Difficulty can go up and down. The only reason difficulty has been going up is because we are solving blocks (on average) faster than once every 10 minutes. If the network slows down, either due to a difficulty rise or a lose of computing power, then difficulty may decrease.
Mining will never end for so long as Bitcoin is around. We all have to remember, the purpose of mining is to solve blocks or to get block rewards, but to rather facility Bitcoin transactions. If mining stops nobody will be able to transfer money to anybody else. The whole system is dependent upon continued mining.
Topic: The End of Mining ? - page 2. (Read 3761 times)
If mining dies, so does bitcoin. Mining will not die. If mining is no longer profitable, people will stop mining, and the total hashing power of the network will drop. If that happens, the difficulty will also drop at the next reset, making mining profitable again.
What is to become of mining ? I realized the difficulty is going up but what will become of Bitcoin when mining is no longer profitable ? Can the difficulty go down if we all stop mining and block 2016 isn't reached in the proper time frame...? or is it possible that we are going to have to make changes to the pool system. What do you guys think is to become of Bitcoin and mining ?
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