Halving question!
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What does halving mean? I know that it means to split into two. so does that mean that the block reward 80 will be split into 40? or…?
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@miningdude22 The mining-reward halves, the supply which will be mined each day will be only the half after the halving. - So instead of 80 coins per block there will only be 40 coins per block afterwards
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@ChekaZ wow so the coins will become more valuable?
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@miningdude22 said in Halving question!:
@ChekaZ wow so the coins will become more valuable?
That is the theory - Supply and Demand is the basis of most crypto.
Feathercoin (like bitcoin) was designed to have a limited supply of ~336 Million coins.
in roughly 10 days the block reward for each block mined will be halved from 80 FTC to 40 FTC
Bitcoin started at 50, then went to 25 and the reward for BTC is currently at 12.5 BTC per block found.
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@AcidD okay. So that means the price will def go up? If yes what trading platform is good or which ones are out there? As in trading coins. I wanna buy feathercoins
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@miningdude22 said in Halving question!:
@AcidD okay. So that means the price will def go up? If yes what trading platform is good or which ones are out there? As in trading coins. I wanna buy Feathercoins
I cannot say the price will definitely go up.
As long as theres demand for FTC the price should go up in theory.But tbh i dont really care about the price of FTC right now…i care about the community and the software.
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One of the basic things about Bitcoin based cryptocurrencies is they are deflationary.
That is the amount of currency gradually decreases, not increases like the inflation or quantitative easing of Fiat currency.
Fiat currency is legal tender whose value is backed by the government that issued it. The U.S. dollar is fiat money, as are the euro and many other major world currencies. This approach differs from money whose value is underpinned by some physical good such as gold or silver, called commodity money
One ways Crypto currencies are deflationary is by having the value of the mining fee every so often, in FTC case, 4 years. This is input into the code to occur at a certain block number.
In practice, the block times are only approximate, depending on the number of miners / hash rate. Variation in hash rate can only be corrected for afterwards, which will tend to delay the halving beyond exactly 4 years.
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The count down for Feathercoin Halving is on the Web Front page …
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@wrapper The countdown is currently showing zero.
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We are just updating the halving date/time.
it will show the correct counter soon.
Actually halving time has shifted back according the the latest block count -
Confused…whats the real start time of the halving now… first it was saturday. The that now being giving is that the ending/last block time?
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@mishon said in Halving question!:
Confused…whats the real start time of the halving now… first it was saturday. The that now being giving is that the ending/last block time?
That is the way crypto works … A lock is made that takes 1 min to break by the miners.
1 min is only the average time to break the lock. Because miners Hash rate varies and can only be compensated on the next block by making the lock harder / easier for the next block. That is called the block difficulty.
In practice, FTC runs between 3 to 10 seconds longer than the strict minute.
Being a few days late over the four years is actually quite good.
