Puzzle 9 : More gold and more splitting

There are now 1000 Pirates. The treasure is to be divided by the following manner (more democratically :).

Every day, the Pirate vote to either
1) kill the captain, or
2) split the pot of gold up among the remaining pirates equally.

If 50% or more of the Pirates vote to split the pot of gold, the treasure gets split . Otherwise the captain is killed. Assume that all the Pirates know the order of assuming captaincy. The process is repeated until the gold is split.

The question is: When will the gold be split?