One could imagine that, because some miners will stop mining, the market will get flooded with BTC less quickly. This might increase demand because there's less supply. Who knows how all of this is gonna play out.
To be honest, I hope the entire market will show a slow upward trend again soon. This long bear move is tiring.
To be honest, I hope the entire market will show a slow upward trend again soon. This long bear move is tiring.
Ahum, no. That's not how it works. Less miners doesn't mean less bitcoins produced. Let me do a quick recap for ya:
Every 10 minutes, a block is mined. REGARDLESS OF THE AMOUNT OF MINERS, it's every 10 minutes & offers the same amount of BTC.
So, if every 10 minutes a block is mined, regardless of the amount of miners, what DOES happen then if there are less miners?
The BTC is then shared among less miners, thus each miner makes more. Then it gets more profitable again too!
So: Supply stays the same (or increases some actually due to the mining, but that's not really significant given the great volatility of Bitcoin due to speculation).
Therefore, the price is dependent on the demand and not on the amount of miners! Everyone wants Bitcoins to sell them for more later on.