Topic: If Miners Come Back to Bitcoin Network? (Read 277 times)
I am not an expert in btc mining but i think that the price for btc will definitely increase. i hope that the price will rise because i have some coins and i want to sell them and get the price difference. to my mind, it is better to invest in btc coins now
Bitcoin cash that has a good hashing power because Roger Ver and Bitmain are behind it and according to a research done, Bitcoin mining is more profitable. Bitcoin is here to stay, this is just FUD and we'll get over it.
Bitcoin mining isn't just more profitable, but also more preferred even if it's less profitable in this case. Mining BCH nets just that, BCH. Mining Bitcoin nets BTC, which they use to convert to BCH and directly inflate BCH's price. It absolutely stings Roger and Bitmain that they can't fully mine Bitcoin because they constantly have to allocate hashrate to their own chain if BCHSV's hashrate increases.
nChain and CoinGeek have a firm grip on the situation, and the 'hash war' only ends when these assholes stop threatening to attack the BCH chain. It's a nasty situation and I have seen at least one service already that ditched BCH, and rightfully so.
I don't think that miners has any big influence on the price of Bitcoin, even if they unites, price depends on several factors, you can google it.
of course the pump will quickly occur because the supply of bitcoin has started to thin out, we only need a few more years to spend the supply. My target is that in 2025 bitcoin has become a currency whose price can go up to 50k
Miners will be back and will go also. it is their choice of what to mine.
Well we will see the future of bitcoin that there will be no more miner needed.
It is one of the best upgrade for bitcoin.
Well we will see the future of bitcoin that there will be no more miner needed.
It is one of the best upgrade for bitcoin.
people have to realize that miners have always been and will always be workers. and workers will always work for money. they don't go anywhere as long as there is money and they will grow as long as there is money to be made.
that is the case with bitcoin. if it is more profitable to mine it, there will be more miners. and if it is less profitable to mine it then there will be less "workers" mining bitcoin. and bitcoin is designed in a way to adapt to the situation and make the network always work fine.
that means they don't set the price, the price sets their behavior.
that is the case with bitcoin. if it is more profitable to mine it, there will be more miners. and if it is less profitable to mine it then there will be less "workers" mining bitcoin. and bitcoin is designed in a way to adapt to the situation and make the network always work fine.
that means they don't set the price, the price sets their behavior.
If the price drops below $4k, the panic could happen again and the price would drop much more.
Most miners will stop mining because it wont be profitable if the price drops below $4k.
However, prive will recover sooner or later as adoption rate will increase with the time, even if the price will recover slowly.
Most miners will stop mining because it wont be profitable if the price drops below $4k.
However, prive will recover sooner or later as adoption rate will increase with the time, even if the price will recover slowly.
I do not really understand about bitcoin fork as BCH has been doing it to bitcoin. As I understand base on wikipedia (https://en.wikipedia.org/wiki/Fork_(software_development) states that "In software engineering, a project fork happens when developers take a copy of source code from one software package and start independent development on it, creating a distinct and separate piece of software." So, probably BCH has and bitcoin has something that has been created and that BCH that has copied the source code of bitcoin and made an independent development. However, why is it that BCH still down if some investors has pulled out on bitcoin and invest BCH?
Actually BCH doesn't do that. Some rich people wants to make their profit more. And trying to manipulate BTC when they are doing it.
wrong. the network has been constantly getting stronger. the hashrate is on a constant rise which makes the network stronger. and also the number of nodes has been growing of course apart from a big drop a couple of years ago but mostly there has been growth which makes the network more decentralized.
He is right, the difficulty has dropped to August levels, and we're in for another massive drop of maybe even 13%.
https://diff.cryptothis.com/
you are very wrong. bitcoin has only had a handful of forks (possibly 3), the fork somewhere in 2010 to fix an overflow bug, the fork later on to activate p2sh scripts, and the fork in 2017 to activate SegWit are the two off the top of my head. it had no other forks.
there were many who copied bitcoin code and blockchain. that is a form of fork but you can't call it "bitcoin forked or split". even litecoin is a fork of bitcoin! but bitcoin didn't split...
there were many who copied bitcoin code and blockchain. that is a form of fork but you can't call it "bitcoin forked or split". even litecoin is a fork of bitcoin! but bitcoin didn't split...
Litecoin started with their own chain, the forks like BCH or Bgold have kept the balances and that transactions already mined.
There were at a point 34 of them yeah, those are forks.
If all (or some) miners will come back, what will happen to Bitcoin price?
Nothing, the price would have to change first.
you can't come back to something that you never left!
You all know, Bitcoin has forked many time.
you are very wrong. bitcoin has only had a handful of forks (possibly 3), the fork somewhere in 2010 to fix an overflow bug, the fork later on to activate p2sh scripts, and the fork in 2017 to activate SegWit are the two off the top of my head. it had no other forks.Quote
There are so many forks coin which splitted from Bitcoin.
there were many who copied bitcoin code and blockchain. that is a form of fork but you can't call it "bitcoin forked or split". even litecoin is a fork of bitcoin! but bitcoin didn't split...Quote
So Bitcoin network was getting weaker this forks.
wrong. the network has been constantly getting stronger. the hashrate is on a constant rise which makes the network stronger. and also the number of nodes has been growing of course apart from a big drop a couple of years ago but mostly there has been growth which makes the network more decentralized.Quote
If all (or some) miners will come back, what will happen to Bitcoin price?
as I said nobody left to come back. a small number of them (about 3 or 4%) shut down their miners after the price dropped because it became harder for them to mine bitcoin. 
You all know, Bitcoin has forked many time. There are so many forks coin which splitted from Bitcoin. So Bitcoin network was getting weaker this forks.
If all (or some) miners will come back, what will happen to Bitcoin price?
I guess it is not so possible actually but, I wish it would.
People already mentioned that the effect on the price will be insignificant, but I'd like to make an explanation why that is so. Let's suppose that miners from bitcoin cash, bitcoin private and all those other bitcoin kinds return to the bitcoin. For about a week, maximum two weeks they will mine the blocks faster and might get a short-term profit. Then the difficutly rate will adust and it wouldn't matter anymore how many miners there are. This is a short-term effect on the speed of mining. Perhaps, it will also reduce the transaction fees a bit, but they are low anyway now, so who cares. Returning to the impact on the price, I'd say that it might be positive in case many news portals publish stuff like 'great news, miners are returning to the network!' and people will think that this will lead to price growth. Then those people who just don't know that mining doesn't affect the pricing, will start buying bitcoins that will lead to price growth. If all (or some) miners will come back, what will happen to Bitcoin price?
I guess it is not so possible actually but, I wish it would.
Bitcoin miners are very important but I don't see how they affect the price of bitcoin. The work and the significance of miners cannot be over emphasized,I believe if all miners who have stopped the mining of bitcoin comes back, the speed of transaction would increase significantly.
nothing will happen because it does not affect the price of bitcoin. I think that arno or later it will happen anyway
All forks failed, If anyone is mining these forked coins right now, It's probably not because It's so profitable but rather they think it will take bitcoin's place in the future so It will be more valuable in the future.
Bitcoin cash that has a good hashing power because Roger Ver and Bitmain are behind it and according to a research done, Bitcoin mining is more profitable. Bitcoin is here to stay, this is just FUD and we'll get over it.
Bitcoin cash that has a good hashing power because Roger Ver and Bitmain are behind it and according to a research done, Bitcoin mining is more profitable. Bitcoin is here to stay, this is just FUD and we'll get over it.
I do not really understand about bitcoin fork as BCH has been doing it to bitcoin. As I understand base on wikipedia (https://en.wikipedia.org/wiki/Fork_(software_development) states that "In software engineering, a project fork happens when developers take a copy of source code from one software package and start independent development on it, creating a distinct and separate piece of software." So, probably BCH has and bitcoin has something that has been created and that BCH that has copied the source code of bitcoin and made an independent development. However, why is it that BCH still down if some investors has pulled out on bitcoin and invest BCH?
Of course when all this Bitcoin Cash war is over, those who shifted their hash power to support their coins (ABC or SV) will gradually populated to Bitcoin again because here is where the money is. Just look at how those two forked coins now, they also lost so much value because of their own doing. If they realises that this war will cost them too much money, then gradually they will go back to Bitcoin, no doubt about that.
Miners do not have a significant effect on the price.
You all know, Bitcoin has forked many time. There are so many forks coin which splitted from Bitcoin. So Bitcoin network was getting weaker this forks.
If all (or some) miners will come back, what will happen to Bitcoin price?
I guess it is not so possible actually but, I wish it would.
If all (or some) miners will come back, what will happen to Bitcoin price?
I guess it is not so possible actually but, I wish it would.
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