what will happen if miners stop mining bitcoin? - page 6.

Apple Mac

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Quote from: intrader on July 02, 2016, 12:43:14 AM

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 dont think so, if miners will limit themselves to mine excessive Bitcoin I think there is more Bitcoin to be acquired by the people who work herr and I guess that will give us a better way of earning here whoch is different from what is happening nowadays here, the opportunities were getting lesser and they become very strict for the terms and conditions as well as for the people who may be involved to the bounty.

adjong

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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.

jiandong

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in my view, it's possible that someone stopped to mine bitcoin when others were still using it. Based on theory, when all the miners on the blockchain stopped mining bitcoin, the blockchain would be damaged. Because no one wants to confirm the transaction.

deda123

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The World’s First Blockchain Core

from the deapest of my heart i hope that it is not going to happen and if happens i think it is the end of it also in one word we can say it is an end for us also and definitely don t want to happen.

splash914

newbie

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Interest Ask. However, it's hard to imagine ... so people lose interest. However, if this could theoretically happen, the price of bitcoin would fall very quickly ... at least I think so, although I'm unfortunately not an expert in this field

Crypto one

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Quote from: intrader on July 02, 2016, 12:43:14 AM

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

If no once mines bitcoins, you will be unable to send your bitcoins anywhere. The Bitcoin network would turn into a zombie network, like some deserted altcoins are, you would probably be able to trade bitcoins on the exchanges, but you cut not send bitcoins to or from the exchanges.
I don't think the miners will stop mining bitcoins, and remember everyone can be a miner also you.
Sounds like a good plan, get some bitcoins next time we reaching the bottom and keep them for 10 years or more.

conceivedspoon2

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Bitcoin is not a new coin and it will not stop being mined especially because its changing businesses and having a new look for cryptocurrencies. Buy and wait for like 3years and see it become a fortune.

mahibul49

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bitcoin mining is so costly and in this bearish market miners are mining bitcoin bcz they know bitcoin is genuine.and after all bitcoin mined how btc will survived?ame now if miner not mine btc then another way will come.

Macon Bargeman

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Hello !
Theoretically, they could, yes ! But it’s not in there interest. When you mine Bitcoin, you create it for the Network, which means that you don’t have to pay for them. So, it’s a pretty sweet deal! And miners are part of the bitcoin community, they want it to prosper, so they will keep doing it.
There’s a limited of bitcoins that can be mined (21 millions over the years), but until this number is reached, miners will mine.

kirkarsedat

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If the existing miners stop producing bitcoin, then there will be new miners who will do it instead of them. the possibility of bitcoin has run out of supply and this will be the trigger of the scarcity and overpriced bitcoin price

Victorik

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If miners stop mining bitcoin, then their would be no blockchain confirmation and it will render the network useless. But miners will never stop, just as banks will never stop doing business with the public and other financial institutions. They know their gain.

ChocolateMuscles

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I believe it is very unlikely that miners might stop mining bitcoin at all. Not in this life Wink

tungaqhd

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Quote from: intrader on July 02, 2016, 12:43:14 AM

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

Oh it is a bad situation, the transaction will not be confirmed, the price will drop and bitcoin will dead. But i don't think that people will stop mining bitcoin because its price is going up year by year.

nhaane10

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i guess the price of bitcoin will fall down seriously and I hope this will not happen

Kasliono

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Quote from: intrader on July 02, 2016, 12:43:14 AM

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

Based on the teory, when all of miners in the blockchain stop to mine bitcoin, then the blockchain will be broken. Because there is no one who wanna confirm that transaction. But in my view, it is posibble someone stop to mine the bitcoin when the others still use it.

gooddly

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Quote from: ?? on ??

I think bitcoin prices will be higher in the near future. But bitcoin will be increasingly difficult to get, and if it happens, I think the price of bitcoin will start to fall in the near future after the bitcoin prices rise, and it will probably make bitcoin be no longer needed. Mining would not be closed.

If bitokoyn it will be more difficult to get, it, on the contrary, will rise in price. The sale absolutely precisely will not stop, while there is a chance to receive profit. People in general like to receive profit, and in case with bitkoynom it can be all significant))

liyoungjae

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miner bitcoin probably will not stop to mine bitcoin for continuity of blockchain. then do not hesitate to invest in bitcoin.

GreatArkansas

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If that will happen, the transaction in the blockchain will be reduced, the confirmation will become slower. But I do not believe that mining will totally stop because it will not happen. If you are mining, there are rewards so it will not totally stop.

mackenzie5

newbie

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Nothing is going to happens if the miners stop mining because now there are about 18 million bitcoins are there in the market if no body is mining means there will be little shortage in bitcoin means its demand can increase and its price will be going up.Bitcoin is a new form of economy with strong net work systems which can be operated world wide .Its features are found very attractive for the various usage and hence its popularity has wide spread world wide.

Edgarroni

newbie

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I thought them stop mining it already :b the more they keep mining the more time they wasting it.

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