Bitcoin has a captured user base of credit card fraudsters, ransom warers and ape thieves so I don't think it will go to zero; but the whole secondary eco system will inshallah burn out
What happens when 90+% of Bitcoin miners stop, though?
What happens when 90+% of Bitcoin miners stop, though?
Probably nothing. The difficulty will decrease and it'll continue churning a block every 10 minutes, just with a lot less electricity being used.
Would it matter at all that Bitcoin would be more vulnerable to e.g. 51% attacks?
I think it probably depends on whether or not that 51% attack materializes and what its nature is. I think if people were to be like "bitcoin mining capacity has dropped by 90% and there's a risk of a 51% attack now" then nothing would happen because nothing has happened. Look at how well we handle future risk today.
If the 51% attack was something targetted there might be a little fallout? Probably nothing though. Look at all the ethereum hacks over the years.
If the 51% attack was everyone losing all their bitcoin. Lol.
That's not how 51% attacks work. All they allow you to do is spend your own Bitcoin twice (or more than twice) and, in a similar vein, block any transactions you don't like.
I feel like the type of person to leave FAANG for Coinbase is probably a huge CHUD. I can't help but laugh that a bunch of them got owned, even if 99% of them will land on their feet.
