Topic: what will happen if miners stop mining bitcoin? - page 5. (Read 4840 times)
if miners stop mining in bitcoin, bitcoin will experience a change in the crypto market the average transaction in the market will experience a shortage. and this will show the impact on prices, automatically prices start to crawl up. but miners cannot do this because miners also want to make money on 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
We all know that bitcoin is a decentralised and independent crypto currency and moreover it is a currency which keeps on circulating between people so if miners stop mining the bitcoin then obviously its demand will increase and then in turn its valuation will increase but no doubt its keeps on circulating, it is like other Fiat currencies like in case of INR, it is mined by RBI and if they will stop mining INR obviously its demand will increase but still it will be keep in circulation. 
If the miner stop mining bitcoin they have a lot of possibls to happen. But it is low percent to happen because even they have a lot of miner now leave bitcoin they have still mining and other investor will start mining and they don't have reason to stop mining to bitcoin.
There are about 17 to 18 million bitcoins are in the market so far it is mined and if the miners are going to stop mining further it means that the above 18 million bitcoins will be circulating in the market .But bitcoins demand will be increasing and its price can move up..Bitcoin can be useful in various ways of life to the human being world wide and it is found essential to the daily life.of the modern society.
Miners will never stop mining
As long as it is profitable for them and I think it will remain so
Go ahead and buy as much as possible
As long as it is profitable for them and I think it will remain so
Go ahead and buy as much as possible
I don't think miner will stop mining the bitcoin. Because it is profitable and very easy to do. But if bitcoin keep dowing to the under 1K USD or less then I think miner will give up their hope from Bitcoin and they will stop mining. And bitcoin will be finished if every miner stops doing mine.
But I think that will not happen, you can go for buy bitcoin and keep them in a secure hardware wallet.
But I think that will not happen, you can go for buy bitcoin and keep them in a secure hardware wallet.
To say the truth miner will not stop the mining process. Hence we do not need worry about it. Please invest your maximum amount from pocket on bitcoin you will get the best returns than any time.
Until the last computer mine the bitcoin we will not stop from mining.
Until the last computer mine the bitcoin we will not stop from mining.
Miners stop mining bitcoin !!!
As long as people keep using bitcoins they will not stop mining. Mining will continue until all the Bitcoins are finished being created and when the miners stop mining transactions stop. So, Blockchain stop.
As long as people keep using bitcoins they will not stop mining. Mining will continue until all the Bitcoins are finished being created and when the miners stop mining transactions stop. So, Blockchain stop.
I do not think it would be lost if they stopped bitcoin mining because others bought a bitcoin in the market. if the miner was the bridge to increase the btc sure the market was out of stock because there was no supply for everyone investors in the BTC.
That is in some way true but there will be time when the amount of bitcoin will be always the same (cause the number of bitcoin is not infinit). So for me it doesn't matter how many bitcoins will be on market cause there will be always possibilities to make transactions or ways to send coins to other person.
I think the value of bitcoin will go down slowly and the credibility itself. Mang investors will stop in investing on bitcoin because they know that they will not be successful anymore compare to their past investments. And I think other coins will be more credible in other countries and will have higher great price market value and will be given more projects by ICO companies.
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
I don't think miners will stop mining and this is not going to happen as long as miner are receiving their transaction fees and i think there is no reason for not getting their transaction fees as long as there is huge demand of Bitcoin in the cryptocurrency market. You just keep on investing in Bitcoin and you will surely get big returns if you are doing it on regular basis and for a longer time period.
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
I don't think that this is possible even in theory because bitcoin miners are having the profits during the process of mining, so actually they are earning money for that and who will stop earning money just for any purpose?
Why will all miners do that ? If you had invested $10000 for the set up and hope to recover the cost in few years, will you stop mining after some time ?
Some mathematical functions run by miners, will create blocks with transaction confirmation on the block. With the nature of the Blockchain, there is someone to confirm the transaction and that can be done by the miner. 
If miners stop the mining of bitcoin, technically, the rate of unconfirmed transactions will increase.
The blockchain ecosystem will experience turbulence .
This will send negative signal to especially novice investors ..who will then start carrying rumours that bitcoin has scam exited.
Though i do not think , it will ever get to this stage where miners would stop mining.
The blockchain ecosystem will experience turbulence .
This will send negative signal to especially novice investors ..who will then start carrying rumours that bitcoin has scam exited.
Though i do not think , it will ever get to this stage where miners would stop mining.
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 movement of chain will stop. Automatically all transaction will be unconfirmed. The Bitcoin economy will be in chaos. This will result to fear and the buy support will start to be pulled out. And then one by one cpu will start mining it again but due to global low hashrate, this will be susceptible to double spending. But then all those who are holding BTC will make sure this wont happen so they will start mining it by themselves and the domino effect follows. Basically mining Bitcoin wont end even if all coins are mined. This is one of the reason, personal interest and investment security. So be calm and hold your BTC for as long you want.
If miners stop mining then bitcoin will cease to exist 20 years from now. If there are no miners there will be big transactions problem such as major hacking incidents. Long term investment is a big problem not because of miners stop mining but more on the instability of bitcoins price demand on the market. If you will invest long term it needs daily monitoring as to avoid losses.
This of course could be up for debate, but in theory from the inception of Bitcoin, there should always be a miners incentive.
If this would happen I will probably agree. We will need a way miner to keep doing their work. If 21 million is mined and maxed out, this should be the way we pay miners.
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
you have a lot of capital if you can invest in bitcoin you might be successful in the following year like my friend who has succeeded in the present who has invested in bitcoin in the past and now he gets the results and this needs to be emulated
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.
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