what will happen if the miner stopped mining cryptocurrencies?

[Stompix]

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?

[ZAINmalik75]

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.

[lepbagong]

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.

Of course, what you are worried about could happen and that is because mining has indeed stopped, and it is difficult not to do that because they need each other.
If the internet is indeed down, then it will not be able to connect and that connection requires an internet network that must be available properly, so if there is none, then it will stop and die along with the internet.
That's right, that no one will be able to add anything to all their activities, so no transactions can happen.

[ZAINmalik75]

Of course, what you are worried about could happen and that is because mining has indeed stopped, and it is difficult not to do that because they need each other.
If the internet is indeed down, then it will not be able to connect and that connection requires an internet network that must be available properly, so if there is none, then it will stop and die along with the internet.
That's right, that no one will be able to add anything to all their activities, so no transactions can happen.

If Internet will go down, things will be too bad for big businesses not only for crypto because if internet goes down, everything will stays there where it was left for example if internet all over the world goes down now, the mining will stop where it is now, the last block will be remember when the mining starts again.

Internet can't go off all over the world under any condition until we are trusting more than 1 provider and all of the internet is connected via cables so we don't even need too many satellites but they are alternative.

[Trongduy]

Of course, what you are worried about could happen and that is because mining has indeed stopped, and it is difficult not to do that because they need each other.
If the internet is indeed down, then it will not be able to connect and that connection requires an internet network that must be available properly, so if there is none, then it will stop and die along with the internet.
That's right, that no one will be able to add anything to all their activities, so no transactions can happen.

We don't need to discuss topics like these, because we all know that if miners don't work, the blockchain will be disrupted, and the network will become meaningless. I also can't foresee what could create such a scenario, even if farms are destroyed, somewhere in the world, many individuals are still continuously generating blocks to be ready to serve everyone.

Suppose the blockchain is delayed due to a power outage, and crypto also cannot be withdrawn from the blockchain. In that case, we will have many other concerns instead of just focusing on market sentiment or the reaction of top coins. Food, drinking water, and jobs will be what we talk about when the internet is down. Crypto holders will need enough faith to continue holding their keys, wait for the power grid and internet to be restored to continue investing or simply take profits.

[Stompix]

Internet can't go off all over the world under any condition until we are trusting more than 1 provider and all of the internet is connected via cables so we don't even need too many satellites but they are alternative.

There are basically 7 cables that, if cut, will section the internet in 3 zones, that is the moment you will have a fork in the black chain as every miner located in each zone will keep on solving his blocks and not receive any other tx, while for other service such a thing will not be of any importance for Bitcoin it will be a disaster since for each 1/3 of the world the tx of the other 2/3 never happed.

Also, no, satellites would never be able to support even 1% of the traffic from the data cables, Starlink's maximum capacity is not even 1% of the North Atlantic route capacity.

[ZAINmalik75]

There are basically 7 cables that, if cut, will section the internet in 3 zones, that is the moment you will have a fork in the black chain as every miner located in each zone will keep on solving his blocks and not receive any other tx, while for other service such a thing will not be of any importance for Bitcoin it will be a disaster since for each 1/3 of the world the tx of the other 2/3 never happed.

Also, no, satellites would never be able to support even 1% of the traffic from the data cables, Starlink's maximum capacity is not even 1% of the North Atlantic route capacity.

That's really scary and you are right 99% of the transmission is due to the undersea cables, and the satellites can't manage all of them. I searched but did not found anything about if 7 cables got cut the world will be partitioned into 3 parts if that's what you meant.

If that is 100% true then that's really scary for others, only the person using internet in one section would be using blockchain so that section could have 10 million users making transactions so that means, few part of the world won't be able to, sorry if I misunderstood your point here.

[Stompix]

That's really scary and you are right 99% of the transmission is due to the undersea cables, and the satellites can't manage all of them. I searched but did not found anything about if 7 cables got cut the world will be partitioned into 3 parts if that's what you meant.

You need to separate the two main cables from the Middle East and the ones from Central America, plus the three main ones between US and Europe in Florida, this will lead to all traffic to reroute through the Northern Atlantic, crashing the rest of the system and returning the system back to dial-up.
Even if repaired in a few hours as it would be the damage would still be impossible to recover for a system that needs to communicate 24/7 between them.

If that is 100% true then that's really scary for others, only the person using internet in one section would be using blockchain so that section could have 10 million users making transactions so that means, few part of the world won't be able to, sorry if I misunderstood your point here.

No, that is what would happen, it's a version of a Sybil attack when you isolate nodes
https://en.bitcoin.it/wiki/Weaknesses#Sybil_attack

[ZAINmalik75]

You need to separate the two main cables from the Middle East and the ones from Central America, plus the three main ones between US and Europe in Florida, this will lead to all traffic to reroute through the Northern Atlantic, crashing the rest of the system and returning the system back to dial-up.
Even if repaired in a few hours as it would be the damage would still be impossible to recover for a system that needs to communicate 24/7 between them.

But there are many cables between Middle East and Central America and there are not only three cables between US, Europe but there are many. I searched on Google to see if there is any map, and I found this one Not sure how reliable it is, but it seems more logical that the world is not just connected via some main lines but they have alternative lines too. If one goes down, the other will support the network only the speed might be affected.

No, that is what would happen, it's a version of a Sybil attack when you isolate nodes
https://en.bitcoin.it/wiki/Weaknesses#Sybil_attack

This is really interesting. I thought I learned basics of sybil attack but this site is really informative.

[|MINER|]

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?

Yes you are right. But if you mean indirectly that the machines dig new blocks then we cannot deny it because even if the machines do not dig blocks directly, they do it indirectly with their mathematical power Like the more power a machine has, the more counting and block mining it can complete.

And since Ethereum shifted from proof of work to proof of stake, it has been in a bad state and I think it will be even worse in the future because it has no limited maximum supply, its maximum supply is infinite.