Ghash.io Mining Pool Has Mined $250 Million in Bitcoin in One Year
Popular bitcoin mining pool operator has taken no shortage of criticism over the past few months, but they're still not shying away from showing off their mining power. The pool, which launched over a year ago now in 2013, has generated nearly $250 million USD with the combined power of all miners across the world connected to the pool. That's 413,752 bitcoins, if you were wondering. The information comes from an infographic released by the pool operator, which reveals other interesting statistics. (You can view the infographic by clicking here). The pool has consumed 159.5 million KW/H of....
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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....
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....
Since opening its doors on 3rd August of last year, major bitcoin mining pool operator GHash.io has generated nearly $250m in bitcoin, according to a new infographic released by the company. The pool has produced 413,752.01889456 BTC since it first began hashing in 2013, an amount worth $248,251,211.33 according to the CoinDesk USD Bitcoin Price Index. This fact was just one of the noteworthy statistics provided by the infographic, as the full release contains both hard mining data as well as a brief timeline of the company's history. The publication comes at a time when the company has....
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....
Many are uncomfortable with Ghash.io's large percentage of total network hashrate. 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....