On 05/17/11 17:01, Srini RamaKrishnan wrote:

On Tue, May 17, 2011 at 1:09 PM, Alaric Snell-Pym <alaric@snell-pym.org.uk> 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 <a href="http://leitl.org">leitl</a> 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