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There is an obvious misconception in the title; two in fact: 1. If you are saying that investors separate from miners have "control" over Bitcoin, then you are
by mattwilsonn888 5y ago
There is an obvious misconception in the title; two in fact:
1. If you are saying that investors separate from miners have "control" over Bitcoin, then you are strictly talking about the price and not the protocol. Investors (who are not miners, so no point in mentioning them) have zero influence over the Bitcoin protocol on a technical level. Perhaps you could make a separate argument about manipulating the community.
2. Barring the previous misnomer, miners alone do not control the Bitcoin protocol. Miners in combination with full nodes (running a full node requires a relatively tiny investment compared to mining) control the future of the Bitcoin protocol. Miners may choose to go down a certain protocol or ledger altering fork, but if even a small amount of full nodes go a different direction and users/holders follow the full nodes, then the path the full nodes chose will "win out," or at least survive.
If you want to talk about investors controlling crypto currencies at any scale, then look towards proof of stake. Otherwise you are conflating price control and protocol control.