What will happen if all miners stop mining?

[kakonhat]

We know a few days ago there are completed halving of Bitcoin Cash and Bitcoin SV. After halving of Bitcoin Cash there was no block created almost two hours. On the other hand, Bitcoin SV lost value after the halving.
I am very curious. What will happen for Bitcoin if all the miners stop their mining?
Will it have value?
will it possible to transfer?

[1714977283]

1714977283

[1714977283]

1714977283

[1714977283]

1714977283

[1714977283]

1714977283

[UserU]

We know a few days ago there are completed halving of Bitcoin Cash and Bitcoin SV. After halving of Bitcoin Cash there was no block created almost two hours. On the other hand, Bitcoin SV lost value after the halving.
I am very curious. What will happen for Bitcoin if all the miners stop their mining?
Will it have value?
will it possible to transfer?

Nobody knows what's gonna happen, but I assume the price might skyrocket because the supply way is less(er) than it's stipulated 21 million (excluding those missing in oblivion). But then again, if they cannot be transferred, the price might go the other way because they have become practically "useless".

[Darker45]

Miners are there to basically process transactions. If there are no miners, transactions won't be be processed and confirmed. I'm afraid there will be no more transactions on the network without the necessary processing capacity of miners.

Value? It depends. If people will still attach value to Bitcoin even if it is not anymore functioning as a currency, or perhaps while waiting for the resumption of mining, then there will still be value.

Transfer on-chain is not possible, of course. But there are off-chain transfers, which I guess will also become more or less useless if the network is not at all functioning and secured.

[TryNinja]

Miners are there to basically process transactions. If there are no miners, transactions won't be be processed and confirmed. I'm afraid there will be no more transactions on the network without the necessary processing capacity of miners.

This can't happen. If miners leave, the difficulty decreases and becomes easier to mine. People will then start to mine to profit as they get more "space" to do so. And even if BTC ever goes to zero, I'm pretty sure there will be people mining just for the lulz (difficulty will be down anyways, since there is no profit-seek miners, so it won't be expensive).

[Apocollapse]

I am very curious. What will happen for Bitcoin if all the miners stop their mining?

I hope you got the answer in these link

• How will Bitcoin survive after all 21M coins have been mined?
• What will happen if all 21 Million BTC are mined?
• What happens when all bitcoins are mined?
• WHAT HAPPENS WHEN THE LAST BITCOIN IS MINED?
• What will happen after all bitcoins will be generated?
• when all bitcoins are mined, then what
• what will happen if miners stop mining bitcoin?
• what happens when all the bitcoins have been mined?
• Bitcoin after 5 Halving - 10 years from now - What will be its price?

[Btcbeginners]

After the halving, Bitcoin scarcity will increase, hence most likely too long the market. In the case, a few days or months, some parts of the world, miners will not break even due to Bitcoin block reward drop, which will be fixed Bitcoin when difficulty adjustment. Until this, there may little price drop.

[pooya87]

first and foremost you can never compare altcoins' behavior with bitcoin. they are always entirely different even if that altcoin uses a similar name. for example BCH and BCHSV are both centralized altcoins the 2 hour delay might have been a plan by the owners who also control almost all the hashrate to decrease the difficulty by kicking any other miner out then making profit by mining all blocks themselves.

secondly it all comes down to incentives. bitcoin price during last halving was about $600 that made the reward go down from $15k per block down to $7500 and miners were still mining bitcoin. now that same $7500 reward per block is worth $91000 and even when it halves it is still worth $45000 which as you can see is 6 times more than when it started!
in comparison with altcoins, like bcash it used to be 0.2 bitcoin and now it is 0.03 as you can see they are always on a downtrend which is why whenever their block reward halves a lot of miners leave since they know the price is going to continue to decline.

[Darker45]

Miners are there to basically process transactions. If there are no miners, transactions won't be be processed and confirmed. I'm afraid there will be no more transactions on the network without the necessary processing capacity of miners.

This can't happen. If miners leave, the difficulty decreases and becomes easier to mine. People will then start to mine to profit as they get more "space" to do so. And even if BTC ever goes to zero, I'm pretty sure there will be people mining just for the lulz (difficulty will be down anyways, since there is no profit-seek miners, so it won't be expensive).

Of course, this will not happen. I was just responding to a hypothetical question. However, if worst comes to worst and the mining industry will somehow crash, there will be a huge party of individual miners that will ensue. There might be a resurrection of old celeron-powered PCs if the difficulty would reach a very low level. LOL. The past years have virtually erased individual independent miners. Mining farms and multi-million-dollar mining industries are now dominating the market.  

[bitmover]

As many already mentioned,  if miners stop bitcoin will survive.
It is not that easy to kill bitcoin. It will survive

[Pffrt]

Technically it's possible that there might be no miners at all but in theory, it's not possible like as TryNinja pointed. If there are no miners to process the tx, with the less network difficulty, it will be easy to mine and some people will jump into it.

[NeuroticFish]

If miners leave, the difficulty decreases and becomes easier to mine.

Actually if all the miners just go in the same time, the difficulty won't adjust, right?
The difficulty adjustment happens every 2016 blocks. If no miners, the difficulty remains high since no blocks get mined.
Of course, such situation, such synchronization is highly unlikely.

[figmentofmyass]

Miners are there to basically process transactions. If there are no miners, transactions won't be be processed and confirmed. I'm afraid there will be no more transactions on the network without the necessary processing capacity of miners.

This can't happen. If miners leave, the difficulty decreases and becomes easier to mine.

of course it can theoretically happen. if all miners stopped mining, difficulty would not adjust. it doesn't just magically adjust when hash rate drops. the blockchain needs to reach the 2016 block difficulty adjustment threshold.

there are lots of dead blockchains out there where transactions can no longer be processed. let's hope bitcoin never joins them, but the possibility certainly exists.

[KrisAlex18]

If there would not be miners anymore then the bitcoin will be dead because miners are responsible to process the transaction, the bitcoin and other cryptocurrency is a continuous process, it happens because of transferring block from blockchain, transferring of money was also done by the miners so if there is no miners at all bitcoin will be dead, but I think it wont happen because there are so many miners all over the world, they will not let this happen, bitcoin is really a big help for everyone especially with this current situation, where crisis is in our area. We use bitcoin to continue to transactions, just like purchasing goods and buying some bills.

[Akiko]

We know a few days ago there are completed halving of Bitcoin Cash and Bitcoin SV. After halving of Bitcoin Cash there was no block created almost two hours. On the other hand, Bitcoin SV lost value after the halving.
I am very curious. What will happen for Bitcoin if all the miners stop their mining?
Will it have value?
will it possible to transfer?

Qoura already have answer for that questions if miners will stop mining  read completw the article to have an idea.
https://www.quora.com/What-if-everyone-stop-mining-Bitcoin .

For me the bitcoin will not have any more value since no one will mine it to confirm the transaction.  

[TryNinja]

of course it can theoretically happen. if all miners stopped mining, difficulty would not adjust. it doesn't just magically adjust when hash rate drops. the blockchain needs to reach the 2016 block difficulty adjustment threshold.

there are lots of dead blockchains out there where transactions can no longer be processed. let's hope bitcoin never joins them, but the possibility certainly exists.

So if everyone stops right now and the hash power of the network is equal to one guy mining with a CPU, it won't adjust after some time? I wasn't aware of this.

It makes sense if the difficulty only changes after X blocks mined (and with a single CPU, it will take a looong time for that to happen). I was thinking this was more time based rather than block based, but thinking now, that makes more sense.

[Wenbing]

We know a few days ago there are completed halving of Bitcoin Cash and Bitcoin SV. After halving of Bitcoin Cash there was no block created almost two hours. On the other hand, Bitcoin SV lost value after the halving.
I am very curious. What will happen for Bitcoin if all the miners stop their mining?
Will it have value?
will it possible to transfer?

I love your curiosity. Youur question is in the supply side of bitcoin. These are what will happen if bitcoin mining stops today.

1. The supply of bitcoin will be lower than the demand for Bitcoin.
2. The price of bitcoin will dramatically skyrocket due to the scarcity of bitcoin.
3. Being that there is value in scarcity, that means investors will seek to invest into bitcoin.
4. The whitepaper already pegged the supply of bitcoin to be 21million in circulation, even at that the value of bitcoin will still be high.

[mk4]

I love your curiosity. Youur question is in the supply side of bitcoin. These are what will happen if bitcoin mining stops today.

1. The supply of bitcoin will be lower than the demand for Bitcoin.
2. The price of bitcoin will dramatically skyrocket due to the scarcity of bitcoin.
3. Being that there is value in scarcity, that means investors will seek to invest into bitcoin.
4. The whitepaper already pegged the supply of bitcoin to be 21million in circulation, even at that the value of bitcoin will still be high.

Not that good of an assumption. If bitcoin mining completely stops, sure there wouldn't be any bitcoin to enter the markets hence more scarcity. But you're completely assuming that people would want to buy something that no one is mining. Who cares about scarcity if you can't even send out the asset? How will they be able to receive or send the bitcoin in the first place if no one is mining? Take note that we're talking about ALL miners stopping; based on OP's title.

[stompix]

So if everyone stops right now and the hash power of the network is equal to one guy mining with a CPU, it won't adjust after some time? I wasn't aware of this.
It makes sense if the difficulty only changes after X blocks mined (and with a single CPU, it will take a looong time for that to happen). I was thinking this was more time based rather than block based, but thinking now, that makes more sense.

Yeah, it doesn't adjust over time, it adjusts every 2016 blocks.
So, if this doomsday scenario where not all miners, let's just say 90% of them quit the difficulty will now adjust in the standard 14 days but in 140 days with a block every 100 minutes.

A lot of shitcoins have been attacked like that in the early days, with GPU frames switching to mine them, raising the difficulty 10 times and when that adjusted leaving them to die with no blocks being mined. That's when Kimoto Gravity Well, Digishield appeared.

Will the protocol survive? Yeah! Will the confidence and trust behind the coin....I have doubts, depending on the scale.

Fortunately, the scenario is close to impossible right now, and it's because of the good old $.
Not only is there still a financial incentive to mine, but also if some farms try to drop out of the business there is a lot of formerly inefficient gear that was retired (millions of s9) that will come back online since it is again profitable for them to mine.

As many already mentioned,  if miners stop bitcoin will survive.
It is not that easy to kill bitcoin. It will survive

Actually it will be not dead and also not alive, more like a virus.
If all miners quit there will be no more blocks, no more confirmed transactions, so no activity on the chain but at the same time, even if 100 years pass and suddenly a single miner decides to mine it will come back..alive.

[TryNinja]

~

Not gonna lie, this is actually pretty scary. I've never stopped to think about this possibility since I always had the idea that difficulty decreases anyways even if the hash power is at zero, but that makes sense since BTC only sees blocks and not time itself. Have you seen anything/any discussion about countering this issue anywhere?

[crwth]

So, in summary, it's not possible to have no miners. If that happens, as long as one node is alive computing, Bitcoin will stay alive. Anyways, It's not possible because a lot of people are already invested in Bitcoin, especially the miners, and their mining gears are expensive, and it's best not to be put to waste.