Will the block reward continue halving beyond 1 satoshi if bitcoin precision goes beyond 8 decimal places?


The "8 decimals limit" is not that, but rather bitcoins are a human readable representation for 100,000,000 satoshi: The software natively computes in satoshi.

What happens under the hood is that the limit of satoshi that a miner may claim by creating a block halves. Obviously, only whole satoshi can be claimed, (as currently they are indivisible), so after block 6,930,000 when the reward limit drops from 1.164… satoshi to 0.582… satoshi per block, one cannot claim a whole satoshi anymore, as it would be greater than the limit.

If a new smallest unit of Bitcoin would have been introduced by then, we could continue to claim parts of a satoshi until the reward limit drops below that new unit.

In fact, we will be losing out on part of a satoshi in every block starting with block 2,310,001 when the reward drops from 9,765,625 satoshi to 4,882,812.5 satoshi in approximately...

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The Bitcoin block reward refers to the new bitcoins distributed by the network to miners for each successfully solved block.

How is the Block Reward Determined?

Satoshi Nakamoto, Bitcoin’s creator, set the block reward schedule when he created Bitcoin. It is one of Bitcoin’s central rules and cannot be changed without agreement between the entire Bitcoin network.

The block reward started at 50 BTC in block #1 and halves every 210,000 blocks. This means every block up until block #210,000 rewards 50 BTC, while block 210,001 rewards 25. Since blocks are mined on average every 10 minutes, 144 blocks are mined per day on average. At 144 blocks per day, 210,000 blocks take on average four years to mine.

Total circulation will be 21,000,000 coins. It’ll be distributed to network nodes when they make blocks, with the amount cut in half every 4 years. first 4 years: 10,500,000 coins next 4 years: 5,250,000 coins next 4 years: 2,625,000 coins next 4 years:...

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Looking to raise startup funding? You need to pitch to venture capitalists like me, right? Well no: not anymore.

Initial Coin Offerings, or ICOs, have rapidly emerged onto the startup scene as an alternative way for founders to raise capital directly from the community without suffering any dilution.

The $3.8bn cryptocurrency bubble is a huge deal. But it could break the blockchain

By ‘tokenising’ their organisations – that is, designing a ‘token’, which acts as a unit of exchange in that technology’s ecosystem and is often available for secondary trading – founders can now raise funds quickly, in a crowdfunded model, with incredible network effects. Communities of people that hold a startup’s tokens are incredibly motivated not only to adopt its products but also to extol the product’s benefits to others.

This new innovation is only possible today because of the underlying blockchain protocols themselves. In fact if you ask anyone in the field what is the...

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Home >> Ethereum >> Ethereum Block Reward Halving

Thanks a lot for involving our website in your look for "Ethereum Block Reward Halving" online. The Bitcoin took the globe of finance by shock when its worth raised by 15,000% within four years, as the price per Bitcoin surged from $0.08 to $1,200! The underlying demand for an independent digital currency, not managed by a central government which is subjected to their quantitative easing and inflation, made Bitcoin an imminent hazard to standard fiat currencies. Today, Bitcoins prospects as the future of online currency are more safe and secure than ever before. Bitcoin Will Survive Volatility All purchases in Ethereum (and various other cryptocurrencies) are encapsulated within discrete blocks.

These blocks approach the batches of purchases which banks send per other, other than in Ethereum they take place every 15 secs (usually). Blocks are recognized by their elevation, beginning with 0 and also...

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As the block mining reward halving event approaches, many people in the bitcoin space are excited because of the potential for an increase in the digital currency's price.

One miner, though, has expressed serious concern that, when the drop in the block subsidy occurs, it could trigger a chain of events that could lead to an inevitable hard fork.

Chandler Guo is the co-founder of Bitbank, a China-based digital currency company that runs one of the largest mining operations in the world, BW. On average, BW.com accounts for approximately 10% of the total hashrate, an impressive feat considering it launched only two years ago.

Guo said he fears that if the price of bitcoin does not appreciate significantly before or immediately after halving, too much hashrate will drop off the network due to unprofitable mining, making transaction verification virtually impossible.

He said:

“If the price doesn’t go up very quickly, up two times, it means a...

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The Halving just happened, We’re all still alive, and so is Bitcoin! The first 12.5 BTC block was mined by F2Pool (the largest mining operation in the world) at 17:46 (GMT). Bitcoin price and hashrate seem to be stable after a 5% price drop just half an hour before the Halving.

The speculation is over and any dramatic changes regarding the value of Bitcoin will probably happen within the coming months if they occur at all.
Bitcoin saw some volatility in the last few months, which was overall positive considering BTC rose from $420 to $630 in a period of 3 months, reaching the $789.78 (Data via Bitfinex) mark on the 16th of June.

So what does the future hold for the 12,5 block reward Bitcoin? Some worry the block reward reduction will cause a big portion of miners to abandon the industry, thus slowing the Bitcoin blockchain, which would in turn cause the price to drop and drive even more miners out of the business, in a downward avalanche that could end...

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Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. As such, it is more resistant to wild inflation and corrupt banks. With Bitcoin, you can be your own bank.

If you are new to Bitcoin, check out We Use Coins and Bitcoin.org. You can also explore the Bitcoin Wiki:

How to buy bitcoins worldwide
Buying Reddit Gold with bitcoin

Will I earn money by mining bitcoin?

Security guide for beginners - (WIP)

Community guidelines

Do not use URL shortening services: always submit the real link. Begging/asking for bitcoins is absolutely not allowed, no matter how badly you need the bitcoins. Only requests for donations to large, recognized charities are allowed, and only if there is good reason to believe that the person...
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That the block chain cannot be easily forked represents one of the central security mechanisms of Bitcoin. Given the choice between two block chains, a Bitcoin miner always chooses the longer one - that is to say, the one with the more complex hash. Thusly, it ensures that each user can only spend their bitcoins once, and that no user gets ripped off.

As a consequence of the block chain structure, there may at any time be many different sub-branches, and the possibility always exists of a transaction being over-written by the longest branch, if it has been recorded in a shorter one. The older a transaction is though, the lower its chances of being over-written, and the higher of becoming permanent. Although the block chain prevents one from spending more Bitcoins than one has, it means that transactions can be accidentally nullified.

A new block chain would leave the network...

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