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Chris314
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January 13, 2018, 07:40:56 PM
 #61
No mining means no transaction, so there couldn't be any exchange and bitcoin market would be down. Same effect as a global Internet failure. Both are hardly probable.
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fogsan
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January 14, 2018, 01:32:35 AM
 #62
Quote from: Hobo66 on December 12, 2017, 03:36:30 PM
I heard that bitcoin is controlled by we users and miners,
so I wonder what would happen if all the bitcoin miners stop mining bitcoin?.

I'm curious to know what would happen to bitcoin. Undecided
Transactions become impossible if all the minor stops.
But when someone ceases mining, the opportunity to dig marginally moves to others. Minor does not stop staying.
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January 17, 2018, 01:28:58 PM
 #63
Quote from: lighpulsar07 on December 13, 2017, 12:16:51 PM
Quote from: colonel_koval on December 13, 2017, 11:56:07 AM
Quote from: Hobo66 on December 12, 2017, 03:36:30 PM
I heard that bitcoin is controlled by we users and miners,
so I wonder what would happen if all the bitcoin miners stop mining bitcoin?.

I'm curious to know what would happen to bitcoin. Undecided

haha they would lose the tons of profit they are making (while the hardware operates only) not mentioning all the money they dumped to buy the hardware. And we are taking here about facilities worth millions of dollars. So while we can toy with discussing such topics, it is like discussing the total impossibility.
Indeed the miner has more to lose than us holders vecause miners are handling all of the expenses the electricity, maintenance of equipments, rent if you have a mining rig and lastly the salaries of workers. Although the miners have a choice to mine on bitcoins or switch on to the other cryptocurrencies but due mining reward the miners wouldn't let the opportunity slip intp their hands especially the block reward.

you know the moment some miners stop mining a given currency the difficulty goes down and at the same time the profits (expressed in that currency) go up for the same effort. So they really can't stop mining bitcoin and start mining something else, because a few moments later they will be losing a lot of profit
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January 17, 2018, 01:55:48 PM
 #64
Quote from: Hobo66 on December 12, 2017, 03:36:30 PM
I heard that bitcoin is controlled by we users and miners,
so I wonder what would happen if all the bitcoin miners stop mining bitcoin?.

I'm curious to know what would happen to bitcoin. Undecided
i think that the blockchain will process slowly and slower than now because miner is used to cover the blockchain or processing it
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January 17, 2018, 02:09:03 PM
 #65
If miners stop, the BTC market will collapse as there won't be any more BTC to buy. However, so you really think miners will stop?
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