Re: if the number of transactions doesn't pick up by 8/16 miners will have to quit
The block reward is scheduled to be halved on around august 2016.
when that happens unless the amount of transactions fees rises to compensate for the reward drop,
mining will become unprofitable and the hash rate will drop rapidly.
what can be done to prevent this
when that happens unless the amount of transactions fees rises to compensate for the reward drop,
mining will become unprofitable and the hash rate will drop rapidly.
what can be done to prevent this
i assume you mean network hash rate... if it drops, then opportunities open up
for more miners and we reach a new equilibrium. I dont see the problem.