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Topic: what will happen if miners stop mining bitcoin? - page 3. (Read 4840 times)

newbie
Activity: 112
Merit: 0
Scarcity will arise and the price of the cryptocurrency will definitely shoot up since they will br low supply and higher demand in the market.
jr. member
Activity: 238
Merit: 1
if the miners stop producing bitcoin, then the coin generally ceases to exist because the technology consists in the fact that due to the included computers and transactions are made
sr. member
Activity: 532
Merit: 255
If, the miners stop mining activities, it can certainly result in the loss of several block chains, so that the stability/quality of bitcoin security tends to decrease. Don't be surprised if finally bitcoin is vulnerable to hacking. Maybe, this's the end of all bitcoin's popularity.
full member
Activity: 392
Merit: 100
The already mined one will be the one in circulation which xan cause a lot of rise because they will be more demand since on the ones already created.
copper member
Activity: 294
Merit: 1
If miners stop mining bitcoin,  the demand of btcoin will overtake the supply of it......which in turn will bring about monopolistic tendencies in the crypto market,  as those who have the money will continue buying the available bitcoin and hoarding it..... then start selling at a high rate.
legendary
Activity: 2464
Merit: 1387
My understanding is that as miners cease mining the difficulty level reduces
enabling new miners to enter the sphere.

And this is why mining will not get a chance to cease there will always be people
ready to start mining and earning rewards.
member
Activity: 378
Merit: 11
Where miners to stop mining, the availability of bitcoins for all and sundry will greatly diminish and the price of bitcoin will be manipulated by the whales and forces that seek to profit greedily from such limited volume of bitcoin. It could be all wishy washy and unpredictable market prices.
cr7
full member
Activity: 364
Merit: 100
It is true that Bitcoin mining costs are now greater than actual market rate of Bitcoin. So bitcoin miners are in great loss. If miners stop mining Bitcoin, Its security will be in great trouble and bitcoin price will surely fall.
The price is already not at its best, and not changing. for the price to drop it would make the situation way worse
Despite what they say bitcoin mining and the rest of the cryptocurrency is unprofitable, my friend does not disable the farm and continues to mine! Since we all know that bitcoin is limited and in a couple of years it will cost a lot more.
member
Activity: 350
Merit: 10
if miners stop mining for bitcoin it will certainly have an adverse impact on the continuity of bitcoin, but in my opinion that won't happen because bitcoin mining is very profitable, and I believe the value of bitcoin will continue to rise year by year
newbie
Activity: 54
Merit: 0
In my view, blocks would cease to be found and transactions would halt. Developers would probably create an emergency hard fork to change perhaps the Proof of Work or difficulty adjustment so that mining could restart. But I believer this can't happen at this point. There are few pools but there are a lot of individual miners across the world. Antpool alone has thousands of workers. If it shut down they will simply switch to other pool or mine solo
full member
Activity: 644
Merit: 102
Miners will continue to mine bitcoin till the end . I do not see them not mining bitcoin  because they are rewarded for work done
jr. member
Activity: 168
Merit: 3
It will not be soon and by then it is unknown what will happen to this network.The miners will receive a Commission from the transaction
newbie
Activity: 70
Merit: 0
in my opinion the btc value will continue to decrease. and many people will store it up
no more transactions, that's what will happen.
copper member
Activity: 166
Merit: 1
It is very hard to think that miners stop Bitcoin mining at the earliest. A mining never end. If the miners stop mining Bitcoin then it will not be processed and our transactions will not be confirmed. Miners confirm the transactions by adding them to the block chain. I think, if there is no miners, there would not be any transaction record in future.
jr. member
Activity: 154
Merit: 1
It is true that Bitcoin mining costs are now greater than actual market rate of Bitcoin. So bitcoin miners are in great loss. If miners stop mining Bitcoin, Its security will be in great trouble and bitcoin price will surely fall.
The price is already not at its best, and not changing. for the price to drop it would make the situation way worse
newbie
Activity: 21
Merit: 0
Positivism is important in everything we do. I totally understand this question and I know people worry a lot about Bitcoin. Many of them have lost their earnings. It is sad when you put your money in something and you lose it. Unfortunately, it is business. Now about your particular question, nothing will happen. I think if miners stop mining bitcoin, we can still use it in some transactions. There are many things we can do with a currency and Bitcoin as well. Too many possibilities with cryptos and the blockchain technology. People can still use it even if miners stop mining bitcoin.
hero member
Activity: 2912
Merit: 556
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actually, I don't know about this but I think we only have bitcoin that already mined and the rest of bitcoin will stay in the block and never found. and besides that, I think this will make bitcoin to stop producing and maybe in that time, there will a way to continue the process so mining bitcoin will still exist. but I don't think that the miners will stop to mining bitcoin because at least, they can have bitcoin and they can sell the bitcoin to make money which can cover their electricity fee.
newbie
Activity: 196
Merit: 0
What will happen if miners stop mining bitcoin? Will result in broken blockchain or any other problems to the network? I would like to buy some bitcoin for long-term investment and not plan to sell for years
So, scarcity of bitcoin will happen. And this scarcity will lead to lesser investors until no more will sell and of course will buy. Crypto currency will stop and disappear.
full member
Activity: 395
Merit: 100
  Bitcoin is a digital decentralized electronic currency distributed  world wide without a third party that is the government takes no role in it . How can miners stop mining Bitcoin if it happens then there will not be any investors or buyers in Bitcoin community and that will be failure of Bitcoin .  There will be no transactions through Bitcoin blockchain  Bitcoin will become insecure when miners stop mining .  There are total 21 million of Bitcoin and already 16 million of Bitcoin have been mined .
newbie
Activity: 30
Merit: 0
If stop digging Bitcoin, I think it will take a long time and find the coin scarce. So how can that not happen?
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