Electrum users must upgrade to 3. Sign up to our bitcointalk newsletter to downloa. When the negative attention deepbit a certain threshold we can expect massive government attention and regulation. As a part bitcointalk the bitcoin community we condemn such actions, which harm the bitcoin network. That pool automatically chooses the most profitable scrypt scryptcc coin to minepays out daily in bitcoin. Deepbit Bitcoin Wiki 16 scryptcc. The mechanism was simple:
Discredit them so that they are forced to go away. How exactly does one do any of this? LottoCoin is a p2p crypto coin based on scrypt PoW, descendant of Litecoin which uses random block features. Bitcoin qt download windows Produsen bitcoin asic Litecoin is a proven medium of commerce complementary to BitcoinIn version 0 5 the client moved from the wxWidgets user interface toolkit to Qt, the whole bundle was referred to as Bitcoin QtBitcoin qt download for windows 10 MultiBit is the bitcoin wallet for your. They need to stop long before that.
If you would like to do more research into litecoin specifically, we have coina guide on how to get started. IO reported at the same time - Scryptcc team at CEX. IO wallet bitcointalk that time period. Full Deepbit Offline Activity: RoadTrain on November 11, Bitcoin Forum February 01,
It was a metaphor dude. So could the entire operation be a scam? As interesting as making a market for mining power is What is stopping them from 'pulling the plug' on the whole thing - taking everyone's BTC and mining power with them? Please correct me if I'm wrong Criticism requires specifics capable of stimulating understanding.
That's why I decided to be rude and honest. Bitcoin is a superior medium of exchange [ Also every possibility that it is a ponzi scheme? Is a great business for being a Ponzi. Pretend you have hashing power on Ghash. Get money up front, payout with the money coming in. And disappear at the point it starts going wrong. Only cost is a web site - and some way to convince Ghash. Both directors are Ukranian, and have same surname.
And personal address looks odd. In that from google streetview looks like a house but address looks like an accountants which is now allowed in the UK. Also birthdays look odd in that they are 4 months apart - so guess cousins?
Could not read name on company address - will walk past tomorrow! But looked like an accountant or similar. This is a mess. Something needs to be done. Voodah on December 15, , Btcguild has also had a higher luck than ghash. The "luck" calculation is based on the number of shares per solved block - not shares per block accepted by the network.
So we have what Satoshi and everyone else warned exactly as the thing that should not happen. The majority pool is dishonest. This whole experiment can go sour pretty pretty fast. I genuinely fear for everyone who's throwing their coins into this outfit, thinking their going to make a profit.
Up to x Leverage. Fabrizio89 on December 20, , Now everything has turned into a gamble either its stock market, forex market, futures market or bitcoins. I am really tired of short term investors.
Do I understand it correctly that if those Dice services waited for even 1 confirmation, this attack wouldn't happen? I have been hearing speculation that the reason Satoshi is no longer involved is because of all the criminals and nut cases who have tried to attach themselves to Bitcoin. That is the most plausible explanation I have heard. If anyone is still not convinced that mining centralization is a threat, this is a taste of the bad things that can happen.
December 21, , I think if we break it all down. People are worried that this pool is dishonest because of the double spend "attack" which I agree is not good. However, in perspective I do mine at Ghash. I know that I have personally cashed out a ton of BTC with no difficulty. However on those solved blocks not paying out As for support they appear to have an very adequate staff because each and every ticket I have opened has been resolved within an hours time.
There is also confusion in this thread about how CEX. They do not sell the hashing power that is pointed to the pool. With that regard the pool operates just like any other. The hashing power they sell is This is how they make money and cover costs. While I obviously don't have access to their financials I am sure they are making pretty good money All in all I really think that they are probably a profitable enterprise.
The best solution overall to large pools and the fears of things becoming centralized is though competition.
I have used several pools throughout my mining history as I am sure many people have. I have come to point most of my gear at Ghash. The ability to easily get hashing power is also contributing to the growth of this pool. As others said above new miners looking to get into the game can get started with fairly low barriers to entry.
This directly leads to pool growth because many of those new miners are also buying equipment. It would be a logical assumption that any of these new miners with physical equipment will eventually point their gear to Ghash. They currently have what I would consider a major competitive advantage over other pools.
There are two ways to temper this growth: Through competition for miners or 2. Discredit them so that they are forced to go away. I wonder if that is the reason for this thread? To slander them out of existance. All in all when reading the original post and subsequent replies I can't help but get the feeling that the initial post by the OP is more of a "witch hunt" than anything else and all the posts I see about scams and dishonest pools etc are really starting to scare me as a proponent of BitCoin.
There was another thread about what people think is the biggest threat to Bit Coin. When I read that post I did not have an answer but now only a few hours later I do. I think the Bit Coin community is the biggest threat to Bit Coin. While I am not oblivious to the fact that there are scams occurring I think the vast majority of the claims are unwarranted.
The more we cry foul as a bit coin community with conjecture and un-substantiated claims the less reliable and attractive the Bit Coin network becomes to the world. The more we cry scam and foul play the more attention we garner from Governments, Law Enforcement, and Media looking for a scandal.
When the negative attention reaches a certain threshold we can expect massive government attention and regulation.
My advice is that we temper our claims of foul play across the board and keep unsubstantiated claims out of the discussions. Be vigilant to look into possible abuse but do so in such a manner that we don't permanatly mar the reputation of Bit Coin. If we want total Bit Coin adoption we can not be slinging mud in the streets as conventional banking institutions look down from their skyward offices as they laugh all the way to the bank knowing that we are going to implode without any additional effort on their part.
What I'm wondering with these miners with really big market shares is how long they'll be able get away with being regulated like a node in a p2p network. This could be end up being another of the many cases where governments seem to be shutting down any business that is excessively centralized and fails to follow strict crypto-anarchist principles. This is a flaw of a decentralized currency powered by democracy. The following is a nice video on explaining the implications of this effect: Essentially only two pools will be left.
Same with the two-party system in America. Ancient Money for a New World. Slack Chat Gitter Chat. Piper67 on December 27, , Place your bets at block January 09, , Ok now we reached that point, there is a potential risk and something has to be done now, today I was checking again to just see this https: Would be good to have a graph over time.
Last week I wrote: IO keep increasing their share of the network, most likely due to CEX. I'm not sure how I feel about this - it's an increase in the proportion controlled by a single entity, but in effect any pool has the same control of hashes. It should make no difference that as far as I'm aware CEX. IO maintains the hash sources locally rather than the sources being distributed. Is there a downside I'm not understanding? From eleuthria, BTCGuild pool op: If they attempt something, there is basically no downside.
If the public hashrate leaves due to an attempt, they aren't actually losing anything no fee other than the mining time on their private farm.
I've never been too fond of the argument: But that argument doesn't even exist for GHash. Worse, there is a moral hazard because an unknown portion of the hardware is paid for by other people at top dollar rates too and so if some stunt they perform debases its value Heck, perhaps it drops the market value down to nothing an cex can buy their obligations back for a song. This means that CEX.
I feel a little foolish for not having taken market forces into account. If someone were to create a similar service to cex. Miners would then leave cex. It's like they are able to grow because their customers are eager to lose money for the privilege of "cloud mining.
Run Bitcoin Unlimited www. And Still growing , pool speed up from 4. Peter R on January 09, , Hopefully we can all sort this, I've put up my current mining share on there for sale since I'm not heavily invested in it, more of a get to know how it works deal. Anyone care to make a p2pool tutorial video for each version?
Situation is getting too risky. I can't trust bitcoin when a single entity control almost half of hashing power. No one should trust it. The possibility of this happening was known since the very beginning so why are you all freaking out now when it's too late?
No central bank you say? The entity with the most computing power is the central bank. Will be interesting what happens now. This will be affecting adoption rates massively. If I were thinking of buying in and I were doing my due diligence, this would certainly put me off. Balthazar on January 09, , Come-from-Beyond on January 09, , RangerK on January 09, , Maybe you can help me. I don't get why selfish mining is a problem.
To me it seems like a miner is getting a head start on the next block at the risk of losing the current block. If this is unethical and I'm not sure it is , it is only unethical toward other miners. It doesn't disturb the functionality of Bitcoin from a user's perspective. What a selfish, and stupid, person. Jcw on January 09, , Yes, man owning the world biggest mining pool is stupid?!? Gabi on January 09, , Bitcoin exists exactly because we cannot trust no one. That's why it exists and why it was made how it is made.
We must suppose that any vulnerability will be exploited eventually. People can be corrupted. I firmly believe a money making venture will not shoot themselves in the face by destroying the network marketplace in which they are profiting and succeeding.
There is no gain in destroying bitcoin now, unless they have some "counter agenda" that is as hilarious as hollywood or obamacare. They are not a government, entertainment producer nor 'BigPharma. Unfortunately this is an issue that has been brought on partially by ASIC mining, as less actual devices mining with alot more hashing power means less diversity.
Well, a promise is a promise guys. We can breath easily now. Bitcoin would then be in good hands. Not exactly decentralized but in good hands. Promises are good forever. This still isn't very good for what's supposed to be a trust-free decentralised payment network. Dalkore on January 09, , There is much that can be done. I am researching this now. As a precaution, I have informed all our hosting clients that requested Ghash.
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