btcfre@k (OP)
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December 16, 2014, 06:38:17 PM |
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I know this question have been answered before but still i would like to know with all the new investor in big mining central,i would like to know if we will reach the mining final sooner than the early calculation estimated. guys keep it simple,smile and cheese
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bitcoinanalyzer.com and havingbitcoin.com for sale
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ticoti
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December 16, 2014, 06:40:09 PM |
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The estimate is 2140 based on the block reward halving frequency of four years.
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ebliever
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December 16, 2014, 06:40:39 PM |
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The intensity of mining (hashrate) has (virtually) no impact on the rate at which bitcoins are mined. BTC are currently mined at 25 BTC every 10 minutes, the reward halving every 4 years (next in 2016). I believe this runs until ~2140 AD.
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Luke 12:15-21
Ephesians 2:8-9
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Biitcoin
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December 16, 2014, 06:48:51 PM |
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The estimate is 2140 based on the block reward halving frequency of four years.
Well That's a really long long time , we would be all dead by then Let's hope that Bitcoin will live
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ticoti
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December 16, 2014, 07:27:16 PM |
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The estimate is 2140 based on the block reward halving frequency of four years.
Well That's a really long long time , we would be all dead by then Let's hope that Bitcoin will live Block Reward Era BTC/block Year Start BTC BTC Added End BTC BTC Increase End BTC % of Limit 840000 5 3.12500000 2024.978 19687500.00000000 656250.00000000 20343750.00000000 3.33333333% 96.87500011% 1050000 6 1.56250000 2028.971 20343750.00000000 328125.00000000 20671875.00000000 1.61290323% 98.43750011% 1260000 7 0.78125000 2032.964 20671875.00000000 164062.50000000 20835937.50000000 0.79365079% 99.21875011% 1470000 8 0.39062500 2036.956 20835937.50000000 82031.25000000 20917968.75000000 0.39370079% 99.60937511% 1680000 9 0.19531250 2040.949 20917968.75000000 41015.62500000 20958984.37500000 0.19607843% 99.80468761% 1890000 10 0.09765625 2044.942 20958984.37500000 20507.81250000 20979492.18750000 0.09784736% 99.90234386% 2100000 11 0.04882812 2048.934 20979492.18750000 10253.90520000 20989746.09270000 0.04887585% 99.95117198% 2310000 12 0.02441406 2052.927 20989746.09270000 5126.95260000 20994873.04530000 0.02442599% 99.97558604% 2520000 13 0.01220703 2056.920 20994873.04530000 2563.47630000 20997436.52160000 0.01221001% 99.98779307% 2730000 14 0.00610351 2060.913 20997436.52160000 1281.73710000 20998718.25870000 0.00610426% 99.99389658% actually,all bitcoin will be mined soon
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DannyHamilton
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December 16, 2014, 07:57:35 PM Last edit: December 16, 2014, 08:41:11 PM by DannyHamilton |
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Interestingly, it will take more than 30 years to mine "the last" bitcoin.
The 20,999,998.9769th bitcoin will be mined at block 5121610 somewhere around the year 2106. The last block reward will mine the 20,999,999.9769th and will occur in block 6930000 somewhere around the year 2140.
That means it will take nearly 34 years to mine that last full bitcoin.
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ticoti
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December 16, 2014, 08:34:02 PM |
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Interestingly, it will take more than 30 years to mine "the last" bitcoin.
The 20,999,998.9769th bitcoin will be mined at block 5121610 somewhere around the year 2106. The last block reward will mine the 20,999,999.9769th occur in block 6930000 somewhere around the year 2140.
That means it will take nearly 34 years to mine that last full bitcoin.
it is an incredible thing,while today we have 25 new bitcoins every 10 minutes we hope bitcoin is more valuable in that days
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jonald_fyookball
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Core dev leaves me neg feedback #abuse #political
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December 16, 2014, 09:36:35 PM |
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Interestingly, it will take more than 30 years to mine "the last" bitcoin.
The 20,999,998.9769th bitcoin will be mined at block 5121610 somewhere around the year 2106. The last block reward will mine the 20,999,999.9769th occur in block 6930000 somewhere around the year 2140.
That means it will take nearly 34 years to mine that last full bitcoin.
it is an incredible thing,while today we have 25 new bitcoins every 10 minutes we hope bitcoin is more valuable in that days yep, get em while they's cheap.
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okae
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northern exposure
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December 16, 2014, 10:13:23 PM |
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yep, get em while they's cheap.
+1 there is a long road yet for BTC, ppl should understand it and start to care about invest on it... The estimate is 2140 based on the block reward halving frequency of four years.
lol i was thinking arround 2040, 2140 is just awesome...
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MicroGuy
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Twitter @realmicroguy
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December 16, 2014, 10:44:27 PM |
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guys keep it simple,smile and cheese Until quantum mining is perfected, difficulty should be able to adjust for network hashrate increases.
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picolo
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December 16, 2014, 11:19:41 PM |
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Interestingly, it will take more than 30 years to mine "the last" bitcoin.
The 20,999,998.9769th bitcoin will be mined at block 5121610 somewhere around the year 2106. The last block reward will mine the 20,999,999.9769th occur in block 6930000 somewhere around the year 2140.
That means it will take nearly 34 years to mine that last full bitcoin.
it is an incredible thing,while today we have 25 new bitcoins every 10 minutes we hope bitcoin is more valuable in that days It will be more valuable. 90% of the Bitcoin will be mined before 2070, someone can calculate a precise year?
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hyphymikey
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December 16, 2014, 11:24:19 PM |
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I thought it was 2138 or 2139 since it is suppose to take 140 years from jan 2009
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exoton
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December 17, 2014, 04:32:57 AM |
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The intensity of mining (hashrate) has (virtually) no impact on the rate at which bitcoins are mined. BTC are currently mined at 25 BTC every 10 minutes, the reward halving every 4 years (next in 2016). I believe this runs until ~2140 AD.
This is not true. The network difficulty is reset every 2016 blocks so that if the hashrate that was being used the previous 2016 blocks continues to be used (and the same level of luck is realized) then the next 2016 blocks will take exactly two weeks to be mined. Every time the difficulty rises, it means that the previous 2016 blocks took less time then 'expected' to be found. It is really not possible to know with any kind of certainty when the last block with a block subsidy will be mined as this is largely dependent on the difficulty between now and then
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NewLiberty
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Gresham's Lawyer
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December 17, 2014, 07:50:07 AM |
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The intensity of mining (hashrate) has (virtually) no impact on the rate at which bitcoins are mined. BTC are currently mined at 25 BTC every 10 minutes, the reward halving every 4 years (next in 2016). I believe this runs until ~2140 AD.
This is not true. The network difficulty is reset every 2016 blocks so that if the hashrate that was being used the previous 2016 blocks continues to be used (and the same level of luck is realized) then the next 2016 blocks will take exactly two weeks to be mined. Every time the difficulty rises, it means that the previous 2016 blocks took less time then 'expected' to be found. It is really not possible to know with any kind of certainty when the last block with a block subsidy will be mined as this is largely dependent on the difficulty between now and then Another answer may be "never". If bitcoin price rises over time, the number of decimal places may extend to accommodate smaller payments. Each such extension increases the time before the block reward halving will round down to 0.0000......0 This can be a natural consequence of "lost or destroyed" coins, which increase the scarcity of existing coin and thus also perhaps the price of them. So this can in principle continue for so long as there are people exchanging bitcoin with one another.
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cyberpinoy
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December 17, 2014, 07:54:46 AM |
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if nothing drastic is canged in the Protocol then NO it will still be (I think it is) 2040 and only 21 million mined. that was how it was set up.
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bornil267645
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December 17, 2014, 08:14:08 AM |
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Bitcoin mining is loosing it's popularity recently... So it might take some time...
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dsly
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December 17, 2014, 08:29:00 AM |
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Its impossible to know this, as the difficulty increases, miners might go away, so it could be anytime within the next 100-200 years. Expected is 2150 though/.
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NewLiberty
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Gresham's Lawyer
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December 17, 2014, 09:09:16 AM |
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if nothing drastic is canged in the Protocol then NO it will still be (I think it is) 2040 and only 21 million mined. that was how it was set up.
Moving the decimal does not change the number of existing bitcoin, only the divisibility of them. A transaction (like a couple pizzas) that was once 10000 bitcoin could now be .01 bitcoins. If by 2140 a couple pizzas is 0.00000000001 bitcoins, there will be no way to order them unless the we go to more decimals. It isn't a very drastic change after all, and very possibly necessary. If 50 -> 25 -> 12.5 -> 6.25 -> 3.125 -> 1.5625 -> 0.78125 takes 24 years, or about a generation with halving every 4 years, then if the number of significant digits increases by 4 faster than every 50 years... it could be forever until there are no more block rewards at all and that last bitcoin is never completely mined.
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picolo
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December 17, 2014, 09:51:15 AM |
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Bitcoin mining is loosing it's popularity recently... So it might take some time...
That doesn't change anything : wikipedia bitcoin mining
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Totscha
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December 17, 2014, 10:11:06 AM |
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Let's keep things in perspective. In 10 years 95% of bitcoins will be mined. The rest will be spare change and less and less relevant to miners for the next 100 years.
Transaction fees will be the main incentive for miners.
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