Quote from: itod on June 14, 2014, 11:33:49 AM

Quote from: NewLiberty on June 13, 2014, 01:15:09 PM

Imagine that those folks might do things, perhaps involving violence. Maybe things like starting wars and such.

There's no need for violence or a war, for failure of gigantic proportions, one hacker attack is enough. We've put ourselves in a position that we have a single point of failure, and if somebody gets hold of GHash.IO resources he can break the blockchain.

Quote from: Azlan on June 14, 2014, 02:42:35 AM

Historically, only 2 viable solutions exist:
1) An authority to regulate (% in this case)
2) Privatization

http://en.wikipedia.org/wiki/Tragedy_of_the_commons#Modern_solutions

Pick your poison..... but be quick about it.

Both solutions are unacceptable, I'd rather see Bitcoin fail than degrade it like that. Fortunately, we have some other options that were not there in the history. We have the source code, remember. Consensus can be reached to change it in a way to remove this threat. Core developers have to quickly reach consensus what to do.

If you would rather it fail then degrade then why are you even bothering with BTC Yes their was some double spends and GH are closing in on the 51% hash rate again maybe see it happen again and they make claims that they have nothing to do with it. I have since moved well away from their pool due to the fact that when you mine with own equipment I get nothing but stale dupes and rejected for about 40% of my work yet anywhere else is flawless. Rented hash their is fine tho so I don't get how the hell own hardware gets many rejected stale when all other pools I mine on are perfectly fine. Tried to contact support several times asked me to do may things. In the end I gave up and went elsewhere. Bitcoin will always some how get degraded no matter what that's fact.