Topic: what will happen if miners stop mining bitcoin? - page 10. (Read 4840 times)
It will make a huge impact in the market. Miners will only stop to mine if they think it is no longer profitable to them. If that happens, the value of bitcoins will drop down gradually.
With no miners we would have no network it would solve the high transaction fee problem. In all seriousness tho we need miners to continue the supply we are still a long way away from everything being mined.
Market will be greatly affected if miners will stop mining because mining is the biggest way for the market to increase its supply in the market and if it will be remove then the circulation will be slower and might decrease the coins value.
I don't see any problem if they stop mining because this is eventually what will happen when the whole 21million is fully mined. But what is key is if the transactions are allowed to confirm when initiated the moment that is done, we are good and comfortable in my opinion but others could express more fear than this as to the important role miners play in the scheme of events as it relates to bitcoin and blocks confirmation or mining.
In my own opinion, Miners is really affecting the circulation of the entire market because the percentage of miners who are contributing to the market is very high and mining is the first option to earn bitcoins.
Miners will not stop as long they see an opportunity and potential.
As long there is a bitcoin demand miners will continue to build rigs.
As long there is a bitcoin demand miners will continue to build rigs.
Miners are the reason why our transactions are confirmed, my question here what if we reach the 21m Bitcoin supply? What will happen to our transactions since miners doesn't have anything to mine anymore? Are they going to keep mining to continue confirming each transaction even if they cannot mine any Bitcoin anymore?
The selling value of bitcoin will drop dramatically, bitcoin prices continue to rise as more and more people are searching.
As with gold jewelry, as the gold price approaches suddenly rises but after the holiday and the crowd sells their jewelry the selling value of gold will go down. Something will be worth it when needed, as well as bitcoin, the more people who mine and look for bitcoin the higher the price.
As with gold jewelry, as the gold price approaches suddenly rises but after the holiday and the crowd sells their jewelry the selling value of gold will go down. Something will be worth it when needed, as well as bitcoin, the more people who mine and look for bitcoin the higher the price.
I think bitcoin will not run out not because of mining alone, bitcoin own ... own, well when miner stop mining, in this case BITCOIN out in mining
According to my understanding, it is always required to have miners involvement to confirm the transaction in blockchain technology. Only after some mathematical functions run by the miners, will create a block with the confirmation of transactions in that block. With the nature of the blockchain, there should be someone to confirm the transactions. That is miners do.
It is impossible to happen since bitcoin is creating new opportunities for miners to reach their dreams. Bitcoin would never end since if a miner stopped another miner will engage.
If the existing miners stop producing bitcoin, then there will be new miners who will do it instead of them. Bitcoin is the currency of consensus. And only the refusal of users can destroy it.
I think no one will do like that, no one will leave mining but only the small miners who will not earn good amount , there are a lot of other big miners who know well that mining is beneficial and they will not leave mining.
As you know, bitcoin is getting more and more popular, i believe that there are some people who failed, can detract it. So there have many people earning profits as well as failing from investing it. But most of people who invest btc, they all know that btc brings to them many chances to achieve benefits ,that’s one of the most attractive which make btc grow and exist. I think btc is really safe, no one will top mining btc. So don’t worry, if you see that it’s a big chance to invest btc for a long term ,you should choose it.
Bitcoin Cash (BCH) is already significantly more profitable to mine than Bitcoin. Many miners are switching to Bitcoin Cash already and Bitcoin transaction times and mining fees are skyrocketing.
Bitcoin is slowly dying...
Bitcoin is slowly dying...
I hope not. I still have high hopes in bitcoin. If the problems in bitcoins won't be fixed, I guess it would mean end to it.
Then there are some users are now turn to mine other coin because they do not like the high mining fee of bitcoin or they do not afford to have mining hardware for bitcoin.
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
Go ahead and buy for the longer term, keep them safe in a hardware wallet for years before selling them. Nothing will happen to the bitcoin network as miners will not stop mining as long as there is some incentive to them or being the fees when sending a bitcoin transaction. There will always be transaction fees as long as people will keep using bitcoins and by the calculation the last coin will be mined to make 21 mln coins available in the year 2140, which pretty sure we would all be dead by then so do not worry as nothing will happen, except that the price may skyrocket after those years and you be a rich man back then when you will sell your coins.
yes, like you said we will be dead by year where bitcoin is stop mined. i know the price will to go to sky if the miners stop doing mining.
but just think about our child or maybe grandchild in that year who use bitcoin, i am just curious what bad thing will be happen if no mining anymore?
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
the possibility of bitcoin has run out of supply and this will be the trigger of the scarcity and overpriced bitcoin price, this will make the bitcoin more expensive and altcoin begin to grow trying to kill bitcoin.
Bitcoin Cash (BCH) is already significantly more profitable to mine than Bitcoin. Many miners are switching to Bitcoin Cash already and Bitcoin transaction times and mining fees are skyrocketing.
Bitcoin is slowly dying...
Bitcoin is slowly dying...
I hope not. I still have high hopes in bitcoin. If the problems in bitcoins won't be fixed, I guess it would mean end to it.
If miners stop mining the network, than the security is degraded and the network would be susceptible to attacks such as the infamous %51 attack 
. But that will not happen unless bitcoin's price drops down to 100$ or smth like that. As long as mining is profitable, people will be mining bitcoins.
. But that will not happen unless bitcoin's price drops down to 100$ or smth like that. As long as mining is profitable, people will be mining bitcoins.
Bitcoin Cash (BCH) is already significantly more profitable to mine than Bitcoin. Many miners are switching to Bitcoin Cash already and Bitcoin transaction times and mining fees are skyrocketing.
Bitcoin is slowly dying...
Bitcoin is slowly dying...
If for some reasons bitcoin mining will be halted. I think all of the transaction won't be processed. No one can withdraw thier money, invest, or transfer their funds.
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