Month: June 2016

Halving party incoming…on the 9th?

While still undetermined, the Halving Day has been slowly descending the month of July. Scheduled for the 11th in our last post, it now slipped to the 9th (22:27 GMT), showing that bitcoin miners are in good shape and keep increasing their computing power.

We are at time of writing 2,535 blocks away from the great Halvening and the Halving Day is fluctuating in a narrow margin. The network hashrate trend is up, so the date is more likely to come early than the opposite.

Let’s make some quick calculations:
Number of blocks remaining: 2,535
Days to the halvening with:
10 min block: 2535 * 10 / 60 / 24 = 17,6 days -> Halving on the 9th of July
9,5 min block (5% faster): 16,7 days -> Halving on the 9th of July
9 min block (10% faster): 15,9 days -> Halving on the 8th of July

The probability of running more than 10% faster is low, so there is a good chance that the Halvening happens on the 8th or 9th of July..!

As we come closer to the event we’ll make a more precise estimate and give the time for various places of the world.

Stay tuned!