Nenolod, the guy that wants to prove Bitcoin doesn't work.
So this guy has about 1000 cores generating bitcoins. About 10% of the total amount fo BTC. His name is William Pitock aka Nenolod http://twitter.com/nenolod
What do you think? If he cannot prove the system isn’t sustainable, he wins, because he will have lots of bitcoins. If he does, we all loose.
I hope he will post here, as we discuss HIS ACTIONS and not HIS PERSON. Also, I hope he will pay me 31337 bitcoins at this address 1EZdM6HBRn4BQNa2Bqcyh47fQWYFS5Ujr3 so I can prove him he’s wrong.
Please discuss the issue.
I wonder how much he spends for using these 1000 cores… Because the price of bitcoins you get is NOT much larger than price you have to pay to generate them.
Nenolod, you’re welcome to join this forum or #bitcoin-dev on Freenode. It would be interesting to have a chat with you.
BTW, Nenolod writes on Twitter:
He hasn’t sold anything at BitcoinExchange.com and the service is down just for technical maintenance. Should be up today or tomorrow. Maybe he meant that 1500 � was the rate for the 84,732 BTC he supposedly has.
If he was generating one block per minute before the difficulty increase that would mean he is actually representing more than 50% of bitcoin’s CPU power. Actually, rather nearly all of it.
0.3.2 has some security safeguards to lock in the block chain up to this point and limit the damage a little if someone gets 50%.
But if someone has 50%+ of the CPU power and malicious intent, they can prove what it already says in the design document.
Quote from: wobber on July 17, 2010, 01:21:16 PM
So this guy has about 1000 cores generating bitcoins. About 10% of the total amount fo BTC. His name is William Pitock aka Nenolod http://twitter.com/nenolod
What do you think? If he cannot prove the system isn’t sustainable, he wins, because he will have lots of bitcoins. If he does, we all loose.
I hope he will post here, as we discuss HIS ACTIONS and not HIS PERSON. Also, I hope he will pay me 31337 bitcoins at this address 1EZdM6HBRn4BQNa2Bqcyh47fQWYFS5Ujr3 so I can prove him he’s wrong.
Please discuss the issue.
I’m 100% certain that he isn’t really generating that much and I’ll leave it at that.
Quote from: knightmb on July 18, 2010, 08:11:19 AM
Quote from: wobber on July 17, 2010, 01:21:16 PM
So this guy has about 1000 cores generating bitcoins. About 10% of the total amount fo BTC. His name is William Pitock aka Nenolod http://twitter.com/nenolod
What do you think? If he cannot prove the system isn’t sustainable, he wins, because he will have lots of bitcoins. If he does, we all loose.
I hope he will post here, as we discuss HIS ACTIONS and not HIS PERSON. Also, I hope he will pay me 31337 bitcoins at this address 1EZdM6HBRn4BQNa2Bqcyh47fQWYFS5Ujr3 so I can prove him he’s wrong.
Please discuss the issue.
I’m 100% certain that he isn’t really generating that much and I’ll leave it at that.
I agree, there are many things about his statements which don’t seem to be in line with reality. In particular his quoted generation rates are not divisible by 50.
when you modulo-devide it trough 50, the rest could be from transaction fee, he’s running ~1000 instances (or at least cores) of bitcoin, so the probability of him getting transaction fees is very high.
Quote from: SmokeTooMuch on July 18, 2010, 07:53:18 PM
when you modulo-devide it trough 50, the rest could be from transaction fee, he’`s running ~1000 instances (or at least cores) of bitcoin, so the probability of he getting transaction fees is very high.
What amount does one have to send to incur a transaction fee though? I’ve send some large amounts around myself and never saw a fee?
Typically, over 25,000 BTC.