Quote from: Rogue on September 13, 2012, 08:59:07 PM

Quote from: DirtAddsHP on September 13, 2012, 08:56:35 PM

sorry to hijack, but is there a reward at half block? like when the full block is completed?

this is what i was wondering as well because i was told that the value of BTC would double at the half block. and if im not mistaken i think the full block is completed at 21 million BTC. its that or a half block is marked by the number of transactions.

Some incorrect terminlogy being used.

A block is solved roughly once every 10 minutes. Unconfirmed (pending) transactions are hashed together and included in the block being solved. When the block is solved (a very difficult math problem) the block becomes gets added to the end of the blockchain (a historical record of all blocks solved and all tx recorded). Currently the blockchain contains 198,637 blocks. The process of solving blocks has been happening continually since the genesis block (block #0 created by Satoshi) roughly four years ago.

Miners are provided a subsidy for solving a block. The subsidy is (and has been) 50 BTC per solved block. At block 210,000 the subsidy will be reduced to 25 BTC per block and it will continually halve every 210,000 blocks (~ every 4 years). The reduction in the subsidy is well known (known since before the first block was produced) IMHO it is unlikely to surprise the market. Just because the subsidy is cut in half doesn't mean the value of each coin will double.