Post
Topic
Board Bitcoin Discussion
Re: Satoshi's Fortune lower bound is 100M USD
by
Etlase2
on 15/04/2013, 04:48:56 UTC
We can't tell if the timestamps are reliable or not.

Over what range would you feel comfortable assessing the hashing power of the network? 100 blocks? 1,000? From blocks 1-1,000, there was a duration of 10 days, 3 hours, 40 minutes, and 18 seconds. 14,620 minutes. That's 14.62 minutes per block, or an equivalent of 4-5Mh/s.

You know what, forget it. Sergio derailed this thread from the start with the sensationalist headline and a poorly spoken OP. The pseudonymity of bitcoin allows you guys to counter virtually everything in regards to how much limited cryptocurrency is in the hands of a very small group of people and encourage everyone to rush headlong into this wonderful new system.

Quote
And they were, compared to current software on current hardware Sergio spent a lot of time here arguing about numbers like 7.5MH/s on a single desktop. It's _laughable_.

Again with the sleight of words. He did not ever argue 7.5Mh/s on a single desktop. It is not unfathomable for the person or group that is satoshi to have multiple and likely high-end machines. Plus it would make sense to have several locations operating for better network boostrapping. This is common sense. If bitcoin was mined at a rate of approximately 4 contemporary PCs, occam's razor would suggest that satoshi was running it mostly by himself, unless you want to argue that the creator may just well have abandoned mining.

The distinction here is you are trying encourage the thinking of perhaps 40-50 PCs mining, oh so decentralized, when the reality was more likely 4-5 PCs. Hard to prove though! Especially with your 47kh/s anecdote.