Bitcoin Forum
October 23, 2018, 06:23:49 AM *
News: Make sure you are not using versions of Bitcoin Core other than 0.17.0 [Torrent], 0.16.3, 0.15.2, or 0.14.3. More info.
 
   Home   Help Search Donate Login Register  
Pages: [1] 2 »  All
  Print  
Author Topic: Bitcoin miner stoped distribute bitcoin  (Read 139 times)
kominfo.id
Member
**
Offline Offline

Activity: 101
Merit: 10


View Profile
June 25, 2018, 03:48:27 AM
 #1

what if all miner bitcoin stops working does not generate or distributes bitcoin for one day if it could affect bitcoin price?

Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
r1s2g3
Member
**
Offline Offline

Activity: 322
Merit: 94


View Profile
June 25, 2018, 04:29:18 AM
 #2

what if all miner bitcoin stops working does not generate or distributes bitcoin for one day if it could affect bitcoin price?

If miner stop mining then there will be no value to bitcoin. Miner not only mining new bitcoins but also confirming the transactions too.
If there is no miner, than no transaction will happen.
In others words, that day Bitcoin will not have any value, because if I say ,somebody want to sell it cheap but transaction from his wallet to seller wallet will not happen and then why should pay for something that you will not receive.
Pursuer
Legendary
*
Offline Offline

Activity: 1288
Merit: 1087


Where is my ring of blades...


View Profile
June 25, 2018, 05:29:00 AM
 #3

what if all miner bitcoin stops working does not generate or distributes bitcoin for one day if it could affect bitcoin price?

there aren't a small number of miners like 5 miner to stop mining all of a sudden! there are thousands of miners who are mining bitcoin, possibly more. they won't just stop all at once and out of the blue for no reason.
these "what if"  questions need to have some reality to it so that they can be answered. otherwise you will be entering the realm of science fiction.

in reality what can happen is that price can go down so that mining profit can fall so miners start to go away. then difficulty will come down so it becomes profitable again. even if price falls to $1 and a lot of miners leave still difficulty will come down and mining will become easy. until you can mine bitcoin with your computer again. so at the end of the day if all the miners leave you can start your PC and mine bitcoin with it. so it won't die.
in short miners don't leave the price takes effect. price changes (up or down) then miners come in or go out.

hukes
Newbie
*
Offline Offline

Activity: 168
Merit: 0


View Profile WWW
June 26, 2018, 10:30:07 PM
 #4

This is not a good solution and it will not help at all. Miners stopping mining means there will be no transaction. No transaction will make bitcoin to have no values. Besides the number of miners are many and they all cannot be stopped together.
Jating
Hero Member
*****
Offline Offline

Activity: 910
Merit: 518



View Profile
June 26, 2018, 10:37:23 PM
 #5

what if all miner bitcoin stops working does not generate or distributes bitcoin for one day if it could affect bitcoin price?

You have to understand that there's a lot of miners not just in China, although they have the bulk of the mining farms there. But lets say all of them stops mining, then in just a couple of days bitcoin price will plummet because this will severely impact investors mindset that bitcoin is already dead.

However, realistically, I don't think that all miners will have a collaborative and coordinated effort to shut down everything. Its business at the end of the day. So it doesn't make sense at a business standpoint to just stop it just even for a day because you are also losing money here not just investors or traders.

███           ▄▄▄                          ███
███           ███    ▄█                    ███
███ ▄▄▄▄▄▄          ▄██▄▄▄▄      ▄▄▄▄▄     ███        ▄██▄    ▄▄▄         ▄▄▄
███████████▄  ███ ▐████████  ██▄███████▄   ███       ██████    ███       ███▀
███▀    ▀███▌ ███   ███      ███▀    ▀███  ███      ████████    ███     ███▀
███      ▐██▌ ███   ███      ███      ███  ███     ██▀    ▀██    ███   ███▀
███      ▐██▌ ███   ███      ███      ███  ███    ███      ███    ███ ███▀
███▄    ▄███▌ ███   ███▄     ███▄    ▄███  ███   ████▄    ▄████    █████▀
███████████▀  ███   ▀██████  ███████████▀  ███  ████████████████    ███▀
▀▀▀ ▀▀▀▀▀▀    ▀▀▀     ▀▀▀▀▀  ███ ▀▀▀▀▀▀    ▀▀▀   ▀▀▀▀▀▀▀▀▀▀▀▀▀▀    ███▀
                             ███       ▄▄▄ ▄   ▄  ▄ ▄▄▄          ▄███▀
                             ███      █    █   █  █ █▄▄▀      █████▀
                             ▀▀▀      ▀▄▄▄ █▄▄ ▀▄▄▀ █▄▄█      ▀▀▀















❱❱
❰❰

robocop3
Sr. Member
****
Offline Offline

Activity: 382
Merit: 250



View Profile WWW
June 26, 2018, 10:45:49 PM
 #6

If miner stop mining then he bc net will go down and btc will die! As all known miner not only mining new bitcoins but also confirming the transactions too.
If there is no miner, then people can not transfer btc then btc die.



             ▄██▄
          ▄████████▄
       ▄████▀▀  ▀▀████▄
    ▄████▀▀        ▀▀████▄
 ▄████▀▀     ▄██▄     ▀▀████▄
███▀▀     ▄████████▄     ▀▀███
███    ▄████▀▀  ▀▀████▄    ███
███   ███▀▀        ▀▀███   ███
███   ███            ███   ███
███   ███            ███   ███
███   ███     ▄▄     ███   ███
███   ███   ▄████▄   ███   ███
███   ███▄▄████████▄▄███   ███
███    ▀██████████████▀    ███
███▄▄     ▀████████▀     ▄▄███
 ▀████▄▄     ▀██▀     ▄▄████▀
    ▀████▄▄        ▄▄████▀
       ▀████▄▄  ▄▄████▀
          ▀████████▀
             ▀██▀
   
   

                   ▄▄████
              ▄▄████████▌
         ▄▄█████████▀███
    ▄▄██████████▀▀ ▄███▌
▄████████████▀▀  ▄█████
▀▀▀███████▀   ▄███████▌
      ██    ▄█████████
       █  ▄██████████▌
       █  ███████████
       █ ██▀ ▀██████▌
       ██▀     ▀████
                 ▀█▌
 

   ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
 ▄█████████████████████████▄
 ███████████████████████████
▐███████████████████████████▌
▐███████████  ▀█████████████▌
▐███████████     ▀██████████▌
▐███████████     ▄██████████▌
▐███████████  ▄█████████████▌
▐███████████████████████████▌
 ███████████████████████████
 ▀█████████████████████████▀
   ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
L0vebtc
Newbie
*
Offline Offline

Activity: 35
Merit: 0


View Profile
June 26, 2018, 10:50:55 PM
 #7

yes, it could immensely affect the price of Bitcoin.
Imagine if one day all banks cannot process payments, just for one day... chaos would reigns.
this would be a tremendous apocalypse! Miner can't stop working...

juliehunt07
Newbie
*
Offline Offline

Activity: 154
Merit: 0


View Profile
June 26, 2018, 11:15:12 PM
 #8

Well, if miner stop mining bitcoin the value of bitcoin will fall down. It will affect the transaction also. It will affect the price a lot.
raidarksword
Member
**
Offline Offline

Activity: 322
Merit: 11


View Profile WWW
June 26, 2018, 11:21:33 PM
 #9

It is a irrelevant question because bitcoin is dependents on miners. Miners process bitcoin transactions and get paid for it as a reward, If they stop mining then bitcoin is literally dead. If bitcoin is dead then holding bitcoin are useless because it will have no value anymore.

pitiflin
Hero Member
*****
Offline Offline

Activity: 980
Merit: 507



View Profile
June 26, 2018, 11:27:48 PM
 #10

what if all miner bitcoin stops working does not generate or distributes bitcoin for one day if it could affect bitcoin price?
That would be possible under a permissioned blockchain. But in a public blockchain, it is almost impossible. It can happen but mostly it won't. If miners stop mining for one day, the price would plummet to the ground. But thankfully bitcoin is decentralized, no one would have to witness such a situation. Just think about it, and you'll know why.


       █
      ██
     ██
   ██ ██
 █ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██

       █
      ██
     ██
   ██ ██
 █ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██
  B

          ▄▄▄▄▄▄
     ▄▄████████████▄▄
   ▄█████▀▀    ▀▀█████▄
  ████▀            ▀████
 ████                ████
▐███                  ███▌
███▌                  ▐███
▐███           ▄▄     ███▌
 ████         ▀███▄  ▐███
  ████▄         ▀███▄███
   ▀█████▄▄     ▄█████▀
     ▀▀████████████▀▀
          ▀▀▀▀▀▀
T 
.Better. Quick..

.Transparent....






             ▄████▄▄   ▄
█▄          ██████████▀▄
███        ███████████▀
▐████▄     ██████████▌
▄▄██████▄▄▄▄█████████▌
▀████████████████████
  ▀█████████████████
  ▄▄███████████████
   ▀█████████████▀
    ▄▄█████████▀
▀▀██████████▀
    ▀▀▀▀▀






▄█████████████████████████▄
███████████████████████████
███████████████▀       ████
██████████████      ▄▄▄████
██████████████    ▐████████
██████████████    ▐████████
██████████            ▐████
██████████            █████
██████████████    ▐████████
██████████████    ▐████████
██████████████    ▐████████
▀█████████████    ▐███████▀






                   ▄▄████
              ▄▄████████▌
         ▄▄█████████▀███
    ▄▄██████████▀▀ ▄███▌
▄████████████▀▀  ▄█████
▀▀▀███████▀   ▄███████▌
      ██    ▄█████████
       █  ▄██████████▌
       █  ███████████
       █ ██▀ ▀██████▌
       ██▀     ▀████
                 ▀█▌
Crypto.mgt
Newbie
*
Offline Offline

Activity: 168
Merit: 0


View Profile WWW
June 27, 2018, 05:21:04 AM
 #11

If miners stop mining for one day, a huge amount of supply will be disrupted and demand will generated high. And it will result in higher price of btc.
Shopping Coin Official
Newbie
*
Offline Offline

Activity: 14
Merit: 0


View Profile
June 27, 2018, 06:27:39 AM
 #12

No, If miner stop mining then there will be no value to bitcoin. Miner not only mining new bitcoins but also confirming the transactions too. Ifthere is no miner, than no transaction will happen. In others words, that day Bitcoin will not have any value, because if I say ,somebody want to sell it cheap but transaction from his wallet to seller wallet will not happen and then why should pay for something that you will not receive.
Crypto one
Jr. Member
*
Offline Offline

Activity: 180
Merit: 5


View Profile
June 27, 2018, 06:32:42 AM
 #13

If miners stop mining, then you cut start mining with your laptop pc, and earn bitcoins from block rewards and 
transaction.

★ PRiVCY ➢ Own Your Privacy! ➢ Best privacy crypto-market! ★
✈✈✈[PoW/PoS]✅[Tor]✅[Airdrop]✈✈✈ (https://privcy.io/)
lalunalaguna
Member
**
Offline Offline

Activity: 131
Merit: 43


View Profile
June 27, 2018, 06:34:02 AM
 #14

what if all miner bitcoin stops working does not generate or distributes bitcoin for one day if it could affect bitcoin price?
On the off chance that mineworker quit mining then he bc net will go down and btc will bite the dust! As all known mineworker mining new bitcoins as well as affirming the exchanges as well. On the off chance that there is no excavator, at that point individuals can not exchange btc then beyond words.
Johnny_ric0
Newbie
*
Offline Offline

Activity: 39
Merit: 0


View Profile
June 27, 2018, 06:45:42 AM
 #15

Miners are the most important due to verification of transactions - without miners there is noone to confirm that blocks in blockchain so that the technology will not work properly.
kier010
Full Member
***
Offline Offline

Activity: 434
Merit: 100


WPP ENERGY - BACKED ASSET GREEN ENERGY TOKEN


View Profile
June 27, 2018, 06:48:29 AM
 #16

if that will happen no one will mine bitcoin as well as processing the transaction. you can't send and you can't receive. but don't worry there are a lot of miners all around the world. someone will stop but someone will replace them. mining bitcoin is still profitable to them so they will not stop.

           ﹏﹏﹋﹌﹌ WPP ENERGY ﹌﹌﹋﹏﹏
☆═══━┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈━═══☆
≈ WORLD POWER PRODUCTION ≈


【 BACKED ASSET GREEN ENERGY TOKEN 】
☆═━┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈━═☆
kulsuma
Newbie
*
Offline Offline

Activity: 126
Merit: 0


View Profile WWW
June 28, 2018, 01:58:26 AM
 #17

I am not sure about this news. But why they take this type of decision i can’t understand. We all know about bitcoin and we also believe bitcoin has a great future.
antonks
Newbie
*
Offline Offline

Activity: 19
Merit: 0


View Profile
June 28, 2018, 02:21:00 AM
 #18

If Bitcoin suddenly crashed to be very cheap <1000usd then I would certainly stock up and buy a few, there is so much potential for bitcoin to grow even from it's current price.
THATBTC
Newbie
*
Offline Offline

Activity: 98
Merit: 0


View Profile
June 28, 2018, 02:40:28 AM
 #19

what if all miner bitcoin stops working does not generate or distributes bitcoin for one day if it could affect bitcoin price?

If miner stop mining then there will be no value to bitcoin. Miner not only mining new bitcoins but also confirming the transactions too.
If there is no miner, than no transaction will happen.
In others words, that day Bitcoin will not have any value, because if I say ,somebody want to sell it cheap but transaction from his wallet to seller wallet will not happen and then why should pay for something that you will not receive.

yep, but this is will not happen, well at least not soon.

maybe the opposite Grin
richpham
Newbie
*
Offline Offline

Activity: 82
Merit: 0


View Profile
June 28, 2018, 03:17:05 AM
 #20

Not necessarily, there was a time when the gold market fell below the price of mining, but it still has to continue.
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!