Bitcoin one block reward
Based on these two situations, price fluctuation seems to occur within 18 months after each halving. However, the data is still insufficient for proper analysis and price forecasting model
Will history repeat itself< p> It is important to note that in terms of the number of bitcoin holders, market value, regulations and the overall outlook for cryptocurrency, there are huge differences between 2012, 2016 and 2020. For example:market value: November 2016 - & gt; $11 billion, December 2019 - $132 billion
daily trading volume: November 2016 - & gt; 84 million US dollars, December 2019 - 17 billion US dollars
e to the increased public awareness of bitcoin and the interest of institutional investors, the risk is higher this time. Although many other cryptocurrencies have been introced since 2016, BTC's dominant position is still 66.6%. As a result, the bitcoin miner is unlikely to switch to other coins, which means that halving may have a long-term impact on bitcoin prices
However, the main gain is that there is a certain correlation between the halving of bitcoin reward and the price fluctuation after the event. These supply changes happen every four years, and it's interesting to watch their impact on the price of the bitcoinIt's about 37 yuan
let me first introce the reward mechanism of bitcoin system
bitcoin can basically dig out a block every 10 minutes through system settings. The reward for each block is given to the miners who dig out the block. The miner who digs out the block is called the block miner. The block miner will record the legal transactions in the bitcoin network to the blockchain, so that the miner can receive the service charge for bookkeeping
there are two parts in the reward for the block Miner: one part is the reward given by the system, which is called coinbase reward (also known as system issuance reward), the other part is the reward for bookkeeping, which is called miner's fee. The coinbase reward started with 50 bitcoins. For every integral multiple of 210000 blocks, the coinbase reward will be halved. This is what we often hear about bitcoin mining reward halved in four years
at the present stage, the reward of coinbase is 12.5 bitcoins. At the present stage, the average transaction miner fee received by miners for digging out a block is about 0.1 bitcoin (not fixed), that is to say, the average reward received by miners for digging out a block is about 12.6 bitcoin
about 99% of miners' rewards come from the system's coinbase rewards. According to the bitcoin system, one block can be g out every 10 minutes on average. The number of new blocks that can be g out in one day is 144 (60 * 24 / 10 = 144). At present, the number of bitcoins that can be g out every day is 1800btc (144 * 12.5btc = 1800btc). With the miner's fee of about 0.1btc per block, the total reward for all miners in one day is about 1814.4btc
You can't dig in a day. It takes 2000 years
the global unified computing difficulty of bitcoin is 2621404453 (expected to change in two days). It takes more than 2000 years for a 2.5GHz CPU to work out a bitcoin
in order to make the graphics card fully loaded for a long time, the power consumption will be quite high, and the electricity bill will be higher and higher. Many professional mines at home and abroad are operated in areas with extremely low electricity charges, such as hydropower stations, while more users can only mine at home or in ordinary mines, so the electricity charges are not cheap. Even in a certain residential area in Yunnan, there was a case of crazy mining, which led to a large area trip of the residential area, and the transformer was burned
extended data:
bitcoin network generates new bitcoin through "mining". In essence, the so-called "mining" is to use computers to solve a complex mathematical problem to ensure the consistency of bitcoin network distributed accounting system
bitcoin network will automatically adjust the difficulty of mathematical problems, so that the whole network can get a qualified answer about every 10 minutes. Then bitcoin network will generate a certain amount of bitcoin as block reward to reward the person who gets the answer
when bitcoin was born in 2009, block rewards were 50 bitcoins. Ten minutes after its birth, the first 50 bitcoins were generated, and the total amount of money at this time is 50. Then bitcoin grew at a rate of about 50 every 10 minutes. When the total amount reaches 10.5 million (50% of 21 million), the block reward will be halved to 25
when the total amount reaches 15.75 million (5.25 million new output, i.e. 50% of 1050), the block reward will be further halved to 12.5. The monetary system used to have no more than 10.5 million in four years, after which the total number will be permanently limited to about 21 million
a total of 2100W bitcoins are issued, and each block is generated for 10 minutes, and a block rewards a certain number of bitcoins. In the beginning, 50 bitcoins were awarded for each block of mining. In the future, the reward was halved for every 21000 blocks (about once every four years). Now, 12.5 bitcoins are awarded for each block generated. The generation time of each block is 10 minutes, but with the development of computer technology, now the mining calculation power is increasing, so the generation time of a block must be less than 10 minutes, which requires certain control measures to ensure this time. This measure is the difficulty of mining. If the output time of each block is less than 10 minutes, the difficulty of mining will be increased. If the output time is more than 10 minutes, the difficulty of mining will be reced. The difficulty adjustment time is 2016 blocks, that is, 2 weeks
after every 2016 blocks, all nodes will automatically adjust the mining difficulty according to a certain formula. This formula is obtained by comparing the latest time spent in 2016 blocks in this cycle with the expected time (20160 minutes, i.e. two weeks)
new difficulty = old difficulty * (time spent in the past 2016 blocks / 20160 minutes)
a block is a record in the block chain, which contains and confirms the transactions to be processed. On average, a new block containing transactions is added to the block chain by mining every 10 minutes
more can be found on bitcoin home.
Introce the reward mechanism of bitcoin system. Bitcoin can basically dig out a block every 10 minutes through system settings. The reward for each block is given to the miners who dig out the block. The miner who digs out the block is called the block miner. The block miner will record the legal transactions in the bitcoin network to the blockchain, so that the miner can receive the service charge for bookkeeping