What will happen to bitcoin when there is not enough computing power to mine?

Question

Cryptography

Already now, for many owners of mining machines and those who want to buy them, the reward for mining will eventually fall below cost. At a minimum, this occupation will become unprofitable for those who live in countries with expensive electricity. What will happen next and what will happen to Bitcoin when the computing power is simply not enough for mining?

Answer 1

If mining is not profitable in terms of electricity costs, then the miners can introduce a commission for transactions. Now each miner receives a fixed amount for each signed block of data - 25 BTC [1] . But the user who makes the BTC transfer can, at his discretion, transfer part of the amount to the miner who will do the Proof of work. See [2]

Reward
When a block is discovered, the discoverer may award themselves a certain number of bitcoins, which is agreed-upon by everyone in the network. Currently this bounty is 25 bitcoins; this value will halve every 210,000 blocks. See Controlled Currency Supply.
Additionally, the miner is awarded the fees paid by users sending transactions. The fee is an incentive for the miner to include the transaction in their block. In the future, as the number of new bitcoins miners are allowed to create in each block dwindles, the fees will make up a much more important percentage of mining income.

Another option is to combine many computers into pools that will not mine for their own benefit, but in order for the Bitcoin network to exist. For example, there is the [email protected] project , whose participants donate the power of their processors and video cards to calculate the process of protein folding. Why don't Bitcoin users unite in the same way?

Answer 2

difficulty will decrease

Answer 3

They will drive what they have. Since bitcoins are quite divisible, this will not be a problem.

Answer 4

Mining difficulty is recalculated every 2016 blocks in such a way as to ensure that a new block is found approximately once every 10 minutes :
https://en.bitcoin.it/wiki/Difficulty
difficulty increases -> probability of finding a block decreases -> profitability of mining decreases -> some miners stop working -> blocks start to be found less often -> difficulty decreases -> mining becomes more profitable.