Post
Topic
Board Bitcoin Discussion
Re: Bitcoin Exchanges Unveil Emergency Hard Fork Contingency Plan
by
Lauda
on 18/03/2017, 14:19:10 UTC
Exercise:
1) suppose ALL miners agree upon 4 MB blocks, even though all users want to have 1 MB blocks.  The miners only make one chain, with 4 MB blocks.  What are users and nodes, including exchanges, going to do ? 
Emergency hard fork PoW change -> all miners are fired and all their gear is effectively useless.

2) suppose that ALL miners agree upon 1 MB blocks, even though all users want to have 4 MB blocks.  The miners only make one chain, with 1 MB blocks.  What are users and nodes, including exchanges, going to do ?
Same as above if needed.

Both situations are a hostile takeover.