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Cludas18
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November 29, 2015, 07:38:49 PM
 #1

Hello.

I'm fairly new to bitcoin mining and recently learned that in the near feature, the block reward will halve from 25 BTC to 12.5 BTC.

What exactly does this mean? Will this mean that miners will make less BTC since pools have less to split among the workers?
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ivanst776
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November 29, 2015, 07:48:35 PM
 #2

Hello.

I'm fairly new to bitcoin mining and recently learned that in the near feature, the block reward will halve from 25 BTC to 12.5 BTC.

What exactly does this mean? Will this mean that miners will make less BTC since pools have less to split among the workers?

Miners will make less btc, less profit than before, by this i expect that a good number of miners will quit so the difficulty will not be like today.


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Cludas18
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November 29, 2015, 07:49:58 PM
 #3

I see. So do you think getting an S7 or an Avalon 6 would be worth it?
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November 29, 2015, 08:00:39 PM
 #4

I see. So do you think getting an S7 or an Avalon 6 would be worth it?

As far as i know S7 Antminer is the latest mining hardware from that company so normally will be worth, if this does not worth i don't know if anyother worths Smiley


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Cludas18
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November 29, 2015, 08:08:12 PM
 #5

About how much less are miners going to make?

I have an S5 right now, that makes about $50 / month. Is it going to be useless when the block reward halves?
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November 29, 2015, 08:13:46 PM
 #6

About how much less are miners going to make?

I have an S5 right now, that makes about $50 / month. Is it going to be useless when the block reward halves?

Nobody can give exact amount, but i think that s5 is good but it's hard to reach ROI, the reward will be 50% less but the difficulty will be less too as many miners i expect they will quit so you will earn a little less than now.


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Cludas18
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November 29, 2015, 08:17:34 PM
 #7

Ok. That's kind of what I thought.

Thanks for your help!
ivanst776
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November 29, 2015, 08:24:33 PM
 #8

Ok. That's kind of what I thought.

Thanks for your help!

No problem you are welcome, S5, S5+, S7 should worth mining for at least 1-2 years or maybe more, the older one i think will not worth after the halving time.


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November 29, 2015, 08:34:24 PM
 #9

About how much less are miners going to make?

I have an S5 right now, that makes about $50 / month. Is it going to be useless when the block reward halves?

It depends on the difficulty and offcourse what will happen to the price. Normally it would 'double' too, but that's very unsure. Normally your S5 is profitable @160 dollar.

Offcourse if you may a lot of your energy this price will be higher.

For now I think you are safe for at least till the block halving with your S5
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November 29, 2015, 10:02:30 PM
 #10

It means the per block reward will be cut by 50% at set increments.  Currently it is 25 BTC per block and when the halving happens, it will drop too 12.5 BTC.

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November 29, 2015, 11:26:42 PM
 #11

I'm aware of this. I was more interested in the effect it would have on miners. Like if it would completely cut the reward in half for miners or just a little since the difficulty would change as well.
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November 29, 2015, 11:36:52 PM
 #12

The reward will be cut in 1/2 no if ands or buts.  Things like difficulty and btc price can it make it as you profit same amount or less but you will receive 1/2 as many btc per block finder reward as far as mining.  As difficulty and btc price no one knows  Huh Huh Huh it's complete speculation and anything can happen. 
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November 30, 2015, 04:54:36 AM
 #13

Block rewards get reduced due to how bitcoin works and block rewards get reduced. Thus meaning miners will get paid less coin for finding blocks or mining on pools. Only way will make more is if the price of bitcoin goes up with the amount per block reducing. Is going to be a tough one to see what way bitcoin value goes if it remains the same or it will double up as many are predicting so if that happens means miners will make the same fiat value but not bitcoin vale as rewards get reduced.

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November 30, 2015, 08:23:31 AM
 #14

About how much less are miners going to make?

I have an S5 right now, that makes about $50 / month. Is it going to be useless when the block reward halves?

if the price remain the same you will simply earn half of what you earn right now, which would be $25, but you should also factor the diff, so probably much less

diff will increase not because of the price only, but because of the efficiency, i believe there are still many that need to sell their s5 for s7
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November 30, 2015, 11:17:36 AM
 #15

Hello.

I'm fairly new to bitcoin mining and recently learned that in the near feature, the block reward will halve from 25 BTC to 12.5 BTC.

What exactly does this mean? Will this mean that miners will make less BTC since pools have less to split among the workers?

 Short form answer, that is correct.

 Long term answer, transaction fees add a little to the reward for solving each block - but at this time most blocks have quite a bit less than 1BTC of transaction fees included so they can pretty much be ignored.

 VERY long term answer, eventually the transaction fees will be most of the reward for mining a block - but that's years out, possibly a decade or more out.



 Between the difficulty increases and the block halfing, an S5 will probably become unprofitable to operate after the halfing - even if you have VERY VERY cheap (3c/KWH or less) electric it will most likely cost more to operate than you'll get in BTC rewards at that point. The only way it will continue to be profitable is if Bitcoin prices stay bumped up quite a bit or increase a fair bit more between now and then, in which case it MIGHT be minimally profitable for a short while after the halfing - but I'd bet AGAINST that.

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December 26, 2015, 11:35:15 PM
 #16

if the price dont go up  at the halving time   , the network do not resist becouse no ones can support it  with out profit ,

and  only way to get it roll is to adding more TH)new ones )to your mine

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December 27, 2015, 12:09:00 AM
 #17

Block rewards get reduced due to how bitcoin works and block rewards get reduced. Thus meaning miners will get paid less coin for finding blocks or mining on pools. Only way will make more is if the price of bitcoin goes up with the amount per block reducing. Is going to be a tough one to see what way bitcoin value goes if it remains the same or it will double up as many are predicting so if that happens means miners will make the same fiat value but not bitcoin vale as rewards get reduced.

Well said.

The only thing that I can add to this is that if the price floats around the 450 - 500 USD range, it is very much profitable for the newer generation miners to mine.
Will it go under this price, then a lot of mining farms will have to close shop.
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