GHash Mining Pool Generates $250 Million in Bitcoin in One ...

REMINDER: GHash/CEX.io Cloud mining is STILL suspended due to the BTC price (at an all time high) being too low. /r/Bitcoin

REMINDER: GHash/CEX.io Cloud mining is STILL suspended due to the BTC price (at an all time high) being too low. /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

I HATE CEX.IO a.k.a GHASH.IO they want me to give up my privacy! Should I DO IT FOR My left over Bitcoin AND currently mining cloud power?

First let me say this I'm all about privacy and remaining anonymous on the Internet. Not because I'm a criminal or terrorist, but because I enjoy privacy and the ability of Bitcoin of allowing me some anonmity.
Anyways So I purchased a new phone to replace my P.O.S HTC phone. I was going to get an IPHONE but I read most of the posts about IPhone and Bitcoin so I decided to stick to Bitcoin. Anyways I install Google Authenicator on my new phone. Then wam I can't log into my CEX.IO account with my Google Authenicator anymore. So I contact support and let them know what occurred. They want me to verify some information that only I would know and PROVIDE A PICTURE OF MYSELF holding a government ID. Never mind all the screenshots of my bitcoin wallet proving my deposit address and transaction in bitcoin-qt wallet. Nevermind me giving them speicific information only I as the account holder would know. These dicks want me to give a picture of me holding a government ID. I could give them a random picture of anyone and they wouldn't know.
So here' s my dilemma, do I not provide a picture and allow:
Or give them a picture of myself holding my government ID allowing them and whomever they share this information with to:
Not to mention they are not a U.S. Company.
WHAT WOULD YOU GUYS DO?
submitted by mikjones_hatesCEX to Bitcoin [link] [comments]

How many of you mine at ghash.io?

Is there any particular reason why you don't leave it?
submitted by usrn to BitcoinMining [link] [comments]

Why is Peter Todd wrecking Zeroconf security? Because he is being paid by Big Bitcoin Business.

At the Amsterdam Bitcoin Conference I spent time following Peter and his little circle of friends and business partners. I'm new to Bitcoin so it took me until now to put two and two together and understand what was really going on, but hear me out. Peter spent a lot of time talking to Lawrence Nahum who is the guy behind GreenAddress. On the first or second day they went out to dinner after the days talks were done and went out to a nice little open-air restaurant with a bunch of people from Mastercoin. I sat at a table behind them and could hear their discussions, which including GreenAdddress's transaction confirmation guarantees, and also, an agreement for Peter to do consulting work for GreenAddress. What really stood out to me was the offer to help "shape the Bitcoin ecosystem" in ways beneficial to them. Later in the conference I also overheard a similar deal between Peter and someone, I didn't catch their name, in Coinbase branded apparel. And of course as everyone knows CoinKite hired Peter to be their "Chief Naysayer" during that conference too.
What's in common with all these companies? They're all in the dangerous business of holding other peoples' Bitcoins and GreenAddress and Coinbase both offer for-profit and centralized solutions to guarantee unconfirmed transactions. I'm sure CoinKite will be doing that soon too.
It's obvious why Peter is spending all that time and energy spreading FUD about how insecure unconfirmed transactions are. GreenAddress has been spreading their own FUD. Peter has even been trying to bribe miners to switch to his so called "replace-by-fee", which is really just an attack on secure zeroconf transactions, saying some un-named "site" paid him too. Who might that be? GreenAddress, Coinbase, CoinKite? It's not hard to figure out.
Peter sure seems quite happy to attack and hold back Bitcoin whenever it suits him for the sake of his Big Bitcoin Business contracts. It's not just unconfirmed transactions either. He's been shilling for AppCoins which dump garbage into the blockchain for the sake of pump-and-dump schemes like Mastercoin and Counterparty. (quite the about face from his supposed anti-blockchain bloat positions before) Or look at his weirdly passionate opposition to a simple feature, getutxos, that's needed for Mike Hearn's decentralized fundraising platform Lighthouse. Where's that passion coming from? The heart? Or his salary from Mastercoin, Counterparty and Colored Coins? I'm sure Mastercoin wants the next Maidsafe to happen on their platform, run by and for the benefit of Mastercoin, not Hearn's truly decentralized alternative.
I agree with Peter that GHash.IO is a possible threat to Bitcoin, but what solution does he have? Getting rid of pools. His buddies at the totally discredited Hacking Distributed (remember selfish mining? yeah those guys) run with this FUD, trying to scare the Bitcoin community into making changes to get rid of pools. Sounds like a good idea right? But then I looked further into it and found out he had just been hanging out at CloudHashing. What does banning pools do to the little guy mining decentralized? It puts them out of business because they'll never find a block that's what. Just perfect for CloudHashing's "send us money and we'll run the miners" business model and also GHash.IO's.
Peter likes to talk the big talk about decentralization, but all I am seeing here is paid shilling for the benefit of Big Bitcoin Business.
submitted by alicebtcmayes to Bitcoin [link] [comments]

Congratulations r/Bitcoin! You have created a decentralised discussion! (P.S. Ghash.io is EVIL)

We get it. Ghash.io's hashrate is high. If your post can't fit into one of these threads about ghash.io, it's probably not adding anything substantial to the conversation.
EDIT: Decided that instead of whinging, I will try to help the community access the information that is most relevant to them. Before posting a new thread, check if one of these may be relevant.
EDIT 2: Now that Ghash.IO has made an official press release claiming that they will not act maliciously, I am going to get some well deserved shuteye. I am sure the saga will continue on without me.
Press Release from Ghash.IO
Bitcoin mining pool GHash.IO is preventing accumulation of 51% of all hashing power
Current Network Hashrate
Hashrate Distribution
Warning about Ghash.IO and Cex.IO
GHash.IO At 42% Of Mined Blocks Over Past 24 Hours.
LEAVE GHASH.IO if you mine there!
WARNING: GHASH.IO IS NEARING 51% – LEAVE THE POOL
Bitcoin Miners, Step Away From GHash.IO !
GHASH.IO RISKING WHOLE BITCOIN NETWORK KNOWN ATTEMPTED DOUBLE SPEND BY THEM
ghash.io is becoming SHOCKINGLY AGGRESSIVE NOW, closing in 45%
LEAVE GHASH.IO
WARNING: GHASH.IO IS NEARING 51% – LEAVE THE POOL (with image)
Miners Boycot Ghash.io as the Pool approaches 51% of network hashrate
If the situation with GHash.IO has shown us anything, it is that it's time we move to a p2pool.
FOR THE LOVE OF GOD CHANGE THE FUCKING POOL IF YOURE ON GHASH.IO
Stop buying cloud mining at cex.io
If a large portion of mining pools are 'unknown', does this mean GHASH.IO could potentially already be over 50%?
Bitcoin Miners Ditch Ghash.io Pool Over Fears of 51% Attack
CEX.io staff threatening customers now for talking about the approaching 51% mining share...
GHASH.IO IS THE ANTICHRIST!
"How do we fix this?/Why is this bad?"
Instead of having to boycott GHash.IO, maybe fix Bitcoin?
Discussion: Mining Pools and their future
We need a mining pool with a good looking website like GHASH.IO and its affiliates
Reason why miners like me won't leave GHASH.IO or won't stop purchasing cloud based mining power through CEX.IO
I think part of the problem is that some miners don't know how to switch pools. Could some of you veterans please direct folks to the necessary guides?
Can't just restrict max number of continuous blocks from a pool / miner to one (context; big mining pools nearing 51% hash rate)
Possible GHASH.IO solution (one for the devs)
Why not issue alerts for things that threaten Bitcoin's health such as GHASH?
Explanation of Double-Spending (51% Attack) regarding nearing 51% of GHash.IO
Question: what are downsides if Ghash.IO hit 51% but choose not to doublespend?
The whole Gash.io Debacle
Looking for alternative cex.io or ... ?
The network health of Bitcoin is awful. The 2 largest pools comprise 60% of the network. All you need to do to take over the network is coerce 2 people. Please switch to P2Pools.
We love Satoshi, Satoshi was a genius, but Satoshi's mining approach just isn't working out in practice and needs to be changed.
A screen saver like the old SETI one, that only mined with P2P pool possible?
Pool Voting: Encrypting Bitcoin Transactions To Be Processed By Specific Pools
Vitalik's thoughts on the Ghash.io issue
Problem with pooled mining in general
don't want bitcoin to get 51%? support this !!
Why is a pool owning +51% of the mining network not so bad?
Could a malicious entity with a lot of hashpower (say 10% of the total network) intentionally hurt other pools?
ELI5
ELI5: Why is so bad GHASH.IO has a 51%+ marketshare?
Can someone ELI5 this whole GHASH.io 51% thing?
ELI5: Double spending
Community Reaction
Bitcoin as of late
I can't quite tell if people here think ghash.io is a problem...
Seemingly some people are upset about GHash.IO's recent increase in hashrate share...
Incase you missed it...
Is this really necessary? It is almost as melodramatic as that suicide hotline post...
Reddit idiots panicking over nothing again. Cex.io has a great business model.
GUYS QUICK! POST THAT PEOPLE SHOULD STOP USING GHASH.IO!
People have figured it out, stop posting about leaving Ghash
Clearly GHASH.IO is simply an exceptional pool that is naturally rising to the top. Why do you captains of industry want to hold them back with regulations?
Stop with the GHash.IO nonsense!
Why is no-one talking about the problems with GHASH.IO?
LEAVE GHASH.IO NOW!
Just got 8 Avalons, is Ghash.io the best pool to join?
Memes
Insanity wolf would like to have a word with you all
51%!
My dad's thoughts after I explained Ghash
Speculation
BTC Gigahash 51%, of to PeerCoin/POS+POW :)
The price of bitcoin didn't fall even a bit and maintained its average day price even through the ghash.io scare. Reasons?
Investor here. Does the Ghash.io thing have anything to do with the Yahoo malware?
The lack of privacy/anonymity, & the lack of incorporation of the P2P mining in BTC, is for the first time making me feel as though a successor is, or should be, near.
Threats against ghash.io
Let's Just DDOS the bastards and end this all ready.
I am going full fiat and you should too. We need a crash in price: it's the only signal miners can't ignore.
submitted by gabblox to Bitcoin [link] [comments]

Stop buying cloud mining at cex.io

Cex.io the company behind Ghash.io offers cloud mining.
Do not buy this. You will end up mining in the Ghash pool which is nearing 51% hash rate of the total network.
Which, in simple language, gives certain people the ability to perform a mass fraud (double spending) in bitcoin.
submitted by Chilltyperiod to Bitcoin [link] [comments]

Why I went from Bits to Butts

About a year and a half ago I learned about Bitcoin just prior to The Great Run Up of April 2013. I was immediately captivated by the idea of making an insane ROI of +500% and let greed cloud my perception from the start. To be fair though, I diligently studied Bitcoin: how it worked from mining to transactions, the economic implications, and the freedom it offered from banks. After a few months of research I was sold. I began to pour the little money that I had saved into it, convinced that in a few months time, my investment of $3,000 would soon hit $10,000+. I was right for all the wrong reasons.
From the beginning, I thought I had stumbled upon the financial equivalent of the Internet in its infancy. This was going to be the greatest decision of my life. Bitcoin offered a system that allowed people to be their own individual bank while making money in the process. I was also convinced that the US Central Bank was devaluing the dollar through inflation and it was my duty to protect myself and my future. In reality, Bitcoin offers no advantages over the traditional banking system, which I will detail below:
Ever since the last run up in price during the month of December, I have become disillusioned by Bitcoin and the incessant promotion over in /Bitcoin. None of the above mentioned flaws are actually good for Bitcoin. Nor is Bitcoin a safe investment if you are looking to store your money. If you want Bitcoin to be a currency it has to be relatively stable during periods of high volume; which is the exact opposite of how it acts. I sold my initial position in Bitcoin and now am sitting on a decent amount because I know that the pyramid scheme will continue for the near future and will look to cash out during the next run up.
To be honest though, I think the technology is quite amazing (especially how it has overcome the double-spend problem) and would not be surprised if future financial instruments or other technologies are based off of the original concept. I do however think that Bitcoin is a pyramid scheme and I am grateful that I have come to this conclusion before it's too late.
submitted by JesusDied to Buttcoin [link] [comments]

Fire the miners: why central planning does not work

It is well understood that the entire ecosystem has roughly built itself into a $15b ecosystem via the security and reward structure which Satoshi built to power bitcoin's supply and issuance. Trustlessness is built into the monetary policy of the currency. We don't need to ask the miners to do anything, because the structure of the code incentivizes them to mine and secure transact as part of the bitcoin economy.
Are there edge cases? Absolutely. Throughout bitcoin's history, discussion has always been present at various academic levels around the possibilities where miners may abuse the system. There have been subsequent discussions on backup security procedures if the security system of the network is compromised. An easy and simple method is a POW fork. Miner(s) behaving maliciously? No prob, fork off, the economic majority will continue mining the main chain and they're kicked off.
But recently, people has put forth the idea of "firing" the miners. Not that any malicious acts have occurred, but that the simple lack of miner support for a core developer proposal is odious. That this lack of action is equivalent to an act upon bitcoin.
But we know that's not true. Why would miners blow up the thing they use to make money off of? The block reward (not fees) comprise 95% of miner revenue. Fees are a few sprinkles on top of a block reward cake. They have more monetary incentive than anyone to ensure that bitcoin value grows, and that it grows in-line with the block halvings to ensure that their business is protected, remaining profitable.
Notice that none of these miners are securing the blockchain because a few of us are old high school buds and they're doing us a favor, or because they so idealistically believe in this vision of bitcoin, we're not begging the miners to do anything.
Bitcoin works because incentives are aligned. The code has created a productive asset that serves as an effective currency as it grows. The miners are doing all of this because mining and maintaining these assets earns them money; it's how they make a living. Not surprisjng then that we've never even seem close to a hint of an at a miner attack on the bitcoin network. A 51% attack is often discussed, but we've never seen one. In fact, there was a period of time when Ghash.io did have over 51% of the hash rate. Guess what happened? They took no malicious act, and in the long term, cloud miners left the pool to revert to an equilibrium where miners can't even attack that vector. But the point is, the entire market is incentived to cooperate. That's how the bitcoin economy works and precisely why it is so successful.
So we can't fire the miners even if we wanted to. They are actually operating as businesses and have explicit performance needs met to manage a p&l. This isn't a fun development playground for coders. Miners aren't taking an ideological stance here in some bitcoin holy war, they are just making sure the bitcoin network continues to operate. They rejecting code that does not work. Forking away does not solve the fundamental scaling problem, because it does not resolve the issue for the miners.
Begging or threatening the miners will only do harm. Central planning by government bureaucrats is never productive relative to a free market. Forcing the means of production to take some action, or to produce in a certain way (below 1mb blocks) is inefficient. The only solution is to actually work with the miners to determine how to best secure the blockchain for the cheapest price, because again, we all have the same incentives.
Tl:Dr talk of firing miners is all hot air. Also miners are friends not food
submitted by jeanduluoz to btc [link] [comments]

[Beware] Potiential Dogecoin Cloudmining -> BTC's Cex.io 51% Attack Scam [x-post from /r/Dogecoinscamwatch]

gekko463 - while his initial approach has been less than friendly, has brought something to our attention that we should all watch and be aware of.
He shared the following link: http://www.reddit.com/dogemarket/comments/1uqe2f/sd_46_million_coins_available_dogecoins_0251k/
And specifically this part raised several red flags for me:
"In return for this great value price, I ask that you also start Cloud Mining bitcoins. Please see this post: http://redd.it/1un7qn[1] - My $1600 investment in Cloud Mining is worth $1750 just 48 hours after starting.
PM me if you would be interested in this price and deal."
This 'deal' links you to Cex.io who appear to be currently, aggressively attempting a 51% attack on Bitcoin.
Please be aware of threads and 'deals' of this nature as you may - inadvertently - be helping with a very damaging attack not only on BTC but on the confidence of all cryptocurrencies.
We're watching this situation closely and will update as more information becomes available.
Thank you all!
GoodShibe
[a mod over at /Dogecoinscamwatch]
UPDATE
prospect1212 has shared this statement from ghash.io
https://ghash.io/ghashio_press_release.pdf
submitted by GoodShibe to dogecoin [link] [comments]

Beginner's Guide to Exchanges - Part 2

Beginner’s Guide to Exchanges – Part 2

A little late, but as promised here is Part 2 of the Beginner’s Guide to Exchanges. I would like to sincerely thank everyone for their support and feedback in making these.
Link to Part 1
This time I also made a Google Docs survey in the hopes of sharing the results with the community. I thought we could share what we use as a whole and why redditors choose the exchanges they do. For skeptics (as you all should be), I assure you that I am not collecting personal information. This is for recreation and if you are still wary, then by all means abstain!
Link to Survey
In Part 3 I will be wrapping up this series by covering decentralized, semi-decentralized, and derivative exchanges. Here it goes!

00 – Concepts and Definitions (Continued)

04 – Fiat Exchanges – Canada

QuadrigaCX

Country Linked Bank Transfer Wire Transfer Paypal Credit/Debit Crypto Transfer
CAD Deposit 1%/ Withdraw Free Free Free (Withdraw Only) 1% (Withdraw Only) Free
USD - Free Free (Withdraw Only) - Free
Exchange Type Maker Taker
Fiat .5% .5%
BTC/ETH .2% .2%
Feature Details
2FA Google Authenticator or Email 2FA Available
Wallet Security Undisclosed amount of funds in cold storage
Web Security 3rd Party Security provided by CloudFlare
Bug Bounty Expired $50 bounties
Tier Level Name Email DOB Phone Address Official ID Bank Info Credit Score Limits
Basic Account X X Digital only, Limits Vary
Verified Account X X X X X X Limits Vary

05 – Fiat Exchanges – Europe

CEX.IO

Country Credit/Debit Bank Transfer Crypto Transfer
Europe 3.5%+ €0.24 Deposit €0 / Withdraw €25 (SEPA €10) Free
Russia 5% + ₽ 15.57 - -
UK 3.5%+ £0.20 Deposit £0 / Withdraw £20 (SEPA Free
US 3.5%+ $0.25 Deposit $0 / Withdraw $50 Deposit $0 / Withdraw 1%
Exchange Type Maker Taker
All Currencies 0% .20%
Feature Details
2FA Google Authenticator Available
Wallet Security Undisclosed amount of funds in cold storage
Credit Card Data Overseen by 3rd Party Kyte Consultants
Web Security SSL Certificates and Encrypted Personal Data
Tier Level Name Email DOB Phone Address ID + Photo Bank Info KYC Limits
Basic Account X X X Digital only
Verified Account X X X X X X $10,000 Daily/$100,000 Monthly

BTC-E / XBTC-E

Country Credit/Debit Bank Transfer Paypal
Europe - SEPA - Deposit .5% / Withdraw 1% (€100 min) -
Russia 6% 6% -
US 7% Deposit .5% ($20 min) / Withdraw 1% ($100 min) 7%
Exchange Type Maker Taker
All Currencies .20% .20%
Feature Details
2FA Google Authenticator Available
Password Expiration Must be changed every 6 months
DDoS Protection 3rd Party Security Services provided by CloudFlare
Bug Bounty Yes at xBTCe
Tier Level Name Email DOB Phone Address Official ID Bank Info KYC Limits
Verified User X X X X X No Stated Limits

Liqui.io

Exchange Type Maker Taker
All Digital Currencies 0.1% .25%
Feature Details
2FA Google Authenticator Available
Bug Bounty Reported bounty posted on HackerOne (unconfirmed)

06 – Fiat Exchanges – South Korea

안녕하세요 여러분! 혹시 우리 한국인 친구 이 보고서를 한국어로 읽고 싶어한다면 알려주세요. 관심이 많이 있다면 간단한 한국어 보고서도 만들 수 있습니다. This year, ETH has taken off like a rocket in the Land of the Morning Calm. With a population of just 50 million, South Koreans account for almost 30% of daily ETH trade volume. Even more surprising is that currently the daily volume of ETH is about 5 times higher than that of Bitcoin on Korean exchanges. Since demand is high, ETH is trading at a premium on Korean exchanges. Some users have been talking about capitalizing off this imbalance by trading on arbitrage between exchanges. For those who have no connection to Korea and hope to do so, I have bad news – all Korean exchanges require a National ID number and access to a Korean bank account. This makes Korean exchanges virtually closed to Korean nationals and those with long-term visas. Sorry everyone.

Bithumb

Coinone

Korbit

07 – Fiat Exchanges – China

With a great deal of anticipation, major Chinese exchanges started trading ETH this summer. Since these exchanges deal huge volumes of Bitcoin already, naturally it was expected that they invest heavily into ETH as well. So far this hasn’t quite lived up to the hype with many exchanges still favoring Bitcoin, Litecoin, Altcoins, and even Ethereum Classic (Gulp). Three of these exchanges underwent inspections by the Peoples Bank of China earlier this year and will be working closely with the government to ease fears of money laundering and market manipulation. There are a lot of Chinese sites, and since my Chinese is non-existent this list is basically just for name recognition. In many ways these sites are very similar in regards to security, verification, and fees compared to their western counterparts; just marketed at a different audience and currency. If users are seriously interested in these exchanges and making reviews, please contribute or ask!

OK Coin

Huobi

CH-BTC

Yunbi

08 – Coinswaps & Cryto-converters

ShapeShift

Changelly

submitted by poop_dragon to ethtrader [link] [comments]

So, what is the best alternative to Ghash.io right now?

Have to admit I'm a little clueless on these things, but it seems like there is an opppurtunity to almost 'invest' my current BTC in a way that can not just help generate more BTC, but also help the Bitcoin protocol as a whole.
I understand that for personal gain, GHash.io is the way to go right now, but with all of the problems they're causing by controlling the market I'd like to avoid them if possible.
I've heard a lot of people mention you can achieve something similar with P2P pools, is there any particular client or site that you guys would recommend? For what it's worth I don't want to mine on my own PC becuase it's not particularly fast, nor do I have any of the ASIC miners.
tl;dr I'm interested in investing my BTC into 'Cloud mining' but would like to avoid GHash
Thanks
submitted by blizeH to Bitcoin [link] [comments]

Best non-Ghash.io "cloud mining" options?

With all the Ghash.io talk I'd like to throw some money at a "set it and forget it" mining provider..... while preferably not losing money in the process. Because apparently the consensus is that mining isn't profitable and cloud mining is even worse.
Anyone doing the Vault of Satoshi beta? Is it still open? I'd like to throw a bitcoin or so at mining but if they take mastercard perhaps a bit more.
That being said I do have extremely cheap power but I'd want a truly turnkey solution that's reliable and I don't have to "babysit" too much.
Edit: I'm in the US, I don't care where they are as long as they take US customers.
Edit 2: This seems to have raised more questions than answers. I might look into a mining rig..... maybe a used one to start with.
submitted by Bipolarruledout to Bitcoin [link] [comments]

Black Arrow announces delay for Prospero X-1, X-3 and Minion cloud mining orders

Unfortunate news, though props to them for being transparent about the delivery delay:
"We have to inform you that our schedule to manufacture and assemble the system has been disrupted and we are unable to make delivery of the Batch 1 Minion ASIC chip on the initial scheduled date (end of February). We are now expecting to dispatch all Batch 1 orders on 1st of May 2014.
Please be re-assured we are confident that we have tried our best to accomplish our initial ambitious targets. However, we came to the conclusion that it is in the best interest of our customers to delay shipping in order to ensure that the product provides the best-possible user experience.
Without this delay we would have achieved 1.5W/Ghash which would have meant that our chip would not have been competitive at all.
We have now finalized the design process using our newly improved code and will start manufacturing the chip (tape out) in the next few days.
We are happy to announce that Black Arrow Software’s products remain on target for being the best in their class for power consumption. We confirm that our latest improved design has the following technical specifications:
·0.75w/Ghash on TT corner @ 25C which is expected to run at 120Ghash/sec.
·SS corner will be 0.6w/ghash and will run at 100Ghash.
·A further underclocking and underpower should be possible and should yield 80Ghash @ 0.5W/ghash. However, please note that this is not guaranteed to work stable.
Please note, that a further push for improvement in the optimization process would have guaranteed further delays for at least 1-2 months.
It is no secret to us that the Bitcoin mining process is proving to be more and more difficult every day. To compensate our loyal customer for the unforeseen delay of in delivering our miners for batch 1, we are happy to offer free extra hashing power which consists of 25% of your purchased hashing power from our Rent-Some-Minions cloud program for 4 months.
The account for the tape-out has been settled in full and we are confident that the delivery will be completed shortly.
We are taking all the necessary measures and positive actions to expedite delivery to you as soon possible and we are confident that we have the resources to be successful.
Please note:
·We estimate that the delivery for the Batch1 will coincide with the delivery of the Batch2
·The delivery of Batch2 remains unchanged
·The one-off offer presented above is open to the customers who placed orders for Batch1
Sincerely,
The Black Arrow Software Team"
EDIT: I received an e-mail message on 01/31 seemingly agreeing to provide me with a refund if I wanted one, less a $50USD service charge. They also asked me to consider waiting a few more days while BA explores alternatives to the 25% bonus compensation they previously offered. I assume nearly everyone who has complained recently received a similar message.
submitted by rounderjd to BitcoinMining [link] [comments]

Why cloud mining via cex.IO to another pool is even less safe than to GHash.IO

So today Ghash.IO put out a press release stating that they would allow purchases of CEX.IO cloud mining to point the hashing power at other pools of their choice. Some may think this makes cloud mining ok and no longer a risk since it more evenly distributes the hashing power, but it actually poses a larger risk. It misleads people into a false sense of security, and may actually allow for Ghash.IO to perform a 51% attack in a much sneakier way than simply creeping up over time by eliminating fear.
What people don't realize is that CEX.IO still has physical access to these miners. At any point if they wanted to perform a 51% attack, they could choose to point these miners back to to GHash.IO If they felt like it. At least when people chose to mine on GHash.IO we knew how much hashing power they had, and reacted accordingly. When you have a significant amount of miners pointed to different sources that can be moved at any time, it creates an illusion that there is no risk.
Let's say GHash.IO has 35% of mining power, and an additional 20% of the total hashing power(all of bitcoin network) distributed across other mining pools such as Slush, Bitminter, Eligius, BTCGuild, etc. People may think that 35% is reasonably safe, but what they don't realize is how rapidly it can change. If they suddenly shifted all of these cloud miners to their own pool, they would gain control.
The only thing this protects against is someone hacking GHash.IO and temporarily gaining control. The owner of Cex.IO and GHash.IO still would have control of both GHash.IO, and all of the cloud miners.
Please don't buy mining contracts from CEX.IO. I know that there was a post about this earlier today, but I feel like this post explains why cloud mining is not made safer simply by pointing them to a different pool, which uses new information just released.
submitted by skilliard4 to Bitcoin [link] [comments]

Ethercloud.info - World's first EHT cloud mining service coming soon! [crowdfund phase]

Hello Ethereum community!
We are a European startup company named Ethercloud. Our business branche should speak for itself ;) Since we believe firmly in the future of Ethereum, our concept and vision is becoming reality.
Our goal is to setup a huge mining farm, and become the Hashnest/Ghash of Ethereum. Of course, only dreams and visions wont fulfill the idea of running the largest cloud mining farm.
Currently, we are in the crowdfunding stage of our cloud mining farm. Until now, we managed to setup a 2.3Gh/s mining rig. Using crowdfunding, we want to keep expanding this farm by adding hardware on a weekly base. All purchases will be posted publicly, so we will be transparent with the investors of this crowdfunding campaing.
Once in production, we can offer on demand hosting for as cheap as 0.044$/Mh on our Enterprise package! Regular base price at this time is 0.05$/Mh
Let's talk about reality and numbers;
We have free space and electricity inside a pharmaceutical facility. Maybe we need to start paying a share for electricity consumption in the (near) future as our hardware supply keeps growing. But until now, it's all for free (relatives running the facility)
Our only cost to expand is the mining hardware itself. This also allowes us to offer cloud mining at competitive priceranges.
We are working on open source mining proxy to divide the hashrates to specific pools. Users will also be ablo to mine other coins running the Ethereum algo.
Realistic time for opening for the general public is +/- October 2015. We need at least 5Gh hashrate to fulfill the demand.
Crowdfunding payments are processed by coinpayments. Paypal and Bitcoin are accepted, we are working to implent Ethereum acceptance
Please show us your support for our project and visit http://www.ethercloud.info/ Our official Twitter account is https://twitter.com/Ethercloudinfo
Kind regards,
Bjorn
submitted by Ethercloud to ethereum [link] [comments]

Don't give up hope if BFL has your BTC

I purchased some cloud mining from BFL on December 10th for ~11$/GHash. This was one of the worst bitcoin purchases I have ever made.
I saw and heard nothing from BFL for months. After repeated emails to customer service I learned that I could qualify for a refund after 6 months had passed. Last month I applied for said refund and was told it could take 30-45 days. Another delay... Great.
Today I contacted BFL support again and was reassured that my refund was being processed through Bitpay. Not believing that the process had finally come to an end I contacted Bitpay support to see if this was true. And, it is. I am actually going to see my money again.
The moral of the story for me is obviously never buy from BFL. But if you have, continue pestering them until they actually return your money. Throughout my dealings with them they never outright lied to me, however it is suspect that the refund process only progressed each time I inquired about it.
TL;DR: If BFL owes you money keep the pressure on to get a refund.
submitted by gynoplasty to Bitcoin [link] [comments]

I am a new miner, lots of ?? GHash.IO seems real good. P2P? Random ramblings. Plz help.

Hi guys,
I am a "hobby miner" meaning I don't stare at prices or attempt to dissect line graphs and pie charts to max a profit from BTC/alt coins..
I have a 230 gh/s rig and just want to get 1 bitcoin (first goal :D) Anyways I have some questions and appreciate anyone who could take some time and answer them.
1) I am currently mining at ghash.io. I started with 238 gh/s at slushpool, then I switched it all to GHash.io for testing. It seems I make more BTC from GHash.io than slushpool. In addition, they award me another coin type for free basically (NMC which is wonderful) that i can exchange for BTC. Now I read about the 51% thing, but it seems the BTC return + all the perks at ghash.io make me not want to switch. Is there any other place that has all these perks that return BTC like ghash? I love ghashes website too so i would like to switch to a pool that has a nice web user interface.
2) p2p pools. In my cgminer it is easy to specify a connection to a pool, basically the stratum address, username, pw. Is it any different connecting to a p2p pool? How much more complicated? Im not the sharpest tool in the shed..
3) regarding bitcoin, it seems there is a set amount of bitcoin that is currently in circulation, and will only ever be a set amount to be produced (i think i read the total amount of BTC will only ever be like 21 million or something).. I cant help but picture like 20 people/organisations owning 99% of the bitcoin and never trading it since it is so rare. How can Bitcoin succeed if so much could just be placed in someones vault? and what if someone mistakingly destroys 80% of it or something..
4) I see uchangetip popup from time to time on the bitcoin reddit. How do they know where to send bitcoin to random people posting here. Do we have to post our public wallet address to get tips? If I want to tip someone, how do I find their address?
5) Do you guys "reinvest" mined BTC into cloud mining? Someone said something interesting at the ghash chat that "its better to have the BTC actually doing something (mining for you) then letting it just sit there". That seems like a logical stance.. Is it? Would you recommend it?
Anyways I will stop there since I realize if I asked all the questions currently in my head it would fill an entire page.
Thanks in advance fellow miners! :)
submitted by AaronPaul to BitcoinMining [link] [comments]

As some people lose interest in Bitcoin, will the network be more prone to a 51% attack?

I noticed a block eruptor on eBay today, a 32GH/s asic, same speed as mine for a sixth of what I paid for it. Almost as cheap as cloud mining on CEX.io.
It made me think about the slowly declining value USD value of Bitcoin and home some people's interest is waning. I am not one of these people, but I am concerned that this could result in possibly make the network more prone to a 51% attack because waning interest = declining difficulty.
One only need to look at the sudden rise and crash of Auroracoin to see what could happen. After the so called 'Airdrop' many people lost interest and with that the difficulty dropped an immense amount allowing someone to take advantage of the 51% flaw.
Is this always going to be a worry Bitcoin users will have? It was only last year that everyone panicked with regards to Ghash's pool hash rate.
Why haven't we switched to a more secure system like P2Pool yet? It's my understanding that if this was the only way miners were permitted to hash out blocks, there would be no 51% vulnerability. Am I wrong?
Anyway, much musing from a bored miner who just realised one of his PSUs died.
submitted by samcornwell to Bitcoin [link] [comments]

Ethcloud.info-Innovative Ethereum Cloud mining service

Hello Ethereum community,
Ethcloud is a startup company which focus upon delivering Ethereum cloud mining service. We believe ethereum is the future of decentralised world. Our mission is to facilitate a profitable mining opportunity to one and all and become Hashnest/Ghash of ethereum mining. But alone is a difficult task so we need your support to grow at large.
Currently,we are in crowd funding stage which will run till the mid of October,when we will start rolling our services to the reserved users. That means,reserved users will start generating coins from Day 1 when the service goes live.New users may have a different price and may not have one or two products. Everything will be transparent including the crownfund Ethereum and Bitcoin wallets.
Our packages and pricing are discussed below-
We offer on demand mining with small packets of hashing power called Ethereum Hashing Units or EHU for a low as $1. 1 EHU is equal to $0.044/MH/day.It means if u buy $1 worth of EHU u would get approx 23 days of 1 MHs hashing.
In Essential package,we offer 1 MHs of hashing power for lifetime.By lifetime specifically we mean that even if ethereum mining becomes non-feasible down the line we will project towards mining other coins similar to ethereum codebase like - Shift,EXP,SOIL,LIQUID etc..
The Prospective package is the package where u already have an ROI given the fact that u will already own a AMD R9 280x GPU in your dashboard and can be requested to be sent to you anytime. You can use your purchased hardware in our facilty to mine coins for as long as u wish.Later on we may add options to use your own hardware to mine in our facility.
We are working on developing a ethereum mining pool of our own and will try to implement proxy mining as well.
Realistic time to start rolling our services to the reserved users will be around mid of october.
Payments are processed by Coinpayments.net.Bitcoin is accepted.We are working on mode of payment by ether.
Kindly visit our website: www.ethcloud.info for more info and reservation.
Official twitter : https://www.twitter.com/ethcloud
regards, Albert
submitted by ethcloud to ethereum [link] [comments]

Ethercloud.info - World's first EHT cloud mining service coming soon! [crowdfund phase]

Hello Ethereum community!
We are a European startup company named Ethercloud. Our business branche should speak for itself ;) Since we believe firmly in the future of Ethereum, our concept and vision is becoming reality.
Our goal is to setup a huge mining farm, and become the Hashnest/Ghash of Ethereum. Of course, only dreams and visions wont fulfill the idea of running the largest cloud mining farm.
Currently, we are in the crowdfunding stage of our cloud mining farm. Until now, we managed to setup a 2.3Gh/s mining rig. Using crowdfunding, we want to keep expanding this farm by adding hardware on a weekly base. All purchases will be posted publicly, so we will be transparent with the investors of this crowdfunding campaing.
Once in production, we can offer on demand hosting for as cheap as 0.044$/Mh on our Enterprise package! Regular base price at this time is 0.05$/Mh
Let's talk about reality and numbers;
We have free space and electricity inside a pharmaceutical facility. Maybe we need to start paying a share for electricity consumption in the (near) future as our hardware supply keeps growing. But until now, it's all for free (relatives running the facility)
Our only cost to expand is the mining hardware itself. This also allowes us to offer cloud mining at competitive priceranges.
We are working on open source mining proxy to divide the hashrates to specific pools. Users will also be ablo to mine other coins running the Ethereum algo.
Realistic time for opening for the general public is +/- October 2015. We need at least 5Gh hashrate to fulfill the demand.
Crowdfunding payments are processed by coinpayments. Paypal and Bitcoin are accepted, we are working to implent Ethereum acceptance
Please show us your support for our project and visit http://www.ethercloud.info/ Our official Twitter account is https://twitter.com/Ethercloudinfo
Kind regards,
Bjorn
submitted by Ethercloud to EtherMining [link] [comments]

It seems to me that Ghash.io has a limited understanding of what encompasses the market.

It seems to me that Ghash.io has a limited understanding of what encompasses the market. The market comprises all voluntary interactions between individuals (hiring a hit-man is a market-exchange, the hitman executing isn't). Consumer awareness groups (or individuals) are as much a part of the market as the companies whose practises they are attempting to bring to light.
Claiming that you are a being punished for your success is like if: The ocean was commons, and one fishing company fished so hard that other people were not able to fish because doing so would wipe the fish out (<-- this part is not as closely related to ghash/bitcoin as some other parts of my analogy turned out to be, so don't try too hard to understand it, it's just a generally equivalent situation), and eventually the fishing company would fish so much as to put itself out of business too, whilst a consumer awareness group was trying to inform the customers of the fishing company that by buying from that company, they are causing people to starve, and eventually will cause themselves to not be able to buy fish from anywhere too; so they're better giving their custom to a different fishing company, whose fish vary in price by 0.16% more than the irresponsible fishing company, because sometimes they have reduced supply (to avoid overfishing).
Ghash.io is like the company which is over-fishing the waters whilst other fishermen around them are fishing relatively responsibly. The hashers pointed at ghash are like the customers buying from ghash.io. Reddit is the consumer awareness group.
Perhaps the responsible mining pools could provide private open pgp keys to their customers which they can use to prove to Bitcoin companies that they are a member of a responsible mining pool, in exchange for an x% discount off their goods/services. We need to get something going like this, to incentivise responsible behaviour (also incentivises mining pools to be responsible, e.g. criteria may be that they hold <5% of the hashing power to receive the ability to give out valid private keys, as the hashers will be incentivised to join those pools to receive their discount.). The bigger Bitcoin becomes, the more influence this will have. Changing the protocol is not the only solution, I am showing you 'outside the box'. Have a look around.
--Writing will get really sloppy beyond here as I get more tired, please excuse me--
So, I’m going to expand briefly on the previous paragraph: Perhaps someone should start a company that works with businesses who accept or use Bitcoin (particularly those who value it to a significant degree), and with mining pool operators. The company will encourage the Bitcoin businesses to offer discount rates to customers who can provide cryptographic proof (e.g. open pgp key for example) that they are a hashing at a responsible mining pool (not sure how the hasher proves this to the pool operator but I’m sure there’s a way; whilst it would be very simple in the case of cloud hashing). So in the case of cloud hashing they receive the pgp key with they subscription; in the case of hard mining (or whatever it’s called), maybe there is some way of proving hash rate (probably is, I’m too tired to search this up now and I’m not an expert). So, the Bitcoin companies provide the means for the responsible pools to generate valid keys to provide to users.
Ok that’s it, please excuse the poor writing as I just scrambled this together before bed; I work very long hours during the week and I thought this was important to post now…
submitted by miles37 to Bitcoin [link] [comments]

Cloud mining

Hi I'm not new to bitcoin however, I've never really mined it before all my coins I've gotten from faucets but lately I've been thinking about trying cloud mining I know there's cex.io ghash and has hop whis is the best and how does it really work? I literally have no cloud mining or mining experience with any cryptocurrency.
Thanks for your help and comments in advanced.
submitted by Rautaisetlintu to Bitcoin [link] [comments]

Bitrain  New Cloud Mining  ElderHash Scam  Review Uxance  Hash Power Free  Cloud Mining How to Mine bitcoins Get 750 Ghash free to mine bitcoins ROI in 3 months Best Cloud Mining - Bitcoin Cloud Services How To Set CPUMINER Ghash io BTC

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Bitrain New Cloud Mining ElderHash Scam Review

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