Why Reward Size 50 (21 Million Coins)?


What deflationary problems?

Banksters have successfully convinced us that deflation is bad it seems. Don't believe it because that little and supposedly good inflation has destroyed the value of the dollar very effectively.

Deflation is not bad and quite normal with sound money. With technological innovation occurring everywhere sound money will buy you more and more as time passes.

Deflation can be a practical problem. Think for instance about gold. It can become too expensive for people to buy, hold and handle. Gold is divisible but compared to Bitcoin the divisibility is very poor. The picture below shows how the divisibility can be improved. It shows 50g of gold that is created in such a way you can break it up into smaller pieces. Very low tech.

Bitcoin is very divisible, down to eight decimal places. So there are actually 2,099,999,997,690,000 (just over 2 quadrillion) maximum possible atomic units in the Bitcoin system.

So the...

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Bitcoin is an electronic peer-to-peer cash system.

Bitcoin enables people to electronically send value directly to each other.

How does this work?

Each time value is sent to another party that is a transaction.

Bitcoin records these transactions in blocks.

A block is a record of some or all of the most recent Bitcoin transactions that have not yet been recorded in any prior blocks.

They could be thought of like the individual pages of a city recorder's record book (where changes to title to real estate are recorded) or a stock transaction ledger.

New blocks are added to the end of the record (known as the block chain), and can never be changed or removed once written

Each block memorializes what took place in the minutes before it was created.


Each block contains, among other things, a record of some (blocks have size caps) or all recent transactions, and a reference to the block that came...

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One comparison is for 10 min Bitcoin blockreward (=target design value), the other is based on Bitcoin's de-facto avg. block time of 9.4 min.

I normalized the Monero blockreward in the diagrams to the respective Bitcoin time (10 min or 9.4 min) for best comparability!

Some takeaways:

Monero's block reward per any given time period (per minute or per day) is always higher than Bitcoin's, except for the time period between 2019 and 2027/2028 (almost one decade).

At the moment (Sep 2016) the Monero block reward is still more than 50 coins per 10 minutes, i.e. still higher than Bitcoin's initial block reward (in April 2014 Monero started with >160 XMR per 10 minutes).

In 2019 XMR Money Supply will get close to Bitcoin Money Supply (gap < 1 Million coins), then the gap will grow again to nearly 2 Million coins by 2027/2028, before it will shrink again.

In 2040 we see the intersection point of identical coin supply for Monero and Bitcoin (both...

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As Artefact2 mentioned, Bitcoin uses fixed-point math to calculate the block subsidies. So, ignoring the unspendable genesis block, the sundry lost coins and unclaimed rewards, the maximum number of bitcoins is 20999999.9769 BTC.

I found that number through the following python program:

COIN = 100 * 1000 * 1000 nSubsidy = 50 * COIN nHeight = 0 total = 0 while nSubsidy != 0: nSubsidy = 50 * COIN nSubsidy >>= nHeight / 210000 nHeight += 1 total += nSubsidy print total / float(COIN)

It's intended to mirror this code from the Bitcoin client:

int64 static GetBlockValue(int nHeight, int64 nFees) { int64 nSubsidy = 50 * COIN; // Subsidy is cut in half every 210000 blocks, which will occur approximately every 4 years nSubsidy >>= (nHeight / 210000); return nSubsidy + nFees; }

Of course, it only differs from 21 million BTC by only 3 bitcents, so the difference isn't...

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What is Litecoin?

Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world. Litecoin is an open source, global payment network that is fully decentralized without any central authorities. Mathematics secures the network and empowers individuals to control their own finances. Litecoin features faster transaction confirmation times and improved storage efficiency than the leading math-based currency. With substantial industry support, trade volume and liquidity, Litecoin is a proven medium of commerce complementary to Bitcoin.


- 50 Coin reward per block
- 21 million coins will be available
- Block target is 2.5 minutes so a new block is generated every 10 minutes on average
- Difficulty adjusts every 2016 blocks, approximately every 3.5 days
- Hashing protocol is Scrypt
- Launch Date: October 7th, 2011


Find general information as well as a...

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Video transcript

In the last video, I talked about how Bitcoin transactions are really incorporated into a global and a publicly accessible ledger of sorts that we call the transaction block chain. And this work is actually carried out by nodes in the Bitcoin network that are known as Bitcoin miners. And as a reward for all that effort, especially since some of the computational heavy lifting is done by these Bitcoin miners, they're basically awarded a certain number of Bitcoins for their efforts. And this happens by the miners effectively constructing what's called a coinbase transaction, and then basically assigning themselves Bitcoins within that transaction. So in a sense, then-- and this is kind of intriguing-- Bitcoins are effectively generated almost out of thin air during this process. And of course, if you see something like that, that might raise in your mind the question of whether there is ever an upper limit to the Bitcoin money supply. And fortunately, the...

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Catcoin launched on December 24th 2013 as a scrypt version of Bitcoin, with only 21 million coins to be mined at 50 coins per 10 minute blocks. We are an open community that wishes to use P2P tech to better the lives of cats and their humans.

How to get started

To get started with Catcoins choose from one of the wallets in the sidebar. You can also build your own from source. Once installed, allow it to synchronize with the network. (This may take some time, be patient.) You can now generate your own Catcoin address and start sending and receiving Catcoins.

How do I get Catcoins?

The easiest way is to purchase Catcoins through one of the exchanges in the sidebar. You can also mine Catcoins, a list of pools is also available in...

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Investors who made bullish bets in bitcoin near its nascence may be getting the last laugh, as the digital currency, which has drawn skeptics, has raced to repeated records in recent trade.

The value of one bitcoin BTCUSD, +3.78% shot to nearly 2,200 for the first time on Monday. Trading at 2,195,81:

The unmitigated ascent for bitcoin comes as virtual currencies broadly have been gaining more prominence, putting them on a tear since last year, with cryptocurrency bulls pointing out stratospheric climb for bitcoin, compared with other traditional investments.

One “regret” chart sent around on Monday by Jeroen Blokland, portfolio manager on the Robeco Global Allocation team, shows how a $1,000 investment in bitcoin in July 2010 would be worth more than $35 million....

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Bitcoin might currently be getting the lion’s share of media attention, as far as digital currencies go. But it’s not the only form of electronic money being mined, traded and spent.

Let’s meet some of the other digital currencies making the rounds online:

According to the Bitcoin Forum, bbqcoin was “forgotten after (a) 51% attack on launch, now revived and active … super fast version of LTC (litecoin).”The site’s operator – Bitcoin Forum user CaptChadd – launched a new bbqcoin thread on the forum on May 7, 2013, concluding his message by saying, “I consider BQC to no longer be a joke but a real cryptocurrency only with a dry and sarcastic sense of humour … and a great taste. J”

Making its debut in early May 2013, chinacoin (CNC) is a litecoin-based currency that uses the scrypt password-based key derivation function. It’s produced in 60-second blocks with 88 coins per block at the moment. That amount is expected to halve after 2,628,000 blocks (about five...

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Bitcoin’s price versus the US dollar is the most searched keyword for Bitcoin, along with “What is Bitcoin?” The Bitcoin price is important under many circumstances, primarily exchange rates with any fiat currency, which are based on US dollar rates to some extent.

Now that Bitcoin’s price has more than doubled since January, the Bitcoin trolls and haters are noticeably silent this holiday season (funny how that works). Now that the good times are rolling, again–for Bitcoin as a global currency and an exchange of value–how far can this go? What is the ceiling for “the future of money”?

Some in the mainstream have actually been beating the drum in favor of Bitcoin as a long-term investment. Henry Blodget of Business Insider used Bitcoin’s peaking value (back during the Mt. Gox bubble in the fall of 2013), to pontificate a $1 million value down the road. That article received over 100k views, at a time when Bitcoin couldn’t have been more exciting to the mainstream,...

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- The U.S. Senate voted overwhelmingly Friday to increase the reward for Osama bin Laden's capture, or for information leading to his capture, to $50 million. The increase would be mandated by an amendment to a pending Defense Department authorizations bill.

Current law limits federal rewards to $25 million except when personally authorized by the Secretary of State "if he [or she] determines that offer or payment of an award of a larger amount is necessary to combat terrorism or defend the Nation against terrorist attacks."

The amendment, proposed by Sen. Bryon Dorgan (D-N.D.) and passed 87-1 Friday morning, adds language requiring the Secretary of State to authorize a $50-million reward in bin Laden's case. It also requires that the secretary of state and defense secretary submit progress reports on the hunt for bin Laden to Congress every 90 days.

The amendment will be tacked on to the National Defense Authorization Act covering FY2008....

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The government has offered $25 million for information on the terrorist leader.By Ben Rooney, staff reporter

NEW YORK (CNNMoney) -- The photograph of Osama bin Laden on the FBI's Most Wanted Terrorists list has a new caption: Deceased.

But it was unclear Monday how much, if any, of the up to $25 million in reward money offered on the terrorist leader has been granted.

The man behind the worst terrorist attack in U.S. history was killed Sunday by American forces in Pakistan, in what President Barack Obama called "the most significant achievement to date in our nation's effort to defeat al Qaeda."

In the 10 years since the 9/11 attacks, the CIA, the FBI and other intelligence agencies have worked to locate bin Laden, who was found living in a compound outside of Islamabad.

The use of reward money has become an important asset in the government's fight against global terrorism.

The Rewards for Justice program, run by the U.S. State Department's Bureau...

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He's Australian, around half a centimetre long, fairly nondescript, 300 million years old, and he's currently causing astonishment among both entomologists and palaeontologists. The discovery of a beetle from the late Permian period, when even the dinosaurs had not yet appeared on the scene, is throwing a completely new light on the earliest developments in this group of insects. The reconstruction and interpretation of the characteristics of Ponomarenkia belmonthensis was achieved by Prof. Dr Rolf Beutel and Dr Evgeny V. Yan of Friedrich Schiller University Jena (Germany). They have published this discovery together with beetle researcher Dr John Lawrence and Australian geologist Dr Robert Beattie in the current issue of the Journal of Systematic Palaeontology. It was Beattie who discovered the only two known fossilised specimens of the beetle in former marshland in Belmont, Australia.

"Beetles, which with nearly 400,000 described species today make up almost one-third of...

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