Cryptocurrency Q&A
What happens to Bitcoin if everyone stops mining?
What happens to Bitcoin if everyone stops mining?
Sara
Thu Nov 28 2024
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5
answers
1252
I'm wondering about the scenario where everyone decides to stop mining Bitcoin. Will it affect the value or the existence of Bitcoin in any way?
5 answers
CoinMasterMind
Sat Nov 30 2024
The generation of bitcoins will cease once the supply reaches its predetermined upper limit.
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AndrewMiller
Sat Nov 30 2024
This limit is a fundamental aspect of Bitcoin's design, ensuring a finite amount of the cryptocurrency in circulation.
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Giulia
Sat Nov 30 2024
Once this limit is reached, miners will no longer receive new bitcoins as a reward for their computational efforts.
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Stefano
Fri Nov 29 2024
Instead, Bitcoin miners will have to rely solely on transaction fees to generate income.
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Elena
Fri Nov 29 2024
Transaction fees are paid by users to prioritize their transactions and ensure they are processed quickly by miners.
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