Bitcoin and other crypto projects all work connected to a blockchain network. Transactions for crypto money projects are very important. Therefore, mining operations are of great importance.
Blockchain mining means no transaction. This is unacceptable.
Topic: [Question] What will happened to Bitcoin if there's no miner? - page 2. (Read 738 times)
If there were no bitcoin miners, there is no one validating the block that contains transactions within. Therefore, the blockchain will stop, but still there to exist. For the blockchain to work, there must be a new set of rules to validate transaction.
But, well, if bitcoin would become more and more valuable, the payment for transactions would make mining more interesting for miners, right? So for now everything is based on bitcoin popularity: if it would stay popular, miners would not stop mining, right? 
If there were no bitcoin miners, there is no one validating the block that contains transactions within. Therefore, the blockchain will stop, but still there to exist. For the blockchain to work, there must be a new set of rules to validate transaction.
I don't know much about technical stuff either. But I've read an article, it said "miners and mining machines were never envisaged to be part of the core infrastructure powering any blockchain technology. Rather, mining emerged purely as a way of controlling the partition of limited ‘coin’ resources for any given ‘blockchain’ product. In actual fact though, for the purposes of decentralization, mining should really be a redundant process". I don't have my own opinion, I think it could be consulted though.
If there are no miners transaction is impossible also there will be no value for BTC. Miners are those who make the confirmation of transactions, yes BTC mining will not be profitable at the moment but in near future it will be useful.
assuming that there are NO MINERS - Transactions wont get confirmed and the blockchain will stay inactive until such time someone’s gpu with the bitcoin blockchain starts hashing again and the cycle continues from where it left off.
Yeah things will get pretty stagnant with people opting to just hold on and keep their bitcoins instead. That's why i think that whales won't allow the price to plummet deeper that the miners would all just cease or shift to another coin.
assuming that there are NO MINERS - Transactions wont get confirmed and the blockchain will stay inactive until such time someone’s gpu with the bitcoin blockchain starts hashing again and the cycle continues from where it left off.
You don't have to be good to know what will happen, you just need to understand what Bitcoin miners do. If there will be no miners that mines Bitcoin then no one will process all the transactions that will be made by users, meaning all transactions in Bitcoin network will not be verified and it will be dead, because miners are the one who verify all the transactions. But it is very unlikely for now for this to happen even a lot of miners are selling their rigs or changing the coin they want to mine.
Bitcoin transactions will stop because no new blocks are generated for verification transactions and no new bitcoin will be generated. Due to the stagnation of bitcoin transactions, all Bitcoin holders will panic and cannot Selling bitcoin, which also means that bitcoin will become a price of 0. At the same time, all crypto will have a huge drop due to this, which is the beginning of the crash.
However that won't happen because if mining falls then normal users can mine using graphics cards and CPUs again
But wouldn't it lead to decreasing the speed of transactions? To me no blockchain network or very-very slow blockchain network is neraly the same. Am I wrong? 
If it stops completely then the transactions won't be processed and the system breaks down. However that won't happen because if mining falls then normal users can mine using graphics cards and CPUs again
I think bitcoin as we know it will end, because no transactions will be processed without miners.
If there's no mining then how the transaction will happen? BTCs reputation will automatically go down and the users will lose faith in this. If BTCs are mined the transaction speed will increase and supply too will increase and the value can go up.
We can simply start mining again using CPU or other devices. I'd gladly mine bitcoin if everybody doesn't want to. Just on a side note, when max supply is reached, there will be no more additional supply. Miner profits will come from transaction fees. At that point, I believe 1 bitcoin will worth more than $100k/$1 m.
If there's no mining then how the transaction will happen? BTCs reputation will automatically go down and the users will lose faith in this. If BTCs are mined the transaction speed will increase and supply too will increase and the value can go up.
the same thing will happen when all the BTCs are mined, there will be no more supply and probably BTC will start growing sky high.
it will happen in more than 100 years from now so you can not possibly begin to predict what will be happening by then. not to mention that in a hundred years from now, bitcoin is either grown fully (as in being mass adopted) or it is simply dead and replaced by something else along the way. in either case there won't be a new growth by then. price might as well be already worth above $10 million per coin.
the same thing will happen when all the BTCs are mined, there will be no more supply and probably BTC will start growing sky high.
I think the thing is very simple
Whenever the miners stop mining bitcoin, the production stops which will lead to less supply to customers and the little with some customers may get inflated and thereafter, such product might stop to exist ditto to bitcoin as well.
Whenever the miners stop mining bitcoin, the production stops which will lead to less supply to customers and the little with some customers may get inflated and thereafter, such product might stop to exist ditto to bitcoin as well.
December 31, 2018, 07:02:28 AM
I have read some good commentaries. The one that interest me most is that: No confirmation and no new bitcoin will be issued. Nevertheless the bitcoin will still be existing but inactive. Now my questions are: Can the bitcoin protocol be switch from proof-of-work to proof-of-stalks to avoid any future trouble with the network at the event of heavy price fall below profit level? 2. Does few miners not guarantee more rewards for the miners and reduced difficulty level, but slow confirmation time? Thanks
December 31, 2018, 06:00:25 AM
you first have to understand the following:
- a miner in a PoW algorithm coin is someone who is performing "work" to find new blocks.
- the more miners working on the same thing the harder the "job" is going to be and conversely the less workers work on the "job" the easier it is going to be.
so you question all comes down to how much do you think bitcoin is giong to be used and be popular? when it gains more popularity there will be more people "working" and if it loses it then there will be less. in an extreme case when everyone leaves the "difficulty" can drop until you can mine it easily with your PC. so in other words bitcoin can only die if every single person stops using it.
- a miner in a PoW algorithm coin is someone who is performing "work" to find new blocks.
- the more miners working on the same thing the harder the "job" is going to be and conversely the less workers work on the "job" the easier it is going to be.
so you question all comes down to how much do you think bitcoin is giong to be used and be popular? when it gains more popularity there will be more people "working" and if it loses it then there will be less. in an extreme case when everyone leaves the "difficulty" can drop until you can mine it easily with your PC. so in other words bitcoin can only die if every single person stops using it.
Yes this is my understanding of what would happen.
If a scenario were to come about where mining activity was falling the
difficulty level also falls, and if the difficulty falls enough new miners
will start and replace those who stopped earlier.
Now on the other scenario where every single miner ceased operations
at the exact same time (fantastically unlikely) transactions will not be
confirmed.
Byt its best not to be worried about and event like this happening.
December 31, 2018, 05:35:11 AM
you first have to understand the following:
- a miner in a PoW algorithm coin is someone who is performing "work" to find new blocks.
- the more miners working on the same thing the harder the "job" is going to be and conversely the less workers work on the "job" the easier it is going to be.
so you question all comes down to how much do you think bitcoin is giong to be used and be popular? when it gains more popularity there will be more people "working" and if it loses it then there will be less. in an extreme case when everyone leaves the "difficulty" can drop until you can mine it easily with your PC. so in other words bitcoin can only die if every single person stops using it.
- a miner in a PoW algorithm coin is someone who is performing "work" to find new blocks.
- the more miners working on the same thing the harder the "job" is going to be and conversely the less workers work on the "job" the easier it is going to be.
so you question all comes down to how much do you think bitcoin is giong to be used and be popular? when it gains more popularity there will be more people "working" and if it loses it then there will be less. in an extreme case when everyone leaves the "difficulty" can drop until you can mine it easily with your PC. so in other words bitcoin can only die if every single person stops using it.
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