Is there enough power throughout the rest of the world to keep bitcoin running and confirming?
Confirmations would slow down for a while (more than 10 minutes average between confirmations). Then when we reached the next difficulty adjustment period (every 2016 blocks), the difficulty would be reduced and everything would continue normally once again.
How hard would it be to get caught up though? I understand that it would slow down, but it is an arm and a let in order to get into mining right now with the difficulty at this point. I think that it would be harder to get into mining and catch up or would mining become easier?