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keystroke (OP)
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March 30, 2015, 06:55:35 PM |
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14 million coins here we come. Nobody notices in the media because people don't really know about the block reward schedule. It's too technical for most people, despite the fact that the having is such a major economic event. Their loss. Wild parties are brewing on the streets... the countdown has begun... 17 blocks remaining. Remember the bitcoin reaches $1000 party in Germany? Maybe we should have a halving party instead. It can be more or less extravagant depending on the price of the coin at the time.  |
"The difference between a castle and a prison is only a question of who holds the keys."
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Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
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Somekindabitcoin
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March 30, 2015, 06:57:22 PM |
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Well, the halving isn't for another year so. . .
Why not have a 2/3 party?
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gentlemand
Legendary
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Activity: 2590
Merit: 3008
Welt Am Draht
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March 30, 2015, 07:17:38 PM
Last edit: March 30, 2015, 08:21:24 PM by gentlemand |
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Well, the halving isn't for another year so. . .
Why not have a 2/3 party?
There aren't enough tech parties out there. I had a Windows 7 party when it launched. It was a wonderful event that everyone will remember for the rest of their lives. I can't wait for Windows 10. All my friends keep badgering me. We'll check Windows 10 out, do some cake farting and then have a gang bang. https://www.youtube.com/watch?v=1cX4t5-YpHQRemember the bitcoin reaches $1000 party in Germany? Maybe we should have a halving party instead. It can be more or less extravagant depending on the price of the coin at the time. And wasn't that party if it stayed above $1000 for an entire month? I guess it hasn't happened yet. |
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Pushtheghost
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March 30, 2015, 07:19:32 PM |
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350,000 blocks... certainly an achievement. Quite an achievement too. Scary to think that bitcoin has been around for six-seven years though and already two thirds of the coins are in circulation, with only the final third ready to be released over the next 125 years.
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Somekindabitcoin
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March 30, 2015, 07:26:06 PM |
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350,000 blocks... certainly an achievement. Quite an achievement too. Scary to think that bitcoin has been around for six-seven years though and already two thirds of the coins are in circulation, with only the final third ready to be released over the next 125 years.
I think that mining will start running obsolete by 2018 or less. Either the price has to increase, or we have 1w/PH. Otherwise, there will be no one mining those smaller fragments of bitcoin. |
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randy8777
Legendary
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Activity: 896
Merit: 1000
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March 30, 2015, 07:32:09 PM |
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i see people always say one of bitcoin its main advantage is a low fee structure. but how will this still be the case once there is no more btc left to mine which means that the fees must go up significantly if price isn't high enough.
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gentlemand
Legendary
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Activity: 2590
Merit: 3008
Welt Am Draht
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March 30, 2015, 07:39:23 PM |
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i see people always say one of bitcoin its main advantage is a low fee structure. but how will this still be the case once there is no more btc left to mine which means that the fees must go up significantly if price isn't high enough.
The theory is that values and transaction volumes will be considerably higher than they are now. I guess we'll need to assume there'll also be a different generation of machinery that doesn't require constant updating and tons of electricity and cooling. |
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Somekindabitcoin
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March 30, 2015, 07:44:07 PM |
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Well, we may have more efficient nodes which is when it doesn't really matter. You could wake up 3 years from now with a portable node and you've made over 10 btc through fees.
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Lauda
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Activity: 2674
Merit: 2965
Terminated.
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March 30, 2015, 08:18:51 PM |
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14 million coins here we come. Nobody notices in the media because people don't really know about the block reward schedule. It's too technical for most people, despite the fact that the having is such a major economic event. Their loss. Wild parties are brewing on the streets... the countdown has begun... 17 blocks remaining. Remember the bitcoin reaches $1000 party in Germany? Maybe we should have a halving party instead. It can be more or less extravagant depending on the price of the coin at the time. People are more dumb than ever. There is nothing technical about the supply. It's like having 2 apples and adding 5 more in 10 days. Quite simple actually. Looks like 12 more blocks to go. We're going to reach it very soon, although I'll be sleeping by then. We definitely should make something big for the halving. The question is what and where? |
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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Raystonn
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March 30, 2015, 08:59:30 PM |
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349,994
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CryptoCanary
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Activity: 1076
Merit: 1006
Canary in the crypto mine!
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March 30, 2015, 09:02:37 PM |
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349,994
Suspenseful |
Cryptocurrency meets environment
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Raystonn
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March 30, 2015, 09:32:19 PM |
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349,995, and 349,996 just confirmed.
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Meuh6879
Legendary
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Activity: 1512
Merit: 1011
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March 30, 2015, 09:45:37 PM |
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Meuh6879
Legendary
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Activity: 1512
Merit: 1011
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March 30, 2015, 09:47:18 PM |
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People are more dumb than ever. There is nothing technical about the supply.
We are the evolution (of the society). We trust the job of the ledger. We reward miner for the job. We will win at the end (not so far ... now). |
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Raystonn
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March 30, 2015, 09:56:38 PM |
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349,999
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coinableS
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Activity: 1442
Merit: 1179
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March 30, 2015, 09:57:29 PM |
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349999!!  We're almost there. Who's going to get the champagne ready? |
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Meuh6879
Legendary
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Activity: 1512
Merit: 1011
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March 30, 2015, 10:16:52 PM |
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a long one ...
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Raystonn
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March 30, 2015, 10:17:30 PM |
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The Blockchain is such a tease...
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bitkilo
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https://www.bitcoin.com/
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March 30, 2015, 10:18:31 PM
Last edit: March 31, 2015, 04:05:55 AM by bitkilo |
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Not a paid signature, just added to promote Bitcoin.com  |
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Raystonn
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March 30, 2015, 10:18:58 PM |
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Block 350,000 confirmed. 14,000,000 Bitcoins of the total 21,000,000 that will ever exist have now been mined. Only 50% of the current Bitcoin supply can possibly ever be added to the market to dilute existing value.
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coinableS
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March 30, 2015, 10:20:07 PM |
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350,000!!! I'm so happy I could cry!!  |
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Meuh6879
Legendary
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Activity: 1512
Merit: 1011
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March 30, 2015, 10:21:25 PM |
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Oops, a little bug ?   |
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hdbuck
Legendary
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Activity: 1260
Merit: 1002
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March 30, 2015, 10:27:26 PM |
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14 million coins here we come. Nobody notices in the media because people don't really know about the block reward schedule. It's too technical for most people, despite the fact that the having is such a major economic event. Their loss. Wild parties are brewing on the streets... the countdown has begun... 17 blocks remaining. Remember the bitcoin reaches $1000 party in Germany? Maybe we should have a halving party instead. It can be more or less extravagant depending on the price of the coin at the time.  |
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nachoig
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March 30, 2015, 10:34:40 PM |
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Oops, a little bug ? People here are forgetting the block #0. So, the block which bringed the 14 millionth bitcoin is the #349999. |
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Raystonn
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March 30, 2015, 10:36:38 PM |
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I thought the Block 0 mining reward was not spendable?
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Raystonn
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March 30, 2015, 10:50:18 PM |
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Has anyone ever counted the provably-burned coins? |
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hdbuck
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March 30, 2015, 11:06:09 PM |
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Kupsi
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Merit: 1003
9.9.2012: I predict that single digits... <- FAIL
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March 30, 2015, 11:14:01 PM |
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It's only the mining reward that can't be spent. All coins sent there can be spent. |
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gentlemand
Legendary
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Activity: 2590
Merit: 3008
Welt Am Draht
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March 30, 2015, 11:14:46 PM |
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It's only the mining reward that can't be spent. All coins sent there can be spent. Oh. Silly me. I stand corrected. |
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