Grin Pool Centralization Over 80%

Mining
21

Probably it would be good to schedule a meeting between all mining pool’s.
I would need some help here from the community to send me:

  • Pool name
  • contact person
  • how to contact (e-mail / Telegram / etc)
22

Next CC meeting is on October 26th 2021 we could try to invite them, or we could move the meeting one week to coordinate better.

1 Like
23

Good idea, but also it would be good to get to know the other pool operators/owners first and then we can join publicly.

1 Like
24

I have almost no time for 2 days and I could only come here.
Always.vip is about to reach over 80% of network power.

I have a solution suggestion in mind.
If the Always.vip pool makes the pool commission 4% or 5%, the miners will be under pressure to switch to other pools. I don’t want Always.vip to lose all of its miners, but when the limit drops below 50%, the pool commission can be reduced to as little as 2.5%, 2% or 1%. Also, the reason for this change can be explained on all social networks of always.vip so that miners don’t hate it.

This solution might work because when Xiao Jay increased the pool commission to 2.5%, some of the miners were starting to switch to Always.vip. Now if a high rate of 4%, 5% is set, the pressure will increase even more. Also, it would be healthy for Grinmint to reduce the pool commission to 1%. I know that the current pool revenue is low and reducing it to 1% will reduce the revenue even more, but if the number of miners increases, this may not be the case. At least in this process, this situation can be tried for a few months.
Also, let’s not forget that such sacrifices will always be remembered in the future.

It will be healthy for the managers of Grinmint, 2miners and always.vip to hold a meeting quickly.
I created a Telegram channel for this. I sent it to you as a private message. I will invite 2miners CTO too.
Also, I have been mining cryptocurrencies since 2014 and I have a good experience in this topic. I can join the meeting if you wish, or I can leave after you have gathered in the group.

25

Okay, I will try this now.

26

In fact, we felt that solo was the best, and we had a solo tutorial a long time ago. Then to solve the problem of existing exchanges transferring grins to each other, we made wallet.always.vip, but it proved to be ineffective.
Perhaps the only real solution is to produce more miners and sell them around the world, after all, people are used to staying in places they know.

27

It is suggested to suspend the closure of goblin mine pool (implement the policy of only going out and not going in), and wait for the complete dispersion of miners before complete closure,
Otherwise, grin may be destroyed due to the adjustment of China’s policy. The computing power of wallet.always.vips has exceeded 80%, which is extremely dangerous!

28

Always.vip have more than 2 grin nodes now, so maybe it’s not easy to start 51% for hackers ?

29

Thanks. I see you have set the fee to 3.6. Let’s see what effects it will have.
If it has no effect, you can increase the fee even more. As a result, both your earnings increase and the pressure on miners increases. It will be good for us both ways.
We will also have a group meeting about all this.

It may be more difficult of course, but no decentralized money should have a centralized power.
We can’t build money on probabilities. Investors can avoid these situations because an attack can make all their investments go to waste. That’s why we need to minimize risk as much as possible.
Ipollo is doing its best to increase network power. Let’s try to make this distribution decentralized. Only in this way can we all profit.

Also, I have another idea in mind. Ipollo can put an informative brochure inside the box of the G1 mini and G1s so that the Grin network is decentralized. In this way, everyone who buys the device is informed about the subject and acts accordingly.
I will contact them as well and it would be nice if one of them joins the group.

1 Like
30

always.vip controls over 90% of hashrate :man_facepalming:
Is there any way of increasing fee to over 5% or do something to really disincentivize miners from joining this pool?

31

Taking it offline for a couple of days would probably drive away many. Even if it is announced and limited to a specific time window.

1 Like
32

At least always vip runs 2 servers, this reduces the risk somewhat for the time being.
Are the miners equally distributed over the two servers?, if one has the majority of the miners, this would still be a problem.
Not sure why always vip is so in demand, because of easy transfer to gate.io, you probably know @DQF? If so, cloning always vip on another server, possibly alternative name, would also be a solution.

33

No. This is a dangerous method. Because the sudden network power drop when the pool is closed sets the stage for a 51% attack. The team that intends to attack can prepare for the closing date.

There has been a slight trend towards 2miners after the fee climbed to 3.6%. But that’s not enough, more is needed.

1 Like
34

Actually they just have 1 node. 1 node for USA 1 node for CHINA. Probably, 99% of miners are on CHINA node as I don’t think they will have miners from USA. So the risk is not low.

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Cloning the pool is not the solution. Distributing into pools of completely different administrations ensures decentralization.
Because today, the pool owner can hand over the management of the pool to bad hands, thanks to threats and blackmail. So, It’s not just about a hack. Threats and blackmail should also be considered.
Cloning will only work if someone new, opens a new pool with Chinese language support and support for transfer to Gate.io.

35

@DQF Would it be possible to add a second node for China? Just a clone but with different address.

One way you could motivate people to move there is by having a slightly lower pool fee for the second server, e.g. 3% versus 5%, as soon as the ratio of Chinese miners is becoming more 50% 50%, you could increase the pool fee again.
This is just an idea, not sure it this would help, I do think it might lower the risk somewhat in the immediate short term. Long term, we do need more pools.

36

No @Anynomous. It must be a completely different management. Cloning his own pool with a different address is not the solution. It will still involves high risk.

Here is my new thought:
Always.vip will raise the fee once again. This time it should be 5%.
Next, 2miners and Grinmint will have Memo setup for direct transfer to Gate.io. Also, Grinmint will have Chinese language support. And also, if grinmint network hash increases, it may publish a post about fee may decrease.
If all this is done, after 1 month we can see all the network power spreaded.
However, this is not enough to say. Grinmint and 2miners should work quickly. I’m in contact with the 2miners CTO, but Grinmint needs to do something quickly.

37

Always.vip has more than 3 nodes, no one has 50+% hash.

We helped them to do this months ago.

2 Likes
38

The last solution would be implementing the same way of transactions to gate.io on grinmint and other pools OR pushing other exchanges toward opening deposit/withdrawal to let the standard automated way of transacting happen.

39

Just a short statement, from me who is currently in negotiations with BlockCypher for https://grinmint.com/ to become a GRIN community mining pool, who will support the GRIN community. :slight_smile:

Currently we as a GRIN community are in communication with different big Exchanges and help them implement GRIN correctly or re-activate GRIN deposit/withdraw.

If gate.io needs help, implementing GRIN slatepacks, they can reach out to the GRIN community, or even me and I can get everyone together to help them.

Edit:
As a good reference example https://tradeogre.com/ did implement GRIN slatepacks correctly and its working fine since GRIN moved to slatepacks.

11 Likes
40

Grinmint pool, as stated by @mcm-mike stated that Gate.io’s Grin transfer method is not suitable and announced that they will not support this money transfer method.

While they’re right about it, this doesn’t solve Grin’s network power centralization problem. Because apparently Chinese miners are having problems with the Tradeogre exchange and Tor. Also, since they need CNY directly, Gate.io exchange is the most ideal option for them.
We cannot blame the miners because I know the miners very well. Miners are usually made up of ignorant people. Because their only thought is to make money with devices. They don’t think about the subject, they don’t do much research. They hear about the profit and get down to business. If they had known, this would not have happened.

Therefore, we must continue to be determined to turn this crisis into a solution.
I informed the 2miners pool for this and they started working on it. If they can adjust the memo, with 1% commission rates, the transition from always.vip to 2miners could be speeded up. It is also an added advantage that 2miners has Chinese language support.

1 Like