What would happen if all these large mining farms just up and quit business? They have allow of money in bitcoin and all, but what if one of them decided to try to pump the price and then just stopped mining, or just stopped mining for some reason. Is there enough power throughout the rest of the world to keep bitcoin running and confirming?
this is the strangest question i have seen in ages, its just daft. if a large miner stopped their would be another 10 smaller miners to take their place.
Since the halving, i have seen the transactions took a lot of time to be confirmed. And it is due to the fact that the mining reward is halved from 25 to 12.5. and miners have found it now less profitable to mine the bitcoins.
I wonder what will happen in the future when the mining reward will be further reduced to half of what it is now ?