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> 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. No. This isn't
by saurik 4y ago
> 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.
No. This isn't even remotely how the technology works. If the majority of the miners right now decide to start doing something different, they have simply excited the ecosystem. The existing network of users and clients will continue to use the remaining set of miners without having to do any active work to switch to them. In the mean time, the majority of miners that decided to go off in the corner and play their own game are going to start seeing defectors back to the "real" network they left behind as they are no longer making money mining as all of the new Bitcoin they are receiving isn't honored by any of the exchanges or stores or users until they convince people to start switching... a process that, for similar reasons of users wanting their transactions to be honored by other users, can't be done piecemeal. The miners simply don't have the power you claim they do.