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This is a good article, that hopefully can lead to some insightful discussions. One thing the article or some people interpreting the article miss is that mine
by kerng 5y ago
This is a good article, that hopefully can lead to some insightful discussions.
One thing the article or some people interpreting the article miss is that miners actually don't control the future of bitcoin as much as they think.
From 2017 we actually know that the people running the nodes have more power then the big miners - because the biggest miners back then were not able to push the protocol changes (like block size) through - because nodes just didnt validate/accept those new blocks. So in the end the end user decides.
This is true for changes to the protocol or code, it is not true for doing fraudulent transactions within the current protocol version. So colluding miners can have impact in that realm I'd say.