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Celerity

(54,450 posts)
29. yes, malware can steal processing power, but that is illegal, Musk is not doing to attach malware to
Tue Apr 26, 2022, 12:24 AM
Apr 2022

the Twitter network (it would be found quickly) as it would quickly degrade performance and he would be ruined (and in a lot of legal trouble as well) once it was discovered he was doing it. The 1000's of network engineers and network admins at Twitter could never engage in such a mass conspiracy, many would quickly whistleblow.

Also do the maths.

There are only around 1.97 million (out of the total 21 million ever possible (at current rates the last bitcoin will be mined in 2140, so 118 years from now, so unless I live to be 144 years of age, I am not going to see that, lol), with 5 to 7 million of the 21m lost forever due non availability for a multiplicity of reasons, ie death, lost passwords, destroyed hard drives, etc etc) left to be mined

As the supply of unmined BTC goes down, the harder it gets to mine (the system adjusts the complexity of the computations (called proof of work ie PoW) needed to mine a new block to keep new block creation in a balanced state).

The difficulty level for mining in March 2022 was 27.55 trillion. That is, the chances of a computer producing a hash below the target is 1 in 27.55 trillion. To put that in perspective, you are about 91,655 times more likely to win the Powerball jackpot with a single lottery ticket than you are to pick the correct hash on a single try.

There are also millions of other people trying to mine.

At current valuation, even IF Musk was able to mine half of all remaining BTC (basically impossible and would take YEARS, but I will use that figure for my example), the value of that 1 million BTC is LESS (around 40 billion USD) than what he is paying for Twitter itself.

Even if BTC increases by 250%, and hits 100K usd per BTC, you are talking 100 billion usd total value, or only around 29% of what Musk was worth at peak a while back, on November 4, 2021 (340 billion usd, which made him the richest person ever in modern times, passing John D. Rockefeller's inflation adjusted peak net worth)

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New rename twikkker kimbutgar Apr 2022 #1
Or a muskerfuck? Wounded Bear Apr 2022 #2
If musk is allowed to buy Twitter every decent person on earth MUST remove themselves from Eliot Rosewater Apr 2022 #3
I'm already out but I agree. onecaliberal Apr 2022 #4
Legit question, not having a laugh. What will happen to tweets that are posted here? Celerity Apr 2022 #5
What will happen, nothing will happen Eliot Rosewater Apr 2022 #6
It'll be like Fecesbook. FoxNewsSucks Apr 2022 #9
I disagree. A lot of people will leave rockfordfile Apr 2022 #11
This Post Is Correct On So Many Levels nt SoCalDavidS Apr 2022 #23
I hate the tweets usonian Apr 2022 #7
that is not how crypto and blockchain tech work Celerity Apr 2022 #17
Well, I got the impression that you can be hijacked to mine bitcoin usonian Apr 2022 #27
yes, malware can steal processing power, but that is illegal, Musk is not doing to attach malware to Celerity Apr 2022 #29
There goes 50% of posts Tree-Hugger Apr 2022 #8
I'll admit I often get a laugh, FoxNewsSucks Apr 2022 #10
Oh...same Tree-Hugger Apr 2022 #16
I wish there was a wealth cap I_UndergroundPanther Apr 2022 #22
Multiple links have been going around showing users how to download their twitter Archive. rogue emissary Apr 2022 #12
What happened here before Twitter? I'd argue that it might improve things. Scrivener7 Apr 2022 #14
I have only been on DU since mid 2018, so do not know the dynamics of DU before Twitter Celerity Apr 2022 #24
I'm here since 2012. Twitter was not linked very much at all in my first years here. Scrivener7 Apr 2022 #25
Deactivating my account tomorrow morning. JarOCats Apr 2022 #13
Where are you going, if you don't mind me asking? dixiechiken1 Apr 2022 #20
Counter.social... JarOCats Apr 2022 #26
Okay, cool. They must be getting absolutely HAMMERED with new registrations... dixiechiken1 Apr 2022 #30
They are. Hang in there! JarOCats Apr 2022 #31
I have to admit that I'd love to see Twitter go dumpster fire. SYFROYH Apr 2022 #15
It's run by VanGuard, Blackrock, Morgan Stanley, etc., now. I'm not convinced it will be worse. Hoyt Apr 2022 #18
Rumor has it (if they can do it, I can do it) is he is looking at a multi-tier user fee, Midnight Writer Apr 2022 #19
I only use twitter for Jerry2144 Apr 2022 #21
Remember Geocities? LiveJournal? Myspace? Pow Wow? ICQ? blogslug Apr 2022 #28
Why, I remember Compu$erve... JarOCats Apr 2022 #32
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