diff --git a/src/checkpoints.cpp b/src/checkpoints.cpp
index e2c420edd7..9b11f0b351 100644
--- a/src/checkpoints.cpp
+++ b/src/checkpoints.cpp
@@ -14,13 +14,25 @@ namespace Checkpoints
 {
     typedef std::map<int, uint256> MapCheckpoints;
 
-    //
+    // How many times we expect transactions after the last checkpoint to
+    // be slower. This number is conservative. On multi-core CPUs with
+    // parallel signature checking enabled, this number is way too high.
+    // We prefer a progressbar that's faster at the end than the other
+    // way around, though.
+    static const double fSigcheckVerificationFactor = 15.0;
+
+    struct CCheckpointData {
+        const MapCheckpoints *mapCheckpoints;
+        int64 nTimeLastCheckpoint;
+        int64 nTransactionsLastCheckpoint;
+        double fTransactionsPerDay;
+    };
+
     // What makes a good checkpoint block?
     // + Is surrounded by blocks with reasonable timestamps
     //   (no blocks before with a timestamp after, none after with
     //    timestamp before)
     // + Contains no strange transactions
-    //
     static MapCheckpoints mapCheckpoints =
         boost::assign::map_list_of
         ( 11111, uint256("0x0000000069e244f73d78e8fd29ba2fd2ed618bd6fa2ee92559f542fdb26e7c1d"))
@@ -33,30 +45,81 @@ namespace Checkpoints
         (210000, uint256("0x000000000000048b95347e83192f69cf0366076336c639f9b7228e9ba171342e"))
         (216116, uint256("0x00000000000001b4f4b433e81ee46494af945cf96014816a4e2370f11b23df4e"))
         ;
+    static const CCheckpointData data = {
+        &mapCheckpoints,
+        1357902690, // * UNIX timestamp of last checkpoint block
+        11011160,   // * total number of transactions between genesis and last checkpoint
+                    //   (the tx=... number in the SetBestChain debug.log lines)
+        50000.0     // * estimated number of transactions per day after checkpoint
+    };
 
-    static MapCheckpoints mapCheckpointsTestnet =
+    static MapCheckpoints mapCheckpointsTestnet = 
         boost::assign::map_list_of
         ( 546, uint256("000000002a936ca763904c3c35fce2f3556c559c0214345d31b1bcebf76acb70"))
         ;
+    static const CCheckpointData dataTestnet = {
+        &mapCheckpointsTestnet,
+        1338180505,
+        16341,
+        300
+    };
+
+    const CCheckpointData &Checkpoints() {
+        if (fTestNet)
+            return dataTestnet;
+        else
+            return data;
+    }
 
     bool CheckBlock(int nHeight, const uint256& hash)
     {
         if (!GetBoolArg("-checkpoints", true))
             return true;
 
-        MapCheckpoints& checkpoints = (fTestNet ? mapCheckpointsTestnet : mapCheckpoints);
+        const MapCheckpoints& checkpoints = *Checkpoints().mapCheckpoints;
 
         MapCheckpoints::const_iterator i = checkpoints.find(nHeight);
         if (i == checkpoints.end()) return true;
         return hash == i->second;
     }
 
+    // Guess how far we are in the verification process at the given block index
+    double GuessVerificationProgress(CBlockIndex *pindex) {
+        if (pindex==NULL)
+            return 0.0;
+
+        int64 nNow = time(NULL);
+
+        double fWorkBefore = 0.0; // Amount of work done before pindex
+        double fWorkAfter = 0.0;  // Amount of work left after pindex (estimated)
+        // Work is defined as: 1.0 per transaction before the last checkoint, and
+        // fSigcheckVerificationFactor per transaction after.
+
+        const CCheckpointData &data = Checkpoints();
+
+        if (pindex->nChainTx <= data.nTransactionsLastCheckpoint) {
+            double nCheapBefore = pindex->nChainTx;
+            double nCheapAfter = data.nTransactionsLastCheckpoint - pindex->nChainTx;
+            double nExpensiveAfter = (nNow - data.nTimeLastCheckpoint)/86400.0*data.fTransactionsPerDay;
+            fWorkBefore = nCheapBefore;
+            fWorkAfter = nCheapAfter + nExpensiveAfter*fSigcheckVerificationFactor;
+        } else {
+            double nCheapBefore = data.nTransactionsLastCheckpoint;
+            double nExpensiveBefore = pindex->nChainTx - data.nTransactionsLastCheckpoint;
+            double nExpensiveAfter = (nNow - pindex->nTime)/86400.0*data.fTransactionsPerDay;
+            fWorkBefore = nCheapBefore + nExpensiveBefore*fSigcheckVerificationFactor;
+            fWorkAfter = nExpensiveAfter*fSigcheckVerificationFactor;
+        }
+
+        return fWorkBefore / (fWorkBefore + fWorkAfter);
+    }
+
     int GetTotalBlocksEstimate()
     {
         if (!GetBoolArg("-checkpoints", true))
             return 0;
 
-        MapCheckpoints& checkpoints = (fTestNet ? mapCheckpointsTestnet : mapCheckpoints);
+        const MapCheckpoints& checkpoints = *Checkpoints().mapCheckpoints;
 
         return checkpoints.rbegin()->first;
     }
@@ -66,7 +129,7 @@ namespace Checkpoints
         if (!GetBoolArg("-checkpoints", true))
             return NULL;
 
-        MapCheckpoints& checkpoints = (fTestNet ? mapCheckpointsTestnet : mapCheckpoints);
+        const MapCheckpoints& checkpoints = *Checkpoints().mapCheckpoints;
 
         BOOST_REVERSE_FOREACH(const MapCheckpoints::value_type& i, checkpoints)
         {
diff --git a/src/checkpoints.h b/src/checkpoints.h
index 70e936564c..dcfb44e10f 100644
--- a/src/checkpoints.h
+++ b/src/checkpoints.h
@@ -22,6 +22,8 @@ namespace Checkpoints
 
     // Returns last CBlockIndex* in mapBlockIndex that is a checkpoint
     CBlockIndex* GetLastCheckpoint(const std::map<uint256, CBlockIndex*>& mapBlockIndex);
+
+    double GuessVerificationProgress(CBlockIndex *pindex);
 }
 
 #endif
diff --git a/src/qt/bitcoingui.cpp b/src/qt/bitcoingui.cpp
index 635e0cb34b..16bc0a47de 100644
--- a/src/qt/bitcoingui.cpp
+++ b/src/qt/bitcoingui.cpp
@@ -572,8 +572,8 @@ void BitcoinGUI::setNumBlocks(int count, int nTotalBlocks)
         progressBarLabel->setText(importText);
         progressBarLabel->setVisible(true);
         progressBar->setFormat(tr("%1 behind").arg(timeBehindText));
-        progressBar->setMaximum(totalSecs);
-        progressBar->setValue(totalSecs - secs);
+        progressBar->setMaximum(1000000000);
+        progressBar->setValue(clientModel->getVerificationProgress() * 1000000000.0 + 0.5);
         progressBar->setVisible(true);
 
         tooltip = tr("Catching up...") + QString("<br>") + tooltip;
diff --git a/src/qt/clientmodel.cpp b/src/qt/clientmodel.cpp
index 5f3368c30a..858fbe241f 100644
--- a/src/qt/clientmodel.cpp
+++ b/src/qt/clientmodel.cpp
@@ -6,6 +6,7 @@
 
 #include "alert.h"
 #include "main.h"
+#include "checkpoints.h"
 #include "ui_interface.h"
 
 #include <QDateTime>
@@ -54,6 +55,10 @@ QDateTime ClientModel::getLastBlockDate() const
         return QDateTime::fromTime_t(1231006505); // Genesis block's time
 }
 
+double ClientModel::getVerificationProgress() const
+{
+    return Checkpoints::GuessVerificationProgress(pindexBest);
+}
 
 void ClientModel::updateTimer()
 {
diff --git a/src/qt/clientmodel.h b/src/qt/clientmodel.h
index 1afccb7859..a3fe92048c 100644
--- a/src/qt/clientmodel.h
+++ b/src/qt/clientmodel.h
@@ -34,6 +34,7 @@ public:
     int getNumBlocks() const;
     int getNumBlocksAtStartup();
 
+    double getVerificationProgress() const;
     QDateTime getLastBlockDate() const;
 
     //! Return true if client connected to testnet