Timeline for Does the block reward get halved every 4 years regardless of hardware advancements?
Current License: CC BY-SA 3.0
12 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Oct 28, 2013 at 10:20 | vote | accept | Gaia | ||
| Oct 28, 2013 at 6:28 | comment | added | Meni Rosenfeld | @Gaia: If the hashrate is static, the time will be pretty much exactly 4 years. Only if the hashrate goes down it can take more than 4 years. Note that the network only sees the hashrate, it doesn't know if increases in hashrate come from technology advancement or more money poured into mining. | |
| Oct 28, 2013 at 4:01 | comment | added | Gaia | I think you do understand what I'm asking. I get that if HW progression is geometrical, we could eventually end up with 2 instead of 4 years. What if HW doesn't progress much, could the 4 become 5 or 6 years? This is the question "So the 4yrs can be affected only down, not up?" | |
| Oct 27, 2013 at 22:20 | comment | added | Meni Rosenfeld | @Gaia: Not sure what you're asking. As I explained, the more rapidly the hashrate is increasing, the less time halving would take. The change is very small for any reasonable hardware progress. Note that to get to 2 years you need the hashrate to multiply by 4500000000000000 every year. | |
| Oct 27, 2013 at 16:46 | comment | added | Gaia | Yes, I meant 2 not 4 yrs. So is the answer now "no, the halving period does vary according to advancements (or lack thereof) in hardware" ? | |
| Oct 27, 2013 at 7:52 | comment | added | Meni Rosenfeld | @Gaia: 2 years, not 4. Anyway, if hashrate is going up it will take less time, if hashrate is going down it will take more time. | |
| Oct 27, 2013 at 5:35 | comment | added | Gaia | hmm, just saw your edit: "if it doubles every week, it will take only 4 years". So the 4yrs can be affected only down, not up? | |
| Oct 27, 2013 at 5:34 | vote | accept | Gaia | ||
| Oct 27, 2013 at 5:37 | |||||
| Oct 27, 2013 at 5:28 | history | edited | Meni Rosenfeld | CC BY-SA 3.0 |
added 56 characters in body
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| Oct 27, 2013 at 5:28 | comment | added | Meni Rosenfeld | @Gaia: Correct. | |
| Oct 27, 2013 at 5:16 | comment | added | Gaia | so the answer is yes, it will get halved approximately every four years, regardless of hardware advancements or lack thereof. do i have this right? | |
| Oct 27, 2013 at 5:10 | history | answered | Meni Rosenfeld | CC BY-SA 3.0 |