Can more transaction reduce halving time?

[Wapinter]

The next bitcoin halving is on 11 Jul 2016
03:05:22, If volume of bitcoin transaction suddenly increases,will it bring halving much before 11 Jul 2016?Is more bitcoin transactions mean more block creation?

[Lutpin]

Is more bitcoin transactions mean more block creation?

No.

[Wapinter]

Is more bitcoin transactions mean more block creation?

No.

Then how each transaction is recorded in blockchain? How much transaction can a block accommodate?

[franky1]

The next bitcoin halving is on 11 Jul 2016
03:05:22, If volume of bitcoin transaction suddenly increases,will it bring halving much before 11 Jul 2016?Is more bitcoin transactions mean more block creation?

if a block has 10 transactions or 2000 transactions it does not matter.. a mining pool will still need to hash out a solution which takes about the same time..

it is not about transactions per block that change the timing of block creation..

however..

if mining pools doubled their hashing power by having twice as much ASICS running. they can potentially solve blocks faster (though this is not a doubling of speed as its more of luck and increasing chances rather than any fixed timescales).

and every two weeks when the difficulty adjusts to compensate. if the mining pools then double up again trying their hardest to solve 2016 blocks in well under the standard 2 week period.. then yes the estimated date of 11th of july halving, could be sooner.

in short its about increasing ASIC hashing power to always stay way above the difficulty. and not about transactions

[--Encrypted--]

If volume of bitcoin transaction suddenly increases,will it bring halving much before 11 Jul 2016?

No.

Then how each transaction is recorded in blockchain? How much transaction can a block accommodate?

when someone broadcast a transaction through the network successfully, the full nodes that accepts the transaction records it and relay it to the miners and other nodes. they will keep the transaction in their mempool for a certain amount time before they drop it.

each blocks can accommodate up to 1MB transaction. transactions vary in size, but most (all?) of them are above 200byte. I don't know if there's a limit to the # of transactions per block.

[MingLee]

Technically and realistically, no, more transactions will not make the halving come around faster.

What happens is the blocks get filled more and more, and it doesn't speed up the rate the blocks are processed. A new block is set to be created roughly every 10 minutes, and it won't ever be generated faster than that. That's why we can have clocks for the halving that are accurate.

More transactions just mean more fees for the miners, technically, so it's only a loss for the person ending the transaction.

[Velkro]

The next bitcoin halving is on 11 Jul 2016
03:05:22, If volume of bitcoin transaction suddenly increases,will it bring halving much before 11 Jul 2016?Is more bitcoin transactions mean more block creation?

There will be no more transaction, coz blocks are full... i must wait around 4 hours to first confirmation of my transaction with high fee included.
Thats pretty bad for payment network, blocksize should be 2MB by now.

[7788bitcoin]

No. The protocol is designed to adjust the mining difficulty every 2016 blocks. If there is a sudden increase in hashing rate within that 2016 blocks, we will complete the blocks faster = shortening the halving time. Similarly, if the hashing rate drops, the halving time will be longer.

[vodaljepa]

Things will get interesting in July

[MicroGuy]

The next bitcoin halving is on 11 Jul 2016
03:05:22, If volume of bitcoin transaction suddenly increases,will it bring halving much before 11 Jul 2016?Is more bitcoin transactions mean more block creation?

There will be no more transaction, coz blocks are full... i must wait around 4 hours to first confirmation of my transaction with high fee included.
Thats pretty bad for payment network, blocksize should be 2MB by now.

Satoshi would have probably increased blocksize in 2011 (without asking) if he hadn't vanished.

Blocksize reduction to 1MB was only temporary, never meant to be a consensus rule.  

~~

[Quickseller]

I will have to disagree with those who are saying "no" to the OP's question.

If more transactions are being included in blocks, then the miners are receiving a greater number of total transaction fees, which means that the total block reward (block subsidy plus transaction fees) will be greater then it would be otherwise.

With the increased total block reward, it may become worthwhile for owners of miners to turn on mining equipment that they would otherwise wish to have turned off due to lack of profitability. This would cause the miners as a whole to (likely -- assuming 100% luck) find blocks are a quicker pace.

With the above being said, based on the current (estimated) time to the next halving, as well as the current (rough/general) proportion of transaction fees to total block reward, I would think that any reduction in the current time to the next halving due to increased transaction volume would be very small. Although the effect on the time between the future halvings may be greater.  

[7788bitcoin]

I will have to disagree with those who are saying "no" to the OP's question.

If more transactions are being included in blocks, then the miners are receiving a greater number of total transaction fees, which means that the total block reward (block subsidy plus transaction fees) will be greater then it would be otherwise.

With the increased total block reward, it may become worthwhile for owners of miners to turn on mining equipment that they would otherwise wish to have turned off due to lack of profitability. This would cause the miners as a whole to (likely -- assuming 100% luck) find blocks are a quicker pace.

With the above being said, based on the current (estimated) time to the next halving, as well as the current (rough/general) proportion of transaction fees to total block reward, I would think that any reduction in the current time to the next halving due to increased transaction volume would be very small. Although the effect on the time between the future halvings may be greater.  

I think this may be an indirect "Yes", but directly it is still "No". The transaction fee at the moment is still very low compared to the block reward of 25BTC. The "pull" power of the fee is negligible.

[Viyamore]

For my own opinion , i think more transaction is good because more transaction is more active to the bitcoin price value .to have a more higher halving by the month of july.