3 ms·

Wouldn’t fewer miners = higher prices with all else being equal?

• Jagat 9y ago
  Also isn't fewer miners => reduced difficulty => higher chances of solving the puzzle => greater chance of a successful mine => potential profit?
  • raesene9 9y ago
    Fewer organizations mining doesn't necessarily mean lower hashrate. As new hardware comes online for the big miners the hashrate could still increase whilst the number of organizations mining decreases.
  • leovailati 9y ago
    Yes, but only momentarily. These big consolidated miners will keep investing in their highly efficient hardware and mining power will keep going up.
• adventured 9y ago
  That's the problem, all things may not be equal. Bitcoin may not end up being worth what people thought it was going to be. It may continue to drop (or stagnate) over time with zero miners active. It's not an exaggeration to say that nobody knows whether that will be the outcome.
• jcfrei 9y ago
  No, the difficulty adjusts every 2016 blocks (so about every 14 days). So when miners stop and blocks take longer to mine then the supply of new bitcoins is only reduced for a short amount of time.