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I don't accept this assessment of how Bitcoin's consensus fundamentally works. Yes, anyone can fork the code, but consensus comes only when the miners choose a
by gregknicholson 8y ago
I don't accept this assessment of how Bitcoin's consensus fundamentally works. Yes, anyone can fork the code, but consensus comes only when the miners choose a fork.
As far as I can see, there's no significant incentive to mine other than money, so miners want money, so you can persuade them with money.
The "consensus" is fundamentally an auction.
- seth__ 8y agoUnless people really use bitcoin to pay for stuff. Then, whatever token can be exchanged for something of value is the one everyone wants, doesn't matter if the miners fork
- RugnirViking 8y agoUnfortunately bitcoin becomes steadily less useful for actually using and paying for stuff as time goes on. Back in the day, it could be used on amazon, buy a coffee etc. Now its just a bizzare experiment in markets without consumers.
- buboard 8y agoyep and therein lies some power. There have been a few wars within bitcoin already. In the real world, people would have died. In the coin world, people just voluntarily chose different pastures.