Topic: what will happen if miners stop mining bitcoin? - page 11. (Read 4840 times)
We would have a serious problem if miners switched to another cryptocurrency (which by the way is very unlike to happen). Bitcoin developers would be forced to change the algorithm to allow GPU mining or even switch to Proof of Stake which differs a lot from Proof of Work. Bitcoin is one of the most profitable cryptocurrencies to mine on ASICs. The biggest risk are hard forks which may take away huge amount of miners from the "legacy Bitcoin".
No transactions would be processed nor would any new cin be unlocked. It's pretty straight forward.
I hope this never happens. The miners are interested in BTC support, they make huge money ,so i dont see the reasons for them to quit right now. But i don't know what happens when will Lightening network will integrated...so , fees should reduce and the interest of miners possibly will be reduced.
after all what is the reason why they stop mining if the bitcoin price is as good as this? I think it will be difficult to happen. if they stop mining it means they miss a good chance. But if that happens, miners stop mining, then the outstanding bitcoin will become more expensive.
I hope this never happens. The miners are interested in BTC support, they make huge money ,so i dont see the reasons for them to quit right now. But i don't know what happens when will Lightening network will integrated...so , fees should reduce and the interest of miners possibly will be reduced.
You need to gain idea on Blockstream Satellite. There are few satellites launched to allow people who do not have any access to internet. Yet with the use Blockstream Satellite they can exchange bitcoins, which does not need the access to internet.
First of all, hello to everybody 
. I am recently join the forum and I would say thanks to all for sharing information and experience.
In my personal opinion, The way out from this problem is that in the future, every person who have a Bitcoin must be the miner of itself.
I would like to explain what i mean: If everyone have the opportunity to be a miner, due to the technological progress which decrease the cost of mining, and due to a simplification of the interface that users should use to use the software (to confirm blocks), and work together into a big pool, and get paid for that, there isn't risk of crack for Bitcoin. Also the owners of Bitcoin would make stable the value of it.
I apologize if my English is not perfect.
. I am recently join the forum and I would say thanks to all for sharing information and experience.In my personal opinion, The way out from this problem is that in the future, every person who have a Bitcoin must be the miner of itself.
I would like to explain what i mean: If everyone have the opportunity to be a miner, due to the technological progress which decrease the cost of mining, and due to a simplification of the interface that users should use to use the software (to confirm blocks), and work together into a big pool, and get paid for that, there isn't risk of crack for Bitcoin. Also the owners of Bitcoin would make stable the value of it.
I apologize if my English is not perfect.
If miners stop mining bitcoin i think all trading site or mining site using bitcoin will close because if miners stop the supply of bitcoin become low coz many traders sell there bitcoin they have panic selling before bitcoin getting the price is low. That only base in my opinion.
Bitcoin getting lost if miners stop mining.
Bitcoin getting lost if miners stop mining.
In my opinion if miners stop mining Bitcoin the supply of the coins remains steady and the price would rise because of high demand and low on supply
More or less it's will happen with the supply... because the miners are the main bitcoin supplier.... and the price will rising with faster because bitcoin is become a rare things you can get....
In my opinion if miners stop mining Bitcoin the supply of the coins remains steady and the price would rise because of high demand and low on supply
More or less it's will happen with the supply... because the miners are the main bitcoin supplier.... and the price will rising with faster because bitcoin is become a rare things you can get....
In my opinion if miners stop mining Bitcoin the supply of the coins remains steady and the price would rise because of high demand and low on supply but the question comes thru my mind is Bitcoin is already millions circulating to the network,its impossible to drop it's price as others saying Bitcoin would die or failed. Just my opinion though.
miners its just a tools to dig some bitcoin but bitcoin itself is cryptocurrency that we can buy and sell, and if miners stop mining bitcoin, then bitcoin still continue because there are many bitcoin available on the market, so do not worry.
but what if people know because mining process stops, and the number of bitcoin will not increase, and with it people would think bitcoin prices continue to rise and eventually people will continue to hoard bitcoin without anyone willing to sell. If it continues to happen sustainable bitcoin will die. Just my opinion
miners its just a tools to dig some bitcoin but bitcoin itself is cryptocurrency that we can buy and sell, and if miners stop mining bitcoin, then bitcoin still continue because there are many bitcoin available on the market, so do not worry.
maybe if the termination of mining bitcoin , bitcoin be very unsafe if indeed it happens . however , I do not agree with you , if mining stops. I think the miners would stop if something else had killed bitcoin . bitcoin miner is designed to always provide incentives , maintaining and securing the network mining . if miners do not provide assurance / incentives to I am , then I say bitcoin has failed .
minner stop mining bitcoin big effect is bitcoin,
transaction slowly, trust down, and bitcoin down down price,
and community bitcoin is price down trust down too, multiple effect accident is miner stop mining
transaction slowly, trust down, and bitcoin down down price,
and community bitcoin is price down trust down too, multiple effect accident is miner stop mining
according to some people the price of bitcoin will increase may me more increase. because the demand will increase. while other thinks that it will have a very bad effect on the value of bitcoin. let see what happens
the reason is very simple. the minor will stop mining. the the bitcoin supply will decrease and therefore the demand will increase. so people will start buying bitcoin with a high rate which will increase the price of bitcoin. 
according to some people the price of bitcoin will increase may me more increase. because the demand will increase. while other thinks that it will have a very bad effect on the value of bitcoin. let see what happens
If the miners is stop mining . our system is affected. that can cause some problems like slow connection and btc is going down .
Yeah correct bitcoin will going down because can not supply the demand of all users and i think some users looking for other coin who are able to supply their demand and what coin is very stable than bitcoin. That is why we need to support the miners not to stop instead they need to continue mining and expand their mining farm
as i have no experience of halving and mining so i am not understanding the reality of halving and mining. but i am hearing from my friends that if the minr stop mining then the price of bitcion will increase. and i think that is the reason that we can see the present increase in the price of bitcoin.
If understand what is bitcoin actually, then folks will never rise such questions.
Bitcoin is not a thing that discovered or find somewhere on mars or any planet.
Its an invention considering by all outcomes and possibilities.
And release to world for worlds convenience.
Bitcoin is not a thing that discovered or find somewhere on mars or any planet.
Its an invention considering by all outcomes and possibilities.
And release to world for worlds convenience.
We just see one side of blockchain in form of currency, but it has several more advantages for better future.
As in world always new or innovative things are criticized. But Cryptography is really goldmine for human being.
If understand what is bitcoin actually, then folks will never rise such questions.
Bitcoin is not a thing that discovered or find somewhere on mars or any planet.
Its an invention considering by all outcomes and possibilities.
And release to world for worlds convenience.
Bitcoin is not a thing that discovered or find somewhere on mars or any planet.
Its an invention considering by all outcomes and possibilities.
And release to world for worlds convenience.
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