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> just fork the chain and move on It's not quite that simple - the chain will need to be forked with a protocol whose algorithm doesn't allow these miners to c
by jMyles 9y ago
> just fork the chain and move on
It's not quite that simple - the chain will need to be forked with a protocol whose algorithm doesn't allow these miners to continue to dominate. And achieving consensus on that in the heat of the moment will be non-trivial.
Any fork that continues to use SHA-256 will be a trivial target for attack by these miners; they won't blindly continue to mine the "defunct" chain.
- down 9y agothe bitcoin gold algorithm, achieving consensus will be possible, because is a threat to bitcoin existence (user activated), won't be "that simple" but will be another attack and bitcoin will emerge stronger.
- darawk 9y agoYa, it'd cause some short term disruption, to be sure. But it's not an existential threat. And it certainly doesn't make Bitcoin 'centralized'.
- homakov 9y agoThere are more than 1 variable in the outcome. And from what I see it is very existential. Just not used yet.