Re:Bitcoin Sinks to $41,000 Amid ‘Extreme Fear’
by ac29 on Friday January 07, 2022 @12:23PM
(#29841833)
The number of miners doesnt effect the price, its the other way around.
Remember, for each block, only a single miner actually conducts the work of the network. Every other miner just throws away its work and starts trying the next block. There would be no difference in performance or network capacity if 99.9999% of miners went offline (so long as it didnt happen all at once, since difficulty doesnt adjust every block).
Remember, for each block, only a single miner actually conducts the work of the network. Every other miner just throws away its work and starts trying the next block. There would be no difference in performance or network capacity if 99.9999% of miners went offline (so long as it didnt happen all at once, since difficulty doesnt adjust every block).