What would happen if everybody stopped mining?

[Deleted member 403]

What would happen if everybody stopped mining? Would every single coin and token on the crypto market lose its value as there is nobody to mine the blockchains when sending and receiving? Is this something that could happen in your view?

 

[Ralphjoe]

What I think would happen to most cryptocurrencies if mining them stopped is that most of the cryptocurrencies will lose their value because they will now be concentrated in few people's hand or wallet instead of them circulating by means of mining.

 

[Sotherefore]

what will just happen is that the price of all cryptocurrency will go up because that will be the end of the total supply of a particular cryptocurrency and it will definitely shoot the price of the cryptocurrency up, mining means in increasing and circulating more coin into the crypto system.

 

[Justin]

If crypto currencies are no more mined, no more coins will be released in the market. When new coins are not released, there will be more demands and less supply, which will increase the price

 

[Richard92]

If crypto currencies are no more mined, no more coins will be released in the market. When new coins are not released, there will be more demands and less supply, which will increase the price

Yes I partially agree with your statements that if everyone stop mining cryptocurrency that Nokia will be released and the demand will be more why supply will be less and this may increase the price of cryptocurrency in the market.

 

[Dowenship]

What would happen if everybody stopped mining? Would every single coin and token on the crypto market lose its value as there is nobody to mine the blockchains when sending and receiving? Is this something that could happen in your view?

I think the reverse will be the case, because the coins will become scarce and this will lead to high in demand which in turn increase the price adequately.

 

[Fizzy_boi]

If everybody ever happen to stop Crypto at all or the mining of the coin things we be mainly based on buying and not on getting coins from sites at all.

 

[Nomad]

Just like central banks print bank notes and release in the market, crypto currencies need to be mined to be released in the market. If no one mines, there will be no new coins.

 

[Bookwormlux]

This could cause the price of different Crypto Currencies to make significant rise as there won't be much of them in circulation, giving chance for high Demand.

 

[Snazzy001]

But play great extent I don't think my name is the more reason why cryptocurrency is in circulation, mining has been here because most of us could not afford to get the coins with our money

 

[Peterlight]

Climate change, investors or create the mining rig get to lose their money. But really, nothing bad will happen except it will be useless.

 

[Snazzy001]

Let us just say that we are discussing in possibilities as well because it is highly impossible for someone to stop mining cryptocurrency because money exists there too

 

[eLdavis]

If everyone stops minning, i believe there would be shortage of coins to go under speculation. And then again the blockchain would be totally empty with time, as there would be no more transactions taking place.

 

[Nurudeen]

If everybody stop mining crypto, I think the price will go up because there will be scarcity in the market and with that a lot of people will find it hard to buy and law of economics will enter the market

 

[Setho]

This is actually a very tricky question but if people should stop mining then I think we will not be able to send and receive cryptocurrencies which will basically mean the end of the whole project.

 

[Dowenship]

This is actually a very tricky question but if people should stop mining then I think we will not be able to send and receive cryptocurrencies which will basically mean the end of the whole project.

Hmm... that's true ooo.., but does mining determine the nodes of transaction, what I think will happen is the demand will increase which increases the price.

 

[Dot]

Well I think if people wrote to stop mining the value of crypto might actually go up.

 

[Bousine123]

I believe if people stop mining bitcoin, there will be no need to invest on bitcoins again because, it means that the business is no longer working and people will move to other ways of earning money.

 

[Lens]

If everyone stopped mining, the hashrate will reduce drastically and the price of cryptocurrencies will decline pre-eminently. This isnthe adverse effects of reduced global hashrate.

 

[Sincerem]

Then the availability of more crypto currency in the exchange market would be brought to a halt leading the price of the already available crypto currency to rise drastically In it's value.