Bitcoin and Mining

[Ebede]

No miners, no transaction processing.  I think your $20 will reverse after sometime. But I don't think it is possible for all the miners in the whole world to shutdown.  Lolx. You are wishful thinker. But please o, next time don't think if all the miners shutdown, because btc is the hope of many. Just think what if BTC rises to 150k dollars, that will be good.

[clorasteinberg]

I guess i choose non PoW

If with this we found that you consider Bitcoin bad in every way, how about you finally move to Altcoins boards and continue your education there - altcoins, stablecoins and even gold do not fall under the Bitcoin discussion.

I rather buy gold at least its in my Hands im not dependent of out side world so much.

If you are already going for gold, it might be a good idea to change your name to goldboss or altcoinboss - it would suit you better since you complain all the time that Bitcoin is not good. After so much time and open threads you seem to have wasted your time and the time of others.

It is really important to put relevant information on the forum that new traders can take lessons from. Posting irrelevant things won’t do any good. Let’s all pledge to maintain the purpose of the forum by helping each other with all that we know.

[clorasteinberg]

You got that right. Your money won’t get transferred to any wallet. It might get stuck and may take some time before coming back to your wallet.
But I don’t think that there will ever be a day when all the miners would be shut down and anything like this would happen.

[aysg76]

If I want to send 20$ on my wallet to other wallet.
Then If there is no miners the money is not moving? 
So for 20$ Transaction You need big mining Factory to operate to use a lot Energy.

But what If all miners will be shut down all over the World? 

Do I understood Correct? 

So if we are talking about the imaginary conditions that all miners are out of business then if you make btc transaction it would not be included in any block in the absence of miners and yes transaction will not be confirmed.But in real world situation this is not possible because at current the miners are earning good and even if the miners become less so is the target difficulty reduces with that as Sathoshi coded btc to be adaptable to this situation and mining becomes easy and hence more miners join the network again to earn rewards in the end making it to equilibrium position again.Miners after all the 21 million btc are mined will earn transaction fees and enjoy their btc holding at that time so this situation is never going to come into reality.

[sempak]

If I want to send 20$ on my wallet to other wallet.
Then If there is no miners the money is not moving? 
So for 20$ Transaction You need big mining Factory to operate to use a lot Energy.

But what If all miners will be shut down all over the World? 

Do I understood Correct? 

Yes since the miners are the one who will validate it in the blockchain so if there's no miners in the world your transaction will not be confirmed and therefore the recipient will not be able to receive its Bitcoin. I think in Block there's a lot of transaction in there not just your $20 so in that block there's a lot of other transactions as well that will be validated by the miners.