Quote from: DOGE12321 on June 19, 2017, 05:11:36 AM

Quote from: DannyHamilton on June 07, 2017, 05:43:36 AM

Quote from: DOGE12321 on June 07, 2017, 05:16:50 AM

As block reward decreases, miners will be dependent on transaction fees to suffice for their electricity costs. By then, if the price of Bitcoin isn't high enough, it will lead to a further reduction as miners abandon their business because of the lack of profit.
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Further reduction?

Further reduction in what? Why would it matter if some miners abandon their business?

If a sufficient amount of miners leave the Bitcoin network, then there would not be enough to confirm pending transactions and mempools would grow massive. This isn't efficient.

No because the bitcoin network readjusts the difficulty regularly so that there is always roughly the same number of blocks generated each day. The only thing required to deal with the overflowing mempool is bigger blocks, the number of miners is completely irrelevant.

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