Post
Topic
Board Bitcoin Discussion
Re: f2pool not supporting roundtable was Re: 「魚池」BTC:270 Phash/s - LTC:500 Ghash/s - New Server in U
by
windpath
on 26/02/2016, 22:50:57 UTC
It's about time to end this close-door roundtable consensus process.
Complete goes against Satoshi's consensus-forming process.

wrong. satoshi's "consensus-forming process" is PoW a.k.a. hashpower. what we are seeing now is nothing else than the miners trying to find a mutual solution before they make eventually use of their power, which is totally fine and a sign of respect.

Miners have little to no power in Bitcoin.  If you insist on hanging around and opining, you really should lean how all this stuff works.

Here's a good place to start:

http://hackingdistributed.com/2016/01/03/time-for-bitcoin-user-voice/

Quote
It is a common misperception that Bitcoin miners determine the shape of the blockchain. So common, in fact, that I had an academic colleague fall into the same trap, where he thought miners could arbitrarily decide to mint 1 million coins for themselves.


If the majority of hashpower agreed to do that via a hard fork protocol change then it would happen. The thing is the miners have invested a lot in bitcoin, and by changing the coin distribution they would destroy bitcoins value, soooo, not gonna happen.

Changing the block max size on the other hand, would have no such effect.