Quote from: mikeywith on Today at 05:16:51 AM

Quote from: Franctoshi on Today at 01:26:55 AM

It will be nice if you further state more reason you think so about why the price isn't going to increase and go to zero, does it mean that Bitcoin cannot work without miners?.

I do NOT think the price is going to zero, my statement was:

Quote

but if they were to magically stop all miners from mining forever, then BTC will not increase in price, it will go to zero

The keyword here is "magically stop all miners" because it will be impossible to do so, 1 old PC sitting somewhere in the dark can maintain the network on its own, the operation of mining does not need all the hashrate it has now, more hashrate does make bitcoin more secured but again even an old Nokia mobile can do the trick, so stoping all BTC mining operations isn't feasible, but if we were to 'hypothetically' assume it happened -- then nobody will be able to transact BTCbecause the transactions need to be put into blocks created by at least 1 miner, and thus, having bitcoin in your wallet will be no different than having 1 billion dollars in your wild dreams, none of these assets have any value in real life.

For this to make sense to you, you need to read about bitcoin mining and difficulty adjustment, once you fully understand that mining bitcoin can "at least" in theory be done with a pen and paper, you will understand that banning it completely is something beyond any government's ability.

I’ve agree, with your points.