3 ms·
If a majority of full nodes (validators) reject blocks from those miners, their chain will be orphaned and the block reward will fall to the subsidy they've cre
by martindale 8y ago
If a majority of full nodes (validators) reject blocks from those miners, their chain will be orphaned and the block reward will fall to the subsidy they've created for themselves (where block_reward = block_subsidy + block_fees).
Bitcoin has value because this just isn't possible, in practice.
- schmichael 8y ago> just isn't possible It's absolutely possible. Who runs nodes? There's no way to know that the majority of hash power doesn't already control a majority of nodes.
- martindale 8y agoAs long as you run your own node, it doesn't really matter who runs the rest. If a peer relays an invalid block to you, disconnect from that peer and defer to the chain with the most work. Have you read the paper?
- schmichael 8y agoIf a block is accepted by a majority of nodes and miners it isn't invalid. Your own personal node is free to implement different logic, but it will be unlikely to interact in a functional way with the rest of the network.
- martindale 8y agoThe full node operators are typically holding Bitcoin, and I just don't see anyone willingly accepting a reduction in the value of their assets. Any such block would be viewed as an attack on their sovereignty.
- wp381640 8y agoThere is a way to know since segwit was activated using a user activated soft fork despite not having a majority of miner support Node control has worked in both theory and practice