Quote from: bit1 on July 02, 2016, 09:08:55 PM

Quote from: fravia on June 22, 2016, 07:12:56 PM

Quote from: helloeverybody on December 26, 2015, 10:19:31 AM

If the price doesnt rise then the miners stop mining because of lack of profit, Once this happens the network becomes less secure and bitcoin starts dying off. Whats to stop this from happening? Maybe we are getting to prices that cant be maintained with the current user base. I wasnt here at the last halfing and the price will need to be much higher so im not too sure what will happen.

I think that answer is pretty simple, bitcoin would die, as all bitcoins miners wouldn't get any profit so they would leave their jobs

And with no miners bitcoin would die pretty soon, unless there will be new miners that have very cheap electricity and they still will get profit

Total network hashing rate has kept a trend up until now reaching about 1.53M Thash/s but daily growth rate has kept down, even if the price keep the same and the reward decreases the energy efficiency will be increased to compensate for any waste of hashrate. In simple terms: less and more powerful miners.

The most important thing is that even if the hashrate declines, it will not compromise the security of the Bitcoin network. As to the Bitcoin price, it surged close to 20 percent. This is an indication that the halving event is regarded as a good thing for the Bitcoin industry and it is positively impacting the market even before it takes place.