Bitcoin miners exiting would only result in 'delay in block issuance'

Towards the end of 2018, one of the major points of concern the Bitcoin market along with its price slump was something known as the “Bitcoin mining death spiral.” In December 2018, Andreas Antonopoulos explained this unlikely-to-happen phenomenon as 50 percent of miners exit the network, resulting in a drastic drop in hash power. This would lead to the block being issued every 20 minutes rather than 10 minutes, resulting in mining difficulty re-targets being pushed to four weeks instead of two weeks.

According to him, this would further be followed by,

“[…] if that happens, then a lot of miners will [leave]; [that they will say], ‘I’m not making enough profit anymore because things are moving a lot slower. I will turn off my mining [equipment],’ which then causes [hash rate] to drop even further. [That makes block issuance even] slower, which cases [more miners to drop out] […] difficulty never adjusts” Read More...


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