork.
Still UTC miners are mining almost for 99% on only one pool
Why they don't listen in their own interest ?
First almost all miners where at www.ultracoinpool.info.
Now this pool close down soon for maintenance and everybody has to check out their rigs.
Now the majority (99,9%) seems to stepped over to www.ultracoins.info.
Almost all miners are at this pool
The other pools are still empty:
www.ultracoiners.info
http://utc.tumblingblock.com/
MINERS PLEASE BE AWARE THAT YOU HAVE TO SPREAD THE HASRATE OVER MORE THAN ONE POOL !!!
DO IT KNOW IN OUR ALL INTEREST AND NOT GETTING A 51% ATTACK !!!
We al know we have to spread the hashrate, in our own interest for not getting a 51% attack or a fork.
Still UTC miners are mining almost for 99% on only one pool
Why they don't listen in their own interest ?First almost all miners where at www.ultracoinpool.info.
Now this pool close down soon for maintenance and everybody has to check out their rigs.
Now the majority (99,9%) seems to stepped over to www.ultracoins.info.
Almost all miners are at this pool
The other pools are still empty:
www.ultracoiners.info
http://utc.tumblingblock.com/
MINERS PLEASE BE AWARE THAT YOU HAVE TO SPREAD THE HASRATE OVER MORE THAN ONE POOL !!!
DO IT KNOW IN OUR ALL INTEREST AND NOT GETTING A 51% ATTACK !!!
I do not think you understand how a 51% attack works. However, you are correct that 99% of the hashing coming from one pool is a problem. But what motivation do miners have to switch pools when they lose 80% of their revenue by doing so?
Someone else suggested a system that increases fee structure when the hashing rate goes over 50%, that is a great idea. The only thing that will get miners to switch is when a more profitable option opens up, that's just the nature of mining. It's extremely competitive and no one is going to mine at a giant loss because "it's the right thing to do". They are going to mine wherever the profits are highest.
If you want them to switch take away their revenue and they will switch. Calling out a general group of people who probably don't even read this forum isn't going to get you very far. Even if they do read this forum, they don't care about the 51% attack, they care about immediate mining profits.
miningpoolhub uses an incremental fee system that seems to have worked.
Pool's hash share - Fee
0~45% - 1% Fee
46~50% - 2% Fee
51~100% - 2% Fee + 0.5% raise every day.
On a particular coin I have mined they usually peak at 33%. They used to have over 51% until they implemented the increasing tax system. If all pools coordinated in like manner, the motivation to relocate would be enough to keep a relatively fair distribution without the 51% problem.
Pool's hash share - Fee
0~45% - 1% Fee
46~50% - 2% Fee
51~100% - 2% Fee + 0.5% raise every day.
On a particular coin I have mined they usually peak at 33%. They used to have over 51% until they implemented the increasing tax system. If all pools coordinated in like manner, the motivation to relocate would be enough to keep a relatively fair distribution without the 51% problem.
Thanks Bret and Kracko for this good points.
But the pool owners don't do it for free.
To develop, maintain and keep it online cost (a lot) money.
I don't see it that they can/will do that for only 1% or 2% pool fee
Hi RichardMiner,
if I got Kracko right, it is not the 1% or 2% that is important, but the 0.5% raise every day.
1 or 2 is just an "arbitrary" value, the steady raise every day makes the difference! This keeps the pools balanced.
Regards,
Janus
@RichardMiner. At 3% fee, the 1.5mh/s that the ultracoins.info pool has only brings in around $212 a month at current prices, not including transaction fees and donations. That would cover the cost of the dedicated server, but not the operation and maintenance, at least not my time. From a pool owner's perspective, there's nothing significant to be made at this stage. It's more about setting up the infrastructure and paving the way for future expansion. The big money is being in at the floor as a stakeholder and having your stake expand exponentially down the road.
@Janus. Exactly. The base amounts aren't as important as they can be scaled for volume. With enough of a net hash rate, competition from other pools will force lower values as they try to draw as more players into the game. It is the increasing penalty for inaction that will motivate.
