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Author Topic: Happy halving day  (Read 27759 times)
Come-from-Beyond
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October 23, 2012, 07:00:41 PM
 #41

Block 0 had 50, but they weren't spendable, correct? So 210000 will have 25 reward.

That 50 unspendable in Satoshi's client, but other client is able to spend them.
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Roy Badami
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October 23, 2012, 07:20:04 PM
 #42

Do we celebrate the last 50 BTC block, or the first 25 BTC block?
Whatever, I stick to the number with the many zeroes. Bitcoiners like zeroes! :-)

The point when the last 50 BTC block is mined is the point at which the game changes, IMO.  From that moment onwards all miners are working for a lower potential reward, regardless of exactly when the first 25 BTC is found.

roy
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November 07, 2012, 08:05:37 AM
 #43

Do we celebrate the last 50 BTC block, or the first 25 BTC block?
Whatever, I stick to the number with the many zeroes. Bitcoiners like zeroes! :-)

The point when the last 50 BTC block is mined is the point at which the game changes, IMO.  From that moment onwards all miners are working for a lower potential reward, regardless of exactly when the first 25 BTC is found.

roy

I agree. The last 50 block is what needs to be celebrated.
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November 07, 2012, 02:30:51 PM
 #44

For me, it's not a celebration unless the Bitcoin price goes up when the block reward drops. My guess is it will go up for a bit and then back down as people that have invested start selling.

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November 07, 2012, 03:12:32 PM
 #45

For me, it's not a celebration unless the Bitcoin price goes up when the block reward drops. My guess is it will go up for a bit and then back down as people that have invested start selling.

..but you do see the significance in this event, no? Bitcoin has little milestones - this one of the huge ones! :-)

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November 07, 2012, 03:23:21 PM
 #46

Followers of the true path of Bitcoin will have their names forever embedded into the Holy Blockchain. Followers of Atlas will be forever rejected as double-spends. May you verifications always be instant.

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November 07, 2012, 03:26:26 PM
 #47

For me, it's not a celebration unless the Bitcoin price goes up when the block reward drops. My guess is it will go up for a bit and then back down as people that have invested start selling.

Why people would start selling after the block reward drops? Does bitcoin will be less reliable? NO.
IMO people will just buy like crazy.

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November 07, 2012, 03:31:20 PM
 #48

For me, it's not a celebration unless the Bitcoin price goes up when the block reward drops. My guess is it will go up for a bit and then back down as people that have invested start selling.

Why people would start selling after the block reward drops? Does bitcoin will be less reliable? NO.
IMO people will just buy like crazy.

Well, in a sense... less resources will be given to secure the chain.

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November 07, 2012, 04:35:55 PM
 #49

For me, it's not a celebration unless the Bitcoin price goes up when the block reward drops. My guess is it will go up for a bit and then back down as people that have invested start selling.

Why people would start selling after the block reward drops? Does bitcoin will be less reliable? NO.
IMO people will just buy like crazy.

Well, in a sense... less resources will be given to secure the chain.

Yes, for a short period of time but I think things will move on with the increasing prices due to the halving.

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November 07, 2012, 07:06:27 PM
 #50

Does anyone has a good guess when it will happen? If it's 6 blocks / hour it should be the 29th in the morning (UTC).


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FreeMoney
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November 07, 2012, 07:32:15 PM
 #51

Does anyone has a good guess when it will happen? If it's 6 blocks / hour it should be the 29th in the morning (UTC).

Wed Nov 28th 7pm ET!

Whenever it is we're ha(l)ving a party at Seals.

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November 07, 2012, 07:34:36 PM
 #52

Bring it on the 25th Nov my 50th birthday. Some nice numbers for me.
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November 07, 2012, 08:10:24 PM
 #53

Does anyone has a good guess when it will happen? If it's 6 blocks / hour it should be the 29th in the morning (UTC).

Throwing a halving party in the morning? Poor neighbors.



Sorry for party rocking. (Never gets old)

Edit:
Changed the previous gif (5.6 MB) to a new lighter one (360 KB):
Link to the old (funnier) gif: http://fc09.deviantart.net/fs70/f/2012/130/9/7/sorry_for_party_rocking_____it__s_a_gif___by_hemmie_3-d4z86p2.gif

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Otoh
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November 07, 2012, 08:26:26 PM
 #54

Does anyone has a good guess when it will happen? If it's 6 blocks / hour it should be the 29th in the morning (UTC).

Wed Nov 28th 7pm ET!

Whenever it is we're ha(l)ving a party at Seals.

2012 11 28 would be cool as it's the full moon for extra emotional intensity & partying, it's also a penumbral lunar eclipse & they don't just happen every day ~ good stuff, it's also my birthday ftw Smiley

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November 08, 2012, 03:00:02 AM
 #55

Hey how accurate is this halving day? I could change by a day or two based on total network speed, right?
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November 08, 2012, 03:01:20 AM
 #56

Hey how accurate is this halving day? I could change by a day or two based on total network speed, right?

Correct.

I believe early on the 29th is if we get 10 minute blocks, but we've actually been getting like 9.6 or something for a while and that would put it earlier.

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odolvlobo
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November 08, 2012, 03:13:24 AM
 #57

You can always get the latest ETA at bitcoinclock.com. It says 11/29, but it assumes 10 minute blocks. It's starting to look like 11/28 in the evening. If ASICs come online before then it will probably be much sooner than that.

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November 08, 2012, 05:30:10 AM
 #58

Yeah try UTC or write GMT+/-N

As for when ... 3 weeks ...

This diff is currently only running 1.9% fast. (with very close to 4.5days to go at 1.9%)

Then 2 weeks with anywhere from -2% to 10% adjustment on that
(well that's what I guess - and in that range my guess is 4%) or between 342.7 hrs and 302.4 hrs or 4% = 322.6 hrs

Then another 337 blocks after that ... I'll go the same range -2% to 10% (and guess 4%) so between 57.3 and 56.6 hrs or 4% = 53.9 hrs

So on those figures - with it now 8-Nov 05:15 UTC (oh another block just came in I'll ignore it Tongue)

I get my guess of: between 29 Nov 9:15 UTC (-2%)  and  27 Nov 16:15 UTC (10%)
Or my 4% guess = 28 Nov 9:45 UTC (4%)

Smiley

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November 08, 2012, 10:22:07 PM
 #59

Yup. Not a currency. A religion.

Bitcoin is great and Satoshi is his prophet.

No, Satoshi is the messiah whose return is eagerly awaited.

True, and when he will finally get caught, sold out by one one of his closets followers for 30 BTC and get killed on a electric chair, this shall be the new symbol of our religion.

[image excluded]

Of course there will always be the one that believe it wasn't the real Satoshi and his return has yet to come.

And the ones believing he got resurrected and ascented into the blockchain, but that are just crazy people.

That's so fxxxxxx funny! Smiley

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November 09, 2012, 01:02:36 AM
 #60

Nice! Smiley

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