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Author Topic: 81 days until bitcoin block = 25 bitcoins  (Read 2066 times)
smoothie
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September 10, 2012, 08:29:20 PM
 #1

81 days or so and counting...

http://bitcoinclock.com/

███████████████████████████████████████

            ,╓p@@███████@╗╖,           
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  ,████²█████████████████████████████, 
 ,█████  ╙████████████████████╨  █████y
 ██████    `████████████████`    ██████
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███████         ╩██████Ñ         ███████
███████    ▐▄     ²██╩     a▌    ███████
╢██████    ▐▓█▄          ▄█▓▌    ███████
 ██████    ▐▓▓▓▓▌,     ▄█▓▓▓▌    ██████─
           ▐▓▓▓▓▓▓█,,▄▓▓▓▓▓▓▌          
           ▐▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌          
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        ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀       
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September 10, 2012, 09:49:20 PM
 #2

The Daaash for ______   ____  Cheesy
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September 10, 2012, 09:54:28 PM
 #3

Who else is going to organize a Blockchain Party? We'll have one in Finland for sure. This is a monumental change for Bitcoin. It's less than 3 months away now.

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September 10, 2012, 10:20:50 PM
 #4

Who else is going to organize a Blockchain Party? We'll have one in Finland for sure. This is a monumental change for Bitcoin. It's less than 3 months away now.
"Tonight we're gonna party like it's block 209999"  Cheesy

I know this because Tyler knows this.
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September 10, 2012, 10:45:14 PM
 #5

81 days or so and counting...

http://bitcoinclock.com/
Another POS website using times with no timezone specified.  At least this one looks like GMT.
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September 10, 2012, 10:57:35 PM
 #6

81 days or so and counting...

http://bitcoinclock.com/
Another POS website using times with no timezone specified.  At least this one looks like GMT.

It only uses local time in one spot, the majority of it's function is intact.  Still, it would be good to specify.  It does not earn POS for that one detail.

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September 10, 2012, 11:11:04 PM
 #7

Bitcoin Max is no longer live. Dead ad space.

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September 11, 2012, 01:02:30 AM
 #8

what's going to happen? do all the miners stop mining because of the lessened reward at that point?
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September 11, 2012, 01:24:02 AM
 #9

81 days or so and counting...

http://bitcoinclock.com/
Another POS website using times with no timezone specified.  At least this one looks like GMT.

It only uses local time in one spot, the majority of it's function is intact.  Still, it would be good to specify.  It does not earn POS for that one detail.

i wonder where it uses local time... should be UTC everywhere... will remove the old ad and update the site tonight.

edit: i decided to auction off 30 days' worth on that banner space: https://bitcointalk.org/index.php?topic=108517  ...low reserve.
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September 11, 2012, 01:48:14 AM
 #10

what's going to happen? do all the miners stop mining because of the lessened reward at that point?
hope not, no miners = no Bitcoin
it is not like this is a surprise, the reward halving is part of how Bitcoin works
though if you explore the forums further you will find there are many different plans to "cope" with this.

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September 11, 2012, 01:52:27 AM
 #11

what's going to happen? do all the miners stop mining because of the lessened reward at that point?
hope not, no miners = no Bitcoin
it is not like this is a surprise, the reward halving is part of how Bitcoin works
though if you explore the forums further you will find there are many different plans to "cope" with this.

Just need to double the price. Get your bid walls up bros, here comes $20.

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September 11, 2012, 01:55:46 AM
 #12

what's going to happen? do all the miners stop mining because of the lessened reward at that point?
hope not, no miners = no Bitcoin
it is not like this is a surprise, the reward halving is part of how Bitcoin works
though if you explore the forums further you will find there are many different plans to "cope" with this.

Turning off miners is something you need to do.  Most people will not turn them off right away.  It will half the profit in mining, throwing many miners into losses after power.  That does not mean that everyone who is losing money will shut down.  Some people just like to mine!  Others would not repair miners that fail as they are profitable so there will be a slow decline there.  

Price is a different matter..... Price may rise or the market may have accounted for it already.  Who knows!

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September 11, 2012, 01:59:56 AM
 #13

what's going to happen? do all the miners stop mining because of the lessened reward at that point?
hope not, no miners = no Bitcoin
it is not like this is a surprise, the reward halving is part of how Bitcoin works
though if you explore the forums further you will find there are many different plans to "cope" with this.

Turning off miners is something you need to do.  Most people will not turn them off right away.  It will half the profit in mining, throwing many miners into losses after power.  That does not mean that everyone who is losing money will shut down.  Some people just like to mine!  Others would not repair miners that fail as they are profitable so there will be a slow decline there.  

Price is a different matter..... Price may rise or the market may have accounted for it already.  Who knows!
and many miners have invested in less power hungry hashing hardware,

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September 11, 2012, 02:06:24 AM
 #14

If everyone turns off I'll CPU mine and get all the coins!

It's a self balancing system. Worst case imo is waiting 20 minutes for blocks for a little while.

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September 11, 2012, 02:09:50 AM
 #15

If everyone turns off I'll CPU mine and get all the coins!

It's a self balancing system. Worst case imo is waiting 20 minutes for blocks for a little while.
True but I doubt even that will happen.  We might lose 20% off the top at the most.  Block times may go to 14 mins average for two weeks then normalize.  If the price rises even that might not happen. 

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September 11, 2012, 02:20:16 AM
 #16

If everyone turns off I'll CPU mine and get all the coins!

It's a self balancing system. Worst case imo is waiting 20 minutes for blocks for a little while.
True but I doubt even that will happen.  We might lose 20% off the top at the most.  Block times may go to 14 mins average for two weeks then normalize.  If the price rises even that might not happen. 
and if asics (more than 1 manufacturer offering now) appears about the same time we could be looking at 7minute blocks for a couple of difficulty periods before it stabilises.

No one has been part of a block reward halving for a cryptocurrency before - all anyone can do is speculate - asics appearing adds more variables, plenty of opinions but no facts.
good luck in your quest
I'm going to be participating - see how we go eh Cheesy

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September 11, 2012, 02:23:26 AM
 #17

The Daaash for ______   ____  Cheesy

So was this the two blanks you were referencing? I was talking about the one in your thread, the first one. Cheesy

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           ▐▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌          
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     ²▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓╩    
        ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀       
           ²▀▀▓▓▓▓▓▓▓▓▓▓▓▓▀▀`          
                   ²²²                 
███████████████████████████████████████

. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.        SMOOTHIE'S HEALTH AND FITNESS JOURNAL          History of Monero development Visualization ★☆ .
LEALANA  PHYSICAL MONERO COINS 999 FINE SILVER.
 
smoothie
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September 11, 2012, 02:24:04 AM
 #18

Who else is going to organize a Blockchain Party? We'll have one in Finland for sure. This is a monumental change for Bitcoin. It's less than 3 months away now.
"Tonight we're gonna party like it's block 209999"  Cheesy

I LOLed

209999

███████████████████████████████████████

            ,╓p@@███████@╗╖,           
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 ██████    ▐▓▓▓▓▌,     ▄█▓▓▓▌    ██████─
           ▐▓▓▓▓▓▓█,,▄▓▓▓▓▓▓▌          
           ▐▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌          
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     ²▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓╩    
        ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀       
           ²▀▀▓▓▓▓▓▓▓▓▓▓▓▓▀▀`          
                   ²²²                 
███████████████████████████████████████

. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.        SMOOTHIE'S HEALTH AND FITNESS JOURNAL          History of Monero development Visualization ★☆ .
LEALANA  PHYSICAL MONERO COINS 999 FINE SILVER.
 
smoothie
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September 11, 2012, 02:27:05 AM
 #19

If everyone turns off I'll CPU mine and get all the coins!

It's a self balancing system. Worst case imo is waiting 20 minutes for blocks for a little while.
True but I doubt even that will happen.  We might lose 20% off the top at the most.  Block times may go to 14 mins average for two weeks then normalize.  If the price rises even that might not happen. 
and if asics (more than 1 manufacturer offering now) appears about the same time we could be looking at 7minute blocks for a couple of difficulty periods before it stabilises.

No one has been part of a block reward halving for a cryptocurrency before - all anyone can do is speculate - asics appearing adds more variables, plenty of opinions but no facts.
good luck in your quest
I'm going to be participating - see how we go eh Cheesy

I see an acceleration in price and difficulty. I don't believe the price will stay down at $10 when BFL is selling 1TH/s rigs. Ridiculous.

███████████████████████████████████████

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███████    ▐▄     ²██╩     a▌    ███████
╢██████    ▐▓█▄          ▄█▓▌    ███████
 ██████    ▐▓▓▓▓▌,     ▄█▓▓▓▌    ██████─
           ▐▓▓▓▓▓▓█,,▄▓▓▓▓▓▓▌          
           ▐▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌          
    ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓─  
     ²▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓╩    
        ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀       
           ²▀▀▓▓▓▓▓▓▓▓▓▓▓▓▀▀`          
                   ²²²                 
███████████████████████████████████████

. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.        SMOOTHIE'S HEALTH AND FITNESS JOURNAL          History of Monero development Visualization ★☆ .
LEALANA  PHYSICAL MONERO COINS 999 FINE SILVER.
 
cypherdoc
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September 11, 2012, 02:30:40 AM
 #20

The Daaash for ______   ____  Cheesy

So was this the two blanks you were referencing? I was talking about the one in your thread, the first one. Cheesy

all of them.  Wink
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