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Bitcoin Forum > Economy > Economics > Speculation > Falling BitCoin to USD value and the possibility of miners quitting
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macharborguy (OP)
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September 17, 2011, 03:41:59 AM
 #1
Its natural to assume that if the trade value of BitCoins falls low enough, the chances of miners dropping out would also increase.  What would this do for the overall difficulty?  How long would it be until the difficulty begins to drop if this were to happen.
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RandyFolds
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September 17, 2011, 03:53:53 AM
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https://en.bitcoin.it/wiki/Main_Page

Welcome to Bitcoin!
nmat
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September 17, 2011, 03:56:19 AM
Last edit: September 17, 2011, 04:33:44 AM by nmat
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Quote from: macharborguy on September 17, 2011, 03:41:59 AM
Its natural to assume that if the trade value of BitCoins falls low enough, the chances of miners dropping out would also increase.  What would this do for the overall difficulty?  How long would it be until the difficulty begins to drop if this were to happen.

Every 2016 blocks (~2 weeks) the difficulty is adjusted.
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September 17, 2011, 04:00:11 AM
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Quote from: RandyFolds on September 17, 2011, 03:53:53 AM
https://en.bitcoin.it/wiki/Main_Page

Welcome to Bitcoin!

(No offense to OP)

This made me chuckle.
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