Post
Topic
Board Bitcoin Discussion
Re: Is it possible that number of miners will decrease for a while?
by
avikz
on 11/05/2020, 14:49:03 UTC
With the recent halving of block rewards, the incentive will be lower than previous for miner. On the other hand, the cost for them will still be same which may not be profitable for a while (I'm not sure about this). If it is true, is it possible that some miners will just leave mining for a while until they get back in a equilibrium or in profit? What fo you think?

There is high possibility of it happening. Mining is a costly business to start and it also needs a good amount of recurring cost to maintain. So if bitcoin price isn't increasing now, a lot of small miners will be forced to leave mining because it will be cheaper for them to buy bitcoins from the market instead of mining it.

However, we haven't seen any signs of it. Let's keep a close watch on the situation. It seems bitcoin won't disappoint the miners.