File talk:Total bitcoins over time graph.png

From Bitcoin Wiki
Revision as of 19:04, 10 October 2014 by Atheros (talk | contribs)
Jump to: navigation, search

Removing This Stupid Graph

I have removed all links to this file. Please do not put them back. This graph has convinced people that the last mined reward will be in 2033 or so, when that is completely incorrect. Thanks. Midnightmagic (talk) 01:54, 12 January 2014 (GMT)

What I wouldn't delete out of reflex because of the huge amount of PR and fact-correction I've personally been forced to do as a result of this stupid thing, would be a graph which shows a comparison line that describes compression of the release schedule due to hashrate growth so far, as well as reasonably expected growth into the 2100s. Ideally, events such as 'last Satoshi mined' and "if past growth continues, here is where we will be using the entire energy output of the Earth to sustain bitcoin mining" should be notated with an arrow, and the volume line should not abruptly end at any point prior. Midnightmagic (talk) 07:07, 14 September 2014 (UTC)

We should re-add a similar graph. It makes sense that people would think that the reward would stop increasing after 2033 based on that graph, which is incorrect, but that graph also helps people understand the exponential back-off nature of the reward. It is valuable. I believe that it has done more good than harm and I haven't seen it declared anywhere myself that no more bitcoins will be mined after 2033 unless people are just speaking 'practically'. By the way, if over 99% of bitcoins have been mined by 2033 then for many contexts, like economics, *practically* no more bitcoins are being mined. So in the context of economics and other fields, it is correct to say that no more bitcoins will be mined after 2033.

Separately, the lack of a comparison line that describes the compression of the release schedule due to hashrate growth so far is not sufficient reason to get rid of this graph. When educating the public, sometimes details can be ignored for the purposes of explanation. Demanding that the line be a couple pixels to the left is definitely one of those details that can be ignored. This is evidence that, in deleting this graph, you are behaving like a pedant. Please stop. Atheros (talk) 19:04, 10 October 2014 (UTC)