Altcoins Talks - Cryptocurrency Forum
Learning & News => For Beginners => Basic Questions about Cryptos => Topic started by: Royal Cap on March 29, 2025, 06:23:03 PM
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I was thinking about cryptocurrencies.Then find that cryptocurrencies exist only for the miners. What would happen if the miners stopped mining?
Will cryptocurrencies die?
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There are plenty of discussion threads about this topic already, whether here in this forum, on Reddit, or even on Bitcointalk. You might want to do a bit more research to determine if this is a genuine question of yours or just a topic for discussion.
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Without miners, the network will stall but do we have the possibility of it happening? Hell no.
If the number of miners is reduced the mining difficulty will reduce so more chances to find a block with less hash power so in reality no one will do that and even if it happens due to the other reasons the remaining miners will just continue their operations.
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As long as bitcoin mining is profitable, there will always be miner. What can happen is if bitcoin mining is not profitable, some miners will stop mining, the hastrate will decrease, making the mining difficulty to reducing in a way that mining will be profitable for the remaining miners. Bitcoin mining can not just stop.
I was thinking about cryptocurrencies.Then find that cryptocurrencies exist only for the miners. What would happen if the miners stopped mining?
Will cryptocurrencies die?
Maybe the world is coming to an end and nothing is working as it should. I expect even gold mining to have stopped by that time and people would have stopped working. Something terrible would have happened and threaten human existence.
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As long as bitcoin mining is profitable, there will always be miner. What can happen is if bitcoin mining is not profitable, some miners will stop mining, the hastrate will decrease, making the mining difficulty to reducing in a way that mining will be profitable for the remaining miners. Bitcoin mining can not just stop.
Actually, I don't have much idea about this blockchain.If you could provide a link to a good post about this, I could gain better knowledge on this topic.I used to think that blockchain was only used in crypto, but then I heard that voting can be done with blockchain technology.
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Cryptocurrency can’t die because mining can never stop but can only get reduced because as long as Bitcoin mining is rewarding and profitable, there will always be someone mining it. Again, not all cryptocurrencies come from mining. For instance, Solana and Ethereum does not rely on mining, instead they use the Proof-of-stake consensus.
Even though mining reduces not all cryptocurrencies will be affected, so i don’t think you should generalize crypto mining because Bitcoin needs to be mined.
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Your research is too limited, my friend. If you had continued and researched a little bit more, you would find out that there is more than one consensus mechanism that is used for different blockchains, and it's not only mining that every cryptocurrency requires for it to operate. It's mainly Bitcoin and some other cryptocurrencies that work on the PoW (Proof of Work) consensus mechanism, which requires miners to use hardware to solve mathematical problems and get rewarded for it, but there are other mechanisms as well, such as PoS.
And, what you are referring to is possible only in theory, but practically, that isn't going to happen because there are too many people and companies who are willing to get into mining but are giving it a second thought only because they think it might not be profitable enough for them, so if current miners stop, they will step in and cover the area.
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only the pow will die once miners stop mining. BTC for instance will die if no miners will mine but why would they do that when the incentives are far greater. what purpose should they have in stopping?
there are cryptocurrencies that doesn't need mining suck as POS. the only need validators in ETH's case. so many cryptocurrencies with a different consensus and governance. they will survive still.
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Why would anyone stop mining crypto? This is a money printer and you are here suggesting that they will simply turn it off. It doesn't work that way.
Some crypto doesn't even use miners anymore, they use proof of stake.
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Why would anyone stop mining crypto? This is a money printer and you are here suggesting that they will simply turn it off. It doesn't work that way.
Some crypto doesn't even use miners anymore, they use proof of stake.
Some people say that the mining process has a bad effect on the Earth, even though mining machines are not as bad as the factories that continue to operate with pollution that is even more understandable.
And some also stop mining because they don't make a profit because of the lack of mining machinery they have and the huge cost of electricity and maintenance costs required.
Now mining is very easy, even without the need for any tools.
As you said, it only uses proof of ownership and this only runs on POS like Ethereum etc.
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I was thinking about cryptocurrencies.Then find that cryptocurrencies exist only for the miners. What would happen if the miners stopped mining?
Will cryptocurrencies die?
Cryptocurrency doesn't exist only for the miners, it exists for all. You wanted to say cryptocurrency exists only because miners exist. Asking what happens in the crypto industry when miners stop mining is like what happens to cryptocurrency when buyers stop buying. It is a system and miners constitutes one component such as buyers, traders etc. There is no how every miner will just stop mining because it is a business that is profitable. As Charles-Tim said above, the more individual miners drop, the more profitable mining becomes and this will prompt new individuals to join mining.
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Mining keep the bitcoin network active and secured, therefore, not all miners will stop mining at once because we have a lot of them in the business. Some will pack up when they are not making profits and the ones remaining in bitcoin mining game will continue because they are making profits. If mining stops, the network will not be active.
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For those cryptocurrencies that are PoW (Proof of Work), such a scenario would mean that they could no longer function unless they were transformed into PoS (Proof of Stake). So in that regard the answer is pretty clear.
When it comes to BTC, the facts say that there are only a little over 1 million coins left to be "mined", and by 2032, 99% of all BTC will have been mined, so the interest of miners will most likely decrease as time goes on. 1% (210 000) of BTC will remain for the next 100+ years and it will be really interesting to see who and how will compete for them.
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For those cryptocurrencies that are PoW (Proof of Work), such a scenario would mean that they could no longer function unless they were transformed into PoS (Proof of Stake). So in that regard the answer is pretty clear.
When it comes to BTC, the facts say that there are only a little over 1 million coins left to be "mined", and by 2032, 99% of all BTC will have been mined, so the interest of miners will most likely decrease as time goes on. 1% (210 000) of BTC will remain for the next 100+ years and it will be really interesting to see who and how will compete for them.
In other words, when the mechanism of a coin is solely POW, all the transaction that are being made after all the miners stop mining will be pending. But it's far from reality that all miners will stop mining. They will continue mining as long as there is a coin left to be mined. With Bitcoin, because of scarcity there's no chances that miners will stop mining. Scarcity makes the price more valuable when times go by, one of best key features of Bitcoin.
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Cryptocurrency can’t die because mining can never stop but can only get reduced because as long as Bitcoin mining is rewarding and profitable, there will always be someone mining it.
Yeah, it will never stop...
What happens if Bitcoin drops to 10k?
All large farms go bankrupt, inase amount of hasrate is gone, due to the difficulty adjustment if this happens during the middle of the week you're going to see a block every 100 minutes instead of 10, and that for the next two and a half months before the difficulty adjustment kicks in, at which point you're still going to see a block every 20 minutes for another month.
You imagine what that will do to the network? A capacity of only 50k transaction day for two months?
Cryptocurrency doesn't exist only for the miners, it exists for all. You wanted to say cryptocurrency exists only because miners exist. Asking what happens in the crypto industry when miners stop mining is like what happens to cryptocurrency when buyers stop buying. It is a system and miners constitutes one component such as buyers, traders etc.
The moment mining stops, everything else becomes irrelevant.
Traders, merchants, and owners all depend on the blockchain adding blocks with no further blocks there is no bitcoin.
Bitcoin can exist safely without traders or exchanges as it did for years without miners there is nothing.
Why would anyone stop mining crypto?
The same reason I stopped mining Bitcoin. It wasn't profitable anymore.
If we visit 60k due to the orange madman in the Whitehouse, you're going to see how many will do the same!
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I was thinking about cryptocurrencies.Then find that cryptocurrencies exist only for the miners. What would happen if the miners stopped mining?
Will cryptocurrencies die?
There are cryptos that are not POW. That's why even without miners, they can be bought and has a premined supply. But going with the question if the miner stop mining crypto, there will be no one to confirm our transactions. There will be no one to maintain the security of the network because aside from mining cryptos, they're also helping to make the network stable and clear.
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For every miner in the world to shut down and pack their gears, then mining has to be completely unprofitable, will it happen, i really doubt it, have some miners stopped mining because they couldn't make profit? Yes.
The mining difficulty is also there to find a balance and keep mining going, so i don't think there is a risk of all miners stopping.
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Despite the impossibility of it happening, because there are factors where the income will be large if there are only a few miners, then I will still assume that the miners really disappear for other reasons....
What will happen, is clear, the network will die and coins can no longer be transacted.... no one to process blocks, that means all transactions will be stuck and stopped.... I think that's the end of everything, until someone acts as a miner again..
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Why would miners stop? They get rewarded for doing it. I don't think that's going to happen, though. A lot of this kind of discussion has been discussed, and I believe you should research some of it.
Try to understand why it's not going to happen.
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Even when bitcoin mining is declared closed, the network of transactions can still be broadcast. No matter how close we get to Bitcoin so people are constantly wondering what the future holds. However, Bitcoin miners will be the ones who will suffer the most from such problems. This is not a problem because we will not be getting a new supply of bitcoin, so it has been suggested that the trade fees will probably be enough to meet the needs of miners. although the reasonableness of the claim is debatable.
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Even when bitcoin mining is declared closed, the network of transactions can still be broadcast.
You can broadcast transactions how much you want , if there is no block solved and added to the blockchain, there is no successful confirmation.
Without miners, there are no finalized transactions and nothing one can do about it.
Although close to impossible, if the situation were to arise, there is no quick fix solution for it.
The mining difficulty is also there to find a balance and keep mining going, so i don't think there is a risk of all miners stopping.
The difficulty adjustment is actually the weakness here.
If 90% of the miners would quit till you reach the difficulty adjustment you're going to have a block every 100 minutes for 5 months, assuming all quit at the strat of the epoch.
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I was thinking about cryptocurrencies.Then find that cryptocurrencies exist only for the miners. What would happen if the miners stopped mining?
Will cryptocurrencies die?
Are you just asking about the Bitcoin mining?
To know the answer to this question, you first need to know what actually happens through Bitcoin mining. Bitcoin miners confirm each transaction through mining that's how we transact our bitcoin.
Now I think by yourself you would understand what will happen if Bitcoin miners turn off mining. If all the Bitcoin mining is turned off, then since it is based on POW, no one will be able to make any new transactions through Bitcoin. Thus, the coins that are under POW will also be in the same situation if their miners turn off mining.
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The obvious and sad truth is that'd there are no minners there won't be anything like Bitcoin transaction confirmations and once that is not there it means the Bitcoin network is granded this makes it impossible for Bitcoin miners to become suddenly unreachable and the network becomes offline.
As far as there is profitability in running a Bitcoin mining farm it will make much sense that only those with the knowledge are made to operate mining rings so as they make the profits there will always be a miner willing to mind the next block.
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I was thinking about cryptocurrencies.Then find that cryptocurrencies exist only for the miners. What would happen if the miners stopped mining?
Will cryptocurrencies die?
A reasonable question if someone asks, but will it happen? Of course, the answer can happen and also cannot happen, Where all that mining will be done is still valuable or not? During mining, it can make a lot of money. It can be said that no one will stop mining.
So there is no need to worry, as long as it is profitable, the miners will not stop.
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I was thinking about cryptocurrencies.Then find that cryptocurrencies exist only for the miners. What would happen if the miners stopped mining?
Will cryptocurrencies die?
No, cryptocurrencies does not exist for the miners only, who you think these miners sell these tokens after mining, do you think they keep the mined tokens to themselves? If yes then how can it be profitable to them?
Your concept is wrong, first you should give us some idea of what do you know about mining and how this market works. For starters I can tell, these miners sell their mined tokens to the buyers and then buyers either do trading or investing that depends on them and the market and demand of the tokens.
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I was thinking about cryptocurrencies.Then find that cryptocurrencies exist only for the miners. What would happen if the miners stopped mining?
Will cryptocurrencies die?
No, cryptocurrencies does not exist for the miners only, who you think these miners sell these tokens after mining, do you think they keep the mined tokens to themselves? If yes then how can it be profitable to them?
Your concept is wrong, first you should give us some idea of what do you know about mining and how this market works. For starters I can tell, these miners sell their mined tokens to the buyers and then buyers either do trading or investing that depends on them and the market and demand of the tokens.
I think you are right that crypto is not only about mining, because it is by trading that crypto can run too.
I think miners will not immediately sell whatever they get immediately but will store it and will sell when the price is considered profitable for them. However, with the aim of mining, all costs that have been incurred will be calculated whether they is appropriate at that time to be able to receive profit or not before intending to sell it.
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I think you are right that crypto is not only about mining, because it is by trading that crypto can run too.
I think miners will not immediately sell whatever they get immediately but will store it and will sell when the price is considered profitable for them. However, with the aim of mining, all costs that have been incurred will be calculated whether they is appropriate at that time to be able to receive profit or not before intending to sell it.
We have miners in POW and forgers in POS. If every blockchain abandons POW to use POS, miners will no longer exist. However, the possibility of BTC abandoning POW is very low because the decentralization and strength of the BTC network depend on miners and a decentralized mining system worldwide. Miners participate in the crypto market to generate profits, there's no reason for them to give up this job and opportunity.
However, suppose every mining system of BTC miners encounters some silly software bug and stops working for a few days. The crypto market will fall into crisis even if everything can be quickly restored afterward. In the event of a global power outage due to a solar storm, we would then worry about many survival issues instead of paying attention to BTC ^^
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I was thinking about cryptocurrencies.Then find that cryptocurrencies exist only for the miners. What would happen if the miners stopped mining?
Will cryptocurrencies die?
No, cryptocurrencies does not exist for the miners only, who you think these miners sell these tokens after mining, do you think they keep the mined tokens to themselves? If yes then how can it be profitable to them?
Your concept is wrong, first you should give us some idea of what do you know about mining and how this market works. For starters I can tell, these miners sell their mined tokens to the buyers and then buyers either do trading or investing that depends on them and the market and demand of the tokens.
I think you are right that crypto is not only about mining, because it is by trading that crypto can run too.
I think miners will not immediately sell whatever they get immediately but will store it and will sell when the price is considered profitable for them. However, with the aim of mining, all costs that have been incurred will be calculated whether they is appropriate at that time to be able to receive profit or not before intending to sell it.
Mining and trading goes hand in hand. Trading, investing and mining keeps the network ongoing and if any of them is missing, it will definitely affect bitcoin in one way or the other. Whatever amount of bitcoin that you have must be sold in future and you cannot keep them in an exchange to avoid loss of asset.
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Mining and trading goes hand in hand. Trading, investing and mining keeps the network ongoing and if any of them is missing, it will definitely affect bitcoin in one way or the other. Whatever amount of bitcoin that you have must be sold in future and you cannot keep them in an exchange to avoid loss of asset.
But at least when investment activity is lost and banned, Bitcoin can still be transacted, because there are still miners who will process your transactions... the price of Bitcoin may drop drastically but it can still run with traffic that is not as dense as it is now...
Then if the miner is lost and leaves the network, then all transactions will not be able to occur... assume there are no miners at all processing Bitcoin transactions, then your transactions will be stuck and trading and investment activities will also be meaningless...
Like the human body, the miner is the heart that circulates blood throughout the body... while trading or investment activities are the legs and hands... improvising so that the body can be more perfect....
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Mining and trading goes hand in hand. Trading, investing and mining keeps the network ongoing and if any of them is missing, it will definitely affect bitcoin in one way or the other. Whatever amount of bitcoin that you have must be sold in future and you cannot keep them in an exchange to avoid loss of asset.
Bitcoin can exist without trading, it has done so for years.
Bitcoin can't exist without mining, the moment that stops you can't transfer value anymore, it's done.
And no, trading is not something that Bitcoin needs, moreover, it's trading that affected its adoption as a currency.,
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Bitcoin can exist without trading, it has done so for years.
Bitcoin can't exist without mining, the moment that stops you can't transfer value anymore, it's done.
And no, trading is not something that Bitcoin needs, moreover, it's trading that affected its adoption as a currency.,
We can elaborate on this: the Btc blockchain will still exist even if no transactions are made, we'll have a series of empty blocks, similar to Ada's situation before. However, if miners no longer operate to maintain the network, the blockchain won't be able to exist, and that native token, along with many other tokens in its ecosystem, will lose all of its value, possibly temporarily or permanently.
We can also look at the issue more openly: the Sol blockchain has experienced many outages, but SOL still has a high price and a much larger marketcap than many other native tokens in the crypto market. Ultimately, investor confidence will determine the value of an asset in the market.
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We can elaborate on this: the Btc blockchain will still exist even if no transactions are made, we'll have a series of empty blocks, similar to Ada's situation before.
No, we will not have empty blocks as no mining is being done and no blocks are being solved.
The moment miners stop the chains stops and no blocks , not even empty ones are mined.
However, if miners no longer operate to maintain the network, the blockchain won't be able to exist,
Again, wrong! The blockchain will still exist on every node!
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Of course, cryptocurrency will have a big problem if miners will stop doing their business and this can be so true for Bitcoin. Now, the next question is: What are the possibilities that miners will one day decide they are just closing shop and will refused to stop doing business altogether? The thing is that it is very remote for a situation like that to happening as miners are making some money. They will not stop not even political factor can stop these people just like what happened in China. Miners are very innovative and they can easily adopt to different situations and challenges. But if we can have a global and massive war, maybe these miners will definitely abandon mining and would naturally focus more on survival.
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I was thinking about cryptocurrencies.Then find that cryptocurrencies exist only for the miners. What would happen if the miners stopped mining?
Will cryptocurrencies die?
If miners stop mining, then we might face difficulty in getting our transaction processed and validated. Both congestion will be high, and if we say all of the miners will stop, then how we will be able to move our funds from one wallet to another? We could do validation from ourselves by running a node and adding it to the network, but that won't be enough IMO, as we need the whole network.
As validation + confirmation, both are necessary for a TX to be completed. In short, crypto market might cease to exist.
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I was thinking about cryptocurrencies.Then find that cryptocurrencies exist only for the miners. What would happen if the miners stopped mining?
Will cryptocurrencies die?
Cryptocurrency will not die if the miners stops mining and there is no way the miners will stop mining when all bitcoins left to be mined are not fully mined out in circulation. And if you’re thinking about what will happen after they have all mined the bitcoin left, miners won’t remain jobless because they’ll still be the ones to be confirming transactions on to the blockchain. The miners rewards will not cease still and will continue to be given to them after approving any transaction into the blockchain.
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We could do validation from ourselves by running a node and adding it to the network, but that won't be enough IMO, as we need the whole network.
Maybe I misunderstood this, but adding a new node doesn't mean we can mine a new block. We still need a miner to do that (unless you're referring to solo mining in this case). Anyway, if this is specifically about Bitcoin, I do agree that we'll see a lot of congestion when the number of miners is low while the difficulty is really high. I won't say the market will die because of that, though. We'll see a lot of bloodbath for sure, but there are tons of PoS chains out there. Maybe the scale of the market will be significantly smaller if such an extreme situation happened, but I doubt crypto will fully die because of that. CMIIW.
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I was thinking about cryptocurrencies.Then find that cryptocurrencies exist only for the miners. What would happen if the miners stopped mining?
Will cryptocurrencies die?
Cryptocurrency will not die if the miners stops mining and there is no way the miners will stop mining when all bitcoins left to be mined are not fully mined out in circulation. And if you’re thinking about what will happen after they have all mined the bitcoin left, miners won’t remain jobless because they’ll still be the ones to be confirming transactions on to the blockchain. The miners rewards will not cease still and will continue to be given to them after approving any transaction into the blockchain.
It seems the OP meant if cryptocurrency will stop existing if miners stopped mining them…in this case he might be referring to Bitcoin.
Personally, I would have said no in the case of Ethereum which rely on Proof-of-Stake but in the case of Bitcoin that is PoW it will definitely be affected if miners stopped but the whole cryptocurrency ecosystem will continue to exist.
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Maybe I misunderstood this, but adding a new node doesn't mean we can mine a new block. We still need a miner to do that (unless you're referring to solo mining in this case). Anyway, if this is specifically about Bitcoin, I do agree that we'll see a lot of congestion when the number of miners is low while the difficulty is really high. I won't say the market will die because of that, though. We'll see a lot of bloodbath for sure, but there are tons of PoS chains out there. Maybe the scale of the market will be significantly smaller if such an extreme situation happened, but I doubt crypto will fully die because of that. CMIIW.
I exactly meant that, we do need miners for precessing and addition of new block, so we need validator + miners both. Therefore if we specifically talk about BTC it could be dead but even if we talk about any other mechanism based network like pwos pos etc. They still wont survive.
This would never happened, because till 2140 not all the BTC will be mined Google says, if that's true till then we are going to see miners, they're not going anywhere. So we really don't have to worry about this, it was a big if answer.
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Though it is clear that cryptocurrencies are a digital marketplace that helps and bursts many people's lives in terms of financial freedom, I don't think that saying money printers will stop working is appropriate because, in my opinion, the cryptocurrency market is on a different level and won't stop existing.
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obviously there will be no effect of crypto with mining, because two different things because miners will stop if the calculation that is mined with expenditure will be greater than the expenditure then by itself the miners will stop but not with crypto it will continue to exist.
because in principle crypto is not only because of mining but there are many aspects that can happen and all can run with many who participate in it and are not directly connected to mining alone.
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Mining and trading goes hand in hand. Trading, investing and mining keeps the network ongoing and if any of them is missing, it will definitely affect bitcoin in one way or the other. Whatever amount of bitcoin that you have must be sold in future and you cannot keep them in an exchange to avoid loss of asset.
You are right with only trading crypto won't work even if we do the deals hand to hand we need more mined token so if miners stop mining then they will find something else although this can't be a situation ever but if we suppose they stopped then something else alternative to mining will come up like pre-mined tokens.
BTC and other mineable coins will be affected only which can affect the market in a big way. Not healthy although this is like some fictional discussion which will never happen, it is like the internet going off on all over the world or electricity going off on all over the world and no one could make a transaction using their devices it is same as miner stops mining.
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I think you are right that crypto is not only about mining, because it is by trading that crypto can run too.
I think miners will not immediately sell whatever they get immediately but will store it and will sell when the price is considered profitable for them. However, with the aim of mining, all costs that have been incurred will be calculated whether they is appropriate at that time to be able to receive profit or not before intending to sell it.
No this was not what I meant, mining is the necessary part of the cryptocurrency world and trading too. Without mining we cannot send asset from one non custodial wallet to another in other words we can't make on chain transaction which can be troublesome and without trading it can be difficult to swap and sell and buy the coins we require.
Both are the necassary parts, what I meant was, it does not only work with miners but it won't mean it will work just fine without it.
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I think you are right that crypto is not only about mining, because it is by trading that crypto can run too.
I think miners will not immediately sell whatever they get immediately but will store it and will sell when the price is considered profitable for them. However, with the aim of mining, all costs that have been incurred will be calculated whether they is appropriate at that time to be able to receive profit or not before intending to sell it.
No this was not what I meant, mining is the necessary part of the cryptocurrency world and trading too. Without mining we cannot send asset from one non custodial wallet to another in other words we can't make on chain transaction which can be troublesome and without trading it can be difficult to swap and sell and buy the coins we require.
Both are the necassary parts, what I meant was, it does not only work with miners but it won't mean it will work just fine without it.
I agree with what you said that both are very necessary and inseparable parts and very important and very interconnected. It is indeed very difficult not to have a relationship between them. If they really need each other by themselves, they will always be one unit to need each other.
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because in principle crypto is not only because of mining but there are many aspects that can happen and all can run with many who participate in it and are not directly connected to mining alone.
False.
Without mining, be it PoS or Pow, there will be no crypto because you can't exchange it anymore, you can't move it anymore, so who is going to pay you something for your coins when they can't receive them?
I agree with what you said that both are very necessary and inseparable parts and very important and very interconnected. It is indeed very difficult not to have a relationship between them. If they really need each other by themselves, they will always be one unit to need each other.
You still don't realize that without mining there is no purpose for any coin and there is no utility for it.
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obviously there will be no effect of crypto with mining, because two different things because miners will stop if the calculation that is mined with expenditure will be greater than the expenditure then by itself the miners will stop but not with crypto it will continue to exist.
because in principle crypto is not only because of mining but there are many aspects that can happen and all can run with many who participate in it and are not directly connected to mining alone.
My opinion is that to speak about the cessation of crypto development is quite impossible as long as mining activity is declining. Mining was prominent in the proof of work of crypto but the future is multiplied with proof of stake, application, and excitation of the blockchain applications on the real world. In view of the existing circumstances, even for large projects such as Ethereum, mining has begun to be called off. This just prove that the essence of crypto was not in the creation of machines that dig new blocks but in the need among people to come up with something that is more fair and less oppressive.
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In view of the existing circumstances, even for large projects such as Ethereum, mining has begun to be called off. This just prove that the essence of crypto was not in the creation of machines that dig new blocks but in the need among people to come up with something that is more fair and less oppressive.
First thing, machines don't dig new blocks, nor do they drill for blocks or anything else, they solve blocks!
Second thing, how did ETH fare since it switched from POW? Lost what 5%, 10% ,or 50% against Bitcoin?
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I agree with what you said that both are very necessary and inseparable parts and very important and very interconnected. It is indeed very difficult not to have a relationship between them. If they really need each other by themselves, they will always be one unit to need each other.
That's exactly what I meant. So therefore we cannot survive without mining although we are not doing it. Crypto market can be shut down if mining stops. To understand this phenomenon, pretend the internet goes off in all over the world, no one could connect to the network by their nodes.
No one can add any transactions, or create new block etc. Thus no one can make transaction either, no one can use exchanges or dexs whole market will shut down same thing can happen but only few things might be working like maybe exchages will be working.