Quote from: fugohugo on November 26, 2018, 10:16:09 PM

Let say bitcoin price will reach 2000$, what will happen with miners? Will they afford to still pay electricity to mine it? And yes, is very strange the way bitcoin is mined now, with a lot of equipments who cost large amount to mine bitcoin. The difficulty will always increase and never goes down?

And what will happen when all bitcoin will be mined? How will confirmation work then?

Miners are a dynamic entity, they can shutdown anytime they want their rigs, difficulty also will react dynamically , so, price can go to 10 dollars, miners will react acordingly, they shutoff they rigs if is not profitable for them. But will never shut down all in the same time, it's a dynamic entitity. Me, i can use bitcoin same way at any price whatsoever, problem is that e-commerce industry cannot join this electronic cash system because of volatility. As the guy says earlier, manipulation can last forever, as long as 10mil bitcoins are owned by some small groups of people. If bitcoin goes to 100k, they still have 10mil bitcoins and they manipulate prices at any point in future.