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SubscribeIs it possible that number of miners will decrease for a while?
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#1
Is it possible that number of miners will decrease for a while?
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#2
I think this is highly possible. The rewards have decreased and some miners might not see the value to be a worthy compensation for the expenses that they would acquire while mining.
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#3
Oh it's definitely possible, probably until the price goes high enough for bitcoin to be worth mining again. Especially for the small-time miners who has significantly slimmer profit margins compared to the big-time miners. In fact, this is what I assume will happen as it's the most likely one in my opinion. I don't think it's likely for bitcoin to rise in price in the short term.
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#4
There is high possibility of it happening. Mining is a costly business to start and it also needs a good amount of recurring cost to maintain. So if bitcoin price isn't increasing now, a lot of small miners will be forced to leave mining because it will be cheaper for them to buy bitcoins from the market instead of mining it.
However, we haven't seen any signs of it. Let's keep a close watch on the situation. It seems bitcoin won't disappoint the miners.
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#5
I was worried about that, I see an article before the halving event happeened who stated that the miner will be profitable if bitcoin price has a price around $10.000 when halving event has happened. So I just thinking that in this situation there will be some miner who leave their mining rig until the price of bitcoin back to high. They are an important part in bitcoin ecosystem because they have a function to validate every transaction but they will thinking to pay each cost if they turn on the mining rig to start mining bitcoin. Hopefully bitcoin price will increase again and reach new all time high.
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#6
Some may really leave especially the small miners. If you know how much can mining cost, then you would understand why some might stop mining.Originally Posted by Alexthedefender04
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#7
Some miners may probably stop but I think many will still stay. Miners receive a reward from the transactions that people make so it will still not be bad for miners.
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