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Author Topic: Happy halving day  (Read 28289 times)
World
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November 29, 2012, 04:18:18 PM
 #341

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 Smiley

I want to have mined a block with a 50 btc reward..
interesting chart but there is a long way to go yet
Network Deficit

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November 29, 2012, 07:22:51 PM
 #342

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 Smiley

I want to have mined a block with a 50 btc reward..
interesting chart but there is a long way to go yet
Network Deficit


I don't understand what that chart is trying to tell me.  What is the "network deficit"?

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

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November 29, 2012, 10:15:07 PM
 #343

I don't understand what that chart is trying to tell me.  What is the "network deficit"?

It shows how much miners would earn if the block reward was 0 BTC (not 25 as currently). It's supposed that in the future miner's income will be mainly tx fees. The fees will cover expenses for mining (electricity). Now most of the miners would switch their hardware off if there was no 25 BTC given each block. Bitcoin will survive only if its price or fees will be high enough to cover expenses. If this doesn't happen then only a few computers will mine and a successful 51% attack will be easily achieved.

NB: I may be wrong in my interpretation of "network deficit".
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November 29, 2012, 10:24:00 PM
 #344

I don't understand what that chart is trying to tell me.  What is the "network deficit"?

It shows how much miners would earn if the block reward was 0 BTC (not 25 as currently). It's supposed that in the future miner's income will be mainly tx fees. The fees will cover expenses for mining (electricity). Now most of the miners would switch their hardware off if there was no 25 BTC given each block. Bitcoin will survive only if its price or fees will be high enough to cover expenses. If this doesn't happen then only a few computers will mine and a successful 51% attack will be easily achieved.

NB: I may be wrong in my interpretation of "network deficit".

Thats why I.. who believes in BTC for the long term will never ever shutdown my rigs even when i for some time make some loss knowing i already made money out of the system and becourse if you are a true Bitcoin believer you are willing to invest some time keeping the protocol alive ..untill ASIC will arrive true miners should keep mining...but thats just how i think about it im a true supporter of the project not only for the money ...money is what is killing this world...and I have enough to live well..

But I also will laugh IF one time 1 BTC reaches $100 or 1000 pp .... Wink

Put your money were your mouth is…       #coinderdotcom
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January 08, 2013, 08:54:18 AM
 #345

Thanks intresting stuff, I wounder if one could predict more or less the event (price, hashrate or difficulty) at the end of the bitcoin payout mechanism in 2140.
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January 08, 2013, 02:50:35 PM
 #346

Thanks intresting stuff, I wounder if one could predict more or less the event (price, hashrate or difficulty) at the end of the bitcoin payout mechanism in 2140.



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January 09, 2013, 03:20:57 AM
 #347

Interesting idea!

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January 10, 2013, 01:44:44 PM
 #348

Thanks intresting stuff, I wounder if one could predict more or less the event (price, hashrate or difficulty) at the end of the bitcoin payout mechanism in 2140.

No.

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January 10, 2013, 11:04:06 PM
 #349

Thanks intresting stuff, I wounder if one could predict more or less the event (price, hashrate or difficulty) at the end of the bitcoin payout mechanism in 2140.

No.

How did you get your name in your Bitcoin address?!  Shocked

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January 11, 2013, 12:58:25 AM
 #350

Thanks intresting stuff, I wounder if one could predict more or less the event (price, hashrate or difficulty) at the end of the bitcoin payout mechanism in 2140.

No.

How did you get your name in your Bitcoin address?!  Shocked
Well, one way you can do it is:
https://bitcointalk.org/index.php?topic=25804.0

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July 08, 2016, 05:26:48 PM
 #351

See you all in 4 years !  Grin

Yup. Still here.


...Thanks to Piuk for the awesome fireworks on the blockchain.info site, who knows maybe in 2016 we'll have real fireworks Smiley
...
See you back here in 4 years!

Plenty of actual parties this year....wouldn't be surprised if there are indeed real fireworks somewhere this time.


Congratulations everyone! I predict the next 4 years will be much more exciting than the last four!!

Hah! You had no idea... Smiley



Welcome to the impending 12.5BTC/block era, everyone. Less than 24hours to go.

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July 08, 2016, 05:41:10 PM
 #352

Love seeing old threads like this get bumped at the appropriate times.  It's also nice to see legendary members chime in on them after years have gone by.  I won't say how much it arouses me but you can imagine.  Here's to the halving!

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July 08, 2016, 05:44:06 PM
 #353

Love seeing old threads like this get bumped at the appropriate times.  It's also nice to see legendary members chime in on them after years have gone by.  I won't say how much it arouses me but you can imagine.  Here's to the halving!
I wonder if there will be a price increase at the halving day ?
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July 08, 2016, 06:05:42 PM
 #354

sounds intresting but why yhis thread seems so old anyway tomorrow me any my little bitcoiners group is going to celibrate the bitcoin halving day.we will together see the market ups and downs

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July 08, 2016, 06:09:50 PM
 #355

Wow,my friend just called me that he got lucky trading at short term (with bitcoin) and he want's to celebrate a halving
with me and some couple of other friends haha Cheesy
He is making a big party in his villa,that is going to be cool!

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July 08, 2016, 06:19:04 PM
 #356

The end is near....


7

EDIT: Yuhfhrh beat me to it

Still here as well.

See ya in another 4 years.

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July 08, 2016, 06:28:44 PM
 #357

that is such a good idea. i appreciate your efforts. i will try my self and will do arrangement for celebrating the halving. i will collect some of my friends and will discuss the bitcoin in detail. i will do arrangement party for them in respect of halving day. hope they will get some important information about  bitcoin.
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July 08, 2016, 07:10:54 PM
 #358

sounds intresting but why yhis thread seems so old anyway tomorrow me any my little bitcoiners group is going to celibrate the bitcoin halving day.we will together see the market ups and downs

The old threads are very often the best ones dude!
Especially here in this crazy forum. Smiley
We should bump this thread for each halving and could discuss in retrospect how far we have come so far.
I hope this thread will be on top tomorrow in this section for the whole day.Make a nice posting and become part of the history!
See you guys in 2020!

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July 08, 2016, 07:58:28 PM
 #359

Leipzig, Germany, checking in! :-)

Ente
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July 08, 2016, 08:46:26 PM
 #360

sounds intresting but why yhis thread seems so old anyway tomorrow me any my little bitcoiners group is going to celibrate the bitcoin halving day.we will together see the market ups and downs

The old threads are very often the best ones dude!
Especially here in this crazy forum. Smiley
We should bump this thread for each halving and could discuss in retrospect how far we have come so far.
I hope this thread will be on top tomorrow in this section for the whole day.Make a nice posting and become part of the history!
See you guys in 2020!

If's funny even I am excited because it is a big day for bitcoin. Whatever will happen price wise, this will be history.
I am really curious if we can see a downward trend in hash rate the coming weeks after the halving.

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