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40 sats \ 19 replies \ @028559d218 20 Dec \ parent \ on: Barber Shop Bitcoin Babble bitcoin
Bitcoin in total is a... 130 year experiment. from 2009 to ~ 2140. About 130 years.
Next year will be about 16 years.
So that's about 12% through (counting next year). We're in total 12% into the Bitcoin experiment at 16 years (next year).
I think that provides important context.
Why do you say a 130 year experiment?
Are you saying that FRN were an experiment rather than a control collar for the slaves?
What about the long running money called gold?
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Btc isn't gold. Btc is better... that's the whole point.
yes 130 years. from the first block to the last btc being mined is ~ 130 years
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Why do you think it will take 130 years to mine the last bitcoin?
The mining equipment is speeding up and power is coming online.
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you can't be serious
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As a heart attack!
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That's when the final "halving" occurs. The reward goes to zero for successfully mining blocks after that.
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If I understand correctly, the final halving cannot take place for another 130 years, no matter the speed, power or number of miners working on the problem? What is the evidence of that. Are we only working on a linear scale or a exponential scale?
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This is pretty basic.
Yes it's called the difficulty adjustment. It's the entire point of mining.
No matter the hashrate or 'speed' of miners... blocks on average only arrive once every 10 minutes.
Since every 10 minutes a new block arrives (on average) and only so many blocks occur between halvings...
There are 130 years approximately of new Bitcoin creation. It has precisely zero to do with the hashrate or power of miners, that is adjustable and why there's a difficulty adjustment.
Right, it's the expectation based on a 10 minutes per block average. It is based on blocks not time, but bitcoin is also designed to maintain the pace of finding one block every 10 minutes, regardless of advancements or regressions in computing power.
isn't this basic bitcoiner information?
?
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Show me the evidence that it is impossible to reach the last halving for 130 years.