jason44
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 Offline
Activity: 36
Merit: 0
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November 17, 2013, 05:00:52 AM |
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Yayyy! 12m mined  |
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According to NIST and ECRYPT II, the cryptographic algorithms used in
Bitcoin are expected to be strong until at least 2030. (After that, it
will not be too difficult to transition to different algorithms.)
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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androz
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November 17, 2013, 06:13:28 AM |
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in the middle of path .....  |
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DeathAndTaxes
Donator
Legendary
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Activity: 1218
Merit: 1079
Gerald Davis
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November 17, 2013, 06:18:37 AM |
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Surely, by the time that mining only gets you 1 satoshi in however many years that is, it will not be anywhere near viable to mine anymore. It would cost so much more in electricity to mine than what you would earn unless bitcoins price soars to the point where 1 satoshi costs hundreds of dollars. I guess that almost seem like a possibility at the moment the way the price is going but i don't think it will rise forever, it will collapse some day soon under its own weight without the needs of governments to intervene. or ... miners turn off rigs and difficulty goes down. That combined with transaction fees should make the network viable forever. What a great solution. Too bad Satoshi didn't think of that. Oh wait he did. Difficulty goes up and down based on hashpower on the network. The network will always reach equilibrium. |
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BurtW
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Activity: 2646
Merit: 1130
All paid signature campaigns should be banned.
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November 17, 2013, 06:22:27 AM |
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Surely, by the time that mining only gets you 1 satoshi in however many years that is, it will not be anywhere near viable to mine anymore. It would cost so much more in electricity to mine than what you would earn unless bitcoins price soars to the point where 1 satoshi costs hundreds of dollars. I guess that almost seem like a possibility at the moment the way the price is going but i don't think it will rise forever, it will collapse some day soon under its own weight without the needs of governments to intervene.
It is always best to learn how something is designed and how it works before you form opinions. |
Our family was terrorized by Homeland Security. Read all about it here: http://www.jmwagner.com/ and http://www.burtw.com/ Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated! |
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eiliant
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Activity: 84
Merit: 10
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November 17, 2013, 06:24:31 AM |
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12,000,000 / 21,000,000 !
~~~~~
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beetcoin
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November 17, 2013, 06:28:05 AM |
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Surely, by the time that mining only gets you 1 satoshi in however many years that is, it will not be anywhere near viable to mine anymore. It would cost so much more in electricity to mine than what you would earn unless bitcoins price soars to the point where 1 satoshi costs hundreds of dollars. I guess that almost seem like a possibility at the moment the way the price is going but i don't think it will rise forever, it will collapse some day soon under its own weight without the needs of governments to intervene.
It is always best to learn how something is designed and how it works before you form opinions. yeah, satoshi is one smart cookie.. would be crazy to believe that he did not plan in this event. but yeah, miners get subsidized for the proof of work (i think?), so it's not just mining "new coins." |
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AuroraHF
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November 17, 2013, 06:30:50 AM |
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Amazing, to the next 9 million!
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lmao
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JTrain_51
Member
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Activity: 84
Merit: 10
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November 17, 2013, 06:40:36 AM |
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All looking pretty good for btc right now price is rising and bitcoin atm machines are out
Im going to be really happy when it hits 15 mill
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Trance
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November 17, 2013, 07:10:34 AM |
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The last bitcoin is supposed to be mined in year 2141? Correct ?
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Some people are so poor ALL they have is money
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Sniar
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November 17, 2013, 07:33:37 AM |
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Nice , wish satoshi make it more than 21M bitcoin available
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DeathAndTaxes
Donator
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Activity: 1218
Merit: 1079
Gerald Davis
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November 17, 2013, 08:44:46 AM |
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The last bitcoin is supposed to be mined in year 2141? Correct ?
Approximately. It depends on how fast average network hashrate growth is. If the network sustains a 10% per difficulty period average hashrate growth it would be more like 15 years earlier. |
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jaakkop
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November 17, 2013, 05:42:32 PM |
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Surely, by the time that mining only gets you 1 satoshi in however many years that is, it will not be anywhere near viable to mine anymore. It would cost so much more in electricity to mine than what you would earn unless bitcoins price soars to the point where 1 satoshi costs hundreds of dollars. I guess that almost seem like a possibility at the moment the way the price is going but i don't think it will rise forever, it will collapse some day soon under its own weight without the needs of governments to intervene.
You do realise that miners collect transaction fees? In the far future the block reward itself isn't going to matter much anymore. |
I'd buy that for a dollar bitcoin!
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LiteCoinGuy
Legendary
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Activity: 1148
Merit: 1010
In Satoshi I Trust
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November 17, 2013, 07:16:29 PM |
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Nice , wish satoshi make it more than 21M bitcoin available
try Litecoin, there are 84 mio ;-) |
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Buffer Overflow
Legendary
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Activity: 1652
Merit: 1015
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November 17, 2013, 09:38:49 PM |
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Nice , wish satoshi make it more than 21M bitcoin available
try Litecoin, there are 84 mio ;-) These are just arbitrary numbers. |
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MaxBTC1
Newbie
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Activity: 56
Merit: 0
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November 17, 2013, 09:45:41 PM |
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just want to be in this thread
historic moment
I am also toasting in this epic bread. |
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phelix
Legendary
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Activity: 1708
Merit: 1019
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November 17, 2013, 10:39:20 PM |
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Cool! Thanks for pointing it out.
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vpitcher07
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November 17, 2013, 10:57:17 PM |
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Woo!  |
Bitcoin: The currency of liberty
1HBJSf3Lm9i8KxjZ7fuoN9FJ8hniniFbv4
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uMMcQxCWELNzkt
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November 17, 2013, 11:03:19 PM |
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Does this also mean a surge of new media reports are coming our way?  |
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Rez
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November 17, 2013, 11:09:38 PM |
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BITCOIN.SL Domain for Sale - ฿5.00 - Bitcoin Only - Escrow OK
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smoothrunnings
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November 17, 2013, 11:19:35 PM |
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At the time of posting, 11,999,925 BTC have been mined. 3 blocks to go before 12M, everyone get party crackers! It will be nice once Bitcoin is worth $10,000! Heck if it gets to more than 100k that would be great too! |
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