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?
Your thread title is a bit misleading.
I thought that bitcoin mining really stopped.
It won`t be a disaster if bitcoin mining stops.Bitcoin will continue to exist.
Well, it would be a bit of a disaster, without any mining there would be no network and no transactions. So apart from not being able to send or receive at all ...
Assuming it still exists by then even after the last bitcoin has been generated, mining will still be required to generate new blocks and confirm transactions it is simply that the blocks will have no coinbase reward.