Bitcoin Forum
April 19, 2019, 03:42:04 PM *
News: Latest Bitcoin Core release: 0.17.1 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 [2]  All
  Print  
Author Topic: what would if you were to destroy every bitcoin mining operation in the world?  (Read 968 times)
ImHash
Hero Member
*****
Offline Offline

Activity: 812
Merit: 505


WPP ENERGY - BACKED ASSET GREEN ENERGY TOKEN


View Profile
May 01, 2017, 02:59:30 PM
 #21

When doctors say don't let your kids watch horror movies is because of this, now people are having nightmares after finding out about antbleed to a point where they see the possibility of the entire +$1B industry easily going down.
At least make the effort to ask your question properly.

What would've happened if Jihan Wu couldn't get his way with BU and people would've never found out about antbleed? what would happened if he were to shut down all the ant miners remotely?
Then those other manufacturers throw a party and celebrate 7 days and 7 nights Cheesy

﹏﹏﹋﹌﹌ WPP ENERGY ﹌﹌﹋﹏﹏
≈ WORLD POWER PRODUCTION ≈

████████████
██████████████████████
██████████████████████████████
██████████████████████████████████
████████████████████████████████████████
██████████████████████████████████████████
██████████████████████████████████████████████
███████████████████████████████████████████████
██████████████████████████████████████████████████
████████████████████████████████████████████████████
█████████████████████████████████████████████████████
████████████████████████████████████████████████████████
██████████████████████████████████████████████████████████
█████████████████████████████████████████████████████████
███████████████████████████████████████████████████████████
███████████████████████████████████████████████████████████
████████████████████████████████████████████████████████████
████████████████████████████████████████████████████████████
████████████████████████████████████████████████████████████
████████████████████████████████████████████████████████████
████████████████████████████████████████████████████████████
████████████████████████████████████████████████████████████
████████████████████████████████████████████████████████████
██████████████████████████████████████████████████████████
██████████████████████████████████████████████████████████
███████████████████████████████████████████████████████
██████████████████████████████████████████████████████
████████████████████████████████████████████████████
██████████████████████████████████████████████████
████████████████████████████████████████████████
██████████████████████████████████████████████
██████████████████████████████████████████
████████████████████████████████████████
██████████████████████████████████
██████████████████████████████
██████████████████████
████████████
1555688524
Hero Member
*
Offline Offline

Posts: 1555688524

View Profile Personal Message (Offline)

Ignore
1555688524
Reply with quote  #2

1555688524
Report to moderator
1555688524
Hero Member
*
Offline Offline

Posts: 1555688524

View Profile Personal Message (Offline)

Ignore
1555688524
Reply with quote  #2

1555688524
Report to moderator
1555688524
Hero Member
*
Offline Offline

Posts: 1555688524

View Profile Personal Message (Offline)

Ignore
1555688524
Reply with quote  #2

1555688524
Report to moderator
100% New Software
PC, Mac, Android, & HTML5 Clients
Krill Rakeback
Low Rake
Bitcoin Poker 3.0
Bad Beat Jackpot
SwC Poker Relaunch
PLAY NOW
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1555688524
Hero Member
*
Offline Offline

Posts: 1555688524

View Profile Personal Message (Offline)

Ignore
1555688524
Reply with quote  #2

1555688524
Report to moderator
1555688524
Hero Member
*
Offline Offline

Posts: 1555688524

View Profile Personal Message (Offline)

Ignore
1555688524
Reply with quote  #2

1555688524
Report to moderator
1555688524
Hero Member
*
Offline Offline

Posts: 1555688524

View Profile Personal Message (Offline)

Ignore
1555688524
Reply with quote  #2

1555688524
Report to moderator
AT101ET
Legendary
*
Offline Offline

Activity: 1960
Merit: 1093


View Profile
May 01, 2017, 02:59:55 PM
 #22

Transactions are only recorded and confirmed as long as the network is up and running. In order for the Blockchain to function properly it needs the input of miners who ensure that transactions are confirmed and recorded through the mining of other blocks. In other words, it's a self sufficient system. Without the miners there'd be no functioning bitcoin system...
Wesimon
Sr. Member
****
Offline Offline

Activity: 406
Merit: 250


https://gexcrypto.io


View Profile
May 01, 2017, 03:36:36 PM
 #23

How would this effect bitcoin? would it cause us to regress back to a time where we actually counted bitcoin in bitcoins not satoshis, or would bitcoin become insanely expensive?

If the miners stooped mining then the supply will be fixed since no new bitcoin are mined. The value of bitcoin will surely become very high because more users will demand for bitcoin. However, since the miners are responsible for the confirmation of transactions, what would be of bitcoin then? No transactions, no circulation of bitcoin, nothing. Bitcoin will be useless because no one can use it for any type of transaction. Congratulations! You just killed bitcoin! Well done.

             ███
     ▄▄▄▄▄   ▀▀▀
  ▄█████████▄
 ███▀     ▀███▄
███         ███
███         ███
 ███▄     ▄████
  ▀████████████
     ▀▀▀▀▀  ███
            ███
███▄       ▄███
 ▀███▄▄▄▄▄███▀
   ▀▀█████▀▀
gexcrypto
E X C R Y P T O

Global Trading Corp.
████
████
████
████
████  ████
████  ████
████  ████
████  ████
████  ████
      ████
      ████
      ████
      ████
YOUR COMPREHENSIVE CRYPTO TRADING PLATFORM
|       WHITEPAPER       |       FACEBOOK       |       TWITTER       |       ANN THREAD       |
████
████
████
████
████  ████
████  ████
████  ████
████  ████
████  ████
      ████
      ████
      ████
      ████
Clement Kaliyar
Hero Member
*****
Offline Offline

Activity: 630
Merit: 501


Presale Starting May 1st


View Profile
May 01, 2017, 03:43:26 PM
 #24

Mining is an integral part of Bitcoin. If you destroy mining, you destroy Bitcoin.
What if we are able to destroy corporate mining of bitcoins,can we shift back to the old GPU mining and be able to help with the transactions.I am certain that there will be a point in time in the future that mass mining farms will close down because of the running cost and the ROI factors taking into consideration.

     ▄▄██▄▄
 ▄▄██████████▄▄
████████████████
████████████████
█████▀▀  ▀▀█████
█▀▀          ▀▀█
     ▄▄██▄▄
 ▄▄██████████▄▄
████████████████
████████████████
████████████████
████████████████
████████████████
████████████████
████████████████
████████████████
████████████████
████████████████
 ▀▀██████████▀▀
     ▀▀██▀▀
INVESTA     ▄▄██▄▄
 ▄▄██████████▄▄
████████████████
████████████████
█████▀▀  ▀▀█████
█▀▀          ▀▀█
     ▄▄██▄▄
 ▄▄██████████▄▄
████████████████
████████████████
████████████████
████████████████
████████████████
████████████████
████████████████
████████████████
████████████████
████████████████
 ▀▀██████████▀▀
     ▀▀██▀▀
bouren
Sr. Member
****
Offline Offline

Activity: 336
Merit: 250



View Profile
May 01, 2017, 05:23:38 PM
 #25

How would this effect bitcoin? would it cause us to regress back to a time where we actually counted bitcoin in bitcoins not satoshis, or would bitcoin become insanely expensive?

I think it is completely absurd to discuss on topics like this. Let's leave this possibility be a possibility. Better concentrate on relatively important issue as bitcoin is still on developing mode and there is very much to improve.  Shocked

berserkinterbuy
Full Member
***
Offline Offline

Activity: 206
Merit: 100



View Profile
May 01, 2017, 05:56:46 PM
 #26

How would this effect bitcoin? would it cause us to regress back to a time where we actually counted bitcoin in bitcoins not satoshis, or would bitcoin become insanely expensive?

I think it is completely absurd to discuss on topics like this. Let's leave this possibility be a possibility. Better concentrate on relatively important issue as bitcoin is still on developing mode and there is very much to improve.  Shocked

I agree. The development of bitcoin can still work very hard to make it stronger and more popular.
odolvlobo
Legendary
*
Offline Offline

Activity: 2464
Merit: 1299



View Profile
May 01, 2017, 06:35:42 PM
 #27

Mining is an integral part of Bitcoin. If you destroy mining, you destroy Bitcoin.
What if we are able to destroy corporate mining of bitcoins,can we shift back to the old GPU mining and be able to help with the transactions.I am certain that there will be a point in time in the future that mass mining farms will close down because of the running cost and the ROI factors taking into consideration.

It is a naive fantasy. Even if we could change the POW algorithm to be GPU-only, we would still get this:



Buy bitcoins with cash from somebody near you: LocalBitcoins
Buy stuff on Amazon at a discount with bitcoins or convert Amazon points to bitcoins: Purse.io
Join an anti-signature campaign: DannyHamilton's ignore list
Pages: « 1 [2]  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!