Bitcoin Forum
December 11, 2016, 10:03:17 AM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: When will the bitcoin block rewards end?  (Read 1123 times)
MatthewLM
Legendary
*
Offline Offline

Activity: 1092



View Profile WWW
October 04, 2011, 09:55:04 PM
 #1

It converges on 21 million but never reaches it. At what reward does it end? Does the rewards get less and less forever or is there a point when it drops to zero?

Bitcoin Extra Wallet | Peercoin Android Wallet
BTC: 1D5A1q5d192j5gYuWiP3CSE5fcaaZxe6E9  PPC: PH7fVn1Xs7nkUFmdwCX2ZRYfLPCSwGxAq9
1481450597
Hero Member
*
Offline Offline

Posts: 1481450597

View Profile Personal Message (Offline)

Ignore
1481450597
Reply with quote  #2

1481450597
Report to moderator
1481450597
Hero Member
*
Offline Offline

Posts: 1481450597

View Profile Personal Message (Offline)

Ignore
1481450597
Reply with quote  #2

1481450597
Report to moderator
1481450597
Hero Member
*
Offline Offline

Posts: 1481450597

View Profile Personal Message (Offline)

Ignore
1481450597
Reply with quote  #2

1481450597
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1481450597
Hero Member
*
Offline Offline

Posts: 1481450597

View Profile Personal Message (Offline)

Ignore
1481450597
Reply with quote  #2

1481450597
Report to moderator
1481450597
Hero Member
*
Offline Offline

Posts: 1481450597

View Profile Personal Message (Offline)

Ignore
1481450597
Reply with quote  #2

1481450597
Report to moderator
1481450597
Hero Member
*
Offline Offline

Posts: 1481450597

View Profile Personal Message (Offline)

Ignore
1481450597
Reply with quote  #2

1481450597
Report to moderator
Stephen Gornick
Legendary
*
Offline Offline

Activity: 2002



View Profile
October 04, 2011, 11:08:42 PM
 #2

Quote
How does the halving work when the number gets really small?
The reward will go from 0.00000001 BTC to 0. Then no more coins will likely be created.
The calculation is done as a right bitwise shift of a 64-bit signed integer, which means it is divided by 2 and rounded down. The integer is equal to the value in BTC * 100,000,000. This is how all Bitcoin balances/values are stored internally.
Keep in mind that using current rules this will take nearly 100 years before it becomes an issue and Bitcoins may change considerably before that happens.
- http://en.bitcoin.it/wiki/FAQ#How_are_new_Bitcoins_created.3F

And here is what that looks like:



Tonka Branded Truck
Sr. Member
****
Offline Offline

Activity: 259



View Profile
October 05, 2011, 05:03:16 PM
 #3

Quote
How does the halving work when the number gets really small?
The reward will go from 0.00000001 BTC to 0. Then no more coins will likely be created.
The calculation is done as a right bitwise shift of a 64-bit signed integer, which means it is divided by 2 and rounded down. The integer is equal to the value in BTC * 100,000,000. This is how all Bitcoin balances/values are stored internally.
Keep in mind that using current rules this will take nearly 100 years before it becomes an issue and Bitcoins may change considerably before that happens.
- http://en.bitcoin.it/wiki/FAQ#How_are_new_Bitcoins_created.3F

And here is what that looks like:



That's such a beautiful image...  Smiley

bracek
Hero Member
*****
Offline Offline

Activity: 530


View Profile
October 05, 2011, 06:07:15 PM
 #4

when will the last "whole" bitcoin be mined ?
that one will have the numismatic value also

50 btc per block
25  btc pb
12.5  btc pb
6.25 btc pb
3.125 btc pb
1.5625 btc pb

so question is what will be the block count of the last 1.5625 BTC reward
MatthewLM
Legendary
*
Offline Offline

Activity: 1092



View Profile WWW
October 05, 2011, 06:07:39 PM
 #5

Thanks but will the rewards continue forever but just get smaller and smaller until they go under one Satoshi?

Bitcoin Extra Wallet | Peercoin Android Wallet
BTC: 1D5A1q5d192j5gYuWiP3CSE5fcaaZxe6E9  PPC: PH7fVn1Xs7nkUFmdwCX2ZRYfLPCSwGxAq9
D.H.
Sr. Member
****
Offline Offline

Activity: 311


Bitcoin.se site owner


View Profile WWW
October 05, 2011, 06:15:25 PM
 #6

Thanks but will the rewards continue forever but just get smaller and smaller until they go under one Satoshi?

From the first answer in this thread:

Quote
How does the halving work when the number gets really small?
The reward will go from 0.00000001 BTC to 0. Then no more coins will likely be created.

www.bitcoin.se - Forum, nyheter och information på svenska! (Forum, news and information in Swedish)
MoonShadow
Legendary
*
Offline Offline

Activity: 1666



View Profile
October 05, 2011, 06:19:46 PM
 #7

Thanks but will the rewards continue forever but just get smaller and smaller until they go under one Satoshi?

If the current 64 bit integer model remains intact until 2133 (very unlikely) than no, the reward will actually cease.  If the integer is either switched to a 128 bit integer or some other method of recognizing additional bits is devised, then the halving could continue, but the reward will continue to dwindle as it approaches the 21 million bitcoin limit.  It can never reach it, no matter how long the block reward continues.

"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."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!