I just LOVED this!
Day 0 is expected roughly around November 30th, plus or minus a week:
Day T-10: Four of the five ASIC manufacturers claim to be finalizing the design / optimizing / trying to resolve some nagging power issue / whatever, yet not a single person that pre-paid for an ASIC has one in-hand.
Day T-8: Difficulty of 3.5 million and exchange rate of $15 mean profitability is still acceptable for GPU miners paying average electric rates or less.
Day T-5: A lot more "N Ghash/s for sale" listings will start to appear [Edit: as-in total liquidation of N GHash/s of capacity]
Day T-4: Difficulty for Litecoin rises as miners experiment, causing there to be no chance of profit from Litecoin mining either.
Day T-3: Block 209,664 -- last difficulty adjustment before the block subsidy reward drops (fact, not a prediction)
Day T-1: Last day that anywhere near 7,200 BTC is produced (fact, not a prediction)
Day 0: Block 210,000 hits and only about 3,600 are produced (fact, not a prediction)
Day 1: Blocks slow to about 11 minutes as some GPU miners realize basic math and power down.
Day 2: Exchange rate volatile, both up and down, but returns to previous levels -- about $15.
Day 3: Anger and vitriol from GPU miners who are still "underwater" on their GPUs purchased in 2012.
Day 4: Anger and vitriol from FPGA miners who somehow didn't realize that "much more efficient" doesn't protect against a revenue drop of 50%
Day 5: Blocks slow to about 12 minutes as more GPU miners realize the payouts are dismal and begin to proceed past "denial", the first step in the grieving process,
Day 6: ASIC hardware developers see an even greater number of prepayments for hardware. Much gnashing of teeth on the forums.
Day 7: Hashing on CoinLab's GPU network grows tremendously as miners cash in their built-up loyalty credits.
Day 8: Nearly all NVidia GPUs that were used for mining are now either computing with CoinLab or have been decommissioned.
Day 9: Gamers elated over some really good AMD and NVidia graphics cards available "really, really cheap" on eBay.
Day 10: Blocks slow to about 13 minutes, as not only did the block reward subsidy drop but so did the frequency of blocks -- making mining bring in even less revenue each day.
Day 11: Speculators hoping for the "doubling" of the exchange rate realize it didn't happen (or perhaps already happened, from $5-ish, over the summer), and sell off a little Exchange rate drops to $12-ish.
Day 12: ASIC manfuacturers claim to be finalizing the design / optimizing / trying to resolve some nagging power issue / whatever, yet not a single person that pre-paid for an ASIC has one in-hand.
Day 13: Block 211,680 - difficulty adjusts. Drops 15%. Back to one block every ten minutes.
Day 14: Mining operators are still seeing electric bills from the previous month's consumption. Even more anger, vitriol and gnashing of teeth.
Day 15: Christmas-related activities overtake bitcoin as being the event more important to many mining operators.
Day 25: The daily "average price" remains in a range between $12 and $15.
Day 26: Many "slightly used" GPU cards land in wrapped boxes under trees. Others, particularly those who had a larger investment in their GPU rigs, are using the phrase "bah, humbug" more than they had in any prior holiday season.
Day 27: Difficult adjusts, dropping another 5%. Yawn.
Day 30: ASIC manufacturers claim to be finalizing the design / optimizing / trying to resolve some nagging power issue / whatever, yet not a single person that pre-paid for an ASIC has one in-hand.