4 ms·
You should know that control over bitcoin is given to those with more than 50% of the total hashing power and this is not really equivalent to 50% of the users.
by codexon 12y ago
You should know that control over bitcoin is given to those with more than 50% of the total hashing power and this is not really equivalent to 50% of the users.
- ende 12y agoRight. I believe there are a few bitcoin derivatives (or unrelated blockchain currencies) that do denominate control by the number of users, though?
- codexon 12y agoAnd just how do you prove each user is tied to 1 person as opposed to one elite running a million copies? You can't.
- oafitupa 12y ago50% of the total hashing power only gives you certain powers, and certainly not "control over Bitcoin". For instance, you can't change the protocol any more than you could without the hashing power. The economic majority controls Bitcoin, not the miners alone. Have you even heard about nodes?