From alaric@snell-pym.org.uk Fri Jul 6 02:36:02 2018 From: Alaric Snell-Pym To: cypherpunks-legacy@lists.cpunks.org Subject: Re: [silk] Bitcoin Date: Fri, 06 Jul 2018 02:36:02 +0000 Message-ID: <172289268266.3881296.7728936675404145256.generated@mail.pglaf.org> MIME-Version: 1.0 Content-Type: multipart/mixed; boundary="===============1975314792917746049==" --===============1975314792917746049== Content-Type: text/plain; charset="utf-8" Content-Transfer-Encoding: 7bit On 05/17/11 17:01, Srini RamaKrishnan wrote: > On Tue, May 17, 2011 at 1:09 PM, Alaric Snell-Pym > wrote: >> Currently, the bitcoin network produces about 1.5 trillion hashes per >> second, total. So somebody managing a billion a second, in a mining >> pool, earns about a 1500th of the total "income" of new bitcoin - 50 >> every ten minutes... > > Wait, it doesn't work like this? > > http://xkcd.com/538/ > Alas no! The design of the system is all about global consensus - more than 50% of the hashing capacity needs to agree for stuff to happen. There's nobody to whack with a wrench - it'd cost more to go and whack each pimply nerd with a basement full of computers than to just buy more computers ;-) ABS -- Alaric Snell-Pym http://www.snell-pym.org.uk/alaric/ ----- End forwarded message ----- -- Eugen* Leitl leitl http://leitl.org ______________________________________________________________ ICBM: 48.07100, 11.36820 http://www.ativel.com http://postbiota.org 8B29F6BE: 099D 78BA 2FD3 B014 B08A 7779 75B0 2443 8B29 F6BE --===============1975314792917746049==--