51% Attacks from mining pools

#1

THIS WAS SENT TO ME BY A VERY KNOWLEDGEABLE PERSON REGARDING ETN, IT MUST BE CONSIDERED UNDER CURRENT CIRCUMSTANCES.
A quick breakdown. Poolin mining pool is propping up the chain with an overwhelming 57.5% of the blockchain’s hashpower 1.28 G/hash. A “Private” unnamed operator potentially has another 33.4% of the network. The remaining 9ish % make up all the other pools. The blockchain is and has been at risk for some time on this algorithm being controlled by a single major player. Not to mention a 51% attack, if the Poolin pool went down, a potentially serious loss and ability to find the next block in the specified time range could occur as we saw the last time Electroneum LTD went from ASICS back to GPU’s on such short notice. Is this under consideration? We may be experiencing a hourly attack which is dragging down the value, every time we make some ground we cannot hold and get taken down. This method of manipulation is in my opinion being used by some unscrupulous individuals to halt progress with ETN. Please correct me if I’m wrong, I have seen data that supports this issue and I believe it can be easily solved.

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#2

How can you solve it?

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#3

I’m not the person with that expertise unfortunately. Im just putting it out there in the hope that we are wrong for a start, if not maybe now someone understands what is possibly going on they can fix the problem.

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#4

For a long time f2pool was a problem. I believe @BegaMutex spoke about this once.

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#5

This is an old problem unfortunately which is beeing ignored overtime.
Im not sure about a 51% attack, but the blockchain mining empty blocks that are in the hands of an entity which after all is dumping everything its very bad :slight_smile: .
Don’t need to be a blockchain expert to notice it. Its enough to follow etns price after something good is released. Ive been watching it for 2-3 months now and a project with such a high potential cant sit under 2 cents for a year almost

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#6

It would be beneficial to resolve any problems such as this before MWC because a huge amount of people are hinged on the outcome as to whether they will stay or walk. Its sad to think that the value is what incentivizes people but without these investors ETN would have never gotten the funding required to achieve the heights it has. So in all fairness everyone should have there day in the sun.

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#7

Just remember, investors are not the target here. The unbanked are. When the unbanked have the complete ecosystem, any investor that walked is going to be kicking himself. This isnt foe us but we can benefit greatly from it.

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#8

I think after what I just wrote my standing is obvious, we should also understand that this is the enablement currency it is for everybody. I said “its sad to think that some people are incentivized by value”, which acknowledges I understand the vision. I would also think inclusivity is paramount, not all first world people are in a position to benefit, the rich keep getting richer and the middleclass are being kicked to the curb, I know because I’m one of them.

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#9

I agree with you 100% and This gives TANWAX FOMO

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#10

Trust me do i know. Every time I save a little money a tragedy happens and there goes my savings. Its a never ending struggle.

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#11

Bbrother I wish you the very best in your ETN journey, nothing is set in cement these days. My goal is to do the best I can to support the future of my immediate and if possible, extended family. I haven’t had a pay rise in 5 years and even if I was offered one it wouldn’t keep my wage up with inflation so in actual reality I take a pay cut year in and year out. Its become quite sad what governments are doing to society and this opportunity is the only saving grace in my humble opinion. So best of luck, I hope we all have found a hidden treasure in Electroneum.

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#12

I agree when good news is out we dropping our price (last time it easy can see when cloud mining for Android went out)… ETN team should look on that is it nornal? Dont think so… hope after MWC we dont see that again

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#14

Its crypto. People sell on news. It will change when the coin is being used not just traded.

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#15

There is talk about a pool performance-fix on github in the next update:

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