How Will 2017's Block Reward Halving Affect Bitcoin Price?
Me I would cash out. Totally your choice though. I will probably cash out at least 75% of it and hold on to the rest in case of a spike in the price. Might get really lucky, might not. Better chance of sex aliens from planet sex coming to take you too there home planet. Lol maybe, but a lot of people would have said the same thing when bitcoins were worth nothing. There are still reasons people use bitcoins, I know that the overseas company I am working with has good reason to use them. I dont see BTC going mainstream, but there is always going to be a demand for these types of non-cash transactions. The only question is if this demand can match the output of bitcoins. There are companies that are legal that have a purpose for them, there are investors who buy them based on speculation, there is a massive amount of people using them in black markets, gray areas(for example in states where marijuana is legal but money cant be kept in banks because of federal laws conflicting with state laws), and tax avoidance purposes. While obviously, the motives for some people using them is questionable, that doesnt change fact that it still creates a large demand for them or a similar services. Even so, you might be correct that the bitcoin price may be currently overestimating this demand. However, anything can happen, because regardless of demand for their use, speculation can drive the price up whether that speculation is entirely based on facts or not. Cryptocurrency is here to stay, the question is at what price point. I see bitcoins lingering like Esperanto, a few will use it but the world at large will be wtf are you talking about. have you nothing better to do than spam btc news sites? If the price goes up, all current investors who saved it earn money. Its not like fiat cu Continue reading >>
Ltc Halving Countdown - Crypto Mining Blog
All About BTC, LTC, ETH mining as well as other alternative crypto currencies There are just about two more days left before the first Litecoin (LTC) block reward halving occurs, this should happen sometime on Tuesday, August 25th. Litecoins block mining reward halves every 840000 blocks or roughly in 4 years, and we are going to see the first halving that will bring the coin reward down to 25 coins from the current reward of 50 coins. The total Litecoins mined when the first block reward halving occurs will be 42 million and for the next 4 years before the next halving occurs there will be 21 millions more LTC mined. The question how will the halving affect Litecoin (LTC) and especially the price of the alternative crypto currency is the one that miners are continuing to be asking as the day approaches. If you want to keep a track of when exactly the Litecoin block reward halving will occur, then you should know that there is a countdown on a dedicated website just for that available. Continue reading >>
The Byzantium Countdown: What's Left Before Ethereum's Next Fork? - Coindesk
The Byzantium Countdown: What's Left Before Ethereum's Next Fork? The next major update to ethereum, the world's second largest blockchain by total value, is set to go live in less than a week. Part of a larger, multi-component upgrade called Metropolis , the so-called"Byzantium" code will be enforced at block 4,370,000 or in about four days according to current metrics as a hard fork . A common (yet controversial ) strategy for upgrading blockchains, this means the changes are required to be accepted broadly by all stakeholders on the ethereum blockchain. In this light, however, it's notable that the use of this mechanism in the past has had mixed results for ethereum. To date, the platform has conducted four hard forks , with only one resulting in the creation of an alternative blockchain, ethereum classic . Given the changes in Byzantium have been outlined in the ethereum roadmap as far back as 2015, it's unlikely it will prove problematic.With two major upgrades from Metropolis postponed, Byzantium is perhaps best seen as a conservative upgrade that will introduce nine key ethereum improvement protocols (EIPs) to the platform. In total, the changes are designed to make the platform lighter and faster to run, improving transaction speed, smart contract security and eventually perhaps, privacy . However, that said, there's still work to be done on the upgrade, with various stakeholders now entering the final stages of their preparations. As the shift toward Byzantium is dependant on the network nodes updating, the main focus in the days ahead will be ensuring the clients that offer software to nodes are ready for the upgrade. This means that startups responsible for overseeing clients need to ensure their software actuallycontains the EIPs that enforce the Byzantium Continue reading >>
9 Answers - If The Block Time Is 10 Minutes Does It Mean That The First Miner Gets A Coin Every 10 Minutes? - Quora
If the block time is 10 minutes does it mean that the first miner gets a coin every 10 minutes? The bitcoin protocol produces a new block, on average, every 10 minutes. Miners are making trillions of guesses every second, trying to find the right nonce value that will make the block valid. When a miner is successful, they transmit their block to the network, and are rewarded with the block reward (currently 12.5 BTC) and all of the transaction fees from that block. The bitcoin protocol adjusts how how hard it is to find a block every two weeks, this is called difficulty , and results in a target value. The luck that miners have is not under anybodys control, so sometimes blocks are found quickly, and sometimes it takes longer. When two blocks are found at the same time, then a temporary fork happens. Whichever fork is extended first becomes the valid chain, and the other fork is discarded. The net result is that bitcoin remains secure because of the work required to extend the chain, and that security is what guarantees that bitcoins have value. This system has been running now for eight years, and no major flaws or weaknesses have been identified, so it looks like bitcoin is here to stay. Original Question: If the block time is 10 minutes does it mean that the first miner gets a coin every 10 minutes? There normally isnt a set or a well defined block time for a blockchain. A block is nothing short of a series of transactions compiled together. A block contains reference to the previous block and the solution to a mathematical problem. The block time isnt dependant on the time, however whenever the block gets solved, the block time is said to be equivalent to the amount of time taken to solve for that particular block. Every 2016 Blocks, consensus is initiated and deci Continue reading >>
The Halvening! Bitcoin Halving For Rocket Lovers
In the Bitcoin network, user transactions are grouped in blocks and recorded to a digital public ledger called a blockchain . Miners are in charge of this task, and receive a mining reward in the form of bitcoins for each block recorded. The amount of bitcoins rewarded for each block decreases with time: it is halved every 4 years . This event, the moment when the mining reward is divided by 2, is commonly called "Bitcoin halving". Other denominations are used: "reward drop", "reward halving", or simply "the halving" or "the Halvening" which is a popular meme among bitcoiners. When Bitcoin was created in 2009 , the initial reward was 50 bitcoins. In november 2012, it dropped to 25btc after the first halving. The second halving will take place in July 2016, decreasing the reward to 12.5btc. Read more... As any freely traded asset, Bitcoin price depends solely on demand and supply. The evolution of bitcoins supply is hard coded and is known to everyone, so it all depends on the evolution of demand. Bitcoin being a very young currency with much room to grow in use and value, I would personally bet on a price increase. How much? When? It remains 100% unpredictable. One thing is certain though: at the time of Halving, the supply reduction will already be priced in the exchange rate, thanks to market anticipation. So don't expect a big price movement on Halving Day. Note that other examples of halvings are available for comparison. The first Bitcoin halving occurred on the 28th of November 2012 . On that day the price went up +1.7%, a negligible move. However the preceding and following months showed continued growth and led to the famous early-2013 rally (from 13$ to 260$ in 4 months). More recently, the Litecoin, a Bitcoin clone, passed its first halving on August 25th, 20 Continue reading >>
Block Reward Halving - Crypto Mining Blog
All About BTC, LTC, ETH mining as well as other alternative crypto currencies The Second Bitcoin Block Reward Halving is Upon Us The second Bitcoin block reward halving is going to happen in a bit less than 3 days from now with a little over 400 blocks remaining. The amount of Bitcoins rewarded for each block decreases over time, getting halved once every 210000 blocks (approximately every four years). When Bitcoin was created in 2009, the initial block reward was 50 BTC, then in November 2012, it dropped to 25 BTC after the first halving. As a result of the block reward getting reduced once more in a few days finding a new Bitcoin block will start rewarding the miner that found it with just 12.5 BTC instead of 25 BTC like it is still at the moment. Following this development in 4 more years or sometime in 2020 the next Bitcoin block reward halving is expected to take place further reducing the block reward in half to just 6.25 BTC and so on. This will continue until the total limit of 21 million Bictoins are mined, though this will take quite a lot of years. The total number of BTC after the halving of the block reward should be about 15 Million and 750 Thousands out of the 21 Million total and with the continuing reduction of the reward over time the remaining over 5 Million of coins will take years and years and more halvings to be mined (estimated time is around 2140). What is the Situation with Litecoin After the Halving Earlier this week the first block reward halving for the Litecoin (LTC) has happened and although there was a bit of uncertainty about what exactly will happen with the alternative crypto currency it seems that things havent changed much actually. The exchange rate of 1 LTC is still hovering around $3 USD or a little lower, but the network difficu Continue reading >>
Will The Upcoming Mining Reward Halving Impact Bitcoins Price?
The reward for mining Bitcoin is expected to see the second halving in its history later this year, potentially in June or July. Bitcoin, a deflationary store of value as opposed to reserve currencies and fiat-money, has had its total supply limited to 21 million bitcoins since the original code released by Satoshi Nakamoto in 2008. Unlike fiat currencies that can be printed at will by central banks, the total supply of bitcoins is fixed by the consensus rules of the system. Because of its deflationary nature, the digital currency is often compared to precious metals such as gold, which also undergo a resource-intensive creation or mining process. This process of mathematically securing transactions in a block of chains called mining requires a tremendous supply of computing power and electricity. In exchange for securing the Bitcoin network and processing transactions, the protocol currently rewards these miners with 25 bitcoins for every block of transactions found. However, this reward for miners will soon be cut in half from 25 bitcoins to 12.5 bitcoins. This halving will occur at block 420,000, which is expected to be mined in the middle of 2016. The decline of miners reward simply means that the Bitcoin network will begin to generate bitcoins at a much slower rate. If the demand for bitcoin remains constant through the year while the supply is cut in half, simple economics dictates that the price should rise until there is a new equilibrium between supply and demand. Whether or not this supply change is already a factor in the price of bitcoin is a point of disagreement. Some argue that the Bitcoin community has been fully aware of the halving of miners reward for a long time and that the actual decline in the supply of bitcoins will not surprise most Bitcoin ent Continue reading >>
Bitcoin Block Reward Halving Countdown Real Time Updates?
Have you ever mined Bitcoin? If you did, you know that it can be a really profitable action. If you ever want to mine Bitcoin, though, you better hurry, because the block reward will be halved soon. You dont even know what mining is or why will it be halved? Dont worry, we will explain that to you! Bitcoins works using blockchain technology . That means that miners use specific software to solve complex mathematical calculations and mine blocks to receive cryptocurrency as a reward. This is how Bitcoin is issued . After a certain number of blocks are mined, the system halves the rewards to ensure that there will not be too much Bitcoins available and prevent inflation. In the beginning, to create this economic system, a large number of Bitcoins were needed , but not anymore, that is why the rewards will be halved many times in the near future. The price halves approximately every four years. The initial reward was 50 BTC in 2009, then 25 BTC in 2013, 12,5 BTC in 2016 and it will happen again in the future. What is the Bitcoin Block Reward Halving Countdown Site? Bitcoin Block Reward Halving Countdown is a site that offers information about Bitcoin and has a countdown to show how much time there is remaining until the block reward halving actually happens. If you are interested in mining Bitcoin , the site could be an interesting resource, but do not worry too much, the next halving will not happen in less than two years (at the time of this report) anyway. Enter Your Email To Receive Weekly Cryptocurrency Coin Reviews, News & Investing Insights I will never give away, trade or sell your email address. You can unsubscribe at any time. Continue reading >>
The Bitcoin Halving - Bitcoin Block Reward Halving
What exactly is the bitcoin halving? There is a limited supply of bitcoins. There will never be more than 21 million bitcoins ever, and this will never change. Bitcoin is a deflationary store of value with a limited supply, like a digital version of gold, and unlike regular currencies. With normal fiat currency central banks can simply print more money and devalue the currency. When Satoshi Nakamoto created bitcoin, he needed a way to distribute the bitcoins in a fair way. He decided the best way to do this was to give them away for free, as a reward to people for processing bitcoin transactions, also known as bitcoin miners. So by processing the transactions and mathematically securing them into block, the miners are rewarded with new bitcoins for each block created or mined by them. Of course today the cost to mine bitcoins is not free due to the tremendous supply of computing power and electricity needed for the creation of a new block, which happens approximately every 10 minutes on the Bitcoin network. At first when bitcoin was created by Satoshi Nakamoto, the reward for mining a block was 50 bitcoins. So at first there were 50 new bitcoins created every block or 10 minutes, equating to around 7200 new bitcoins created every day. The bitcoin halving is the term used to describe the decrease in new bitcoins being created every 10 minutes by half. This halving event occurs every 210000 blocks or approximately every 4 years. The system was designed so that this reward will be given every block for 210000 blocks, or approximately 4 years, before being cut in half. This is a way to limit and control the supply of new bitcoin on the Bitcoin network. After every 210000 blocks, the reward is again reduced by half. We had the first halving of the reward on 28th of November Continue reading >>
What Are Mining Rewards In Ethereum?
Mining Ether will start with the release of the Frontier platform. The Olympics test beforehand had no value attributed to the Ether which was mined and all balances at the Ether launch were set back to the close of the Fundraising so even if you had transferred our Ether on the testnet after contributing to your fundraise you will keep the Ether on the launch of the Frontier platform. The proof of work in Ethereum is run through Ethash . The successful PoW miner will receive a static block reward that is equal to 5 Ether. The successful miner will also receive all the gas in fees that it generates from the transactions in the block that it verifies. As time goes on and the amount of Ether created grows it is expected that gas rewards will take the lions share of mining rewards. The miner will also receive an award of 1/32 per Uncle block included. Uncles are stale blocks with parents that are a maximum of six blocks back from the present block. Valid Uncle blocks are rewarded to halt network lag (time to propagate a valid block to the whole network). Uncles included in a block receive 7/8 of the static block reward or 4.375 Ether- with a maximum of 2 Uncles allowed per block. After you have mined some ether you will need somewhere to store it and you can choose the best place here with our ethereum wallet comparison page. Continue reading >>
Bitcoin's 2016 Halving: What Is It And Why Should You Care?
Last updated on July 8th, 2016 at 11:55 pm Soona major event is going to happen in the Bitcoin ecosystem The Block Halving. Although it may sound like a pagan ritual which includes the sacrificing of virgins and opening gateways to parallel worlds, the block halving event is real and its important. Whenever a miner solves a Bitcoin block he gets Bitcoins as a reward, thats how Bitcoins come into this world. If youre unfamiliar with Bitcoin mining this short video will get you up to speed: When Satoshi Nakamoto set up the rules for the Bitcoin protocol he stated that the number of bitcoins generated per block is set to decrease geometrically (by 50%) every 210,000 blocks. Since 6 blocks are found on average within an hour and halving happens once every 210,000 blocks,this means that every 4 years (give or take) there will be a halving event. This basically means that the reward the miners will bereduced to 50% of what it used to be. So if today each miner receives 25 Bitcoins for solving a block, after the halving event he will receive only 12.5BTC. Following this math, the final number of Bitcoins will beroughly 21 million(20999999.9769 to be exact) in the year 2140. Of course the fact that 21 million Bitcoins have been generated doesnt mean that there are actually 21 million Bitcoins that can be spent. You need to take into account that there are many lost Bitcoins which will never be recovered (its assumed that 1/3 of the Bitcoins mined until today were lost). Why should you even have a halving event? The main reason why this isdone is to keep inflation under control. One of the major faults of traditional, fiat, currencies controlled by central banks is that the banks can print as much of the currency as they want, and if they print too much,the laws of supply and d Continue reading >>
Ethereum Block Reward Halving Countdown -unity Ingot - Accepted By Friends Everywhere
Best Information On Cryptocurrency Market Watcher Ethereum Block Reward Halving Countdown -Unity Ingot - Accepted By Friends Everywhere Home >> Ethereum >> Ethereum Block Reward Halving Countdown Learn much more around "Ethereum Block Reward Halving Countdown" review currently. A wise action or financial investment in regards to bitcoin is a better means making your day. This is a fantastic way to load electronic money in your purse and also use this electronic money to get one more product from the net world. Bitcoin is the initial electronic money, which was presented into the on the internet money market by a terrific researcher Satoshi Nakamoto in 2009. Afterwards bitcoin hold its grip in the electronic world by providing a number of centers to its user. It relaxes people by supplying an additional option over standard cash. The on the internet investors like to trade in terms of electronic coin. They bet electronic money in order to obtain more from the digital market. This is a cash making scheme, if luck is with you. So would certainly paper currencies nevertheless, so their reality has actually provided priority to the making of the brand-new electronic money. So while the self-confidence we keep up as a general public in our ingenious development develops, it also gets ready for this new wonder of Bitcoins and all other alt-coins. The evaluation of a singular bitcoin climbed up rapidly in 2013 to a record $1200 per bitcoin. Due to the fact that of many revenue sharks hopping on the brand-new dash for unheard of riches, this was fundamentally. It is esteem has actually since dropped to less than fifty percent of it is high, while the world still attempts to understand exactly what specifically is bitcoin, as well as how it will certainly wind up clearly useful Continue reading >>
Using The Blockchain Api To Determine The Time Left Until The Next Bitcoin Block Halving
Share your email with us to receive updates on Blockchain and the industry. Countdown clock image via Tony Webster/Wikimedia Earlier this year, we did a featured spotlight on a bitcoin developer Kyle Honeycutt who does tutorials focused on helping explain how to build exciting new tools leveraging the Blockchain suite of services, including our API . Kyle has impressed us again, by coming up with a novel way to calculate the amount of time left until the bitcoin block reward halving happens in real-time. For those unfamiliar with the bitcoin halving, here is a quick explanation pulled from our 10 commonly used bitcoin terms article. Bitcoins have a finite supply, which makes them scarce. The total amount that will ever be issued is 21 million. The number of bitcoins generated per block is decreased 50% every four years. This is called halving. The final halving will take place in the year 2140. If youd like a deeper understanding of the bitcoin halving, you can read Block Reward Halving: A Guide written by Vitalik Buterin, who is the founder of Ethereum. There is also another more recent article which talks about the different aspects of the bitcoin halving which is a good read. Kyle, who enjoys teaching people how to setup tools and services from top-to-bottom, walked users through a tutorial using the Blockchain Stats page which parses the data into JSON format for developers who want to programmatically pull the data. We are re-sharing the tutorial that Kyle published , since its a practical learning tool for developers. This walkthrough will give you a step-by-step on how to build out a real-time bitcoin halving display that you can put on your website, or maybe projected in your office. Step 1:Goto PHPfiddle.org so you can execute PHP code without having a server Continue reading >>
Ethereum Classic Community
Vitalik Buterin and The Ethereum Foundation create the first blockchain-based turing-complete smart contract platform Slock.it construct TheDAO Ethereum Contract; a security audit is completed by Dejavu TheDAO smart contract is deployed; members of the public send it value in return for DAO tokens Slock.it announce a $1.5 Million USD proposal, paid in Ether by the crowdfund, 'to guarantee the integrity of The DAO' On the last day of the crowdsale, DAO curator Vlad Zamfir calls for a moratorium on TheDAO, citing many game-theoretical security issues The crowdsale completes to become the world's largest and raising an incredible $150 Million USD Peter Vessenes publicly discloses the existence of a critical security vulnerability overlooked in many Solidiy contracts Stephan Tual publicly claims that TheDAO funds are safe despite the newly-discovered critical security flaw Ether is slowly and silently drained from TheDAO as the re-entry bug is applied The price of Ether is slashed in half as Griff Green announces that TheDAO has been hacked TheDAO's splitting mechanism gives around a month for a solution to be found that recovers the funds; Foundation and community developers race to implement a soft fork A group of 'white-hat' hackers secure 70% of TheDAO funds but protocol-level action is required to save the remaining 30% split by the hacker The Ethereum Foundation releases a 'Soft Fork' client to censor transactions coming from the hacker; mining pools vote to enable it by lowering gas limit Critical Denial of Service flaws are found in the Soft Fork implementation, miners quickly decide not to use it Many days of intense arguing goes on in the Ethereum community about the pros and cons of implementing a Hard Fork The only remaining option is a controversial Hard Fork. Continue reading >>
Ethereum's Block Reward Might Be Reduced From 5 Eth To 1.5 Eth
Ethereum's Block Reward might be reduced from 5 ETH to 1.5 ETH EIP186 proposes to decrease ETH mining rewards. FREE 1,000 mBTC daily for LuckyJack winners 12+ exclusive games The Bitcoin Casino by Primedice Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here. Seems to me this would be an incentive to buy ETH now, and hoard them. If there is a coin vote, one could use the coins to vote for the reduction in block reward, thereby increasing the chance of supply constraint and an increase in the price. So developers and speculators will like this idea, but miners will get shafted. FREE 1,000 mBTC daily for LuckyJack winners Yeah basically the eth foundation is probably pissed off their ETH is worth less from the Summer and they are blaming it on the miners since probably 50% of all the eth mined daily is dumped daily. 1 Bitcoin$15,487,372,567$963.3816,076,162---- BTC$76,229,3001.02% 2Ethereum$720,712,570---$8.2487,474,566---- ETH$10,170,0003.68% 18 Zcash$16,729,309----$48.42345,506-------- ZEC$503,671-0.08% 87 million eth coins that = common 345 thousand Zcash coins that = rare so a block size reduction will not make eth rare Please support sidehack with his new miner project Send to : 1BURGERAXHH6Yi6LRybRJK7ybEm5m5HwTr I mine alt coins with I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions. Looks like they changed EIP 186 again and made the Block reward 2 ETH instead of 5 ETH. Now it all boils down to a vote whether it gets accepted or not. Majority of ETH holders are NOT miners so there is a good chance this might pass since it will at least temporarily create a price pump. FREE 1,000 mBTC daily for LuckyJack winners Quote from: adaseb on Janu Continue reading >>