>If the majority of miners agree to it then the rest of the network either goes along with it, or they're forced to do a hard fork themselves. The only the has

>If the majority of miners agree to it then the rest of the network either goes along with it, or they're forced to do a hard fork themselves. The only the hashrate attacks can do is alter the order of transactions (for example allowing them to replace their past transactions and double-spend). They cannot change the way in which users interpret blocks (for example, they cannot spend another user's outputs, change the value of a given output such as a coinbase output, or otherwise alter the tokenomics). I recommend watching 3blue1brown's video: https://www.youtube.com/watch?v=bBC-nXj3Ng4 https://www.youtube.com/watch?v=bBC-nXj3Ng4 >For the end user just trying to make a payment, it's irrelevant whether it's intentional or not, either way he is now faced with the spitting of his coins and the resulting chaos. Any reasonable vendor will wait for X amount of blocks to pass before accepting a transaction. You're describing a well known vector called a "Finney Attack", which becomes exponentially less likely for every block you wait. >What's the actual value of a bitcoin? There just isn't one. Take the number of pizzas that are being sold for bitcoins, and divide that by the number of bitcoins in circulation. I think you may find that the value of BTC/Pizza has not changed much over the last decade. I mean, what is the actual value of a dollar. It is not like we use the gold standard anymore. The dollar is valuable because it is a connected to a useful payment system. You don't mind holding some liquidity in US Dollars because you have an expectation that you will be able to spend your dollars somewhere in the near future, not because you trade it in for shiny yellow ingots.