Coinbase Advance Only supports Limit Orders

[mdr0id]

Howdy,

I was looking through the order pairs on coinbase advanced and notice they only support limit orders for btc or usd to ZEC. Just thought someone would like to know as it seems like a regression from the original implementation on cb advance, but could be wrong.

[aquietinvestor]

Here’s the background on why Coinbase currently only supports limit orders for ZEC:

Mining pool ViaBTC controls over 51% of Zcash hash rate

Here’s a summary of what @Beth and I are doing to address it:

Mining issue. Serious

@Beth and I have been working with Coinbase and various mining pools to try and resolve this issue. Here’s where we currently stand: We spoke with ViaBTC, and unfortunately they say there’s not a lot they can do because they don’t run Zcash miners themselves and don’t want to tell their clients to move to other pools because it might negatively impact their revenues. We have also been reaching out to other mining pools to determine how to address and resolve this issue. So far, in additio…

Over the past few days, ViaBTC’s share has remained consistently under 51%, based on the data they provide for the last 1,000 blocks. Hopefully this trend continues. Coinbase has not specified an exact duration for ViaBTC to maintain a hashrate below 51% before resuming market orders; they have only indicated it needs to be sustained for “a period of time.”

Here’s the link to monitor the hashrate distribution: Zcash (ZEC) Equihash | Mining Pools

[mdr0id]

Ah makes sense. I thought this had been resolved. Apologies.

[dismad]

@aquietinvestor

it needs to be sustained for “a period of time.”

Any change/updates here? It’s been a year already

[aquietinvestor]

Unfortunately, the mining pool centralization issue has not improved. You can see the stats here:

Zcash (ZEC) Equihash | Mining Pools

The relevant chart reflects the last 1,000 blocks, which shows ViaBTC at 61.9%.

A couple of months ago, Zooko and I spoke with a mining pool that is working on launching a new Zcash pool that they say will rectify this issue. We’ve reached out for updates, but there hasn’t been a clear indication of when it will launch.

[tokidoki]

The situation has not improved, ViaBTC is producing 2/3 of blocks. At this point, I believe all Zcash communication channel should release a PSA on not mining through ViaBTC.

[Shawn]

Yes, it’s gotten worse since the halving.

Why this isn’t more of a priority is beyond me. Any other network and there would be panic in the room.

We should be considering defensive maneuvers including an algorithm change if we can’t fix it with diplomacy.

[joshs]

ViaBTC and a large amount of hash through them asserts it’s a non-issue because an attack would be counter productive. It also includes solo miners (which aren’t shown in the aggregated hash but do reflect in the block distribution).

Unfortunately, the incentives at ViaBTC are better for some larger miners, which is why things are stacked the way they are.

I’ll follow-up again this week but don’t see an easy path at the moment.