Bitcoin Board
Bitcoin mining pool Ghash.io was the most talked about story today on the Bitcoin reddit. Several people made warnings about Ghash.io approaching 51% of the network hashrate, and therefore potentially forming a big danger to the Blockchain.
Ghash.io has just released this official press release, where they state that they will take “all necessary precautions to prevent reaching 51% of all hashing power, in order to maintain stability of the bitcoin network”. At this moment Ghash.io will temporarily stop accepting new miners to their pool, to prevent more hashrate getting added to their pool.
Secondly, they will allow users of Cex.io, their other site that allows you to buy Gigahashes online (cloudmining), to choose to point their Gigahashes to different pools. Ghash.io will stay a free pool, and will not implement a fee to scare off miners as they believe “the pool has to remain free”.
They also stated that “GHash.IO does not have any intentions to execute a 51% attack, as it will do serious damage to the Bitcoin community, of which we are part of”. However, they are known for double spending in the past. Wether or not Ghash.io has bad intentions, we appreciate the fact that they have released this official statement addressing the issue.
