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Author Topic: When will Bitcoin mining go from 7200 bitcoins a day to 3600 a day?  (Read 1235 times)
fastandfurious
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September 17, 2011, 05:45:05 PM
 #1

Is there any exact date or even month when this should happen? If I have understood it correctly, it should happen at the end of next year (Dec 2012?), has anyone calculated on a more accurate date?
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Dyaheon
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September 17, 2011, 05:50:20 PM
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Block 210000.

That's in 64.3k blocks, so at 6*24 = 144 blocks/day, we'll be there in about 450 days or ~15 months.
fastandfurious
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September 17, 2011, 05:54:11 PM
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Block 210000.

That's in 64.3k blocks, so at 6*24 = 144 blocks/day, we'll be there in about 450 days or ~15 months.

So December 2012 is a accurate estimation then.
FreeMoney
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September 17, 2011, 06:09:43 PM
 #4

Block 210000.

That's in 64.3k blocks, so at 6*24 = 144 blocks/day, we'll be there in about 450 days or ~15 months.

So December 2012 is a accurate estimation then.

Lol, coincidence, I think not.

Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
fastandfurious
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September 17, 2011, 06:12:02 PM
 #5

Block 210000.

That's in 64.3k blocks, so at 6*24 = 144 blocks/day, we'll be there in about 450 days or ~15 months.

So December 2012 is a accurate estimation then.

Lol, coincidence, I think not.

If you google it you will see that most people quote different months. That is a LOL

Have you lost fiat money on Bitcoins?
FreeMoney
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September 17, 2011, 06:18:40 PM
 #6

Block 210000.

That's in 64.3k blocks, so at 6*24 = 144 blocks/day, we'll be there in about 450 days or ~15 months.

So December 2012 is a accurate estimation then.

Lol, coincidence, I think not.

If you google it you will see that most people quote different months. That is a LOL

Have you lost fiat money on Bitcoins?

I got rid of (most of) my fiat if that's what you mean. But I don't think it was 'lost'.

Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
fastandfurious
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September 17, 2011, 06:29:58 PM
 #7

Block 210000.

That's in 64.3k blocks, so at 6*24 = 144 blocks/day, we'll be there in about 450 days or ~15 months.

So December 2012 is a accurate estimation then.

Lol, coincidence, I think not.

If you google it you will see that most people quote different months. That is a LOL

Have you lost fiat money on Bitcoins?

I got rid of (most of) my fiat if that's what you mean. But I don't think it was 'lost'.

So you are (almost) fully invested in BTC? If so, what do you think of the last months downturn? When will it return up?
ttk2
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September 17, 2011, 09:41:14 PM
 #8

Is there any exact date or even month when this should happen? If I have understood it correctly, it should happen at the end of next year (Dec 2012?), has anyone calculated on a more accurate date?


Its nearly impossible to quote accurately right now, as we get closer quotes will become more accurate. If more miners come into the system it will be shorter (more than 6 blocks an hour are generated for a few days till the difficulty adjusts) and vice versa if more leave, of course the same amount of coins will be generated no matter what, but since we can not estimate how miners will enter or leave the system over the next year or so any estimate could be as much as a couple of months off depending on events between then and now.


Block 210000.

That's in 64.3k blocks, so at 6*24 = 144 blocks/day, we'll be there in about 450 days or ~15 months.

So December 2012 is a accurate estimation then.

Lol, coincidence, I think not.

If you google it you will see that most people quote different months. That is a LOL

Have you lost fiat money on Bitcoins?

I got rid of (most of) my fiat if that's what you mean. But I don't think it was 'lost'.

So you are (almost) fully invested in BTC? If so, what do you think of the last months downturn? When will it return up?


The last months downturn is the result of the speculators leaving the market for one of two reasons.

1) They realized that their 'get rich quick' scheme was going to take a while to develop and decided not to stay in for the long haul.


2) Many people feel that Bitcoin is 'stagnating' simply because the community has run out of shiny new products and ideas to wave in their face every day... mainly because people are now working to turn those products and ideas into reality. 

Just in case i do something worthwhile: 12YXLzbi4hfLaUxyPswRbKW92C6h5KsVnX
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September 17, 2011, 09:52:33 PM
 #9

Block 210000.

That's in 64.3k blocks, so at 6*24 = 144 blocks/day, we'll be there in about 450 days or ~15 months.

So December 2012 is a accurate estimation then.

Lol, coincidence, I think not.

I wonder if we can estimate how accurately we will hit "the date"and possibly improve on it.
That is estimating the probability distribution for the change and throttle the hashrate collectively (the more people participate the more accurate it will be) by a few fractions of a percent so that the probability we will hit 21.dec.2012 23:59:59,999999 will be maximized  Grin

Why

-for the lulz
-probably the best advertising for bitcoin ever if it happens  Wink

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
FreeMoney
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September 18, 2011, 12:53:15 AM
 #10

Block 210000.

That's in 64.3k blocks, so at 6*24 = 144 blocks/day, we'll be there in about 450 days or ~15 months.

So December 2012 is a accurate estimation then.

Lol, coincidence, I think not.

If you google it you will see that most people quote different months. That is a LOL

Have you lost fiat money on Bitcoins?

I got rid of (most of) my fiat if that's what you mean. But I don't think it was 'lost'.

So you are (almost) fully invested in BTC? If so, what do you think of the last months downturn? When will it return up?

I have some gold so that if bitcoin is somehow destroyed I don't have to get a job the same month. Cash is just something I need to convert to for a little while it isn't any kind of investment. I got rid of my IRA that held mutual funds a while back, I don't have any "in system" assets now.

At $15 I thought it was about to go up. At $11 I was pretty sure it was time. At $8 I knew we were at the bottom. And now I glad to say that I'm positive the lows are in, for whatever that's worth.

At these levels I'd like a little bit of leverage. Some $10 NOV options from a trustworthy source would be a great investment imo.

Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
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