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re: My faith in Bitcoin just went out the window
Posted on 3/8/13 at 12:03 pm to boosiebadazz
Posted on 3/8/13 at 12:03 pm to boosiebadazz
quote:
didnt you say that the rate of mining in controlled i.e. only 100 coins can be mined an hour or whatever. of those 100 coins, what determines how many i would get versus how many you would get? is it the power of the computing machinery?
currently 3600 coins are mined per day at a rate of 25 every 10 minutes (1 "block" every 10 minutes)
That number halves every 4 years.
Of the 21 million that will ever be produced, about 10.8 million have been mined.
the power of your mining rig may have an effect on how many blocks you mine, but computer power has absolutely nothing to do with how many bitcoins will be released
2
Posted on 3/8/13 at 12:05 pm to WikiTiger
quote:
3600 coins are mined per day at a rate of 25 every 10 minutes
quote:
the power of your mining rig may have an effect on how many blocks you mine
so the computing power determines whether i get 100 coins or 1,000?
Posted on 3/8/13 at 1:15 pm to WikiTiger
Couple questions.
What do you predict will happen when all the coins are mined. ie "the gold rush is over"
Why doesn't a supercomputer, say Watson, not just go snatch them all up? Why is it only (or seem to be) computer nerds trying to justify their bad arse rig they have?
What do you predict will happen when all the coins are mined. ie "the gold rush is over"
Why doesn't a supercomputer, say Watson, not just go snatch them all up? Why is it only (or seem to be) computer nerds trying to justify their bad arse rig they have?
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