The Terror of Mining Pool Centralization
One of the many issues that has a lot of Bitcoiners periodically soiling their pants in fear is that of mining pool centralization. Earlier this year was a crisis with GHash.io and in the year before was one with BTCGuild (which has announced it is going offline soon. How the mighty have fallen). Naturally, nothing came of these supposed crises other than all manner of exhibitionist hang-wringing, such as when Peter Todd told everyone he had sold half his bitcoins due to the threat. But what about the 51% attack? What about decentralization? Bullshit. The 51% attack is a risk that arises....
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BTC Guild won't be shutting down. Not too long after the NYDFS had published it Bitlicense proposal guidelines, Michael, the owner of BTC Guild, had stated that he would shut the pool down if the regulations went into effect as proposed. On 10/31/14, he announced that he would be shutting down BTC Guild. While at first the shutdown came as no surprise, the community response to it was. Within a few hours of the announcement, Michael changed the statement to reflect that BTC Guild was being sold instead of just being . One of the main drivers of this proposed closure was the myriad of....
BTC Pool Party Data Center Building In Progress. BTC Pool Party is a new Bitcoin mining pool that has gone into operation in the last few months. With so many mining pools and centralization driving several to close, a new pool is almost unheard of. When CCN contacted BTC Pool Party, an interesting person in the Bitcoin mining hardware business turned out to be a very big part of it. Juan Garavaglia, the CEO of 112bit.com, is the VP in charge at BTC Pool Party. He is the lead Bitmain authorized distributor for the US and Canada and sells to Bitcoin miners of all sizes with some very large....
Directpool.net officially launched a Bitcoin Mining Pool. Its goal is to prevent any future 51% attacks on the bitcoin network by redistributing the total network's hashing power. Directpool comes in as the next generation mining pool to further redistribute total network hashrate while giving back to the Bitcoin community. New York, NY (PRWEB) March 18, 2014. The Bitcoin community raised concerns about a pool reaching the 51% network hashpower. That pool can potentially control double-spend transactions, affect confirmations and prevent miners from mining valid blocks. Satoshi himself was....
Bitmain has announced the launch of its latest open source BTC.com bitcoin mining pool with new improvements and attractive pricing. Bitmain, the Bitcoin Mining ASICs manufacturer has launched a new open source mining pool. The new mining pool is part of BTC.com, the company’s Bitcoin block explorer, analytics tools and wallet services arm. According to the company’s blog post, Bitmain is offering a great deal to all the users joining its new mining pool. All miners on BTC.com mining pool will be able to mine the digital currency without having to pay any mining fee until next year.....
Binance users can now sign up to mine Ether as well as Bitcoin via the exchange’s mining pool. After launching its Bitcoin (BTC) mining pool in April, crypto exchange Binance has now launched an in-house mining pool for the market’s largest altcoin by market cap, Ether (ETH).For the first month, between Nov. 12 and Dec. 12, Binance is trying to attract miners by offering a zero-fee regime. After that, those contributing their hashin power to the pool will be charged a competitive 0.5% commission on their earnings.Binance’s instructions for setting up a mining pool account note that....