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
I (wot:mod6) deployed an IRC implementation of "T" – a ticketing system (descending from a command line version published earlier last month) for projects originating from The Bitcoin Foundation and The Most Serene Republic (TMSR~).
Since the Founding of The Bitcoin Foundation and for many years previous; The Republic has tracked proposals of all forms through logging of the assembly chamber, #trilema.
Throughout these many months it has become increasingly difficult to track all of these items. The Republic has been in need of a means to track them all.
With the deployment of tb0t (WOT:tb0t), Bitcoin Lords may now leverage this system to track their projects, corresponding work, and related tasks. This is important for a variety of reasons: tickets can be described in detail and isolation; avert archaeological digs; connect together in Antecedent/Dependent relationships; graph directionally, and viewed on The Foundation website; projects rendered and viewed as a whole broad visionary scope.
Viva La Serenissima!