Post
Topic
Board Bitcoin Discussion
Re: satoshi mining alone
by
Casdinyard
on 21/07/2024, 23:59:35 UTC
when Satoshi started the bitcoin (blockchain) and he was mining alone ig, was he mining all the time? Cause if he stopped and nobody mined how was bitcoin able to continue to create blockchain

Is there solution for event where nobody would mine some coin?
I don't think Satoshi's the only person that was mining when bitcoin was released. They had cohorts and companions who he gave access to mine for testing purposes such as those listed by Mia Chloe, and furthermore, it was not through mining that he was able to create the blockchain metaphorically speaking, it was through people holding it one after another, until such a time occurred where everyone just agreed bitcoin's this valuable (which it is), and made mining the gold mine that it is now.

As a bonus, I don't think bitcoin's gonna die soon as everyone stopped mining, even if there comes a time where people just got tired of mining and stopped altogether even before all bitcoins are gathered. We have a lot of coins in circulations, approximately 3/4ths if I'm not mistaken, we can cycle that amongst ourselves and effectively create an economy which will definitely diminish bitcoin's monetary value, but at the very least it would make bitcoin a full-fledged currency that will stand the tests of time, so long as there's internet of course.