What If Bitcoin Mining Stops?

[danherbias07]

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

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.

[sergiorus]

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?

[RGBTC]

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.

[vapourminer]

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

[bangjoe]

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?

In the view of market watchers and speculators that this will be a blow to the entire ecosystem or the crypto industry itself, confidence will fade because transactions will crash if all miners agree to shut down the machine entirely and that does not make the network destroyed at least become slow, but what you need to know is that bitcoin miners are not only one and not a group they are separate and independent so there should be no full recognition for the simultaneous stop which is the Big Bitcoin boom because decentralization is still alive and getting better.

[Asiska02]

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?

This is impossible and don’t even think about a possibility of it happening. It is only an event that has a probable chance of happening that such questions should be raised upon but for bitcoin, it is not something that is possible. The miners are making money from bitcoin as they earn reward for mining a block and for also confirming transactions into the blockchain.

If mining should stop existing, bitcoin would have stopped before that. Even after all the blocks have been mined, miners will continuously make money from mining for processing transactions into the blockchain. So mining does not look like what will ever stop now as long as bitcoin continues to exist. As long as it is not something expected to happen even what if, no one would have a perfect answer to your question asked about the state of bitcoin if mining ends.

[Bitcoin_people]

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?

If this happens, the market value of Bitcoin will be in a very bad position in this situation and the market will collapse a lot and people's confidence will be gone. If this happens, people will not be able to transact their Bitcoin in any way, which will result in it being ineffective, which is natural. However, if the network starts creating blocks again, transactions will be confirmed gradually and people's confidence will decrease a lot even after the network is restored. However, we know that this will never happen, rather it was created for people's financial freedom, in which case it will continue for generations. Moreover, Bitcoin's blockchain is not a dead database, but without mining, its effectiveness will decrease completely and people will lose trust, which will cause serious damage, but we know that this will never happen, it is completely unrealistic.

[cocadalcan]

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?

If miners stop mining Bitcoin, the price will start to more rise from that day. Now you may be asking why the price will increase, the answer is - the price of the product increases in the market when the supply of the product is low. The total supply of Bitcoin is 21 million, a large part of which has been mined, and if individual or institutional miners stop mining at this time and investors are committed to long-term holding, the price will gradually increase and will be much higher than you think.

[The Founding Titan]

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?

Expecting miners to just stop mining is unrealistic, so let's consider the future when there will be no more bitcoin to mine, you will find that bitcoin will still be a thing even then, there was a thread I saw once that explained how it will be made possible, I'm not big an bitcoin's technical aspect so I can't really explain it but the transactions will still somehow work out but I guess we will never see it for ourselves, bitcoin mining won't be ending anytime soon.

[Itz-prisigold]

In my opinion, the value of Bitcoin is not related to the miners themselves,  but rather the value of Bitcoin coms from the rules of the network and the confidence that these rules will continue to be followed.

If all the miners stopped their operations, the network would essentially come to a standstill since no new blocks would be created.  The transactions would be valid but not confirmed and no new BTC would be created. While this would certainly have a short term impact on confidence,  it would not automatically erase the value of Bitcoin because all Bitcoin assets would remain and blockchain history would still be in existence.

[cyberninja2]

Snip.

Expecting miners to just stop mining is unrealistic, so let's consider the future when there will be no more bitcoin to mine, you will find that bitcoin will still be a thing even then, there was a thread I saw once that explained how it will be made possible, I'm not big an bitcoin's technical aspect so I can't really explain it but the transactions will still somehow work out but I guess we will never see it for ourselves, bitcoin mining won't be ending anytime soon.

I think the same thing you said, because Bitcoin will always exist, even though at times there are many problems with miners, sometimes making it impossible for them to mine.

While we're discussing this topic, it doesn't mean we're the only ones who understand the correct figures in interpreting this aspect. It's more about general understanding of what happens when these things happen. What we need to do is, as long as it's still possible to act on Bitcoin, find a realistic way to do it. Bitcoin won't disappear or expire anytime soon, as we imagine. Predictions don't always pan out, and even if they do happen, we don't know the exact timing.

[JeffBrad12]

If miners stopped altogether, the blockchain stopped operating. But honestly, idk why people are always thinking about the doom scenario like this as if it will happen.
As long as bitcoin have monetary value and mining is profitable there will always be a miner, if miners stopped mining yet bitcoin still have monetary value I'll be the next miner.

It's like hoping the internet to be suddenly shut down one day yet internet itself is decentralized, made of peers.

[ImGenius]

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?

I don't think there will ever be a tomorrow morning like this. Why would people stop mining when there are so many rewards especially when the number of miners is very low the remaining miners will get more rewards.
If there is a time when the electricity of the whole world goes off then maybe all the miners will stop mining but if everyone's electricity goes off then the banking system will collapse all kinds of electrical machines in the world will stop working. The world will go back to the old days there will be no network no internet then only real cash and gold will have value.

[cyberninja2]

...

I don't think there will ever be a tomorrow morning like this. Why would people stop mining when there are so many rewards especially when the number of miners is very low the remaining miners will get more rewards.
If there is a time when the electricity of the whole world goes off then maybe all the miners will stop mining but if everyone's electricity goes off then the banking system will collapse all kinds of electrical machines in the world will stop working. The world will go back to the old days there will be no network no internet then only real cash and gold will have value.

It is beyond our expectations to think if the lights are all out because that is why many mining parties stop doing it because there are several options that sometimes they cannot continue with the reason that the capacity for them to continue is not adequate so they have no choice but to be forced to stop first, this is also necessary for them to do a stop because the machines they need can no longer be continued, especially those who use the banking system if the power goes out of course they also cannot continue what they want to do and the impact is also felt by all parties if the power outage occurs so that many things experience losses, one of which is the guidance system which is an obligation that is not appropriate to be postponed and also the internet network which currently seems to be a must and if not I think all activities under the auspices of electricity will not be able to continue what they have to continue with many activities that have been postponed because of the power outage.

[Bounty Hunter Trax45]

...

I don't think there will ever be a tomorrow morning like this. Why would people stop mining when there are so many rewards especially when the number of miners is very low the remaining miners will get more rewards.
If there is a time when the electricity of the whole world goes off then maybe all the miners will stop mining but if everyone's electricity goes off then the banking system will collapse all kinds of electrical machines in the world will stop working. The world will go back to the old days there will be no network no internet then only real cash and gold will have value.

It is beyond our expectations to think if the lights are all out because that is why many mining parties stop doing it because there are several options that sometimes they cannot continue with the reason that the capacity for them to continue is not adequate so they have no choice but to be forced to stop first, this is also necessary for them to do a stop because the machines they need can no longer be continued, especially those who use the banking system if the power goes out of course they also cannot continue what they want to do and the impact is also felt by all parties if the power outage occurs so that many things experience losses, one of which is the guidance system which is an obligation that is not appropriate to be postponed and also the internet network which currently seems to be a must and if not I think all activities under the auspices of electricity will not be able to continue what they have to continue with many activities that have been postponed because of the power outage.

Your argument was quite valid. Stable electricity is one of the most important prerequisites for Bitcoin mining and digital economy at large. Power outages lead to suspension of mining activities, disruption of Internet access, and even financial activities become impossible.

The major miners use backup systems or choose locations where energy facilities are reliable enough to minimize the risk of power outage. At the same time, small-scale miners do not have such an opportunity and, thus, they are very sensitive to the lack of power.

It serves as a good illustration of the fact that for the functioning of the digital industries the presence of reliable infrastructure becomes equally important to the technological progress.

[dansus021]

No, Bitcoin would not become a "dead database," nor would its credibility be ruined forever.

Miners do not own or control the Bitcoin network; they are service providers paid to sequence transactions and secure the ledger. If all current miners quit, the system would stall temporarily, but the mathematical self-correction built into the Difficulty Adjustment guarantees that block production eventually recovers.