Topic: what will happen if miners stop mining bitcoin? - page 8. (Read 4840 times)
If the miners stop mining the BTC, the BTC's network will become congested and even die. At that time, the price of BTC may drop sharply.
It will be the end of bitcoin at all. However, it is not possible because it is profitable. So simple logic in my opinion
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 consequences of stopping mining are catastrophic. No one will be provided with transactions, they will hang, users will not be able to use cryptocurrency, and because of its uselessness as a means of payment nobody will need it. In fact, it does not look so scary
Nothing will happen to bitcoin networks as miners will not stop mining as long as there is some motivation for them either to charge when sending a bitcoin transaction. The exploit never ends. Because blocks are packaged in a transaction and stored in the database where they are stored, and if the exploit is no longer valid, it can no longer be trafficked. other.
The miner is the most important element of this wheel that processes. Everything gets worse without 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
In this case, price of Bitcoin will increase a lot. There are 4 million Bitcoins that have not been mined yet, and this number is going down day by day, but it is still not finished. Stopping the mining, something like the supply is over and it can absolutely affect price.
There is a possibility that the miners stop mining bitcoin if the demand of bitcoin declines over a period of time there is a domino effect from the end users to miners regarding to the supply and demand of the bitcoin and besides the transaction will be halted as there were no miners to validate the transaction of the blockchain. The bottom line is it all depends to the supply and demand.
Miners never Stop Mining bitcoins because more and more peoples are taking interest in bitcoins and there is no possibilities of they can stop, this thing is possible when bitcoin price will be 100$ to 200$ but now this thing happen only in dreams also bitcoin transaction fees giving miners profits so u can buy bitcoins and hold in hardware wallet like ledger not in exchanges for long times.
I think its not possible that all miners will stop to mine Bitcoin, the difficulty will decrease and someone will continue to support network even with one graphic cart or ASIC.
Even if the bonus reward is halved over time, the charges are assumed to account for the mine preferences. Let's continue and buy for longer, keeping them safe in their hard-earned wallet for many years before selling them. There will always be transaction fees as long as people will continue to use bitcoin and calculate the last penny to be exploited to earn 21 million dollars available in 2140, which we will surely die first beforehand. Worried that nothing will happen, except that the price may skyrocket after those years and you become a rich person then you will sell your money.
There is no such thing as stop mining. Big players invested heavily on hardware and cannot leave a business from night to morning, even if the price collapses. In case some will stop, there will be soon after new players coming in a market which is going to be always lucrative.
What could stop the miners from mining this precious thing? Moreover, bitcoin longer becomes a rare item, will automatically make the price more expensive, especially if there is a good development related to legality. So I guess that's impossible. unless there's a bad thing that destroys cryptocurrency.
you should know that one of the miner functions is to keep the blockchain and store every transaction. then the miner also has a function to validate each transaction, so that the transaction can work well, and the miner is the main aspect that runs all the bitcoin protocols.
from my simple explanation, maybe you can think, what will happen if there is no miners?
from my simple explanation, maybe you can think, what will happen if there is no miners?
if there is no miner, the bitcoin transaction will be disrupted. and will not be stable, the blockchain system will not work properly. even going to die.
but mining will not stop, because mining profits are huge. every difficulty they face makes their profits bigger.
but mining will not stop, because mining profits are huge. every difficulty they face makes their profits bigger.
Miners stop mining bitcoins?
Honestly i really don't think that is possible to happen, because mining are true profitable and if gonna be happen maybe it will collapse.
The whole system will collapse.
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.
The whole bitcoin and crypto community will br down. But I think as long as miners getting enough profit on mining this would not be stop. Unless bitcoin continues to drop it's price, some miners will stop because they cant get enough profit if that's happen. As long as there's a money in mining they wont stop of it. 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.
Today with the concern for Bitcoin, there is not much risk of worrying about this. This of course could be for debate, but theoretically since the founding of Bitcoin, there should always be a mine promoter. Nothing will happen to bitcoin networks as miners will not stop mining as long as there is some motivation for them either to charge when sending a bitcoin transaction.
if there is no miner, the bitcoin transaction will be disrupted. and will not be stable, the blockchain system will not work properly. even going to die.
but mining will not stop, because mining profits are huge. every difficulty they face makes their profits bigger.
but mining will not stop, because mining profits are huge. every difficulty they face makes their profits bigger.
Bitcoin will be completely mine by 2140 and the only reward that would be left for miner is transaction fees which of course will be a better reward for them then because btc will be much worth and the transaction fee might be as better to not too high for the users as well .
Then it would be a sad day for Bitcoin! There would be a lack of transaction verification. Essentially, Bitcoin wouldn’t work without miners.
Fortunately, anyone can mine. And while it might not be profitable or sustainable for some, it will be for others. It’s highly unlikely that everyone would stop mining Bitcoin, unless an alternative with value that exceeds Bitcoin should arise!
Happy mining, miners!
Fortunately, anyone can mine. And while it might not be profitable or sustainable for some, it will be for others. It’s highly unlikely that everyone would stop mining Bitcoin, unless an alternative with value that exceeds Bitcoin should arise!
Happy mining, miners!
if the blocks are not mined, these transactions would not resolve, the value being transferred would sit in limbo and the transactions would need to be cancelled. Value would not be lost, but no transactions could occur.
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