Bitcoin Foundation Chair On Bitcoin's Second Halving

Today, Saturday, July 9th 2016, the Bitcoin block reward subsidy has been halved from 25 BTC per block, to 12.5 per block. This is the second block reward halving event to have occurred during the time of our most serene republic. The first reward halving was nearly four years ago on November 28th, 2012, which reduced the subsidy from 50 BTC to 25 BTC per block. The Bitcoin protocol schedules these reductions automatically: every 210,000 blocks.

At the time of this writing, we are currently at block 420,011. The total number of bitcoins in circulation is 15,750,050, or about 75% of the total 21 Million coins to be mined.

Today, we diligently watch the blockchain and celebrate in our chamber, #trilema. Join in, or follow along by reading the congressional transcript.

Starting with block 630,000, the next reward subsidy will become 6.25 BTC per block. See you then!

Viva Bitcoin y La Serenissima

mod6 (WOT:mod6) is a co-chair of the Bitcoin Foundation

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