A few years back after the last halving I wrote an article shortly after the first halving block 210,000 was mined dropping the subsidy from 50 BTC to 25 BTC. Since block 420,000 was just mined reducing the subsidy from 25 BTC to 12.5 BTC I thought it would be an appropriate time to write a follow-up article with similar data for the most recent halving block comparing it to the previous one.
Last Time
For those that don't want to click to the older article here are the 'guts' of it;-
- The Hash was 000000000000048b95347e83192f69cf0366076336c639f9b7228e9ba171342e.
- The Merkle root was 3cdd40a60823b1c7356d0987078e9426724c5b3ab439c2d80ad2bdd620e603d8.
- The Nonce was 4069828196.
- The Difficulty was 3,438,908.96.
- There are 10,500,025 bitcoins in circulation ($127,784,087.25 USD).
- There are 1,050,002,500,000,000 satoshis (individual bitcoin units).
- The block was solved in 23 minutes and 2 seconds.
- A single high-end CPU (Intel Core i7 3930k) would have had a 50% chance to have solved the block in just over 7 years.
- There were 457 individual transactions contained in the block.
- The Mt.Gox average trade price for 1 BTC was $12.17 USD at the time.
- There were 25,421.70093021 BTC worth of transactions in the block ($313,000 USD).
- The Reward was 25 BTC ($300 USD).
- The transaction fees, also collected by the mining pool were 13.56295554 BTC ($160 USD).
- The 25 BTC were deposited into the address 1NEU779yvLaFk39k4Q3QdLjwpWTdWCbzqL.
[Warning: The SSL certificate for MtGOX doesen't appair to be valid... Wonder why?]
This Time
This time around I am going to tabulate the data so you can compare the blocks side by side so you can easily see what has changed;-
| 2012 | 2016 | Differance | |
|---|---|---|---|
| Block Number | 210,000 | 420,000 | +210,000 |
| Block Timestamp | 2012-11-28 15:24:38 | 2016-07-09 16:46:13 | 3 years, 7 months, 11 days, 1 hour, 21 min, 35 sec |
| Found By | Laughingbear @ Slush's pool | zzhhzz @ F2Pool | N/A |
| Raw Block | 210000.txt | 420000.txt | N/A |
| Difficulty | 3,438,908.96 | 213,398,925,331.3239 | +213,395,486,422 |
| Block Subsidy | 25 BTC ($304.25 USD) |
12.5 BTC ($8,125 USD) |
-12.5 BTC (+$7,820.75 USD) |
| Bitcoins in Existence | 10,500,025 | 15,750,012.5 | +5,249,987.5 |
| Block Size | 199.127 KB | 999.838 KB | +800.711 KB |
| Transations | 457 | 1,257 | +800 |
| Transation Value | 25,421.70093021 BTC ($313,000 USD) |
16,628.95928636 BTC ($10,808,823 USD) |
-8,792.74164385 BTC (+$10,495,823 USD) |
| Fees | 13.56295554 BTC ($165 USD) |
0.57569681 BTC ($374 USD) |
-12.98725873 BTC (+$209 USD) |
| Exchange Rate | ~$12.17 USD | ~$650 USD | +$637.83 USD |
| Market Cap | $127,784,087.25 USD | $10,237,508,125 USD | +$10,109,724,037.80 USD |
| Network Hashrate | 24,616 GH/s | 1,553,893,736 GH/s | +1,553,869,120 GH/s |
| Coinbase Address | 1NEU779yvLa..... | 1KFHE7w8Bha..... | N/A |
Conclusion
So, unsurprisingly, in every single factor bitcoin has grown [1] in orders of magnitudes (in some cases many orders of magnitude). Apart from that and being useful for future trivial pursuit questions there is not a lot of other conclusions to draw.
See you at the next halving in another ~4 years.
| [1] | In a few metrics the BTC value has decreased but the USD exchange rate more than makes up for it. |
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