https://preview.redd.it/sxiftidp8cz41.png?width=1343&format=png&auto=webp&s=645584b9971068f347f80b63016bf229e45b0bbf Hello everyone, thank you for your continued interest and support. In the past two weeks, various tasks of TokenClub have been progressing steadily. The product development and community operation progress this week are as follows: 1. TokenClub Events 1)Binance blockchain live streaming program “Block 101” joins TokenClub APP TokenClub teamed up with Binance “Block 101” to host a series of live broadcast events. In the past two weeks, the big brothers such as the CEO of Feixin, Cobo co-founder Shenyu, and IOST co-founder Terry visited the TokenClub live broadcast room. See live summary. “Block 101” is a live broadcast of dialogues launched by Binance New Media Marketing Team, hosted by Jiayi, Anna, Liuliu, Yingge, Sisi, Qiqi, Doris, etc. Here will invite entrepreneurs in the industry, investment giants, opinion leaders, trading bulls or ordinary people with stories. Every Monday to Friday, with you in the TokenClub live room. https://preview.redd.it/2ftnirwq8cz41.png?width=1080&format=png&auto=webp&s=88f45a13ad522f8d5139a703cbf2f337720907f2 https://preview.redd.it/qubkprdr8cz41.png?width=690&format=png&auto=webp&s=878a619dc582b7c2bb6d660395be4b350cb74983 2)Participate in poster forwarding, draw red envelope prize When Bitcoin halves, TokenClub launches a poster forwarding red envelope campaign. On the day of the event, forward the poster to Twitter and the telegram group, and upload a screenshot to have the opportunity to extract the TCT red envelope award ~ 3)Participate in live streaming interactive questions and win mysterious gift events From May 11th to May 15th, TokenClub launched a live question and prize draw event. During the event, watch the block 101 live broadcast and interact with questions during the live broadcast, you will have the opportunity to get a mysterious gift from TokenClub. https://preview.redd.it/rcx8yett8cz41.png?width=1080&format=png&auto=webp&s=4e2541c0d893e20725c54d76ad96634a79cfb8fd 3)TokenClub’s self-media Bilaoye was invited to participate in AMA a. On May 7th,Bilaoye was invited by UPChain to conduct an AMA with the theme of “Half Countdown, Where Will the Market Go” in the Chains community. AMA article link: http://public.tokenup100.com/page/article.html?articleId=f1db8c6bfaa94886bbdd863ec9908252&from=timeline&isappinstalled=0 b. On May 8th, Bilaoye was invited by Golden Finance to conduct an AMA with the theme “Bitcoin Breaks Over US $ 10,000 and Will Do This in Half”. Review link: https://m.jinse.com/live/topic?id=11813&from=singlemessage&isappinstalled=0 C. On May 14, Bilaoye was invited by Cailu Finance to conduct an AMA with the theme of “Correct Postures for Depositing Money” in the Cailu community.Review link: https://preview.redd.it/47prnpkv8cz41.png?width=1080&format=png&auto=webp&s=5baa2e06ec09ecdd60adb609bac247333059c016 2.TokenClub Live 1) Summary Recently, Feng Yuqing, the director of Yicai Global America, the first Chinese reporter to interview Buffett, the organizer & host of the First Financial New York Forum; a world-renowned financial expert, a professor of finance at the Cheung Kong Graduate School of Business, and the director of the finance department -Cao Huining; ARPA founder Felix, SWFT Blockchain one-stop currency exchange cross-chain platform operation in Greater China & BD leader-Ye Fei, mining big man Binxin Mining CEO “Feige”, contract emperor co-founder Xiaoding, AlchemyPay co-founder Shi Xiang, financial expert & first-line trader Xu Zhe, Huobi Key Account Manager-Xiaotong, Roark Group & Bitribe & 499 Block founder sky, Cobo co-founder Shenyu, DappReview CEO Niu Fengxuan, IOST co-founder Terry; and TokenClub blockchain and cryptocurrency investment strategy senior expert-Zao Shen talks with you about the blockchain ~ On May 6, Block 101 Sisi Dialogue Felix, the founder of the hard-core technical team on the blockchain, ARPA Felix, the theme is “The Wall Street Battle of the Wall Street Elite”. In this live dialogue, the resume is dazzling. , The young man who was free to switch between “Yangchun Baixue” and “earthed gas” from the team’s initial heart chat to his investment strategy to the judgment of the entire currency market, his fanaticism of rock seems to explain a series of “adventure” options- — Longing for a more free and innovative world. https://preview.redd.it/7fahx79x8cz41.png?width=1080&format=png&auto=webp&s=b0282a4fb4730d2898b15326d42e0460a3b92f10 On May 6th, TokenClub invited the one-stop SWFT Blockchain currency exchange cross-chain platform Greater China operation & BD leader-Ye Fei as a guest to “Jingjing at 8 o’clock” live broadcast, bringing us “flash exchange in the future block The theme of “Chain Payment Ecosystem” is shared. Mr. Ye made a detailed interpretation of SWFTC, and revealed the development plan of SWFTC, and exchanged questions and answers with fans enthusiastically. https://preview.redd.it/27thi7cy8cz41.png?width=1080&format=png&auto=webp&s=df20cc7176e671942d85edf6b0790c0b8020663f On May 7th, Block 101 Luna talked to the CEO of the mining industry, who is most familiar with KTV, Kexin Mining, “Fei Ge”. Liu Fei talked to Bin An Luna, he counted his mining “stepping on the pit road” “, Talking about halving the market and investment experience, talking to the second half, wearing a red Polo shirt, he began to persuade everyone to learn more in the KTV in Beijing at night, and recommended books. https://preview.redd.it/4nhtp1sz8cz41.png?width=1080&format=png&auto=webp&s=03b8e1da731eefd1d57f65e3d1fa337e7eaafd66 On May 8, the TokenClub live column-”Professor had an appointment” shared the theme: “BOC crude oil treasure and financial derivatives market”. In this issue, Professor Cao invited the first U.S. Global Director of the United States, the first Chinese reporter to interview Buffett, the organizer & host of the First Financial New York Forum, and Columbia University Master of International Relations Feng Yuqing to share with guests on Chain, digital currency financial derivatives market, etc. have done a detailed exchange analysis. https://preview.redd.it/4zgaxsw09cz41.png?width=1080&format=png&auto=webp&s=a88fc93057a631cc152b225dfb186385abaffbd6 On May 8th, block 101 was led by Binance BD’s head Li Jiayi, who talked about contract emperor co-founder Xiao Dingdang. He is an old code farmer who is known for his futures contract operations. He wrote a 10-year code, and the front end Everyone is familiar with it, and it is hard to say anything on the line of speech. Frankly, he talked from his fortune history to the story of the endless number of contract circles, and shared his trading iron law with everyone: there must be a stop loss; must practice more and try more. https://preview.redd.it/90hyrg639cz41.png?width=1080&format=png&auto=webp&s=ded092ee130fa72d7b38e2ee9ca9b4d67d382c71 On May 9th, Zaoshen is coming ~ The sharing theme of this issue is: The Yangtze River will push back and forth, and one wave will be more than one wave. Speaking of the “Houlang” hot event, Zao Shen mainly analyzed the halving market with everyone in detail, to see how many opportunities there are and what strategies to choose. Soul asked: How much money did you make in this wave of quotes? https://preview.redd.it/dwh2ojp49cz41.png?width=1080&format=png&auto=webp&s=466850dcc4d01e49872b144e49369c859256a67c On May 11, Block 101 was discussed by Binance Qiqi Dialogue AlchemyPay co-founder Shi Xiang, the former vice president of Zhongan Technology and the founder of Micro Index shared with you the experience of dealing with overseas regulators: supervision is not actually strong Groups, regulation will strike you because you are worried about doing bad things, but as long as you are willing to actively communicate, regulation usually gives a tolerance period. For more content, please move to the live room. https://preview.redd.it/grgnfkw59cz41.png?width=1080&format=png&auto=webp&s=83afa9faf03d4da0b26fc85f9e0c562127ca9f83 May 12, Exclusive: Huobi Global & Knowing Daniel Interpretation of “Physical Currency, Debt Currency to Encrypted Digital Currency”. The key account manager of Huobi Global has a conversation with financial expert and front-line trader Xu Zhe, talking about physical currency, debt currency and encrypted digital currency. Work is tired enough, the market is already exciting enough, pick Xu Da Tucao various currencies, teach you to return all the money. The value of the young lady’s face is a feeling of emotion. https://preview.redd.it/8vsehsc79cz41.png?width=1080&format=png&auto=webp&s=b305df0b0c51b339ef109d8041da4ae05a7f7fd0 On May 12, Block 101 was founded by Binance Thinking, the founder of Roark Group, Bitribe, and 499Block. Sky, a science and technology man from Tsinghua University and MIT, has the title of “Coin Circle Zheng Kai”. Sky said that starting a business in the blockchain industry is like drifting in the turbulent Amazon River. If you do n’t believe that you will eventually reach the sea, you will be thrown off. Sky believes that Bitcoin is essentially a consensus based on time. Halving is like escaping the monsters, and each level increases the consensus. https://preview.redd.it/gc9mgni89cz41.png?width=1080&format=png&auto=webp&s=2842c60a520c27993f8b4d1c611e112514352482 On May 13th, Block 101 Luna talked to F2Pool and Cobo co-founder Shenyu, and talked about the “new” story of Bitcoin. Leo ’s Godfish talked to us about the monopoly of computing power, mining pool operations, halving and Cobo ’s future development goals. He said that 80–90% of personal assets are Bitcoin, and about 10% of Ethereum and other Strange coins from mining. It is called “the first segment of the coin circle” because “more pits are filled, so in the end each pit becomes a stalk.” https://preview.redd.it/rga6ean99cz41.png?width=1080&format=png&auto=webp&s=243c7aae2d8144621e913f3c8615465eea1d42e4 On May 14, Niu Fengxuan, CEO of DappReview, talked about “how ordinary people make money through Dapp”. Niu Fengxuan graduated from Fudan and Stanford. He is a serious game enthusiast. He has written many in-depth game evaluations and is an early participant of Dapp. He said that many people think that the biggest application of blockchain is speculation, but the technology ultimately serves products and applications. In the long run, if blockchain can really bring changes and innovations to the world technically, then it must be C-side users should feel it in a more friendly way in other fields. https://preview.redd.it/zx38u5qa9cz41.png?width=1080&format=png&auto=webp&s=da5a65164e1ee8a3b91e446bdce8c5c7e905990f On May 15th, Block 101 Yingge talked to IOST co-founder Terry and talked about “The Blockchain Ideal of Princeton Schoolmaster”. Terry told us about his sad history, happy history, and experience and experience of mining from college mining to graduate school to entrepreneurship, talked about the development direction of the blockchain market, and interacted with fans. https://preview.redd.it/uats2yqb9cz41.png?width=1080&format=png&auto=webp&s=aba5587f0a96b0e31b3b205ea0d7a48a03664dd5 On May 16th, senior expert Zao Shen brought a live broadcast on the theme of “Depth Is Insufficient In Operation, How To Play With Crash”. In this live broadcast, in addition to analyzing the macro level of the economy, Zao Shen also focused on sharing The specific operation skills emphasized the principle of buying and selling, and finally commented on the hot events such as the recent Federal Reserve announcement that it will not fall to negative interest rates. 3.TokenClub operation data -Live data: 13 live broadcasts in the past two weeks, with over 600,000 views. TokenClub hosted a total of 835 live broadcasts with a total of 44.25 million views. -Binary trade data: In the past two weeks, guess the rise and fall to participate in a total of 1060 times, the amount of participation exceeded 2 million TCT. At present, it is guessed that the rise and fall function has participated in a total of 1.11 million times, with a cumulative participation amount of 496 million TCT. -Chat data: In the past two weeks, a total of 28,950 messages have been generated. A total of 4.83 milliom messages have been launched since the function was launched. -Mini-game data: The mini-game has participated in a total of 7,830 times in the past two weeks. A total of 1,66 million self-functions have been online. -Cut leeks game data together: Since the game was launched, the total number of user participation in the game was 954,364 TCT total consumption was 6,27 million gift certificate total consumption was 15,53 million and TCT mining output was 160,48. -TokenClub KOL data: Over the past two weeks, the total reading volume of the BTCGrandpa article has been viewed by more than 300,000 people. -Social media data: At present, the number of Weibo official accounts is 17,972 and the number of Twitter followers is 1310, and we have opened the official Medium account this week, welcome to follow. -Telegram official group data: In the past 2 weeks, there were 310 chats in the group, and the total number of Telegram official groups is currently 2971. -Medium data: Medium official account u/TokenClub has published 1 excellent articles, official announcements and updates are published in English, welcome to follow. 4.Communities 1)Overseas community TokenClub held an event for forwarding Twitter and telegram group chats for overseas users. Bitcoin halved in less than two weeks, overseas users are more active in the telegram group, and some friends are more concerned about Binance Block 101 live broadcast, aggregation exchange, TCT usage and other issues, the administrator responded in time.On May 12th, when Bitcoin was halved, TokenClub organized a forwarding Twitter, telegram group chat prize event and participating in a live question asking interactive prize event for overseas users. There are many live broadcast events in the near future. The live broadcast poster information will be released to overseas users as soon as possible. The follow-up TokenClub will translate and broadcast high-quality live broadcast content to Twitter and Medium. Bitcoin halved, overseas users are more active in the telegram group, and some partners are more concerned about block 101 live broadcast, bitcoin future price trend, TCT usage and other issues, the administrator responded in time in the group. https://preview.redd.it/msi423re9cz41.png?width=1080&format=png&auto=webp&s=f0c453445cea34b8cba807e8bfa237dabfe9fb24 2)Domestic community Last Friday, a holiday, the community opened the red envelope rain event, and brought a sincere gift to everyone while relaxing in the holiday. At the same time, it also sent the most sincere blessings to all mothers in the community on Mother’s Day. Thank you for your long-term support and help to the Orange Club community. The third week of the second 100-day fixed investment plan held this week has been awarded. The participation of this event is still quite positive. This week, the bitcoin halving market was also opened in advance. If it starts according to the first day The small partners participating in the fixed investment should now have a certain floating win, so we adopt the correct cycle investment strategy to believe that it can bring unexpected benefits to everyone. On May 9th and May 16th, TCT Fortune Free Academy carried out red envelope party activities as scheduled. In the event, in addition to GF red envelopes, students were reminded that there may be a callback risk after the pie halving, and short-term profits are available. On the evening of May 3rd and May 10th, TCT Fortune Free Academy carried out the 51st and 52nd week sign-in sweepstakes, and rewarded the small TCT partners who had always insisted on signing in. In these two sign-in sweepstakes, the lucky friends received 20–180TCT as a reward. In addition, during the lucky draw, the college friends also actively expressed their opinions on the topic of this year’s bull market. The Leek Paradise Community Conference will continue as usual every Sunday at 20:00. During the conference, members will discuss recent hot topics, including gifts and blessings for Mother ’s Day, and the halving of Bitcoin everyone is paying attention to. At the end, the friends in the group also showed a rare enthusiasm at the first sight. It seems that the market still affects the mood. The members routinely started a red envelope rain to cheer for the participating partners and encourage everyone to maintain patience and confidence. Of course, at the same time, we are encouraging ourselves to see the community meeting next week. Come on! TokenClub volunteer community, sign in red envelopes every day, as long as you sign in every day, you can get good benefits, friends join us quickly! In the past two weeks, the community has conducted active partners. TCT has been listed on Binance、Okex、Gate.io、ZB-M、MXC、Biki、Coinex、BigOne、Coinbene、Cybex、SWFT、Loopring、Rootrex etc. TokenClub website: www.tokenclub.com Telegram：https://t.me/token\_club TokenClub App download QR code https://preview.redd.it/59o55ojn9cz41.png?width=560&format=png&auto=webp&s=b3b3f69f59d6f25c87319d7e9331435e36e27ba7
Market Analysis on April 24, 2020: The Halving Market of BTC Will Come, And the Number of New Transaction Addresses Has Reached A Peak in 2 Years
[Today's Hot Tips] 1.[The halving market of BTC will comes, and the number of new transaction addresses has reached a peak in 2 years] During the short-term change in BTC prices, trading volume returned to a high of $ 42 billion. Judging from the current market performance, performance of BTC is good, and it is a currency with a slightly higher increase in mainstream currencies. In other words, the short-term lead effect of BTC is prominent, and investors actively participate in BTC transactions, which is why the market has begun to ferment. The data show that not only the market investors trading activity is high, but also the number of new OTC trading users is increasing. That is to say, the market fermentation is the result of investors on the market and OTC simultaneously seeing more. Combined with the fact that BTC is getting closer and closer to the time of reducing production, the current activity has prompted more signals of market fermentation. 2.[Tether added 360 million USDT pre-additional issuance transactions to the additional issuance transaction pool last night] The chainsmap monitoring system of Chainsguard found that at 21:04 on April 23, Beijing time, Tether added three 120 million USDT pre-additional transactions to the ERC20 USDT additional issuance transaction pool, totaling 360 million USDT. [Today's market analysis] BTC continued to sideways above 7500 USDT in the early hours of this morning. It rose slightly at about 6 o'clock and briefly touched 7600 USDT. It is now oscillating above 7500 USDT. Mainstream currency follow the sideways, with small fluctuations. BTC is currently reported at 7520.2 USDT on LOEx Global, with an increase of 0.02% in 24h. Late last night, the pie BTC finally pulled up 5.87% at the last moment when it ran out of the runway, decisively breaking through the shock space and choosing the direction upward. The overall trend of Bitcoin's daily k-line cycle is upward, and the lower support line is still the upward support line formed by the connection of support levels 7200 and 7500. If this support line is intact, after the technical side breaks through the recent convergence pattern, the overall trend of the daily K-line cycle is upward, and the currency price may form a larger consolidation upward channel with the upward support line formed by the connection of7500 and 8000. All this stems from the fact that with the end of April, the halving effect in May increased the incremental capital for admission, and the number of account openings reached a new high. The halving of Bitcoin will definitely have a positive effect on the price in the long run, but this advantage will not be reflected in the price so quickly. From last year's Litecoin halving, it started a bad start. This year, BCH halved, BSV halved, and the price fell after halving. This will give a bad psychological hint to short-term investors who really use funds to buy Bitcoin. When the good is realized, there may be a short-term bearish, but the long-term will be good. Operation suggestions: Support level: the first support level is 7400 points, the second support level is 7200 integers; Resistance level: the first resistance level is 7800 points, the second resistance level is 8000 points. LOEx is registered in Seychelles. It is a global one-stop digital asset service platform with business distribution nodes in 20 regions around the world. It has been exempted from Seychelles and Singapore Monetary Authority (MAS) digital currency trading services. Provide services and secure encrypted digital currency trading environment for 1 million community members in 24 hours.
How much would a Bitcoin node handling 1GB blocks cost today? I did some back-on-the-envelope calculations.
1GB blocks would be able to confirm more than 5000tx/s. That would be VISA-level scale (which handles, on average, 1736tx/s). We often hear that we shouldn't raise the blocksize because then nodes would become too expensive to run. But how expensive exactly? We have the following costs to take into account:
For now, I'm going to assume a non-pruned full node (i.e. a node that stores all transactions of the blockchain) for personal use, i.e. for a computer built at home. I'll add in the calculations for a pruned node at the end, which would likely be the prefered option for people who merely want to verify the blockchain for themselves. If you don't care about the assumptions and calculations, you can just jump right to the end of this post. If you spotted any error, please inform me and I'll update my calculation.
There's, on average, one block every 10 minutes, that is 144 every day and 4320 blocks every thirty days. I was able to find a 3TB HDD for $47,50 on Amazon, that is $0.018/GB. Storing all blocks with all transactions of a month (4320GB) would be $78.96/mo. Prices for storage halved from 2014 to 2017, so we can assume that to half in 2022, thus we can reasonably assume it'd cost around $40/mo. in 2022. But would such an inexpensive hard disk be able to keep up with writing all the data? I found a comparable cheap HDD which can write 127MB/s sequentially (which would be the writing mode of Bitcoin). That would be enough even for 76GB blocks! Edit: For the UTXO set, we need very fast storage for both reading and writing. Peter__R, in his comment below, estimates this to be 1TB for 4 billion users (which would make ~46,000tx/s if everyone would make 1tx/day, so id'd require about 10GB blocks). jtoomim seems more pessimistic on that front, he says that much of that has to be in RAM. I'll add the $315 I've calculated below to account for that (which would be rather optimistic, keep in mind).
Bandwidth is more complicated, because that can't just be shipped around like HDDs. I'll just take prices for my country, Germany, using the provider T-online, because I don't know how it works in the US. You can plug in your own numbers based on the calculations below. 1GB blocks/10 minute mean 1.7MB/s. However, this is an average, and we need some wiggle room for transaction spikes, for example at Christmas or Black Friday. VISA handles 150 million transactions per day, that is 1736tx/s, but can handle up to 24,000tx/s (source). So we should be able to handle 13.8x the average throughput, which would be 1.7MB/s x 13.8 = 23.46M/s, or 187.68Mbit/s. The plan on T-online for 250Mbit/s (translated) would be 54.95€/mo (plus setup minus a discount for the first 6 months which seems to cancel out so we'll ignore it), which would be $61.78/mo. This plan is an actual flatrate, so we don't have to worry about hitting any download limit. Note, however, that we don't order bandwidth for only our Bitcoin node, but also for personal use. If we only needed 2MB/s for personal use, the plan would be 34.95€, thus our node would actually only cost the difference of 20€ per month, or $22.50/mo. Nielsen's Law of Internet Bandwidth claims that a high-end user's connection speed grows by 50% per year. If we assume this is true for pricing too, the bandwidth cost for ~200Mbit/s/mo. would go down to 12.5% (forgot how exponential growth works)29.6% of its today's cost by 2022, which decreases our number to $2.81/mo.$6.66/mo. Edit: jtoomim, markblundeberg and CaptainPatent point out that the node would have a much higher bandwidth for announcing transactions and uploading historical blocks. In theory, it would not be necessary to do any of those things and still be able to verify one's own transactions, by never broadcasting any transactions. That would be quite leechy behaviour, though. If we were to pick a higher data plan to get 1000MBit/s downstream and 500MBit/s upstream, it would cost 119.95€/mo., however this plan isn't widely available yet (both links in German). 500MBit/s of upstream would give us max. 21 connected nodes at transaction spikes, or max. 294 connected nodes at average load. That would cost $39.85 in 2022 (with correct exponential growth).
CPU/Memory will be bought once and can then run for tens of years, so we'll count these as setup costs. The specs needed, of course, depend on the optimization of the node software, but we'll assume the current bottlenecks will have been removed once running a node actually becomes demanding hardware-wise. This paper establishes that a 2.4GHz Intel Westmere (Xeon E5620) CPU can verify 71000 signatures per second... which can be bought for $32.88 a pair on Ebay (note: this CPU is from Q1'10). We'd need to verify 76659tx/s at spikes (taking the 13.8x number), so that pair of CPUs (handle 142,000tx/s) seem to just fit right in (given one signature per tx). We'd also have to account for multiple signatures per transaction and all the other parts of verification of transactions, but it seems like the CPU costs are neglegible anyway if we don't buy the freshest hardware available. ~$100 at current prices seem reasonable. Given Moore's Law, we can assume that prices for CPUs half every two years (transistor count x1.4162), so in three years, the CPU(s) should cost around $35.22 ($100/1.4163). For memory, we again have to take into account the transaction spikes. If we're very unlucky, and transactions spike and there won't be a block for ~1h, the mempool can become very large. If we take the factor of 13.8x from above, and 1h of unconfirmed transactions (20,000,000tx usually, 276,000,000tx on spikes), we'd need 82.8GB (for 300B per transaction). I found 32GB of RAM (with ECC) for $106, so three of those give us 96GB of RAM for $318 and plenty remaining space for building hash trees, connection management and the operating system. Buying used hardware doesn't seem to decrease the cost significantly (we actually do need a lot of RAM, compared to CPU power). Price of RAM seems to decrease by a factor of x100 every 10 years (x1.58510), so we can expect 96GB to cost around $79.89 ($318/1.5853) in 2022. Of course, CPU and memory need to be compatible, which I haven't taken into account. Chug a mainboard (~$150) and a power supply (~$50) into the mix, and the total would be just over $600 for today's prices. Even if mainboard and power supply prices remain the same, we'd still only have to pay around $315 for the whole setup in 2022.
I found a comparable harddrive with 6W. We need N*6W, where N is the number of hardrives (17.28 per year).
Edit: We also need fast memory for the UTXO set, so we'll take some 3x NVMe SSDs for that (see below), which require 18.6W in total.
So we'd have 129W147.6W + N*6W. Electricity cost average at 12ct/kWh in the US, in Germany this is higher at 30.22ct/kWh. In the US, it would cost $11.14$12.75 + N*$0.52 (P*12ct/kWh / 1000 * 24h/day *30days / 100ct/$), in Germany 28.06€32.11€ + N*1.30€. At the end of the first year, it would cost $20.12$21.73/mo. in the US and 50.52€54.57€/mo. in Germany. At the end of the second year, it would cost $29.11$30.72/mo. for the US and 72.98€77.03€/mo. for Germany. It increases by $8.98/mo. per year in the US and by 22.46€/mo. per year in Germany. Electricity prices in Germany have increased over time due to increased taxation; in the US the price increase has been below inflation rate the last two decades. As it's difficult to predict price changes here, I'm going to assume prices will remain the same.
In summary, we get:
Storage: $78.96/mo., $40/mo in 2022, (E:) +$315 initially for NVMe SSDs
Bandwidth: $22.50/mo., $2.81/mo. $6.66/mo. in 2022, Edit: or $95.37/mo. for additional broadcasting, or $28.25/mo. in 2022 prices.
If we add everything up, for today's prices, we get (E: updated all following numbers, but only changed slightly) $132/mo. (US), $187/mo. (DE) for the second year and $71.92/mo. $78/mo. (US), $115.79/mo.$124/mo. (DE) in 2022. It definitely is quite a bit of money, but consider what that machine would actually do; it would basically do the equivalent of VISA's payment verification multiple times over, which is an amazing feat. Also, piano lessons cost around $50-$100 each, so if we consider a Bitcoin hobbyist, he would still pay much less for his hobby than a piano player, who'd pay about $400 per month. So it's entirely reasonable to assume that even if we had 1GB blocks, there would still be lots of people running full-nodes just so. How about pruned nodes? Here, we only have to store the Unspent Transaction Output Set (UTXO set), which currently clocks in at 2.8GB. If blocks get 1000 times bigger, we can assume the UTXO set to become 2.8TB. I'll assume ordinary HDD's aren't goint to cut it for reading/writing the UTXO set at that scale, so we'll take some NVMe SSDs for that, currently priced at $105/TB. Three of them would increase our setup by $315 to$915, but decrease our monthly costs. E: However this UTXO set is also required for the non-pruned node, therefore the setup costs stay at $915. Even in the highest power state, the 3 SSDs will need only 18.6W in total, so we'll get a constant 147.6W for the whole system. In total, this is:
New Storage: $0/mo.
Bandwidth: $22.50/mo., (E:) $6.66/mo. in 2022, Edit: or $95.37/mo. for additional broadcasting, or $28.25/mo. in 2022 prices. (same as above)
Electricity: $12.75/mo. (US), 32.11€/mo. (DE)
CPU: Initially $915
In total, this is $35.25/mo. in the US and $58.57/mo. in Germany for today's prices, or (E:) $19.41/mo. (US) and (E:) $42.73/mo. (DE) in 2022's prices. Which looks very affordable even for a non-hobbyist. E: spelling E²: I've added the 3 NVEe SSDs for the UTXO set, as pointed out by others and fixed an error with exponentials, as I figured out.
After the ClockSync fix was soft forked into the network a couple of months ago, NavCoin is now compliant with the Proof of Stake v2 protocol as published by Blackcoin: https://blackcoin.org/blackcoin-pos-protocol-v2-whitepaper.pdf The next logical step is to become compliant with PoS v3. The spec can be read here: https://bravenewcoin.com/assets/Whitepapers/Blackcoin-POS-3.pdf The short version is that PoS v3 includes cold staking capability and a fixed block reward. We have already presented cold staking in NPIP002 and it has received unanimous support from the community. This is scheduled to be deployed after the Community Fund claims mechanism goes live and brings NavCoin half way to being compliant with PoS v3. This brings us to the second part of the PoS v3 spec, a fixed block reward. Why would we want a fixed block reward instead of a percentage based reward? The main consideration is that while earning stake rewards is nice for your NAV balance, the primary purpose of staking is being rewarded for validating and securing the network. With the current percentage based rewards, coins can be offline for an indefinite period, not securing the network, then appear online to claim their reward even though they have done very little work to secure the network beyond minting a few blocks. Coins which are online are using their weight to validate blocks minted by other stakers and play an important part in securing the network, even if they're not the one minting the current block. They are what protects the network against a 51% attack and it is therefore important for network security to have as much coin weight online as possible. To read the full rationale, please refer to NPIP004 here: https://github.com/NAVCoin/npips/blob/npip-0004/npip-0004.mediawiki Please remember that this is a draft at this stage and is open for discussion. Ultimately no-one can alter the consensus mechanism without support from the network, so the choice will be up to the community and network to decide the best course forward. I want to put a few additional thoughts on paper here which I would love some feedback on.
NPIP004 suggests to set the static block reward at 2NAV per block. There are approximately 1,051,200 (2*60*24*365) blocks mined per year which means there would be 2,102,400 NAV generated per year by proof of stake rewards. There are currently ~63M NAV in circulation, so this would set the inflation rate to 3.3% annually by way of stake rewards. The other thing to take into consideration with a static reward is that as a percentage, it will exponentially decrease over time. eg. When the circulating amount is 100M NAV, the inflation generated by stake rewards would be the same amount of NAV which equates to 2.1% of total supply instead of 3.3%.
There is some debate whether an exponentially deflationary supply is a good or a bad thing. In regards to supply demand economics, it has proven to be a massive boon for Bitcoin with the value exponentially increasing after every mining reward halving. The counter argument is that it is bad for distribution since it rewards early adopters more than the new entrants to the ecosystem. Personally, i'm the for the deflationary model. I think the difference in mining rewards from now until we have 100M in circulation (10+ years from now) is negligible compared to adoption when we're talking about things which effect the supply demand economics. It is reducing by 1/3 over roughly 10 years, not halving every 4 years as with bitcoin.
There has been some discussion as to how this could drive a further divide between stakers with more and less NAV. The thing to keep in mind is that although the rewards are fixed, the number of blocks you stake is still proportional to your staking weight on the network. This means that stakers still increase in wealth proportionally to each other as a percentage. Let's run a few scenarios. Assuming there are 20M NAV contributing to staking, just like there is today. Here's what the stake rewards would look like for some different balances over a 1 year period.
After 1 Year
As you can see, the only real thing that happens is we shift the decimal place around if we have different input values, but as a percentage everyone is increasing proportionally to what they input. This is a slightly over simplified view, but it is largely accurate. Whether you have 10% or 0.001% of the total staking weight, you will mint blocks proportionally to your weight, so everyone's balances increase at the same percentages. The only thing which could complicate the matter is compounding interest. A few people have been concerned that because the person with the larger balance stakes more frequently, they will effectively run away from the smaller stakers who would never get the opportunity to stake. I wrote a small computer program to simulate the staking rewards over 1 year taking into account the network weight and the additional 2 NAV added every time someone finds a block. The assumption I've made is the worst case scenario e.g all coins staked are never spent, but compound back onto the staking weight. You can read the program here: https://github.com/craigmacgregostatic-reward-modelleblob/mastemodel.js In laymans terms, it calculates when you'd be due for a reward based on your weight vs the rest of the network where the network starts with 20M NAV and gets 2 NAV added per 30 seconds. The output is as follows:
Why is it over 10% gain?
You have to remember that because the total amount generated is fixed but split proportionally. With a network weight of 20M the annual rewards per coin is 10.5%, but if 40M coins were staking the annual reward per coin would be 5.25%. if more people bring coins online to stake, the rewards decrease. Currently there are only around 25% of NAV online for staking, but typically we see around 40% NAV online for staking which would mean the annual reward is around 8.4% per coin. If 100% coins were used for staking the annual reward would be equal to 3.33% per coin.
With 4% per year and only 25% of coins staking, NavCoin currently only inflates at around 1.4% per year (including the community fund). We've seen the staking network weight roughly halve over the last 6 months, something which could be attributed the reduction of rewards when the community fund was introduced. It's possible people are switching to other, more profitable PoS coins because 4% reward is too low. At this network weight and market rate, it would only take around USD $2M worth of coins to perform a 51% attack. In reality, buying enough coins to 51% attack the network would drive the price of NAV up and therefore make it much more expensive than this to attack the network, but it's still worth noting the importance for network security to attract more people to stake.
Changing to a static block reward of 2 NAV per block increases network security in multiple ways, the first being that it forces people to be online securing the network with their weight constantly. Secondly, it would increase potential earnings for stakers which would attract more people to stake NavCoin and increase the network weight further. Both of these factors make the network harder to 51% attack and would improve network security.
Additional suggested changes
When we originally proposed 0.25 NAV per block for the Community Fund we calculated that as 20% of the current inflation rate. So reducing from 5% to 4% and adding 0.25 NAV was roughly equal. However this calculation was based on 40% of coins staking at 5% reward. I would suggest that if we move to a static block reward, we increase the community fund amount to 0.5 NAV per block, so it retains the 20% ratio to staking rewards as was originally intended. This would mean that there are 2,102,400 NAV created per year for staking and 525,600 NAV per year created for the community fund totalling 2,628,000 new NAV created per year. This equals an initial inflation rate of 4.17% which is exponentially decreasing as a percentage as explained previously.
Maximum Coin Age We could introduce a maximum coin age of 1 month. If they came online after 6 months to claim reward, they would only receive 1 months of reward. This would incentivise people to remain online because otherwise they would miss out on rewards. However, for a big staker, they can cycle thorugh all their coins quite quickly, but a small staker would potentially miss out on rewards even if they stayed online the whole time. I would argue this solution is worse for small stakers than a static reward. It also doesn't address the fact that other coins have higher rewards and attracts no new users. Block Validator Reward We could keep the coinage based staking rewards for the block minter and create an additional static reward which the minter issues to people who are online and securing the network with their weight even if they aren't the block minter. It would still essentially be a lottery based on network weight, but this way we have a hybrid system where everyone gets their percentage, but people who are online staking all the time get extra. This alternative would take a reasonable amount of investigation, research and testing to accomplish and it's not been trialled before afaik. For simplicities sake, i would argue that just using a static reward is a better option. Other approaches Not sure what else, i haven't thought of any other ways to solve this problem yet. If you have any ideas, don't be afraid to post them in the thread.
I'm personally in favour of changing the block reward to 2 NAV and increasing the Community Fund to 0.5 NAV per block. I'd be happy to hear your thoughts, so please post your feedback below.
Bitcoin’s Record Hash Rate May Hint at Price Gains to Come
Article by Coindesk: Omkar Godbole Bitcoin’s latest bout of consolidation may end up with bullish breakout, as a key metric of miner confidence has hit all-time highs. The top cryptocurrency by market value has clocked lower daily highs and higher daily lows over the last three days and is currently trading at $10,300 on Bitstamp, little changed on a 24-hour basis. The cryptocurrency has charted the narrowing price range amid a surge in non-price metrics including a rise in the network’s hash rate — a measure of the computing power dedicated to mining bitcoin. The two-week average hash rate reached a record high of 85 exahashes per second (EH/s) around 19:00 UTC last Friday. Further, mining difficulty — a measure of how hard it is to create a block of transactions — also jumped to a new all-time of nearly 12 trillion. The hash rate could be considered a barometer of miner’s confidence in the bitcoin price rally. After all, the miners would be ready to dedicate more resources for mining if they are bullish on price and would want to scale back their operations if a price slide is expected. Hence, many observers, including the likes of Changpeng Zhao, Founder of Binance, and former Wall Street trader and journalist Max Keiser believe prices follow hash rate. https://preview.redd.it/vapgqlijqgn31.png?width=660&format=png&auto=webp&s=f7dbc990a6f6f57cbbf16ce2bbafa193e49a8acf Zhao tweeted on Friday that, “a rising hash rate means more miners are investing in BTC”, while few other observers stated that sellers should think twice before betting against the most secure blockchain — the higher the hash rate of a cryptocurrency network, the more expensive to 51 percent attack. Put simply, Zhao is expecting bitcoin’s price to track the hash rate higher. It is worth noting that the market stands divided on the relationship between bitcoin’s price and hash rate. Some observers believe the hash rate follows price and the metric’s outperformance represents overtly exuberant miners. Hence, reading the rising hash rate as a sign of an impending price rally may prove costly. That said, the price is likely to follow the hash rate this time, as overexuberance is typically observed at market tops or near record highs. As of now, BTC is down almost $10,000 from the record high of $20,000 reached in December. Also, the market sentiment is quite bullish with reward halving (supply cut) due in less than a year and the sustained uptick in miners’ confidence is more likely to draw fresh bids, possibly leading to a positive feedback loop. All-in-all, the narrowing price range established over the last few days is likely to pave the way for a bullish move.
Daily and 4-hour charts
Bitcoin has charted (above left) back-to-back inside bar candlestick pattern over the last three days. The first inside bar appeared on Friday as that day’s high and low fell within Thursday’s trading range. The second and the third inside bar candle was created on Saturday and Sunday, respectively. Inside bars indicate consolidation and lack of volatility and often end with an explosive move on either side. A break below the first inside bar’s (Friday) low of $10,154 would imply range breakdown and could yield a stronger sell-off to levels below $9,855 (Sept. 11 low). A break above Friday’s high of $10,458 would imply range breakout and open the doors to $10,956 (July 20 high). The falling wedge breakout confirmed on the 4-hour chart (above right) last week is still valid. So, the probability of range breakout is high. Disclosure:The author holds no cryptocurrency assets at the time of writing. Bitcoin image via Shutterstock; charts by Trading View
The Second LTC's Halving is Coming, Will it Continue the Strong Performance?
[58COIN] The price of Litecoin(LTC), the cryptocurrency largely considered to be the silver to Bitcoin’s gold, recently rose steadily in the upcoming of the mining reward halving. Litecoin’s Halving Expectation Doubles the Price of LTC Litecoin, as the world’s fifth largest cryptocurrency, the price was down about 85% from all-time highs. However, LTC has rallied steadily since early 2019. According to 58COIN, the price has clocked to a high of nearly $60 until March 20, increased by nearly 100% compared with $30 at the beginning of 2019. Are You Ready for the Upcoming Mining Reward Halving? Recently, the news about the mining reward halving spreads, most people hold the thought that halving mining means that the miners will get fewer coins, and then the price will definitely rise. The max supply of LTC is 84,000,000, the circulating supply is 60,000,000, the remaining 24 million will affect the market price to some extent. https://preview.redd.it/b17l582ssfn21.jpg?width=540&format=pjpg&auto=webp&s=fa3fb9b355bc96de51ef3392b465be3145938067
Halving will cause changes in supply and demand.
Halving will double the cost of mining.
History shows that each halving is accompanied by a skyrocketing in price:
In the first half year of the Litecoin’s first halving, the increase was over 500%, but the market environment was different at that time. In addition, comparing the BTC’s second halving, that is, the market of July 10, 2016, the highest rise was 112%. At present, LTC has risen more than 100% from the low level, can it exceed 5 times of the first halving? How to Invest in the Upcoming Halving? The halving market is divided into the expected market and the skyrocketing market. Based on the previous halving of BTC and LTC, the expected market is mainly due to the reluctance of miners to sell, generally starting three to six months before halving, with a small increase lasting about two months. Investors can buy low six months before the halving and hold the position for 1–2 years after the halving, then sell high when the bull market reaches the peak. Don’t rush to sell until the real halving market starts. The halving is expected to occur on August 8, 2019. According to the law, the expected market will start 3–6 months in advance. Therefore, it may begin in March to May this year, that said, you can buy low in batches from now on. Please be aware that the above views are based on the previous market performance and regularity of BTC and LTC before and after halving, and does not mean that LTC will also rise sharply after this halving. Investors should conduct your own research before investing. Website: https://ww.58coin.com/ Facebook: https://www.facebook.com/coin.58COIN Twitter: https://twitter.com/58_coin Telegram: https://t.me/official58
I have been helping a friend develop business strategies at a Bitcoin start-up over the last few months. In the course of this work, the topic of Bitcoin mining appears often to be fraught with misinformation and uncertainty, especially for individual miners who unfortunately may find it difficult to return an adequate profit in many cases. This informal guide covers some important issues prospective miners should consider to avoid headaches and financial loss. The information is derived from experience deploying a 400 TH/s system scheduled to come online in around December. Opinions are my own; I’m happy to entertain constructive feedback. This year, the Bitcoin network will award miners nearly USD 500 million, at the current price of USD 375 per bitcoin, to participate in a process known as mining. Unsurprisingly, this has attracted significant interest not only from Bitcoin advocates, but from speculators and investors as well. Regardless of one’s motivations, the business of Bitcoin mining must ultimately be profitable, or at least operationally viable, if there is to be any chance of success. HOME MINING Acquiring and personally managing ASIC miners is probably the most fulfilling way to mine bitcoins. It provides the greatest level of transparency, but requires a certain level of technical proficiency to set up and run. Advantages: 1) No hosting fees payable 2) Full control of operating parameters 3) Direct payment from mining pool Disadvantages: 1) Purchasing the latest mining hardware is inherently risky because the ongoing development of energy-efficient ASIC chips requires expertise, time and millions of dollars. R&D is usually funded by customer prepayments with no guarantee of timeliness or success. It is not uncommon for miners to incur financial loss and opportunity costs when a supplier fails to deliver 2) The retail price of hardware is typically marked up anywhere from 25% to 500%, or more, depending on market conditions. This creates a barrier to profitability, making it harder for miners to recoup hardware costs if they are unable to negotiate for volume discounts 3) Shipping fees and import tariffs can cost hundreds of dollars per unit, especially if importing equipment from overseas. This adds to the cost of hardware and must be taken into account when calculating the return on investment 4) Shipping time varies greatly. Each day spent in transit incurs an opportunity cost 5) Miners need to set aside space, usually in the home, to locate mining equipment 6) Many mining units may generate excessive noise, and heat that requires around the clock ventilation to maintain an optimal operating temperature range 7) The average mining unit draws up to three amps of current. A system containing twenty units could easily exceed the power limit in a typical home 8) Electricity is by far the largest expense in any mining operation, making up around 90 percent of operating costs. If the price of residential power is materially higher than the rate paid by commercial operators, it makes home mining uncompetitive CLOUD MINING Buying into a cloud mining service is often marketed as a convenient and hassle-free way to get in on Bitcoin mining. As the mining assets are managed by an intermediary, getting a breakdown of operating costs prior to purchase often proves difficult. This makes it challenging for potential customers to make a fully informed buying decision. The unspoken truth is that some cloud miners incorporate obsolete equipment—cheap miners from previous generations or liquidated, unprofitable hardware—into their cloud to sell to unsuspecting customers. Older mining units can consume 80% more power than the current generation miners, leaving very little profit for the customer. In addition to the acquisition price, those in the market for cloud mining should consider the power consumption of the cloud on offer, including changes over time as new mining units are added to increase total capacity. Advantages: 1) Start earning immediately. No waiting weeks or months for equipment delivery, installation and set up 2) Convenient and fully managed mining service means customer needs not be technically inclined or involved in day-to-day operations 3) Professional hosting service ensures optimal performance and low operating costs. Commercial hosts may be able to purchase electricity for a materially lower cost than residential customers 4) Acquisition price is often reasonable. Sometimes, possibly, too good to be true 5) Some platforms allow miners to sell their assets to other traders Disadvantages: 1) Not all hashing power is comparable. For the same acquisition cost, more energy-efficient miners are better because they use less power and return higher profits. When buying hashing power from a cloud, the buyer should ensure he is not getting obsolete hardware. Often this is not possible to verify without a basic understanding of the costs involved, however subpar earnings is a good indication that further investigation is required 2) Hosting and cloud management fees are typically payable. Sometimes there is little transparency in pricing, resulting in unexpected cost to the customer 3) Miner has little input into how the cloud is managed COSTS BREAKDOWN The amount of money earned from Bitcoin mining over a short period of time, say one week, is fairly easy to calculate. Given mining is a zero-sum game where new entrants dilute existing participants and the mining reward is roughly shared on the basis of each miner’s contribution to the overall hash rate, we can derive profit by estimating the income and costs. Mining Income: Weekly mining bitcoins created = 25,200 = 25 bitcoins x 6 times per hour x 24 hours x 7 days Assuming hash rate is at 300,000 TH/s, bitcoins earned weekly per one terahash of processing power = 0.084 bitcoins = (1 terahash/ 300,000 terahash) x 25,200 bitcoins Table 1: Weekly earnings per one terahash of computing power
As new miners enter the market, an increase in hash rate dilutes the mining reward. This is the source of much uncertainty in mining because it is difficult to accurately forecast the rate of increase. Dilution reduces a miner’s income while the amount of work is the same. Mining Costs: Electricity typically comprises around 90 percent of total operating costs. The two determinants of electricity cost are price and the amount of electricity consumed. If we take a hypothetical 700 GH/s system that is rated at 490 watts, we can normalise it: 0.7 kW per one terahash = (1 terahash / 0.7 terahash) x 0.49 kW Electricity used per week is: 117.6 kWh = 0.7 kW x 24 hours x 7 days If we know the cost of electricity, the dollar value of electricity consumed in one week can be estimated. For reference, power prices in Australia are between USD 14 cents (commercial rate) and 19 cents (residential rate). China averages around 8 cents, while other places can be cheaper. For example, in Georgia, USA the cost of commercial electricity is around 6.5 cents per kWh. Table 2: Weekly electricity cost of running a one terahash system
Other costs to consider include mining pool fee (typically 1 percent of earnings), hosting fee (depends on host) and other expenses such as air conditioning if hosting at home, maintenance, etc. Profit: Using the assumptions that hash rate is at 300,000 TH/s and bitcoin price is USD 375, we can work out the profit. Moreover, knowing the basic cost of Bitcoin mining can help prospective miners avoid offers that are too good to be true. To simplify, we ignore other running costs: Profit = (bitcoin price x bitcoins earned) - electricity expense Table 3: Estimated profit from running a one terahash system for one week
These figures serve as a good benchmark for comparing your personal performance. Where the electricity price is known, the difference between the calculated and actual profits can be attributed to two things: 1) Energy efficiency of mining units can cause significant deviation, especially when the cost of electricity is high. This is usually the case if obsolete equipment is being used 2) Hosting fee, mining pool fee and other costs also contribute to the difference Return on Investment: The rate of return is a measure of how much miners make for a given investment size. Implied annualised return = (52 weeks x profit per week) / (hardware cost + shipping fees + tariffs + installation and setup costs) The current price of ASIC miners runs at around USD 500 per terahash, excluding international delivery and insurance that can cost between five to 20 dollars per kg ($50 to $200 per unit). As a general rule, higher operating profit and lower capital costs are preferred. Investors endeavour to break even quickly on the initial hardware investment and make a profit on top of that. The problem with this model is that it implies the hash rate remains unchanged for the entire year. In reality, the hash rate is likely to increase depending on a variety of factors. Therefore, the annual profit forecast is sensitive to changes in the hash rate as well as bitcoin price. This is a complex and interesting topic that deserves its own post. Please, keep in mind that actual mining results will very likely be less than what is indicated by this simple calculation. Under some scenarios, even informed miners can experience financial loss. OPERATING RISKS 1) Liquidity risk: Bitcoin trading is rather shallow. As such, miners may experience high trading frictions when selling bitcoins to obtain cash. A bid-ask spread of up to 10% is not uncommon in some cases. Furthermore, most mining businesses rely on the liquidation of mined bitcoins to cover operating expenses such as electricity and hosting. The combination of these two factors may result in unexpected trading costs to the miner if there is insufficient demand from bitcoin buyers. 2) Price risk: Bitcoin is highly speculative and this is reflected in its price volatility. There is no guarantee that it won’t be worthless by next year. Therefore, the miner should keep in mind that the market price is just as important as the amount of bitcoins he holds. Bitcoin price is influenced by multiple factors outside of the scope of this discussion. 3) Competition risk: Bitcoin mining is a zero-sum game. While the size of the reward is fixed, new entrants are permitted to enter at anytime reducing all miners’ share of the reward. When bitcoin price is high, more new competitors are attracted to mining, further eroding all participants’ income. 4) As a function of the Bitcoin protocol, the mining reward will be halved between May and June of 2016. When this happens, all miners will experience an immediate decline of 50 percent in income with many operators becoming unviable. This effectively gives new entrants less than 1.5 years to break even and turn a profit. The short window of opportunity is troublesome because it makes mining significantly less profitable as the deadline draws near.
“This Bitcoin halving will certainly be different to the last. Bitcoin and the crypto industry now face new challenges as current trends such as de-globalization and Covid-19 impact the world. In the coming months and years, Satoshi Nakamoto’s economic system will have the opportunity to prove its resilience and strength in comparison with traditional Wall Street protocols. Bitcoin Halving Clock. 0 DAYS. 0 HOURS. 0 MINUTES. 0 SECONDS. Bitcoin Halving Countdown Timer. Bitcoin Halving Date 2024. Bitcoin Halving is Predicted to Occur on Monday Jul 15, 2024 at 01:40:52 AM UTC. The Bitcoin halving prediction is based on the latest block height of 654,051 and the average block time for the last one thousand blocks, which is currently at 632 seconds per block. Sponsored ... 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 ... Bitcoin is totally different today than it was in 2016 or 2012. One new financial advancement since the last halving is futures trading of BTC. Crypto data tracker Skew notes that the Bitcoin options market does not indicate increased volatility for the time of the halving which suggests that its impact is already factored into the price of BTC ... As part of Bitcoin's coin issuance, miners are rewarded a certain amount of bitcoins whenever a block is produced (approximately every 10 minutes). When Bitcoin first started, 50 Bitcoins per block were given as a reward to miners. After every 210,000 blocks are mined (approximately every 4 years), the block reward halves and will keep on halving until the block reward per block becomes 0 ...
Bitcoin Halving to Bring 100k? Countdown Clock Begins!
Let’s all spread the word and let the world know the Bitcoin Halving is finally here once again! This one is definitely one for the books, it was a fun proje... BULLISH Bitcoin Halving Indicators!! The Largest Futures Gap in HISTORY! Finally the Bitcoin Halving is occuring. So we can talk about something else. lol.... Powered by Restream https://restream.io/ ขอเชิญเข้าร่วมรับชม งาน Bitkub Meetup 4/2020 หัวข้อ "3rd Bitcoin Halving Countdown in History ... The Bitcoin Halving is coming, just less than a year away. Like clockwork, in anticipation for this event the Bitcoin price starts to rise. Will BTC break 10... Bitcoin Halving Explained Simple - Does it Affect Bitcoin's Price? - Duration: 5:33. 99Bitcoins 90,116 views. 5:33. Ray Dalio on the Economy, Pandemic, China's Rise: Full Interview - Duration ...