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Title: When will the bitcoin block rewards end? Post by: MatthewLM on October 04, 2011, 09:55:04 PM It converges on 21 million but never reaches it. At what reward does it end? Does the rewards get less and less forever or is there a point when it drops to zero?
Title: Re: When will the bitcoin block rewards end? Post by: Stephen Gornick on October 04, 2011, 11:08:42 PM Quote How does the halving work when the number gets really small? - http://en.bitcoin.it/wiki/FAQ#How_are_new_Bitcoins_created.3FThe reward will go from 0.00000001 BTC to 0. Then no more coins will likely be created. The calculation is done as a right bitwise shift of a 64-bit signed integer, which means it is divided by 2 and rounded down. The integer is equal to the value in BTC * 100,000,000. This is how all Bitcoin balances/values are stored internally. Keep in mind that using current rules this will take nearly 100 years before it becomes an issue and Bitcoins may change considerably before that happens. And here is what that looks like: https://en.bitcoin.it/w/images/en/e/e3/Total_bitcoins_over_time_graph.png (http://en.bitcoin.it/wiki/File:Total_bitcoins_over_time_graph.png) Title: Re: When will the bitcoin block rewards end? Post by: Tonka Branded Truck on October 05, 2011, 05:03:16 PM Quote How does the halving work when the number gets really small? - http://en.bitcoin.it/wiki/FAQ#How_are_new_Bitcoins_created.3FThe reward will go from 0.00000001 BTC to 0. Then no more coins will likely be created. The calculation is done as a right bitwise shift of a 64-bit signed integer, which means it is divided by 2 and rounded down. The integer is equal to the value in BTC * 100,000,000. This is how all Bitcoin balances/values are stored internally. Keep in mind that using current rules this will take nearly 100 years before it becomes an issue and Bitcoins may change considerably before that happens. And here is what that looks like: https://en.bitcoin.it/w/images/en/e/e3/Total_bitcoins_over_time_graph.png (http://en.bitcoin.it/wiki/File:Total_bitcoins_over_time_graph.png) Title: Re: When will the bitcoin block rewards end? Post by: bracek on October 05, 2011, 06:07:15 PM when will the last "whole" bitcoin be mined ?
that one will have the numismatic value also 50 btc per block 25 btc pb 12.5 btc pb 6.25 btc pb 3.125 btc pb 1.5625 btc pb so question is what will be the block count of the last 1.5625 BTC reward Title: Re: When will the bitcoin block rewards end? Post by: MatthewLM on October 05, 2011, 06:07:39 PM Thanks but will the rewards continue forever but just get smaller and smaller until they go under one Satoshi?
Title: Re: When will the bitcoin block rewards end? Post by: D.H. on October 05, 2011, 06:15:25 PM Thanks but will the rewards continue forever but just get smaller and smaller until they go under one Satoshi? From the first answer in this thread: Quote How does the halving work when the number gets really small? The reward will go from 0.00000001 BTC to 0. Then no more coins will likely be created. Title: Re: When will the bitcoin block rewards end? Post by: MoonShadow on October 05, 2011, 06:19:46 PM Thanks but will the rewards continue forever but just get smaller and smaller until they go under one Satoshi? If the current 64 bit integer model remains intact until 2133 (very unlikely) than no, the reward will actually cease. If the integer is either switched to a 128 bit integer or some other method of recognizing additional bits is devised, then the halving could continue, but the reward will continue to dwindle as it approaches the 21 million bitcoin limit. It can never reach it, no matter how long the block reward continues. |
