Consider Bitcoin Price goes down to $3000, what will be the effect on miners (will they stop mining) and the affect on difficulty to mine a Bitcoin?

Consider Bitcoin Price goes down to $3000, what will be the effect on miners (will they stop mining) and the affect on difficulty to mine a Bitcoin?

Over a set period of time (around 10 mins for BTC), a number of transactions are compiled into a block by a miner, and then the block is verified on the general ledger and added to the list of blocks which make up the blockchain.

Consider the price of Bitcoin goes down to $3000, will this effect Mining operation go on?

What actually going to happen to the difficulty of solving problems in mining?

Thank you in advance.

Regards,

Raghu Ariga

http://ift.tt/2nhwck8

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