Do Miners still continue?

[Btcdeybodi]

It is believed that Bitcoin halving is an event that happens every four years in the crypto industry where the block rewards that miners benefits from mining Bitcoin are cut half and Bitcoin eventually becomes scarce with the demand increasing and inflation is being addressed because it's part of the concept of the halving event. Since Miners rewards is being cut half during the halving, do they still continue in the number they were before the halving?

Edit:
Does all miners receive equal rewards? or the reward differs base on who solves the algorithms first and a transaction is confirmed.

[MusaMohamed]

Since Miners rewards is being cut half during the halving, do they still continue in the number they were before the halving?

Cutting half is Bitcoin subsidy, in Coinbase transaction for each new found block after block 840,000.

Bitcoin miners get bitcoins from two reward sources: Bitcoin block subsidy and Bitcoin transaction fee from Bitcoin users. From block 840,001 to block 1,050,000, Bitcoin miners will always share 3.125 bitcoins for each new block and this number is not changed.

What will change and can not predict is Bitcoin transaction fees in future blocks. It can be more or less than 210,000 blocks in a previous epoch when block subsidy was 6.25 bitcoins.

The chart for Bitcoin transaction fee last 1 year shows Bitcoin miner income is upwards last one year.
https://bitinfocharts.com/comparison/bitcoin-transactionfees.html#1y

[Upgrade00]

It is believed that Bitcoin halving is an event that happens every four years

It does happen every four years or better still, every 210,000 blocks.

Since Miners rewards is being cut half during the halving, do they still continue in the number they were before the halving?

It's expected that some will drop off after the halving, but it balances out after sometime as new miners come in. Bitcoin hasrate dropped slightly after the halving.

[arjunmujay]

Since Miners rewards is being cut half during the halving, do they still continue in the number they were before the halving?

The rewards that miners have received will remain unchanged or even halved even if the halving occurs. However, after the halving occurs on the next block, it will be reduced to half.

for example like this,
1. you are a bitcoin miner. If you already have 1 BTC in your wallet from mining, it will remain 1 BTC even if the halving occurs.

2. What changed after the halving occurred was that the rewards were cut in half. yesterday before the halving miners could get 6.25 BTC, in this period it is 3,125 BTC.

[paid2]

Since Miners rewards is being cut half during the halving, do they still continue in the number they were before the halving?

Fees are crazy high right now ; just after halving we had some blocks with multiple BTC from fees. So for now most miners aren't at a loss - if they weren't before halving of course.

Of course when Ordinals shit will slow down, we can expect many small/medium range ASIC farms to switch off, but the said ASICs will be sold and used somewhere else in better conditions to be profitable again.
If you want to monitor the global movements of the total network hashrate estimation, you can check it on mempool easily: https://mempool.ninja/graphs/mining/hashrate-difficulty

You can also check the following topic : https://bitcointalk.org/index.php?topic=5480022.msg63968390#msg63968390

[Yamane_Keto]

Halving is a recurring event with predictable results, so all mining farms make their plans and have a vision of what will happen. Therefore, halving does not affect miners as much as prices affect them, as very low Bitcoin prices are harmful to miners and the unexpected legal legislation, as 30% tax that is being discussed.

[Helena Yu]

@OP if the miners didn't continue, it means every transactions won't be completed and Bitcoin price will stuck without any change because there's no transaction will be confirmed. To know if the miner still exist or not check mempool.space, click the latest unconfirmed block, if the transaction didn't move, it means all the miners are stop.

[Proty]

After halving there will be a decrease in the profit that miners do get from mining bitcoin and as a result of this some of de miners will stop mining

[Dunamisx]

Since Miners rewards is being cut half during the halving, do they still continue in the number they were before the halving?

They will only get the half reward of what they have received previously, as MusaMohammed has already explained further, they earn two categories of reward, that from the halving and the one from the transaction fees, that of the transaction fees remains as it has been even though its not fixed as well because that has to depend on how congested the mempool is and the number of unconfirmed transactions, if the mempool is less congested, they charges for transaction fee becomes lower, while that of the halving is only half of the reward from the previous one received.

[sokani]

Since Miners rewards is being cut half during the halving, do they still continue in the number they were before the halving?

Bitcoin halving is the splitting of the the block rewards from 6.25 BTC to 3.124 BTC and not a total showdown of mining activities. Mining is an integral part of Bitcoin network and as long as miners are getting incentives for the work done, they'll still be in business. Though, it may not be profitable for some after the halving and they may choose to pack up or sell off their mining gears. 

BTW, miners are racking high transaction fees right now from ordinals and runes protocol spammers that are ready to pay to have their transactions go through.

[Faisal2202]

It is believed that Bitcoin halving is an event that happens every four years in the crypto industry where the block rewards that miners benefits from mining Bitcoin are cut half and Bitcoin eventually becomes scarce with the demand increasing and inflation is being addressed because it's part of the concept of the halving event. Since Miners rewards is being cut half during the halving, do they still continue in the number they were before the halving?

I also had the same thought that miners might leave mining due to the high competition and less reward and less chance of getting the block reward but after seeing the post of Oshosondy I realized that miners are making more money than before, as you can see in his post that the block reward is 3.125 while the total BTC reward to the miners in the mentioned block is 40.75 BTC, which is just awesome and shocking too. I mean if miners are making more money due to the fee then why would they leave the mining work instead they will do it more and the miners will increase in numbers.

But yeah who knows the true nature of reward as its halving period and due to NFTs issue of runes protocols, the fee is more than $100 and people are willingly paying it which also giving me the vibe that these people fear more increment in the fee of single BTC tx. I guess they think they are still saving some bucks, well whatever the reason is, I suggest everyone to not pay such huge amount to make one transaction.

[Kelvinid]

It is believed that Bitcoin halving is an event that happens every four years in the crypto industry where the block rewards that miners benefits from mining Bitcoin are cut half and Bitcoin eventually becomes scarce with the demand increasing and inflation is being addressed because it's part of the concept of the halving event. Since Miners rewards is being cut half during the halving, do they still continue in the number they were before the halving?

For new miners, that would obviously make them think of possible exit but those who have experience in the previous halving will certainly find it easy to manage, they already know the alternative. But look, fees are crazy during halving and until these days, miners getting more rewards than usual, this is not the thing we expected after the said event. There is no report yet that there is mining companies have stopped their operation so therefore, despite the halving they already prepared themselves to keep their business running until it is over. I believe they can still compensate themselves enough to remain in the operation and to give services to the people.

[Ojima-ojo]

It is believed that Bitcoin halving is an event that happens every four years in the crypto industry where the block rewards that miners benefits from mining Bitcoin are cut half and Bitcoin eventually becomes scarce with the demand increasing and inflation is being addressed because it's part of the concept of the halving event. Since Miners rewards is being cut half during the halving, do they still continue in the number they were before the halving?

Regardless of what the bitcoin minners rewards becomes after halving, the activity will go on because miners already taken the business as long term goals, and that is why the invested alot of capital into mining bitcoin and regardless of what tax or rewards reduction they will always fine they way around it and keeping the operation on going.


They revenue generation may decrease, but that is not enough for them to aboundon they business, persistent have it own unique rewards outside what the system may reward them with.

[boyptc]

Since Miners rewards is being cut half during the halving, do they still continue in the number they were before the halving?

As of now, they won't stop as they're on a situation that is in favor of them. And if they are going to stop, some big and stable mining pools are going to take advantage of the situation.

Regardless of the situation, there will always be new miners and the older ones will have to upgrade their equipment to cope up with the demand.

It's not an issue whether we go another halving again as the value in dollars will increase for Bitcoin.

[PX-Z]

...Since Miners rewards is being cut half during the halving, do they still continue in the number they were before the halving?

As for the record theirs no mining pool who stop operating since the last halving as for the individual miners and pool participants, there's no record about that so we can't tell.

If you're concerned on the profit they will get, in this last block mined ^[1], it's total profit is 6.112BTC (block reward + accumulated tx fees). So miners getting scared of having not enough profit (share) is not that crucial as it only lesser their profit in small amount.

[1] https://mempool.space/block/00000000000000000000390ac1a08d9ff72b92cea8209003510ec40a8deb238a

[Rustam Meraj]

I think Bitcoin miners are really dedicated and have clear plan for future. Even if things like rewards or taxes change they stay committed to mining Bitcoin. They have put lot of money into it because they believe in future of Bitcoin mining. Sometimes they might earn less money but they keep going because they love being part of this new industry. They are good at adapting to changes and finding new ways to keep going. This helps them keep their business running and shows how much they care about mining. Sometimes they go in loss but I believe that if they will keep mining and believe on Bitcoin so definitely they will be in profit at certain time.

[Btcdeybodi]

Since Miners rewards is being cut half during the halving, do they still continue in the number they were before the halving?

Fees are crazy high right now ; just after halving we had some blocks with multiple BTC from fees. So for now most miners aren't at a loss - if they weren't before halving of course.

Of course when Ordinals shit will slow down, we can expect many small/medium range ASIC farms to switch off, but the said ASICs will be sold and used somewhere else in better conditions to be profitable again.
If you want to monitor the global movements of the total network hashrate estimation, you can check it on mempool easily: https://mempool.ninja/graphs/mining/hashrate-difficulty

You can also check the following topic : https://bitcointalk.org/index.php?topic=5480022.msg63968390#msg63968390

Thanks for your explanations and the links are helpful.

Halving is a recurring event with predictable results, so all mining farms make their plans and have a vision of what will happen. Therefore, halving does not affect miners as much as prices affect them, as very low Bitcoin prices are harmful to miners and the unexpected legal legislation, as 30% tax that is being discussed.

I thought the price will not affect miners since they are getting fixed rewards from the halving, or is it that if the price of Bitcoin reduces the transactions fees reduces as well?

@OP if the miners didn't continue, it means every transactions won't be completed and Bitcoin price will stuck without any change because there's no transaction will be confirmed. To know if the miner still exist or not check mempool.space, click the latest unconfirmed block, if the transaction didn't move, it means all the miners are stop.

I assume that it is impossible for all miners to stop mining at the same time without a cause except if there by any complications in the mempool which is rare.

...Since Miners rewards is being cut half during the halving, do they still continue in the number they were before the halving?

As for the record theirs no mining pool who stop operating since the last halving as for the individual miners and pool participants, there's no record about that so we can't tell.

Does it means that all miners must belong to a mining pool?

[pooya87]

It is believed that Bitcoin halving is an event that happens every four years in the crypto industry

Not in "crypto industry", halving is a Bitcoin related event and some altcoins that copied Bitcoin also follow the same thing but may have different intervals.
It is also not "believed" to happen every 4 years, it is part of the consensus rules and must happen every 210000 blocks that happen to take about 4 years.

Since Miners rewards is being cut half during the halving, do they still continue in the number they were before the halving?

This is the 4th halving we've had and so far the hashrate has only grown, meaning the number of miners has grown. The reward has gone down from: 50 > 25 > 12.5 > 6.25 > 3.125
Some miners may shut down and go away if the operation is not profitable enough for them. But the total hashrate is important to us not these small changes.

Does all miners receive equal rewards? or the reward differs base on who solves the algorithms first and a transaction is confirmed.

When a block is found, there is a reward that can not be bigger than the predefined amount. The miner that found that block will receive all of it. However, since nowadays mining is like a cooperation through "pools" there are multiple miners that find a block so they split that reward amongst themselves based on their amount of contribution.

I thought the price will not affect miners since they are getting fixed rewards from the halving, or is it that if the price of Bitcoin reduces the transactions fees reduces as well?

The reward is in Bitcoin while their cost of mining (electric bill, employees' salaries, taxes, etc.) is in fiat so how much 1 bitcoin is worth affects them.

I assume that it is impossible for all miners to stop mining at the same time without a cause except if there by any complications in the mempool which is rare.

Mempool is not a singular place to have a "complication" and have a global effect; each node has its own mempool and not to mention to find a block you don't necessarily need mempool, the block can be empty.

Does it means that all miners must belong to a mining pool?

They don't have to, they can "solo mine" but they'll have to run their own full node and monitor a lot of things. So it is easier to join a pool specially if their hashrate is too low to find a block often enough.

[OjAbram]

Edit:
Does all miners receive equal rewards? or the reward differs base on who solves the algorithms first and a transaction is confirmed.

All miners cannot receive equal rewards based on the hash rate a miner or mining pool contribute to the overall network's hash rate. For example telling some group of kids to find a single apple and asking the one who found it to share with all. It doesn't work that way if a solo miner solves the block the rewards belongs to him alone as to a mining pool where it's shared within themselves.

 But after  halving the reduced block rewards is shared based on the effort a minner or mining pool contribute

[PX-Z]

Does it means that all miners must belong to a mining pool?

Not necessary, they can solo mine. But they need lots of consideration to do so, and it's not profitable not unless they have hundreds or thousands of miners asic rigs operating for them. Based on latest block records its rare that solo miners mine a block, most are those pools who have thousands of miners on them and open for registration such as Foundry, Binance, Viabtc, etc.