'Faketoshi' Craig Wright Fails Bitcoin Block Calculations

Craig Wright, an Australian computer scientist and self-proclaimed creator of Bitcoin, took to Twitter Aug. 28 to state miners unable to mine 32 MB Bitcoin blocks deserve to "Go bankrupt."

In his tweet, Wright claimed an antiqued 56 Kbps router was enough to download 32 MB blocks in 10 minutes.

If a pool cannot mine a minor 32mb block and tries to hobble scaling to subsidise their failure, they deserve to be bankrupt.

The Bitcoin Cash advocate also took the chance to mention the prowess of the monopolized and controversial hard fork, stating "Scaling is happening in #BCH," and implying his choice of digital currency solves Bitcoin's problem.

A comical tweet-war ensued, with several crypto-enthusiasts rattling off their calculations and understanding of the Bitcoin protocol.

Personalities like Emin Gun Sirer, a well-known distributed technology researcher and Cornell University professor, joined in the public display of math calculations.

Sirer pointed out Wright's hypothesis of using a 56k modem would take up to 76 minutes to download a 32Mb block, which indicates a value eight times larger than Wright's calculation.

He cannot calculate how long a block will take to download. 32MB at 56kbps will take 76 minutes, not 9.5.

To the dismay of those backing the Cornell professor, Sirer's calculations also turned out to be faulty.

According to Schwartz's math, a 56K model would take approximately 80 minutes to complete the computation of a 32 MB block.