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MemoryCoin / Re: One pool with almost 100% hashpower
« on: December 26, 2013, 07:05:35 pm »I don't mind the serverside being closed source as long as there is at least 6 other pools. It does work well in all fairness but one person should not have this much power.Not this early. You do not want to 51% the coin you have income in, that would kill it right away.The fact that they are already doing this, but on a pool that can damage the networkCurrently there is one pool with almost 100% hashpower. It makes MemoryCoin very unsecure at the moment.The creator has sold the source code to "a few" people.
We definitely should do something with it.
Personally I feel it should be opensourced.
Still got a few days until they create pools :S has the damage already been done?
I am asking how much it will cost to buy, but I imagine it is a ridiculous sum. I would have a pool up by this evening however.
Opesourced to community of greedy, selfish miners who don't mind to mine with every bit of cpu power they can get for free or steal? Hmm, what could possibly be wrong with this?
On the contrary -- this is the perfect time to cement your own business and damage everyone else. You don't have to destroy the currency as such, you *are* supporting it, but are the only party who can mine as much as desired -- and you can let others mine, or not mine as you please.
Until, say difficulty rises and you lose interest.
It is *really* bad idea to release new crypto currencies without already designed mechanism to start pools -- with open source software. People will mine anyway -- making sure that only few will have the privilege to benefit from this is bad. Wasting lots of resources by building closed source "sort of works" pools is expensive for everyone.