Post
Topic
Board Beginners & Help
Re: Shutting off bitcoin mining ?
by
wheatstone
on 09/04/2013, 11:06:13 UTC
[If nobody is mining there is no way to store transactions, so you cannot buy any bitcoins

Not only would you not be able to purchase any bitcoins, you would not be able to make ANY transactions involving bitcoins (on the blockchain, anyway).

"Mining" is the method by which bitcoin transactions are recorded on the blockchain. Any transaction that is NOT recorded on the blockchain is unconfirmed and should not be regarded as final.