Post
Topic
Board Beginners & Help
Re: Help me understand some specifics of mining, difficulty and price movements.
by
torusJKL
on 08/10/2014, 04:04:49 UTC
[...]
Bitcoin farms will be unplugged. No more bitcoins but users still trading. So more users want bitcoin but less are being produced.
[...]
The network adjusts itself to always create a new block every 10 minutes.
Should suddenly allot of miners be shut down then the difficulty would go down as well.

Mining is not just here to create new bitcoins.
Without mining there would be no new blocks and thus you would not be able to send or receive bitcoins.