Noob question.

Hi guys. I’m new at this and trying to get my head around how mining difficulty works

Hypothetically speaking, at this point in time, if every single miner turn off their computers, and there was only say 100 miners left, would transactions still go through and be confirmed?

Or does Bitcoin, being over 10 years ago, now rely on lots of mining power for it to work?

With the halving come up, I’m trying to get my head around whether price will rise or fall. If profitably decreases and the network still requires lot of mining power, surely this is a very bad thing for the future of Bitcoin. If it can run on a small amount of miners, and those miners make a lot of money, Bitcoin will never die.

Please let me know which one is correct. Thanks

Submitted September 18, 2019 at 09:47PM by CryptoMainac http://bit.ly/2QducuN