Re:Bitcoin Sinks to $41,000 Amid ‘Extreme Fear’
by dustintrex on Friday January 07, 2022 @10:03AM
(#29839883)
The difficulty of mining the next block is a function of the hash rate. Miners quit, hash rate goes down, it becomes easier to mine the next block.
That said, the "price" (in USD) is a function of supply and demand and is completely disconnected from this. The price of a BTC could drop to $1, and mining would still work fine.
That said, the "price" (in USD) is a function of supply and demand and is completely disconnected from this. The price of a BTC could drop to $1, and mining would still work fine.