Ninjastic
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Re: [ANN] Spondoolies-Tech - carrier grade, data center ready mining rigs
by
zvisha
on 29/01/2015, 20:19:34 UTC
Quote from: MrTeal on January 29, 2015, 07:58:40 PM
Quote from: johnyj on January 29, 2015, 07:54:14 PM
Quote from: Spondoolies-Tech on January 29, 2015, 06:05:57 PM
Quote from: johnyj on January 29, 2015, 05:06:39 PM
Have you ever considered in forming an alliance like OPEC to limit the hash rate race?  Wink  I just saw Bitfury said that their cloud service would only add hardware based on demand, is this a trend towards more cloud based service?
It's funny to read it from mega self miner.
No, it's illegal.

How is that illegal?  Smiley It is just a consensus (if it ever can be reached). Even pools can be allied together to protect against a faulty fork in 2013, and against potential 51% attack if it ever happens

Imagine a vendor that have leading semi-conductor process 10nm, he can limit his production scale at a certain level so that the network hash rate increase slowly. He then could start a cloud mining service and sell the hash power at market rate, which leaves him large margin to deal with market volatility. I think that is what Bitfury means
It's collusion, and depending on how it's done it can definitely be illegal.
http://www.ctvnews.ca/business/multimillion-dollar-settlements-reached-in-lcd-price-fixing-class-action-1.2000656

I don't know if this is illegal, but the whole idea of bitcoin is that it works best when the miners don't trust each other. If miners start making deals, then why not make 51% attack? The more miners hate each other the better for the BTC it is Smiley