Post
Topic
Board Bitcoin Discussion
Re: Stop fuckin' around, fork the son-of-a-bitch already.
by
exstasie
on 15/09/2016, 01:44:52 UTC
Yes, it's about all bitcoin users, but the majority of Bitcoin users will follow that chain which has the greatest consensus among developers and miners.

FTFY. That's the point -- a miner-induced hard fork is leveraging users' fear of being on the "minority chain." It leverages an apparent monopoly on hashpower (confirmed transactions) to make users' decision for them. Users will migrate whether or not they agree to the changes out of fear of economic loss.

The only ethical way to hard fork is to allow support to amass organically. That means forking without miner coordination. If users truly do consent to the fork changes, they will migrate to the new system. Miners will follow based on rational incentive.

But using miners to provoke the fork in the first place turns Bitcoin's incentives on its head. Hash power follow users. Not the other way around.