Topic: How easy is it to shut down Bitcoin? - page 2. (Read 1380 times)
If China stops, I'll probably will start myself. More profitable if they all stop.
If the Government decides or is pressured to shut down the mining farms, which are just a few in number, wouldnt the network go down?
No, the network would most certainly not go down. Do you even know how a P2P network works?Is there enough miners to continue verification's?
Yes.Will miners voluntarily shut down at the halving and if the value of Bitcoin went back to $300ish?
Why would they do that? Mining is a 'self-regulated' cycle. If it becomes unprofitable, some are going to stop mining -> difficulty will reduce -> mining is profitable again. One possibility of bitcoin shutting down is within the internet shutting down itself for good. But that's nearly impossible.
If that were the case, Bitcoin would be the least of 'our' problems. It would be easy. Just shut down the internet.
That's anything but easy.
It would be easy. Just shut down the internet. You could go with the escape from LA scenario.
It's nearly impossible to shut down bitcoin.
Even if those chinese miners go down, it would be a feast to many other miners because the competition is less and the difficulty of mining will dramatically drop.
One possibility of bitcoin shutting down is within the internet shutting down itself for good. But that's nearly impossible.
Even if those chinese miners go down, it would be a feast to many other miners because the competition is less and the difficulty of mining will dramatically drop.
One possibility of bitcoin shutting down is within the internet shutting down itself for good. But that's nearly impossible.
As Bitcoin needs the mining farms to maintain transactions, how easy is it to shutdown?
Lets take China as an example, since they are the major farms...
If the Government decides or is pressured to shut down the mining farms, which are just a few in number, wouldnt the network go down?
Is there enough miners to continue verification's?
or
Will miners voluntarily shut down at the halving and if the value of Bitcoin went back to $300ish?
It is not easy to shutdown bitcoins, You need to cut first the internet, Cause if there is no internet there will be no bitcoins. and if the miners stop the mining , but i think they wont stop mining cause they are gaining profits from it Lets take China as an example, since they are the major farms...
If the Government decides or is pressured to shut down the mining farms, which are just a few in number, wouldnt the network go down?
Is there enough miners to continue verification's?
or
Will miners voluntarily shut down at the halving and if the value of Bitcoin went back to $300ish?
How easy is it to shut down Bitcoin?
Assuming the Internet is functioning, then Bitcoin cannot easily be shut down.
If all major ISP's were pressured to block BTC's port # we would have temporary chaos and many fun challenges.
Assuming the Internet is functioning, then Bitcoin cannot easily be shut down.
If all major ISP's were pressured to block BTC's port # we would have temporary chaos and many fun challenges.
Bitcoin could easily change port number or potentially piggyback on a different protocol that is opaque to content (such as HTTPS).
How easy is it to shut down Bitcoin?
Assuming the Internet is functioning, then Bitcoin cannot easily be shut down.
If all major ISP's were pressured to block BTC's port # we would have temporary chaos and many fun challenges.
Assuming the Internet is functioning, then Bitcoin cannot easily be shut down.
If all major ISP's were pressured to block BTC's port # we would have temporary chaos and many fun challenges.
As Bitcoin needs the mining farms to maintain transactions, how easy is it to shutdown?
Lets take China as an example, since they are the major farms...
If the Government decides or is pressured to shut down the mining farms, which are just a few in number, wouldnt the network go down?
Is there enough miners to continue verification's?
or
Will miners voluntarily shut down at the halving and if the value of Bitcoin went back to $300ish?
Lets take China as an example, since they are the major farms...
If the Government decides or is pressured to shut down the mining farms, which are just a few in number, wouldnt the network go down?
Is there enough miners to continue verification's?
or
Will miners voluntarily shut down at the halving and if the value of Bitcoin went back to $300ish?
Shutting down bitcoin is not as easy as you think since even China will not mine there are new and large mining factories cosntructed in different parts of the world such as the new one in Canada. As long as there is monetary value and demand in bitcoin there will be miners if not a factory individual miners will pop out. It is not easy to increase the supply of bitcoin but it is still not a problem which cannot be solved.
If China all of sudden stopped mining, the difficulty of the network would go down, making it more profitable for people elsewhere to mine. So no, Bitcoin wouldn't go down. The difficulty might go down, but that wouldn't be a problem.
...although, my Jalepenos would love to be hashing again...
...although, my Jalepenos would love to be hashing again...
As Bitcoin needs the mining farms to maintain transactions, how easy is it to shutdown?
Lets take China as an example, since they are the major farms...
If the Government decides or is pressured to shut down the mining farms, which are just a few in number, wouldnt the network go down?
Is there enough miners to continue verification's?
or
Will miners voluntarily shut down at the halving and if the value of Bitcoin went back to $300ish?
Lets take China as an example, since they are the major farms...
If the Government decides or is pressured to shut down the mining farms, which are just a few in number, wouldnt the network go down?
Is there enough miners to continue verification's?
or
Will miners voluntarily shut down at the halving and if the value of Bitcoin went back to $300ish?
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