Topic: How could Pirate fuck your brains so well that even now many believe in him? - page 2. (Read 10896 times)
August 26, 2012, 04:43:12 PM
I will take dollar denominated bets in Gox USD that pirate repays within 10 days using a willing trusted and reputable escrow only (someone like Vladimir, even though he is of a different opinion). You win if Pirate does not repay within 10 days. PM if interested and we can set it up and determine odds.
August 26, 2012, 04:40:24 PM
BTC owed 500,000
Interest per day BTC 5000
Generated BTC per day 6x24x50 = 7200
So he would only need to generate 69% of all Bitcoins to make good for the interest, without paying back anything of the debt.
Interest per day BTC 5000
Generated BTC per day 6x24x50 = 7200
So he would only need to generate 69% of all Bitcoins to make good for the interest, without paying back anything of the debt.
No, he would only need to generate 51% of all blocks to be able to repay all his debt with 1BTC. 51% with asics is fairly trivial right now.
You keep making these claims. 51% attack doesn't allow you to spend coins which are not yours. So while in theory he could technically repay investors by stealing from them in a 51% attack you couldn't do it with 1 BTC. He would need 550K BTC today and that number is continually increasing by 4 BTC per minute.
I thought he dropped his interest rates and never allowed compounding?
Edit: drank two litres of Tyskie so maybe I need a calculator
August 26, 2012, 04:35:46 PM
BTC owed 500,000
Interest per day BTC 5000
Generated BTC per day 6x24x50 = 7200
So he would only need to generate 69% of all Bitcoins to make good for the interest, without paying back anything of the debt.
Interest per day BTC 5000
Generated BTC per day 6x24x50 = 7200
So he would only need to generate 69% of all Bitcoins to make good for the interest, without paying back anything of the debt.
No, he would only need to generate 51% of all blocks to be able to repay all his debt with 1BTC. 51% with asics is fairly trivial right now.
You keep making these claims. 51% attack doesn't allow you to spend coins which are not yours. So while in theory he could technically repay investors by stealing from them in a 51% attack you couldn't do it with 1 BTC. He would need 550K BTC today and that number is continually increasing by 4 BTC per minute.
August 26, 2012, 04:31:25 PM
BTC owed 500,000
Interest per day BTC 5000
Generated BTC per day 6x24x50 = 7200
So he would only need to generate 69% of all Bitcoins to make good for the interest, without paying back anything of the debt.
Interest per day BTC 5000
Generated BTC per day 6x24x50 = 7200
So he would only need to generate 69% of all Bitcoins to make good for the interest, without paying back anything of the debt.
No, he would only need to generate 51% of all blocks to be able to repay all his debt with 1BTC. 51% with asics is fairly trivial right now.
to what ends?
http://gavintech.blogspot.co.uk/2012/05/neutralizing-51-attack.html
https://en.bitcoin.it/wiki/Attacks#Attacker_has_a_lot_of_computing_power
If a 51% attacker stopped including all broadcast transactions in blocks "we" would quickly figure out a rule or rules to reject their blocks.
Something like "ignore a longer chain orphaning the current best chain if the sum(priorities of transactions included in new chain) is much less than sum(priorities of transactions in the part of the current best chain that would be orphaned)" would mean a 51% attacker would have to have both lots of hashing power AND lots of old, high-priority bitcoins to keep up a transaction-denial-of-service attack. And they'd pretty quickly run out of old, high-priority bitcoins and would be forced to either include other people's transactions or have their chain rejected.
I'm tempted to code that up and run some tests on a testnet-in-a-box, but there are much higher priority things on my TODO list; I don't think a 51% attack is likely. You'd spend a lot of time and money on an attack that "we" would neuter within a day or two.
Something like "ignore a longer chain orphaning the current best chain if the sum(priorities of transactions included in new chain) is much less than sum(priorities of transactions in the part of the current best chain that would be orphaned)" would mean a 51% attacker would have to have both lots of hashing power AND lots of old, high-priority bitcoins to keep up a transaction-denial-of-service attack. And they'd pretty quickly run out of old, high-priority bitcoins and would be forced to either include other people's transactions or have their chain rejected.
I'm tempted to code that up and run some tests on a testnet-in-a-box, but there are much higher priority things on my TODO list; I don't think a 51% attack is likely. You'd spend a lot of time and money on an attack that "we" would neuter within a day or two.
Basically 51% attack is going to be a buying opportunity of a lifetime. Even I under such circumstances would likely get some dry power into exchanges and buy me some bitcoins (for the first time ever).
August 26, 2012, 04:30:28 PM
Aliens... with extraterrestrial quantum computers! I heard they sell them for 500kBTC!
You can do an asic design for considerably less than 500K btc and all it takes is 10 year old cmos technology. No aliens needed.
hm...
BTC owed 500,000
Interest per day BTC 5000
Generated BTC per day 6x24x50 = 7200
So he would only need to generate 69% of all Bitcoins to make good for the interest, without paying back anything of the debt.
I would also point out that was as of the day he shut down. He owes closed to 550K BTC (and 5.5K BTC per day in interest) today. In a month he will owe ~723K BTC and daily interest will be more than the number of coins minted each day.
In a month is three weeks after Pirate repay date. So I don't think anyone will be expecting to be paid.
August 26, 2012, 04:29:00 PM
I think he's going to pay in full with all interest the day that bet he made expires. It's funny this forum as a few months ago anyone who called Pirate a ponzi was belittled and now anyone who say's its not is belittled.
Yeah, paying almost $1 million in interest to spite someone is really worth it...Some people will try to win a bet at any costs. Even if it means shooting yourself in the foot. To win a bet and keep face means a lot more than the prize of the bet to many a man.
What are you talking about. If Pirate pays everyone back he wins the bet. He could have won the bet already by paying everyone back on Friday.
I didn't think the default date had passed.
Pirate wins if he repays. He doesn't need to wait 2 weeks to win the bet. He wins if he repaid on Friday. He wins if he repays today. The sooner he repays he not only still wins but he saves himself half a million in extra interest per week.
August 26, 2012, 04:27:16 PM
Aliens... with extraterrestrial quantum computers! I heard they sell them for 500kBTC!
You can do an asic design for considerably less than 500K btc and all it takes is 10 year old cmos technology. No aliens needed.
hm...
BTC owed 500,000
Interest per day BTC 5000
Generated BTC per day 6x24x50 = 7200
So he would only need to generate 69% of all Bitcoins to make good for the interest, without paying back anything of the debt.
I would also point out that was as of the day he shut down. He owes closed to 550K BTC (and 5.5K BTC per day in interest) today. In a month he will owe ~723K BTC and daily interest will be more than the number of coins minted each day.
August 26, 2012, 04:26:04 PM
I think he's going to pay in full with all interest the day that bet he made expires. It's funny this forum as a few months ago anyone who called Pirate a ponzi was belittled and now anyone who say's its not is belittled.
Yeah, paying almost $1 million in interest to spite someone is really worth it...Some people will try to win a bet at any costs. Even if it means shooting yourself in the foot. To win a bet and keep face means a lot more than the prize of the bet to many a man.
What are you talking about. If Pirate pays everyone back he wins the bet. He could have won the bet already by paying everyone back on Friday.
I didn't think the default date had passed. Anyway I'm not loosing much sleep over it. I only had BTC5.00 in a PPT and made more than the principle in interest payments.
August 26, 2012, 04:23:35 PM
BTC owed 500,000
Interest per day BTC 5000
Generated BTC per day 6x24x50 = 7200
So he would only need to generate 69% of all Bitcoins to make good for the interest, without paying back anything of the debt.
Interest per day BTC 5000
Generated BTC per day 6x24x50 = 7200
So he would only need to generate 69% of all Bitcoins to make good for the interest, without paying back anything of the debt.
No, he would only need to generate 51% of all blocks to be able to repay all his debt with 1BTC. 51% with asics is fairly trivial right now.
August 26, 2012, 04:22:40 PM
I think he's going to pay in full with all interest the day that bet he made expires. It's funny this forum as a few months ago anyone who called Pirate a ponzi was belittled and now anyone who say's its not is belittled.
Yeah, paying almost $1 million in interest to spite someone is really worth it...Some people will try to win a bet at any costs. Even if it means shooting yourself in the foot. To win a bet and keep face means a lot more than the prize of the bet to many a man.
What are you talking about. If Pirate pays everyone back he wins the bet. He could have won the bet already by paying everyone back on Friday.
August 26, 2012, 04:21:22 PM
I think he's going to pay in full with all interest the day that bet he made expires. It's funny this forum as a few months ago anyone who called Pirate a ponzi was belittled and now anyone who say's its not is belittled.
Yeah, paying almost $1 million in interest to spite someone is really worth it...Some people will try to win a bet at any costs. Even if it means shooting yourself in the foot. To win a bet and keep face means a lot more than the prize of the bet to many a man.
August 26, 2012, 04:19:37 PM
I think he's going to pay in full with all interest the day that bet he made expires. It's funny this forum as a few months ago anyone who called Pirate a ponzi was belittled and now anyone who say's its not is belittled.
Yeah, paying almost $1 million in interest to spite someone is really worth it... August 26, 2012, 04:17:08 PM
I think he's going to pay in full with all interest the day that bet he made expires. It's funny this forum as a few months ago anyone who called Pirate a ponzi was belittled and now anyone who say's its not is belittled.
Which day please?
I can't remember the ins-and-outs of the bet. Ask "Vladimir" he was the one who made it with him.
You mean Vandroiy.
Yes maybe
August 26, 2012, 04:14:26 PM
Aliens... with extraterrestrial quantum computers! I heard they sell them for 500kBTC!
You can do an asic design for considerably less than 500K btc and all it takes is 10 year old cmos technology. No aliens needed.
hm...
BTC owed 500,000
Interest per day BTC 5000
Generated BTC per day 6x24x50 = 7200
So he would only need to generate 69% of all Bitcoins to make good for the interest, without paying back anything of the debt.
August 26, 2012, 04:13:35 PM
I think he's going to pay in full with all interest the day that bet he made expires. It's funny this forum as a few months ago anyone who called Pirate a ponzi was belittled and now anyone who say's its not is belittled.
Which day please?
I can't remember the ins-and-outs of the bet. Ask "Vladimir" he was the one who made it with him.
You mean Vandroiy.
August 26, 2012, 04:12:59 PM
I think he's going to pay in full with all interest the day that bet he made expires. It's funny this forum as a few months ago anyone who called Pirate a ponzi was belittled and now anyone who say's its not is belittled.
Which day please?
I can't remember the ins-and-outs of the bet. Ask "Vladimir" he was the one who made it with him.
August 26, 2012, 04:11:21 PM
I think he's going to pay in full with all interest the day that bet he made expires. It's funny this forum as a few months ago anyone who called Pirate a ponzi was belittled and now anyone who say's its not is belittled.
Which day please?
August 26, 2012, 04:07:37 PM
It's funny this forum as a few months ago anyone who called Pirate a ponzi was belittled and now anyone who say's its not is belittled.
This is simply a result of sudden silence (almost) of shills. They are not paid for working weekends or something? Or not paid anymore at all maybe?
August 26, 2012, 04:04:46 PM
I think he's going to pay in full with all interest the day that bet he made expires. It's funny this forum as a few months ago anyone who called Pirate a ponzi was belittled and now anyone who say's its not is belittled.
August 26, 2012, 03:57:57 PM
Pirate did say within two weeks I think to wind it down and it is just the ending of the first week. Maybe Pirate had those two weeks interest payments tailored into his shut down plan accounted for. If he doesn't honour his two week timetable or comes out with more excuses for time well then people should start to really worry stretch to come up with excuses.
FTFY
-MarkM-
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