Discus Fish (aka F2Pool) Bitcoin mining Pool Review ...

Bitcoin Mining Pool F2Pool (Discus Fish) Maintains: BIP 101 Not an Option

Bitcoin Mining Pool F2Pool (Discus Fish) Maintains: BIP 101 Not an Option submitted by desantis to Bitcoin [link] [comments]

Bitcoin Mining Pool F2Pool (Discus Fish) Maintains: BIP 101 Not an Option

Bitcoin Mining Pool F2Pool (Discus Fish) Maintains: BIP 101 Not an Option submitted by desantis to btc [link] [comments]

Bitcoin Mining Pool F2Pool (Discus Fish) Maintains: BIP 101 Not an Option

Bitcoin Mining Pool F2Pool (Discus Fish) Maintains: BIP 101 Not an Option submitted by desantis to bitcoinxt [link] [comments]

Bitcoin Mining Pool F2Pool (Discus Fish) Maintains: BIP 101 Not an Option

Bitcoin Mining Pool F2Pool (Discus Fish) Maintains: BIP 101 Not an Option submitted by Cryptoconomy to cryptoconomy [link] [comments]

Bitcoin Mining Pool F2Pool (Discus Fish) Maintains: BIP 101 Not an Option

Bitcoin Mining Pool F2Pool (Discus Fish) Maintains: BIP 101 Not an Option submitted by BTCNews to BTCNews [link] [comments]

A review of the Discus Fish / f2pool bitcoin mining pool

A review of the Discus Fish / f2pool bitcoin mining pool submitted by dublinjammers to Bitcoin [link] [comments]

Bitcoin Mining Pool F2Pool (Discus Fish) Maintains: BIP 101 Not an Option

Bitcoin Mining Pool F2Pool (Discus Fish) Maintains: BIP 101 Not an Option submitted by BitcoinAllBot to BitcoinAll [link] [comments]

How Discus Fish Became China's Largest Bitcoin Mining Pool

How Discus Fish Became China's Largest Bitcoin Mining Pool submitted by macsubhine to Bitcoin [link] [comments]

How Discus Fish Became China’s Largest Bitcoin Mining Pool

How Discus Fish Became China’s Largest Bitcoin Mining Pool submitted by BTCNews to BTCNews [link] [comments]

We’ve been working on a new product release for a year and want to hear your opinions on the product. Read on for product information and our vision for hardware wallets.

TL;DR Key features of Cobo Vault 2nd gen we are going to launch:
Hey bitcoin! I'm Lixin, a longtime Bitcoiner and creator of Cobo Vault.
I come from a background in the electronic hardware industry, and experienced one of my products being featured in Apple Stores around the world. Although my interest goes back to 2010, my career intersected Bitcoin when Discus Fish (CEO of Cobo) invited me to help build Cobo’s hardware product line. Discus Fish is also the co-founder and CEO of f2pool, one of the largest mining pools currently in the world, and one of the earliest advocates of bitcoin in China.
Back in 2018 we built our 1st generation Cobo Vault hardware wallet. As we had strong ties to miners in China, we naturally designed the 1st gen with them in mind. For those who are not familiar with the mining industry in China, mining farms are nearly always built in very isolated places where there is very cheap wind or water electricity. As the miners would take their storage into these isolated regions, we needed to maximize the durability of the device in addition to its security. We used aerospace aluminum rather than plastic and made it completely IP68 waterproof. We also gave it a hardshell metal case you can put it in, which is IK9 drop resistant and passes the American military durability test MIL-STD-810G.
As for the electronic components inside the device, in order to maximize security, we made it as air-gapped as possible with QR codes. We see this as an important choice because USB cables and Bluetooth are not transparent and have a bigger attack surface. With QR codes you can see exactly what is going on and do not have to connect to a laptop which could have malware on it. QR code interaction needs a camera and a more complicated system which needs to be supported by high-level chips.
All these come with a cost, and the 1st generation isn’t as accessible for average hodlers. For more details on the product, visit here.
Things changed last year when I went to Bitcoin 2019 and talked to lots of hodlers in the States. I found that 95% of them don’t care about durability. I asked them if they were afraid of their home being flooded or burned down in a fire. The answer is - yes, they are afraid of these things, but see them as very low possibilities. Even if something were to happen, they said they would just buy another HW wallet for 100 dollars. From these conversations, it became more and more clear that the position for miners and hodlers is totally different.
After coming back from that conference, our team began the almost one year journey of designing our 2nd gen product. It compromises on durability but doesn’t compromise on security.
We designed the 2nd gen product all around a normal hodler’s needs.
Obviously hodlers share some common needs with miners:
If you'd like to read more about these features, check out our blog posts here.
Aside from these legacies from the 1st gen, our 2nd gen product will have some other big improvements:
Personally, I am a bitcoin maximalist and also a big fan of the KISS principle. We will also release a BTC-only firmware version for people who want to minimize the codebase for less of an attack surface.
Thank you for reading until here. More details like final price would be released later when we officially release the product in late Apr. Any suggestions or questions are welcome. Also you can find me @CryptoLixin or @CoboVault on Twitter! Ears are widely open!
submitted by Bright_Charge to Bitcoin [link] [comments]

Meet Shixing "Discus Fish" Mao

Meet Shixing
Discus Fish, or "Bitfish," is an iconic figure in the Chinese crypto space. In 2013, he founded f2pool, one of the world’s largest cryptocurrency mining pools. Today, f2pool still ranks in the top 5 mining pools for Bitcoin, and top 2 for Ethereum, Litecoin and ZCash. As one of the first miners in China, he is a pioneer and thought leader in the mining community, and is widely accoladed for his contributions to the industry.
https://preview.redd.it/p306rsblblh11.png?width=600&format=png&auto=webp&s=1e5e4b267af717056dcd3333001e56b94b8641c5
submitted by hackkite to Cobo [link] [comments]

I’m Discus Fish, founder of Cobo Vault & Cobo Wallet. Ask Me Anything about cryptocurrency security, hardware, and more!

Hi, I’m Discus Fish, Founder and CEO of Cobo Vault and Cobo Wallet. Cobo Vault is the world’s first all-around secure, military-grade hardware wallet and Cobo Wallet is a mobile wallet with proof-of-stake pooling services that has over 500,000 users.
I wrote the very first Chinese-language mining tutorial and led the development of the 24-hour settlement protocol. I also co-founded F2Pool, now the world’s largest mining pool of integrated digital currencies! Here's some additional background: https://www.coindesk.com/chinese-mining-pool-discus-fish-bitcoin
Event: https://imgur.com/a/JwHnCTE
Proof: https://imgur.com/a/qS2xojE
Ask me anything about our company, digital assets, mining, and crypto security!
To get in contact after the AMA, please reach out to our Twitter handles at @Cobo_wallet and @Cobovault!
UPDATE: I'm signing off for a bit, but keep posting questions and I'll respond within the next few hours, thanks for everyone who took part so far!
submitted by cobo_global to CryptoCurrency [link] [comments]

Btcguild shutting down.

After many months of consideration, I have finally made the choice to announce the planned closure of BTC Guild. Below, I've outlined the closure process/timeline and reasons that this decision was made.
Closure Timeframe and Process As identified in the support section and in the 2nd post on this thread, BTC Guild has had an official policy for the amount of time that will be given in the event of closure. The official date that BTC Guild will cease all business is January 31, 2015. This post is the start of the identified 3 months of warning.
1) Effective immediately, registrations are closed to new users. 2) BTC Guild mining servers will remain online until November 30, 2014. 3) Users will have until 11:59 PM (PST) on January 31, 2015 to withdraw any remaining balances on their account.
The above timeline may change if BTC Guild is sold prior to the planned date of closure.
Main Reasons for Closure 1) Risk/cost of a successful attack against the pool. As pooled mining in general is shrinking due to large manufacturers creating private farms, the potential revenue for the pool has gone down as expected. While the pool is still very profitable, the amount of time it would take to recover from an attack has increased due to the overall share of the network shrinking.
BTC Guild has, to date, never been successfully hacked. However, I have seen a rise in attack attempts, and things like Heartbleed/Shellshock which show that efforts are being put into compromising common Linux services if possible. Neither of those attacks had any affect on BTC Guild, but they were both reminders that under BTC Guild's own code, there are many services which could be a doorway into the pool's servers if a vulnerability was discovered.
One successful attack could cost close to a year of pool revenue, maybe more depending on what happens in the mining landscape over that period of time. If something else happened in that time (subsequent attack or regulation forcing closure), it would mean continuing to operate the pool beyond this point has cost me more money than it might potentially make in the rest of its lifetime.
2) US government/regulators are already taking stances against specific business types in Bitcoin, applying requirements which would be impossible for BTC Guild to operate under if they attempt to extend regulation into pooled mining, either directly or indirectly due to unclear definitions. Nobody will mine on a pool which requires them to provide personally identifiable information when they can change a single line in their configuration to point elsewhere.
Additionally, state regulators are starting to make noise about Bitcoin. New York is the first to publicly put anything forward, but there are 49 other states which can put their own spin on things. Due to the ability for states to establish a nexus for businesses dealing with their state's residents, it is a scary landscape to continue operating in.
I have no intention of leaving the US myself, and given the recent history of the US when it comes to online businesses, I don't feel safe simply moving the business legal entity to another country while continuing to live in the US myself.
Aquisition and Users's Privacy/Funds In the event that BTC Guild is acquired prior to closure, users will not have their mining history and withdrawal history transferred to the new owner. All balances up to the date of aquisition will be retained by myself, and a separate service will be made available to claim any funds owed. I am unwilling to compromise on this, because I refuse to do anything where it puts the users of the pool at risk of not receiving what they've earned under my watch.
Pool Recommendations and Advice For users looking for a new home for their miners, I highly recommend BitMinter, Eligius, and p2pool. I do not recommend Slush over any of those 3 options, and I actively encourage users to not use Discus Fish or GHash.io. Other smaller pools exist which are run by honest people, but due to their size, it is difficult to recommend them to the average miner.
Closing Words When I got into Bitcoin back in March of 2011, I never expected anything that we've seen over the last 3 and a half years. I had never built a computer before, never run a server beyond a Gentoo PC in a spare bedroom, and never setup a website that experienced even 0.1% of the traffic BTC Guild gets on an average day.
Bitcoin and BTC Guild have both radically changed my life. While I am closing BTC Guild, I still plan to remain a part of the Bitcoin community. I do believe, even in the face of over-regulation, that Bitcoin will continue to grow and become more useful and usable. I just feel that it is time to move on from BTC Guild, and take pride in the fact that BTC Guild's closure can show that not all Bitcoin businesses end with somebody stealing funds from their users, either by "getting hacked" or outright theft.
submitted by TerreCiel to Bitcoin [link] [comments]

REAL LEGIT and PRO Ekrane - a platform for providing services in all mining process

Ekrane - a platform for providing services, for working with the use of cloud mining, PoS -forging mining and browser-based mining.

Fundamental crypto-business : Cloud mining, Masternode, Browser mining, Mining-mix

The legal side is the company EGALITY (LMD), technical development - E-GAME (AVG).

Ekrane - implemented as a multifunctional tool, a unique service for business, with a user-friendly interface and a simple management model.

The goal of the development was to simplify the provision of services in the field of cryptichesh extraction with available methods and to unite into a single mechanism, in the form of a business building strategy, accessible to each participant of the process.

Equipment:
Rental capacity.
Now Ekrane not only leases the computing power of a hasht for bitcoin, litecoin, ethereum and other complex algorithms, but also invests in the power of partners to increase the flow of profits.

At the moment, we are expanding the spectrum and increasing the capacity of cloud-based crypteshesh, using a hash lease in special cloud services, accumulating power in their data centers and farms. This is a new model of earnings, which creates groups (mining pools), with one goal: to get more revenue, in comparison with the usual distributed mining, due to the equipment management by the contractor, the technical and software components.

The capacity rent spectrum is directed to special crypto-currency farms, which are computer complexes with a large number of ASIC-devices united into a single computer network of algorithms.

Contracts for cloud mining with services: Lifetime Technology (Thailand) Co. Ltd (cryptominingfarm); (Flymining); (Eobot); (Bits2u); (Hashing24); (F2Pool Discus Fish); (BWPool) allow you to provide rental and power purchase services, under the algorithms SHA3, SHA256, Scrypt, Scrypt-N, X11, X13, X15, accumulated data centers and farms.

You can apply for a loan to purchase hashrate power (the maximum size is 0.01 BTC) or a loan for the Masternode investment (maximum is 0.03 BTC).
The loan period - until maturity, the interest rate is fixed and amounts to 12%.
Loans have a designated purpose and can be used to purchase or increase the power of a hashrate. After the loan is issued, the funds must be used as intended within a period of not more than 168 hours from the moment of registration, otherwise the loan amount and interest will be withdrawn from the wallet for purchase balance and the loan service will not be available in the future.
Repayment of the loan is as follows: for any accruals to your wallet for payouts, 50% of the accrued funds are automatically withdrawn in order to repay the loan. Withdrawal of funds will be stopped after the loan amount and the discounted interest rate has been fully repaid (12%).

Loans are available only to users who used the starting hashrate power of cloud mining. The user can not make more than one loan at a time. The next loan is possible only after the full repayment of the previous one. Be careful, activate the credit limit only for the use of funds for the intended purpose. Be careful, activate the credit limit only for the use of funds for the intended purpose.

The minimum deposit amout:
- For Rent: 0.0075 BTC.
- For Purchase: 0.05 BTC.
- For Masternode: 0.1 BTC.
- For Mining-mix: 0.002747 BTC.
The minimum payout amount: 0.0015 BTC.

Referral program depending the Level:
- Partner-Mining: 2.5%+1.5%+1%+0.75%+0.5%+0.25%+0.2%+0.15%+0.1%.
- Partner-Invest: 6%+4%+1.5%+1%+0.5%+0.4%+0.3%+0.2%+0.1%.
- Partner-Masternode: 5%+2.5%+1%.

The fee is fixed and amounts to 1000 satoshi per partner. Charging is carried out on the wallet for withdrawal.
Under the terms of the program, all invited partners must be active:
- activation of the account is obligatory by confirmation by email;
- activation of the bonus capacity of cloud mining in the "Base" tab is mandatory.
Payment methods: Bitcoin.

START HERE AND BE A REAL PROFESSIONAL of Mining:
https://ekrane.net?reg=bevzeogwepcfdhx
submitted by Ninobrown998 to u/Ninobrown998 [link] [comments]

Let's use Mike Hearn's Coinbase Reallocation to stop the censoring scammer KnCMiner!

Mike Hearn posted Coinbase Reallocation this morning to let the honest majority of hashing power regulate criminal miners like BitUndo. It's a really simple idea! Dishonest blocks and the miners who mine them are identified out-of-band by the community of reputable mining pools. For BitUndo that means submitting double-spends via the service and watching for them to be included in blocks. When they are the honest miners vote with their hashing power, just like they voted on whether or not Bitcoin needs new soft-forked features like P2SH.
When a coinbase output, the reward for mining, reaches the 100 block maturity the protocol simply counts up all the votes for the block. If a majority agrees the block is honest, great! But if not the coinbase reward is put into a pot of funds that subsequent honest blocks are allowed to claim for themselves. Unlike re-orging out dishonest blocks this isn't disruptive - confirmations are never undone - and at the same time it ensures that the bad miners can't profit from their malicious actions. It's compatible with nearly all major clients too because SPV clients, like Android Wallet and Multibit, just check that transactions are included in blocks and leave validation up to the mining community. (the idea being that majority of hashing power is honest and wouldn't include invalid transactions or give themselves un-earned Bitcoins)
KnC has been ripping off customers by self-mining rather than shipping hardware out the door. Their solo pool all pays to the address 1BGbGFBhsXYq6kTyjSC9AHRe1dhe76tD6i. We can stop this fraud right now with just the co-operation of just three people: the operators of GHash.io, BTC Guild, and Discus Fish, together a majority of the hashing power.
Of course, they might try to hide their illegal mining activities and make their blocks indistinguishable from others, like by paying out to a random address in each block. This is easily fixed too by voting to reallocate funds from any block without proper identification on hand. When that identification is provided to the honest and reputable hashing power the funds can be easily released from the pot and given back. Remember too that if we had proper identification for miners available the BitUndo criminals would be facing legal liability, a potent tool to stop fraud. (I guess P2Pool shares could be accompanied by identity proofs based on smartcard-enabled passports, although it'd be even better if that hashing power moved to a professionally run and secure pool that has the resources to comply with their reallocation regulation duties)
Finally, we can't forget our tax obligations. As much as we hate paying taxes - I know I'm putting off my April 31st deadline with Revenue Canada - they're an integral part of lawful society. With Coinbase Reallocation the honest majority can make sure that mining income not allocated properly to the relevant authorities is reallocated appropriately.
If Bitcoin is to succeed it has to be reputable, and reputable means recourse from fraud. Please tell the hashing power majority, GHash.io, BTC Guild, and Discus Fish, that we want a regulated and safe Bitcoin!
Serious edit: Of course, as nearly everyone realized, the above is satire. What far fewer realize is what I'm saying with that satire: Mike proposed a simple mechanism that essentially acts as a way for miners to vote with their hashing power to blacklist block rewards. Yes, you can do that already, but blacklists via reorgs are expensive, risky, and very difficult to co-ordinate; automated voting on what to blacklist is cheap and easy.
I'm sure he intended it to be used for exactly one thing - punishing miners who violate his notion of double-spending rules - but once such a mechanism is in place it can be used for a lot more than originally intended. If you were a big publicly known mining pool, could you really resist the pressure to just flip "one little switch" and vote to blacklist blocks produced by a "bad" pool at no cost to you? As I showed above, the definition of "bad" can extend to a lot more than just double-spends, and the pressures on pools to blacklist can and will be legal and regulatory.
submitted by petertodd to Bitcoin [link] [comments]

Btcguild shutting down.

After many months of consideration, I have finally made the choice to announce the planned closure of BTC Guild. Below, I've outlined the closure process/timeline and reasons that this decision was made.
Closure Timeframe and Process As identified in the support section and in the 2nd post on this thread, BTC Guild has had an official policy for the amount of time that will be given in the event of closure. The official date that BTC Guild will cease all business is January 31, 2015. This post is the start of the identified 3 months of warning.
1) Effective immediately, registrations are closed to new users. 2) BTC Guild mining servers will remain online until November 30, 2014. 3) Users will have until 11:59 PM (PST) on January 31, 2015 to withdraw any remaining balances on their account.
The above timeline may change if BTC Guild is sold prior to the planned date of closure.
Main Reasons for Closure 1) Risk/cost of a successful attack against the pool. As pooled mining in general is shrinking due to large manufacturers creating private farms, the potential revenue for the pool has gone down as expected. While the pool is still very profitable, the amount of time it would take to recover from an attack has increased due to the overall share of the network shrinking.
BTC Guild has, to date, never been successfully hacked. However, I have seen a rise in attack attempts, and things like Heartbleed/Shellshock which show that efforts are being put into compromising common Linux services if possible. Neither of those attacks had any affect on BTC Guild, but they were both reminders that under BTC Guild's own code, there are many services which could be a doorway into the pool's servers if a vulnerability was discovered.
One successful attack could cost close to a year of pool revenue, maybe more depending on what happens in the mining landscape over that period of time. If something else happened in that time (subsequent attack or regulation forcing closure), it would mean continuing to operate the pool beyond this point has cost me more money than it might potentially make in the rest of its lifetime.
2) US government/regulators are already taking stances against specific business types in Bitcoin, applying requirements which would be impossible for BTC Guild to operate under if they attempt to extend regulation into pooled mining, either directly or indirectly due to unclear definitions. Nobody will mine on a pool which requires them to provide personally identifiable information when they can change a single line in their configuration to point elsewhere.
Additionally, state regulators are starting to make noise about Bitcoin. New York is the first to publicly put anything forward, but there are 49 other states which can put their own spin on things. Due to the ability for states to establish a nexus for businesses dealing with their state's residents, it is a scary landscape to continue operating in.
I have no intention of leaving the US myself, and given the recent history of the US when it comes to online businesses, I don't feel safe simply moving the business legal entity to another country while continuing to live in the US myself.
Aquisition and Users's Privacy/Funds In the event that BTC Guild is acquired prior to closure, users will not have their mining history and withdrawal history transferred to the new owner. All balances up to the date of aquisition will be retained by myself, and a separate service will be made available to claim any funds owed. I am unwilling to compromise on this, because I refuse to do anything where it puts the users of the pool at risk of not receiving what they've earned under my watch.
Pool Recommendations and Advice For users looking for a new home for their miners, I highly recommend BitMinter, Eligius, and p2pool. I do not recommend Slush over any of those 3 options, and I actively encourage users to not use Discus Fish or GHash.io. Other smaller pools exist which are run by honest people, but due to their size, it is difficult to recommend them to the average miner.
Closing Words When I got into Bitcoin back in March of 2011, I never expected anything that we've seen over the last 3 and a half years. I had never built a computer before, never run a server beyond a Gentoo PC in a spare bedroom, and never setup a website that experienced even 0.1% of the traffic BTC Guild gets on an average day.
Bitcoin and BTC Guild have both radically changed my life. While I am closing BTC Guild, I still plan to remain a part of the Bitcoin community. I do believe, even in the face of over-regulation, that Bitcoin will continue to grow and become more useful and usable. I just feel that it is time to move on from BTC Guild, and take pride in the fact that BTC Guild's closure can show that not all Bitcoin businesses end with somebody stealing funds from their users, either by "getting hacked" or outright theft.
submitted by TerreCiel to BitcoinMining [link] [comments]

Scenario: Falling Butt Price leads to Selfish Mining

I've thought of ways bitcoiners could undermine bitcoin itself.
Suppose the price falls to where a butt is not worth much more than the electricity and hardware costs to mine it (if it's not already).
Suppose a pool with 25% of the hash rate (Discus Fish) for example starts selfish mining. That way they make more bitcoins and the other mining pools make less.
These smart guys figured out Selfish Mining exists. http://hackingdistributed.com/2014/01/15/detecting-selfish-mining/
Everybody I know on sealswithclubs who knows technical details about bitcoin just dismissed and hand-waved Selfish Mining when it first came out. That was the beginning of my understanding.
It's hard to detect, but people are working on that. I really think this is a possiblity. Of course butters don't like to talk about it. The people who found this attack aren't even anti-bitcoin. At least 2 solutions have been proposed but I don't think they'll be implemented.
submitted by SealsEvolutionary2 to Buttcoin [link] [comments]

Looks Like GHash.IO Finally Raised Their Block Size Cap To ~341 KB

https://blockchain.info/block-height/283100
https://blockchain.info/block-height/283093
https://blockchain.info/block-height/283091
https://blockchain.info/block-height/283085
This is good news. Like, actual good news, not some guy trying to make bad news into good news(aka half of this subreddit). With such a large mining pool raising the block size limit, it allows for the Bitcoin network to support more growth. While raising the limit by about 100 KB is not much, it shows that they're willing to raise their limit if it proves necessary for the network.
With many merchants hopping on board and accepting Bitcoin, it's inevitable that they will need to raise it in the future to support the volume it will see. Glad to see the mining pool Ghash.IO with a questionable history has chose to do this for the sake of Bitcoin, I imagine they may raise it again someday if it needs to be.
Meanwhile though the pool Discus Fish with 14% of hashing power seems to be capping their blocks at 48 KB-this is not good.
submitted by skilliard4 to Bitcoin [link] [comments]

BTCGuild closing!

Just an FYI for those diversified shibes, BTCGuild is closing effective January 2015!
"After many months of consideration, I have finally made the choice to announce the planned closure of BTC Guild. Below, I've outlined the closure process/timeline and reasons that this decision was made.
Closure Timeframe and Process As identified in the support section and in the 2nd post on this thread, BTC Guild has had an official policy for the amount of time that will be given in the event of closure. The official date that BTC Guild will cease all business is January 31, 2015. This post is the start of the identified 3 months of warning.
1) Effective immediately, registrations are closed to new users. 2) BTC Guild mining servers will remain online until November 30, 2014. 3) Users will have until 11:59 PM (PST) on January 31, 2015 to withdraw any remaining balances on their account.
The above timeline may change if BTC Guild is sold prior to the planned date of closure.
Main Reasons for Closure 1) Risk/cost of a successful attack against the pool. As pooled mining in general is shrinking due to large manufacturers creating private farms, the potential revenue for the pool has gone down as expected. While the pool is still very profitable, the amount of time it would take to recover from an attack has increased due to the overall share of the network shrinking.
BTC Guild has, to date, never been successfully hacked. However, I have seen a rise in attack attempts, and things like Heartbleed/Shellshock which show that efforts are being put into compromising common Linux services if possible. Neither of those attacks had any affect on BTC Guild, but they were both reminders that under BTC Guild's own code, there are many services which could be a doorway into the pool's servers if a vulnerability was discovered.
One successful attack could cost close to a year of pool revenue, maybe more depending on what happens in the mining landscape over that period of time. If something else happened in that time (subsequent attack or regulation forcing closure), it would mean continuing to operate the pool beyond this point has cost me more money than it might potentially make in the rest of its lifetime.
2) US government/regulators are already taking stances against specific business types in Bitcoin, applying requirements which would be impossible for BTC Guild to operate under if they attempt to extend regulation into pooled mining, either directly or indirectly due to unclear definitions. Nobody will mine on a pool which requires them to provide personally identifiable information when they can change a single line in their configuration to point elsewhere.
Additionally, state regulators are starting to make noise about Bitcoin. New York is the first to publicly put anything forward, but there are 49 other states which can put their own spin on things. Due to the ability for states to establish a nexus for businesses dealing with their state's residents, it is a scary landscape to continue operating in.
I have no intention of leaving the US myself, and given the recent history of the US when it comes to online businesses, I don't feel safe simply moving the business legal entity to another country while continuing to live in the US myself.
Aquisition and Users's Privacy/Funds In the event that BTC Guild is acquired prior to closure, users will not have their mining history and withdrawal history transferred to the new owner. All balances up to the date of aquisition will be retained by myself, and a separate service will be made available to claim any funds owed. I am unwilling to compromise on this, because I refuse to do anything where it puts the users of the pool at risk of not receiving what they've earned under my watch.
Pool Recommendations and Advice For users looking for a new home for their miners, I highly recommend BitMinter, Eligius, and p2pool. I do not recommend Slush over any of those 3 options, and I actively encourage users to not use Discus Fish or GHash.io. Other smaller pools exist which are run by honest people, but due to their size, it is difficult to recommend them to the average miner.
Closing Words When I got into Bitcoin back in March of 2011, I never expected anything that we've seen over the last 3 and a half years. I had never built a computer before, never run a server beyond a Gentoo PC in a spare bedroom, and never setup a website that experienced even 0.1% of the traffic BTC Guild gets on an average day.
Bitcoin and BTC Guild have both radically changed my life. While I am closing BTC Guild, I still plan to remain a part of the Bitcoin community. I do believe, even in the face of over-regulation, that Bitcoin will continue to grow and become more useful and usable. I just feel that it is time to move on from BTC Guild, and take pride in the fact that BTC Guild's closure can show that not all Bitcoin businesses end with somebody stealing funds from their users, either by "getting hacked" or outright theft.
October 31, 2014"
submitted by cbinrva to dogecoin [link] [comments]

Discus Fish mined 10000 blocks

Quote from: https://bitcointalk.org/index.php?topic=700411.msg9430064#msg9430064
Discus Fish thanks user jua005 for mining the 10000th main chain Bitcoin block of F2Pool. The block was found at 2014-11-04T02:03:14Z. Since the opening of the pool on May 5, 2013, we have received 6.155×1023 double sha256 hashes from our users. So far we are the largest Bitcoin and Litecoin mining pool in the world, at 75Phash/s and 350Ghash/s.
submitted by macbook-air to Bitcoin [link] [comments]

How Can We Encourage Pools To Increase Their Maximum Block Size?

As of right now, the Maximum block size allowed by the network is 1 MB. However, many pools are still using significantly lower limits on blocks:
Discus Fish: ~50 KB
ASICMINER: ~250 KB
Bitminter: ~250 KB
Deepbit: ~250 KB
Bitlc: ~250KB
Slush: ~250 KB
GHash.IO: ~350 KB(recently upped from 250 KB)
BTCGuild: ~500 KB
Now for some math.
Ghash.IO has 27% network control, and is not utilizing 65% of the network's potential(350KB used/1MB max)
That's 17.5% not utilized from them alone(27*0.65). Let's add it up for all the major, known pools
Discus fish 14%, not utilizing 95%(50KB/1MB)
13% of network unused
BTCguild 24%, not utilizing 50%(500KB/1MB)
12% unused
Deepbit, Bitlc, Deepbit, Bitminter combined: 10%, all using 250 KB caps(not utilizing 75%) 7.5% unused
Just those known pools add up to 50% of the network's potential not being utilized. This isn't counting unknown miners that also cap their limits or ones I didn't bother listing. The point is, we need to convince mining pools to raise their limits as Bitcoins volume expands, or it wont support all of the new activity. Increasing the block size limit won't do much when few miners even utilize it, so this must happen first.
(please correct me if any of this data is incorrect)
This limits the amount of volume the Bitcoin network can handle. If all of the transactions cannot fit into a block, they get pushed into the next block. If blocks continually cannot fit all of the transactions, we can theoretically run into a sort of a "traffic jam" where the blockchain can not support all of the transactions. As of right now it isn't uncommon to go 2 hours or more without getting a confirmation even with the standard miner fee due to increased usage.
With major merchants regularly getting started with Bitcoin, this can become an even bigger problem in the near future. More people are paying with Bitcoin, and it's reaching the point where it can't be handled. I'm almost glad that no huge company like target has accepted Bitcoin, because them doing so would almost certainly bring Bitcoin to a standstill as it simply can't support the volume.
The issue is that miners have little incentive to raise their maximum blocksize, and actually have incentives not to. Larger blocks take slightly longer to send, which makes them slightly more likely of being orphaned. This slight risk is important, as an orphaned block means losing 25 BTC. To many pools, this slight risk of losing 25 BTC is more important than the negligible gains they get from transaction fees. The risk is extremely small, and a 900 KB block only takes microseconds longer to send than a 100 KB block, but pools like to maximize their profits.
As a community, in addition to moving to smaller pools, can we try to move to pools with higher block size limits?
P2pool is a decentralized mining pool, and the block finder can set the maximum block size. Remember to set:
blockmaxsize=1000000
You get more in transaction fees from this and help the network. By using p2pool with the maximum blocksize limit, you're helping the network not only by spreading the hashes, but by relaying more transactions than competing pools.
If p2pool is too hard for you or you lack the hashing poweability to store the blockchain, Eligius is also very easy to setup and uses the maximum limit, but they are somewhat large of a pool.
What is everyone's thoughts on this? I feel like Bitcoin has a ton of potential, but miners need to up their limits to support all of the usage it's seen lately. It's only inevitable that at some point the network won't be able to handle all the new adaptation if we don't change anything.
submitted by skilliard4 to Bitcoin [link] [comments]

The biggest pool, and the block validation attack.

It seems so long ago, the community came together against ghash.io, despite ghash claiming it would 'do no harm' and a new hashrate leader, Discus Fish/F2pool, stepped up to the plate.
Of course they don't intend the network harm. But that's not the point, is it? Is it possible that being able to increase the validation time for the other miners via massive transactions opens the door for an attack? If so, Ironically, given its initial use.
Let's try and spread the hashrate around better, for the health of our network. Leave F2pool to further the goal of decentralization. Thank you everyone.
submitted by bitsko to Bitcoin [link] [comments]

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While looking through the various pools, and the overall market share over on Blockchain, and rising in prominence throughout 2014 has been the Chinese mining pool, F2Pool, better known in the Bitcoin mining world as the Discus Fish mining pool. Discus Fish operates using a PPS (Pay Per Share) reward system, taking a 4% fee. F2Pool is one of the largest Chinese Bitcoin pool, launched in the year 2013. It is better known as Discus Fish mining pool in the world of Bitcoin mining. Apart from Bitcoin, Litecoin, Ethereum, and Zcash are mined here. The difficulty level in mining is based the hash power, as the site uses stratum mining protocol and vardiff. Blockchain.info have updated their pool detection, so the pools stats page is more informative now, meaning the "Unknown" part of the cake is smaller.. And out of nowhere comes someone called Discus Fish, currently at 14%. All their blocks are at most 48K, which is tiny. Discus Fish opened its doors on 5th May, 2013, and in addition to its bitcoin mining power, also makes up roughly 30% of the litecoin network. Today, it sports on average 7,500 active users out of ... This is the list of the best mining pools.To get the top or top 10 bitcoin mining pools click "sort" in the table. Blockchain mining pools got popularity as there are more opportunities to earn money with cryptocurrency mining. It is difficult to say which pool is the best for mining bitcoin, people have various opinions on the same services.

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$7000 ASIC Miner Mined $1000 Dollars in Bitcoin in a Month ...

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