Message to Ghash.io Bitcoin Miners: Switch to another pool
Update: Ghash.io has responded as expected. Two Cornell researchers that have been trying to poke holes in Bitcoin’s network security, Ittay Eyal and Emin Gün Sirer, have taken this opportunity to remind the Bitcoin community of many other theoretical attacks that can occur with a centralized Bitcoin mining network. In fact, many of the theoretical attacks described would arguably be more likely than a blatant 51% attack. However, any attack, no matter how subtle, could be detected on the blockchain and the Bitcoin community will react in their best interests. Ghash.io is a Bitcoin mining....
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This is a press release by Ghash. IO and does not represent our views. Read our earlier post about the situation here: WARNING: GHASH. IO IS NEARING 51% - LEAVE THE POOL. Bitcoin mining pool GHash. IO is preventing accumulation of 51% of all hashing power. GHash. IO, the worlds largest and most powerful mining pool, has entered 2014 with overall hashing power of over 40%, making it the #1 pool currently in the Bitcoin network. The pool has gained significant hashing power due to the 0% pool fee, merged mining of alt coins, excellent real-time data presentation as well as quality 24/7/365....
newsBTC has received an official press release from the folks over at GHash. IO regarding the on-going threat of the mining pool getting 51% or more of total network hashing power mere hours following the publication of a story indicating the pool had reached 42% network hashing power. "The pool has gained significant hashing power due to the 0% pool fee, merged mining of alt coins, excellent real-time data presentation as well as quality 24/7/365 support service," the statement reads. Hashing power on GHash. IO is made up of 45% BitFury ASIC miners and 55% independent miners, according to....
Over the last couple of days, the Ghash.io mining pool has been stirring up conversation in the community again, with an uncomfortably high share of hashrate hitting very close to the feared 51 percent mark. Posts urging miners to switch to smaller pools litter social media, and Bitcoin Foundation Chief Scientist Gavin Andresen did the same on Friday in a post published on the Bitcoin Foundation blog. He writes: Bitcoin mining has been too centralized for years, with just a handful of pool operators have controlled well more than 50% of hashing power. Recently, mining power has become even....
The bitcoin community endured a scare earlier this week when mining pool GHash. IO's hashing market share reached a whopping 42%, leaving many wondering if the potential was there for the pool to carry out a 51% attack on the bitcoin network. Scores of users took to bitcoin-related boards and pleaded for miners in the GHash. IO pool to join another pool, in order to bring GHash. IO's market share down. It worked. As of Friday, data provided by Blockchain.info indicates GHash. IO is now at 28% hashing market share in the past twenty-four hours. Undoubtedly an immense improvement, but many....
Read the press release by Ghash.io here. This is a WARNING to all Bitcoin Miners. We sincerely request that miners using Ghash.io leave the pool for other smaller pools to create a more decentralized Bitcoin hash distribution. The Bitcoin pool Ghash.io has in the last 24 hours had more than 42% of the entire Bitcoin mining power making them the biggest Bitcoin mining pool in the world. If they receive more than 50% of the mining power they will be able to double spend their Bitcoins and possibly destroy the Bitcoin value (so called 51% attack). View the recent hash distribution pie chart....