Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
⭐ Merited by JayJuanGee (1)
Nope, no sorcery, luck or the Fed ( 
), just this little math thingie:
Sure, this is so localized it may well be Fed-or-whatever-else-induced noise, but it's still fun to comment on and attempt to predict such UPpities...
), just this little math thingie:Sure, this is so localized it may well be Fed-or-whatever-else-induced noise, but it's still fun to comment on and attempt to predict such UPpities...
Does this formula have any other meaning than the result is 21*106? Which is, of course, a great number.
So for i =0 I get 10500000 as a result. For i=1 I get 5250000 and so on. So does e.g. 10500000 have any meaning or can anyone continue working with the numbers / this formula? For example make a formula to calculate the mined bitcoin per year?
It would be great if I could scribble all over the blackboards at school.
Any maths professionals here?
Well, I am not a maths professional, but...
The purpose of writing it in that form is basically just to show how the halvings work. There is a halving of the block reward every 210,000 blocks. The block reward for each block in the ith halving period will be 50/(2^i), and the total of bitcoins generated in that halving period will, of course, be 210,000 * [50/(2^i)]. The sum of coins generated in all halvings will be ~21,000,000 as we all know.
Sorry in advance if I have misunderstood your question.