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

jimlite

legendary

Activity: 1848

Merit: 1018

GHash should not allow over 40% of the net, period.
They should either redirect the hash to other multipools, then payout,
or raise their fees constantly to get people to leave when over 40%.
I only mined with them during their LTC promo, and now Coinotron has
the same problem going on with LTC. I personally use many good multi
pools. One of the best is in my sig.

ChuckBuck

hero member

Activity: 1372

Merit: 783

better everyday ♥

God damn those fuckers! I don't trust them one bit...

Quote

CEX.IO
?@cex_io
We are not intending to capture the 51% of the overall #Bitcoin hashrate. Working on solutions for decentralising Bitcoin mining. Stay tuned

These guys better come up with a good solution for this soon...

LightningBlade

sr. member

Activity: 259

Merit: 250

Quote from: TheJuice on June 13, 2014, 09:17:16 AM

We need a pool operator to set up and offer 0%

There are lots of 0% pool out there.

DrG

legendary

Activity: 2086

Merit: 1035

Quote from: TheJuice on June 13, 2014, 09:17:16 AM

We need a pool operator to set up and offer 0%

Which person is going to support other people's mining endeavors at his/her own wallet's expense? None that I know of (at least on a large scale).

We need to educate the retards who are pushing the public part of GHash.IO to 50% to get off that pool.

Save 1% in fees and mine a dead coin Huh

TheJuice

hero member

Activity: 843

Merit: 608

We need a pool operator to set up and offer 0%

whtchocla7e

full member

Activity: 392

Merit: 116

Worlds Simplest Cryptocurrency Wallet

Quote from: ?? on ??

But seriously though.

The whole point of having an open source, peer to peer distributed monetary system with a public ledger is so we don't need to trust any single entity.

Ghash.IO undermines the fundamental concept of why Bitcoin was created in the first place.

Satoshi would be turning in his grave right now. May her soul rest in peace. Cry

Well, maybe this monetary system is not as great as we all think.

Ghash is playing entirely within the parameters allowed by the system.

MelodyRowell

sr. member

Activity: 394

Merit: 250

I am

too lazy to switch.

Zelek Uther

hero member

Activity: 700

Merit: 504

Run a Bitcoin node.

For Bitcoin's sake, don't mine at the largest pool.

cosmicapex

member

Activity: 87

Merit: 10

As many have pointed out before, ghash.io has the best pool to point your hardware at because they've got the most useful features, and I think their popularity says it all.

Some features are, I would imagine, easy for other pools to implement such as being able to split your auto-payouts to multiple wallets on a percentage basis, something that's only attractive to large-scale multi-party operations.

If I was in cex.io's position I wouldn't dare double-spend, but then again I wouldn't start a ponzi scheme on wall street but that doesn't stop perfectly intelligent & sane individuals form doing it anyway because greed & power are the most addictive drugs you on earth.

DrG

legendary

Activity: 2086

Merit: 1035

Quote from: zvs on June 12, 2014, 11:08:59 AM

wtf do people continue to believe those %'s?

you seriously think they're tagging all their blocks?

not all of it is on a public pool

This is true. I think we have observed that the majority of their pool is in fact privately owner. When they have downtime less than 15PH was coming offline.

PatMan

hero member

Activity: 924

Merit: 1000

Watch out for the "Neg-Rep-Dogie-Police".....

Quote from: ccfoo242 on June 12, 2014, 02:54:32 PM

Quote from: ChuckBuck on June 12, 2014, 12:47:45 PM

They've already been caught double spending in 2013. Google Ghash.io and Betcoin Dice and you'll see a ton of results.

I also get tons of results when I google "homeopathy works" but that doesn't mean it actually works.

You don't believe their statement that they traced the culprit down to someone in the old development team? See https://bitcointalksearch.org/topic/m.3590902

No, I don't believe them.

The Bitcoin community had already traced it to them weeks before their flimsy cover-up statement. They denied it, they lied about it, they laughed about it in emails, then they admitted it.

jonnybravo0311

legendary

Activity: 1344

Merit: 1024

Mine at Jonny's Pool

Quote from: ChuckBuck on June 12, 2014, 03:12:46 PM

Quote from: ccfoo242 on June 12, 2014, 02:54:32 PM

Quote from: ChuckBuck on June 12, 2014, 12:47:45 PM

They've already been caught double spending in 2013. Google Ghash.io and Betcoin Dice and you'll see a ton of results.

I also get tons of results when I google "homeopathy works" but that doesn't mean it actually works.

You don't believe their statement that they traced the culprit down to someone in the old development team? See https://bitcointalksearch.org/topic/m.3590902

If you trust GHash.IO will do the right thing, I have a bridge in Brooklyn to sell you for Nigerian princes. Tongue

I'm fresh out of Nigerian princes... would you take some BFL gear that's guaranteed to ship in two weeks? Cheesy

ChuckBuck

hero member

Activity: 1372

Merit: 783

better everyday ♥

Quote from: ccfoo242 on June 12, 2014, 02:54:32 PM

Quote from: ChuckBuck on June 12, 2014, 12:47:45 PM

They've already been caught double spending in 2013. Google Ghash.io and Betcoin Dice and you'll see a ton of results.

I also get tons of results when I google "homeopathy works" but that doesn't mean it actually works.

You don't believe their statement that they traced the culprit down to someone in the old development team? See https://bitcointalksearch.org/topic/m.3590902

If you trust GHash.IO will do the right thing, I have a bridge in Brooklyn to sell you for Nigerian princes. Tongue

ccfoo242

newbie

Activity: 1

Merit: 0

Quote from: ChuckBuck on June 12, 2014, 12:47:45 PM

They've already been caught double spending in 2013. Google Ghash.io and Betcoin Dice and you'll see a ton of results.

I also get tons of results when I google "homeopathy works" but that doesn't mean it actually works.

You don't believe their statement that they traced the culprit down to someone in the old development team? See https://bitcointalksearch.org/topic/m.3590902

ChuckBuck

hero member

Activity: 1372

Merit: 783

better everyday ♥

Quote from: whtchocla7e on June 12, 2014, 12:42:54 PM

Let the miners decide where they want to mine.

I understand the concerns and I have my own but interference is not good.

Interference is worse than regulation.

Miners should be able to decide where to mine, but make an educated logical decision when doing so, however.

It's not interference, it's awareness. GHash.Io is a plague on this community and to the network.

They've already been caught double spending in 2013. Google Ghash.io and Betcoin Dice and you'll see a ton of results.

Nothing good can come out of trusting those shady operators.

whtchocla7e

full member

Activity: 392

Merit: 116

Worlds Simplest Cryptocurrency Wallet

Let the miners decide where they want to mine.

I understand the concerns and I have my own but interference is not good.

Interference is worse than regulation.

FordPrefect

newbie

Activity: 22

Merit: 0

I know they've been having issues over the last couple days. Not sure how much of it is "irritate the users til they leave" or if they're trying to shift some of their server farm somewhere else (private pool perhaps?) ... or maybe they just don't care. I recently sold my GHS to help fund a new S2, but til the pool shrinks a bit I've been on eligius with my s1's.

zvs

legendary

Activity: 1680

Merit: 1000

https://web.archive.org/web/*/nogleg.com

wtf do people continue to believe those %'s?

you seriously think they're tagging all their blocks?

not all of it is on a public pool

ChuckBuck

hero member

Activity: 1372

Merit: 783

better everyday ♥

And just like that GHash.IO is at it again. Up to 44% rather quickly today:

https://blockchain.info/pools?timespan=24hrs

This madness must stop somehow, they're out of control...

STT

legendary

Activity: 4102

Merit: 1454

Its par for the course I figure, a natural economy will periodically destroy itself. In capitalism its supposed to be the most unproductive elements become redundant (so its positive progression). Call it stupidity but its probably right in line that this kind of thing happens, its more accurate to say positive feedback where a situation is inclined towards failure by its own success.

This is why the FED exists they will tell you, to stop boom and bust cycles, to counter natural failure. So these giant pools are tending towards bust by their own (over)success and its normal? BTC needs a firebreak of some kind to stop that situation

http://en.wikipedia.org/wiki/Creative_destruction

smeagol

legendary

Activity: 1008

Merit: 1005

Quote from: ChuckBuck on June 11, 2014, 05:44:04 PM

Down to 39%, but I won't entirely feel safe until they're closer to 30%:

https://blockchain.info/pools?timespan=24hrs

At least either the pool operators themselves are reacting to the outrage, or some miners are wising up.

Probably a combination of both. We must all remain vigilant though. Keep reminding our fellow miners, and if you see anyone in this forum post stats or references to GHash, please ask them kindly to GTFO there. Cool

Emphasis on kindly! Cheesy

It's great to see the community actually heeding the call.

ChuckBuck

hero member

Activity: 1372

Merit: 783

better everyday ♥

Down to 39%, but I won't entirely feel safe until they're closer to 30%:

https://blockchain.info/pools?timespan=24hrs

At least either the pool operators themselves are reacting to the outrage, or some miners are wising up.

Probably a combination of both. We must all remain vigilant though. Keep reminding our fellow miners, and if you see anyone in this forum post stats or references to GHash, please ask them kindly to GTFO there. Cool

gperez2000

newbie

Activity: 22

Merit: 0

This is getting serious and the miners don't understand if Bitcoin goes down everything they had mined will be worth nothing together with their out of pocket investment(ASIC, GPU, ETC). Come on let's make bitcoin better and stable by doing the right thing. At this point miners at that pool are as guilty as GHASH or probably more.

Bitsaurus

hero member

Activity: 873

Merit: 1007

Quote from: DubFX on June 11, 2014, 02:37:16 PM

Are you blaming them because of insolvency or something like that or are you just affraid that they will abuse their powers?

They have abused their powers. They have been caught double spending by their admins before and they stated they knew nothing about it, then they recanted and said it wasn't a big deal. That alone proves they're willing to lie to the community.

The fact that at least 1/4 of the community is worried about their centralization and they have not taken any good faith efforts to control this (unlike BTCGuild who actually throttled their own growth) shows their arrogant assholes.

I'm surprised there hasn't been a massive DDoS...

DubFX

sr. member

Activity: 434

Merit: 250

Are you blaming them because of insolvency or something like that or are you just affraid that they will abuse their powers?

Bitsaurus

hero member

Activity: 873

Merit: 1007

Mining on this pool is like taking a shit in your own water reservoir. A little don't matter but pile it on and you'll be killing yourself.

ChuckBuck

hero member

Activity: 1372

Merit: 783

better everyday ♥

Quote from: Shogen on June 11, 2014, 09:39:58 AM

Quote from: ChuckBuck on June 11, 2014, 08:38:04 AM

Well I guess some peeps are heeding the call. Down to 43% in the last 24 hours, though we really need GHash.io to be ideally below a third of the hashrate to be truly safe.

Any idea how much hashrate on Ghash.io is from their own private farm now?

Not sure their personal farm breakdown, but in total they have almost 40 PH based on Organofcorti.blogspot.com.

Shogen

legendary

Activity: 966

Merit: 1001

Quote from: ChuckBuck on June 11, 2014, 08:38:04 AM

Well I guess some peeps are heeding the call. Down to 43% in the last 24 hours, though we really need GHash.io to be ideally below a third of the hashrate to be truly safe.

Any idea how much hashrate on Ghash.io is from their own private farm now?

ChuckBuck

hero member

Activity: 1372

Merit: 783

better everyday ♥

Well I guess some peeps are heeding the call. Down to 43% in the last 24 hours, though we really need GHash.io to be ideally below a third of the hashrate to be truly safe.

DrG

legendary

Activity: 2086

Merit: 1035

Well I guess they're just trying to fulfill the requirement that BTC have some crisis at all times. Mt Gox invalid papers, BTC fork, China bans BTC, Russia bans BTC, MT Gox hands away their customer's funds, Mt Gox blames BTC devs for critical flaw, GHash.IO decides 51% attack (the 2nd time) is not so bad.

guitarplinker

legendary

Activity: 1694

Merit: 1024

Quote from: DrG on June 10, 2014, 09:02:16 PM

A sign that intelligence is not required to have power or wealth.

The fact that Ghash.IO does nothing about it and scares the community shows how apathetic they are for the community's concern. May their servers suffer a thousand EMPs Grin

This exactly. I remember a couple months ago they said they'd "implement a feature to allow users to mine at different pools"

*crickets chirp*

DrG

legendary

Activity: 2086

Merit: 1035

A sign that intelligence is not required to have power or wealth.

The fact that Ghash.IO does nothing about it and scares the community shows how apathetic they are for the community's concern. May their servers suffer a thousand EMPs Grin

ManeBjorn

legendary

Activity: 1288

Merit: 1004

People are sucked in by ghash's 0% fee deal.
Too many of them do not think twice.
They also think the lower variance means ghash is better.
I totally agree people need to leave there and never go back.
The risk is too great.

LightningBlade

sr. member

Activity: 259

Merit: 250

Try www.coinking.io, seems to be paying more then mining BTC directly (only if you are mining with GPU).

SgtSpike

legendary

Activity: 1400

Merit: 1005

It's kind of like saving the environment or voting - no one wants to make a move when it disadvantages them and makes no noticeable difference in the end.

ChuckBuck

hero member

Activity: 1372

Merit: 783

better everyday ♥

It's been hovering 47-48% for the last 24 hours:

https://blockchain.info/pools?timespan=24hrs

Do we really trust GHash.IO/CEX.IO that much that they wouldn't just start double spending like crazy and causing all sorts of stability issues for the Bitcoin network?

Even if they weren't trying a 51% attack, why would any miner personally go on there knowing the risk to the network?

Must be a bunch of Noobs going to the biggest pool with the 0% fees, not knowing the consequences this can cause.

For chrissakes go to any of these other pools:

https://bitcointalksearch.org/topic/btc-mining-pools-list-104664

ANYTHING BUT GHASH.IO

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