So in about five months (near end October) the network stops giving bribes of 96 or 48 shitcoins when reward goes to zero. What's then to keep people mining (or even merge-mining) it?
Transaction fees are gonna go through the roof (at 2 txns per block, perhaps 25 IXC per txn fee needed?) or merge mining is gonna be dropped.
What happens to shitcoin then? Best get out before everyone else figures it out.
The date has now moved to August, so terminal mining is 2-3 months away.
It's 96 coins now, BTW.
The largest merge mining pool on earth, CEX.io (Ghash.io) with over 40% of the total global Bitcoin mining power is sitting on our board.
So, my question to you, good sir, is: Can you add?Nope it's October. Can you add?
Yeah, can you?
21,000,000 coins total
205799 blocks now = 19,756,754 coins
difference of 1,243,246 coins = 12,950 blocks @ 144 blocks per day = August 26th.
In reality it will end up being closer to Late July - Early August since we're dealing with a moving target.
Now show me your math, genius.Interesting enough, the rate will drop at 210000. That is 3890 blocks from now. So by aroung 6/28 the blockrate will be cut in half to 48!
The hard limit of zero subsidy is at block 227499. 148 days from now. Around 5 months from now. 10/30 is the approximate date.
These numbers are taken from the source code:
int64 nSubsidy = 96 * COIN; //ixcoin
// Subsidy is cut in half every 4 years
nSubsidy >>= (nHeight / 210000);
//Hard limit to 21M Ixcoins
if (nHeight >= 227499)
nSubsidy = 0;
zebedee is actually setting you up for a loss. He likely read the code prior to the bet.
I had no idea the subsidy for iXcoin was actually getting cut in half.
Everything I ever read said constant 96 coins until terminal mining.
If that's the case then yeah, it won't be July-Aug but you can't predict the exact date since the block time is almost never 10 minutes, it's closer to 8 minutes and it fluctuates.