Happy halving day

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Bitcoin Oz:
Quote from: kano on November 28, 2012, 08:44:16 PM

Heh amazing how the block rate has increased.
You'd think ASIC was up and running - but not a sign of it from any one of the big 4 working on it :P
(BFL, bASIC, Avalon, ASICMINER)

Yeah 210000 was 38.5 BTC
The next 2 were 25.5 BTC so not too shabby either.

So looking at my guesses - not a single one correct for the final time but all the diff changes before it were fine :)

The actual final time simply kept get earlier and earlier as the block rate kept increasing.
The block rate really has jumped up and it has been since the last difficulty change in the 337 blocks up to halving.

So some amazing block counts as at right now - block 210040
last 144 blocks (usually 1 day) average: 7m 37.65s +31.10%
last 288 blocks (usually 2 days) average: 8m 39.24s +15.55%
last 432 blocks (usually 3 days) average: 8m 55.30s +12.09%

And of course the last 2 difficulty changes were 2.08% and 1.9% so either amazing luck changes since those small diff changes or more likely the network hash rate has really gone up quite noticeably in the last few days.

I guess we'll see again in the next few days.

Edit: and note I specifically say 'block rate' not hash rate.
Although everyone likes to call it the network hash rate, it actually is simply a calculation based purely on the block rate.
Although that is not a too inaccurate estimation of the network hashrate - it is only an estimation - since it is random statistics we are dealing with and even a '2 week' 2016 sample is not overly accurate ... (1 day samples and graphs showing them as 'hash rate' are almost random numbers IMO)

If the reward has halved does that leave more room for transactions ?

DoomDumas:
I like this one, pretty nice call :)

Quote from: hazek on November 28, 2012, 04:04:26 PM

Someone on reddit posted: Quote

One small integer division for a CPU, one huge leap for mankind.

kano:
Quote from: Bitcoin Oz on November 29, 2012, 01:09:42 AM

Quote from: kano on November 28, 2012, 08:44:16 PM

...

If the reward has halved does that leave more room for transactions ?

No - it's just a number in the coinbase transaction

Though if the block rate dropped that would be the opposite - more txns available per block (so less space)

BkkCoins:
Quote from: DoomDumas on November 29, 2012, 01:14:57 AM

I like this one, pretty nice call :)

Quote from: hazek on November 28, 2012, 04:04:26 PM

Someone on reddit posted: Quote

One small integer division for a CPU, one huge leap for mankind.

It's good but not strictly accurate. No integer division is done per se, but the equivalent.
That is the subsidy amount starts at 50 and is right shifted one bit for each multiple of 210000 of the block height. So I guess the block height is divided but not the subsidy. A right shift of one bit is the same as dividing by two, a special case.

Maybe,

One right shift for a CPU, one huge leap for mankind.

🏰 TradeFortress 🏰:
Quote from: DeathAndTaxes on November 28, 2012, 04:51:11 PM

Happy halving day everyone. In 30 or 40 years you can tell all those next generation Bitcoin developers that you have been using Bitcoin so long that when you started blocks had a 50 BTC reward.

It is kinda weird seeing blocks with a 25 BTC subsidy though ...

Yeah :)

I want to have mined a block with a 50 btc reward..

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