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>The miners are incentivized to do whatever is best for the value of Bitcoin No they aren't. The miners are rational actors and incentivized to do what's best
by bduerst 11y ago
>The miners are incentivized to do whatever is best for the value of Bitcoin
No they aren't.
The miners are rational actors and incentivized to do what's best for themselves, not Bitcoin. The entire network is built on the premise that the miners are rational, and it has been demonstrated four times already.
Bitcoin is an example of how Tragedy of the Commons applies to digital networks.