Who the hell is still mining on GHash.IO? GTFO that pool already!!!

ShibecoinSucks

member

Activity: 112

Merit: 10

Quote from: cyberpinoy

I am convinced Ghash is purposely trying to hit the 51% mark, I dont understand it all, but in order to be a member of Ghash you have sign up in their CEX.Io exchange, I dont like that, moo then from what I could tell they are renting your hashrate, It is very confusing, and seems like a circle of monopoly they want to run. I think at this point the people joining them are the ones who want to see that 51% hit just to see if they can make the coin fail. I guess you can battle against the stupid and ignorant, It would not surprise me to see that barclays bank or JP Morgan were the funding behind Ghash.io to be honest with you. those 2 places more than any want to see the bitcoin fail and be wiped off the face of finances forever.

I totally agree, I think some powerful banking industry is behind this. They want 51% and when they get it, BTC will be destroyed. I'm sure they have themselves invested in a way that they make money on the crash as well.

this is a serious threat to BTC, and more people need to do more about it, we need strong leadership on this.

Posted From bitcointalk.org Android App

ChuckBuck

hero member

Activity: 1372

Merit: 783

better everyday ♥

Quote from: timk225 on June 15, 2014, 10:36:48 PM

I think they should reach 51% mining and seriously screw up BTC, at least temporarily, because this will happen:

1. BTC price will take a huge lumpkin dive.

2. Then while the price is low low low, I will buy lots of BTC and hold.

3. Then when the price recovers, I will cash out for a huge profit.

This is a great plan! 51% BTC, Ghash pool!

What country is an .io name extension from?

British Indian Ocean territory, or also used by Internet Startups and IT organizations because it's an abbreviation for Input/Output.

kickbit

sr. member

Activity: 276

Merit: 250

In Blockchain We Trust!

I'm sure they have all these PH/s due to their own data centers, not regular miners

hermi

newbie

Activity: 21

Merit: 0

I have a good server, I someone can help me setup an miningpool script I can offer 0 % fee

ManeBjorn

legendary

Activity: 1288

Merit: 1004

eleuthria of BTCG is always on here interacting and giving out info. He does it in many threads both for BTCG and Scrypt Guild as well as in the Eligius thread recently as well about the block denial attack.

Quote from: DrG on June 15, 2014, 01:19:47 AM

When you don't have a pool operator communicating on a regular basis with the community like Bitminter's or BTCG's pool ops you can't really understand the intentions of the pool. Why people would lend them their hashing power just to make a few more satoshis is beyond me. As I said before it's like tossing away $5 to get a couple of pennies.

timk225

hero member

Activity: 955

Merit: 1004

I think they should reach 51% mining and seriously screw up BTC, at least temporarily, because this will happen:

1. BTC price will take a huge lumpkin dive.

2. Then while the price is low low low, I will buy lots of BTC and hold.

3. Then when the price recovers, I will cash out for a huge profit.

This is a great plan! 51% BTC, Ghash pool!

What country is an .io name extension from?

DrG

legendary

Activity: 2086

Merit: 1035

When you don't have a pool operator communicating on a regular basis with the community like Bitminter's or BTCG's pool ops you can't really understand the intentions of the pool. Why people would lend them their hashing power just to make a few more satoshis is beyond me. As I said before it's like tossing away $5 to get a couple of pennies.

Zuminest

full member

Activity: 169

Merit: 100

GHASH offer alot of nice shiny perks. Not to mention following the heard. "Oh, 50% of people mine with GHASH? I'm gonna mine there!" Mentality. IMO. Grin

cyberpinoy

hero member

Activity: 1008

Merit: 502

I am convinced Ghash is purposely trying to hit the 51% mark, I dont understand it all, but in order to be a member of Ghash you have sign up in their CEX.Io exchange, I dont like that, then from what I could tell they are renting your hashrate, It is very confusing, and seems like a circle of monopoly they want to run. I think at this point the people joining them are the ones who want to see that 51% hit just to see if they can make the coin fail. I guess you can battle against the stupid and ignorant, It would not surprise me to see that barclays bank or JP Morgan were the funding behind Ghash.io to be honest with you. those 2 places more than any want to see the bitcoin fail and be wiped off the face of finances forever.

Swordsoffreedom

legendary

Activity: 2884

Merit: 1115

Leading Crypto Sports Betting & Casino Platform

It looks like the recent Distributed Denial of Service attack on the system got some miners moving
That or the site was down for me
https://blockchain.info/pools?timespan=24hrs

Seems to be down to 35% hope that it stays around there and does not happen to rise up again

ChuckBuck

hero member

Activity: 1372

Merit: 783

better everyday ♥

Bravo on Bitcoin industrial mining giant, Bitfury, for moving off of Ghash.IO!

This is what we need more of. More of the big fish and whales moving off that pool, as small time miners, though valiant, won't make a noticeable dent in overall hashrate like when a company the size of Bitfury does it.

http://www.coindesk.com/bitfury-pulls-power-ghash-community-uproar/

They're an asic manufacturer that mines for themselves and never hid it, but at least their actions moving off Ghash is a big time win for all of us. Kudos Bitfury!

googlemaster1

sr. member

Activity: 280

Merit: 250

Screw low Variance. I've mined a couple more BTC than I should have by taking a risk on Slush.

Our pool luck has hovered at around 115% for the last month and a half at least.

Pool luck (1 day, 7 days, 30 days): 123%, 107%, 114%

Maybe some of you other kids with a few Terrahash can nut up and take the plunge on potential payouts like above, eh?

jonnybravo0311

legendary

Activity: 1344

Merit: 1024

Mine at Jonny's Pool

Quote from: Collider on June 14, 2014, 06:05:59 AM

eligius merged mining doesn´t work anymore, as it doesn´t accept nmc adresses.

GH.io pays TX fees, merged mines 3 or 4 coins, has no fees.

If there is another pool like that out there, many would switch.

Many p2pool operators merge-mine. I do. Mdude77 does. Also, a bunch of us have committed to donating the proceeds from merge mining right back into p2pool, so every miner benefits. Hunterbunter created an easy-to-use donation tool that donates to p2pool miners.

The only difficulty is that the merge mining payouts are not automated. We are manually converting them to BTC on whatever exchanges, and then donating the BTC.

Collider

hero member

Activity: 714

Merit: 500

eligius merged mining doesn´t work anymore, as it doesn´t accept nmc adresses.

GH.io pays TX fees, merged mines 3 or 4 coins, has no fees.

If there is another pool like that out there, many would switch.

ManeBjorn

legendary

Activity: 1288

Merit: 1004

If they pay the TX fees that is news to me. Last I knew they did not.
BTCG merge mines as well. Eligius does as well.
NastyPool is working on adding it.
There are plenty of other pools that do as well.

Quote from: Collider on June 14, 2014, 05:40:50 AM

You are misinformed.

Ghash pays transaction fees too, aswell as merged mining.

If somebody sets up a p2pool node with ~0,5% fees and merged mining i would be in though.

Collider

hero member

Activity: 714

Merit: 500

You are misinformed.

Ghash pays transaction fees too, aswell as merged mining.

If somebody sets up a p2pool node with ~0,5% fees and merged mining i would be in though.

ManeBjorn

legendary

Activity: 1288

Merit: 1004

There are many equally awesome pools.
BTCGuild which even though it charges a fee it pays miners transaction fees so in the end I make more there than at ghash.
Eligius has 0% fees and great statistical information.
NastyPool is a P2Pool with 0% fees and has the best implimentation of P2Pool I have tried to date.
There are many better options.
The problem is people are dazzled by a shiny web interface and supposed 0% fee. ghash does not pay miners TX fees so they make a ton off your mining. As Bitcoin continues to be more and more widely used those fees will grow and eventually outgrow the mining reward. If you think ghash will ever give you that you are mistaken.

Quote from: Collider on June 14, 2014, 03:01:09 AM

24 h hashrate of GH is 43% again, so stop worrying.

Even if they have 51% for a short time, they would have to actively want to do something malicious in order to cause any harm.

I am wondering why nobody is building an equally awesome pool so there will be less problems in the future.

Collider

hero member

Activity: 714

Merit: 500

24 h hashrate of GH is 43% again, so stop worrying.

Even if they have 51% for a short time, they would have to actively want to do something malicious in order to cause any harm.

I am wondering why nobody is building an equally awesome pool so there will be less problems in the future.

koryu

hero member

Activity: 681

Merit: 507

wonder how much percent of the unknown belongs to ghash -.-

STT

legendary

Activity: 4102

Merit: 1454

They could franchise their operation but I guess people like this large pool because it has the most regular payouts, lowest variance.

My thought on ghash is that it could be or would be the best fifth column attack on BTC possible for the least effort and money. The smartest maybe quickest way to defeat an enemy is to have them destroy themselves. So if the head of ghash could subvert, deliberately provoking this problem then at the right time he has the power to undermine the whole network and destroy everything.

All it takes is maybe a 1 million bribe to the head or admin even of ghash and thats how bitcoin died? Maybe its possible to even make back that 1 million, maybe visa pays this money to thwart a rival maybe the nsa, 1 mill is pocket change especially if it can be offset against future benefits. Corporate espionage isnt fiction, why wouldnt someone want to kill it

Topic: Who the hell is still mining on GHash.IO? GTFO that pool already!!! (Read 4625 times)