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You should probably read the the whole post not just one part and then assume something I never said. The power is split between miners and user. A majority fr
by noxer 5y ago
You should probably read the the whole post not just one part and then assume something I never said.
The power is split between miners and user. A majority from both parties are required to determine where the network goes the rest are somewhat forced to follow. If no such majority can be found the network can fork and both chains can be profitable for miners.
I never said miners are in control, I disagreed with the parent who said users are in control - big difference.
- shawnz 5y agoWhat I am saying is that only users can determine which chain is profitable for miners. Miners only have a choice in the sense that they can choose to sacrifice profits on principle, which is not really a choice in the same sense as the kind of choice that users have.
- noxer 5y agoNo, this is wrong. And the reverse is also wrong. A user can chose by principle too and scarifies cost if he has to overpay to attract miners to that chain. Does that mean its "not really a choice"? No, its exactly what choice means. Also even at zero user if the token has value mining can be profitable. But anyway these edge-cases are irrelevant. There is and will never be a situation where all miners and all user chose a different chain. Just the fact that some miners are users at the same time makes it impossible. The only thing important is that power is shared between the 2 groups and its a constant fight because of different interests. Even without miners when its fully PoS there will still be misaligned interests between the parties (users, hardware operators, stakes etc.) Its an inherent flaw in the system because it relies on incentives which one party wants to maximize.