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Author Topic: What If Bitcoin Mining Stops?  (Read 201 times)
danherbias07
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Today at 09:33:23 AM
 #21

Yeah, then imagine how much money the 1 miner left will make if all are gone.  Wink

It's unlikely to happen because there are transactions that will be validated. It would've been more of a discussion if the question is if there's no Bitcoin left to mine, but I doubt I will still be alive to know that. 2140. So it's nonsense to imagine things that are not within the reach of my lifespan.

Do remember, there are even miners who are mining shitcoins, trying their luck to hit a jackpot, so miners will stay.

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sergiorus
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Today at 02:29:19 PM
 #22



Imagine that tomorrow morning all the miners stop mining. 
No new Bitcoin will be created, and no transactions will be confirmed. 
My question is: will Bitcoin still remain a store of value, or will it just become a dead database? 
And what if after some time 1 or 2 miners come back.. will people still trust Bitcoin, 
or will the credibility of the network be ruined forever?



What if all bus drivers don't go to work tomorrow? Everyone who has no car won't be able to go anywhere?

Theoretically yes, but why would ALL bus drivers suddenly do so if it's their job?

Miners have very expensive hardware and their bread is to use it to mine Bitcoin. why on earth would they stop and let this expensive hardware just be collecting dust?


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rat03gopoh
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Today at 03:15:20 PM
 #23

If I may make a wild assumption (like the OP), where there's a high and limited incentive, people will fight over it.
Make no mistake, everyone is currently interested in mining. It's simply because the current hashrate is too high and not worth the small financing that keeps them from doing so.

 
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vapourminer
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what is this "brake pedal" you speak of?


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Today at 07:21:46 PM
 #24

well. since i will always mine, even if i were the last miner on earth, the question is moot.
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