Post
Topic
Board Development & Technical Discussion
Re: How would it be know if a segwit thieft actually happened?
by
ManaMan
on 09/02/2018, 20:16:13 UTC
Example:

You're trying to buy a GPU from EggsRUs. You send BTC. Unbeknownst to you, the big mining pools have changed the rules to give themselves a 2100 BTC block reward every block forever. (Purists are calling the pools' coin MinerCoin.) Eggs, being a merchant, knows about this inflationary change - and doesn't like it. Your transaction quickly confirms on MinerCoin, but Eggs isn't looking for it on that chain. A rag tag collection of miners are still on the legacy chain. Eventually, your transaction does confirm on the legacy chain. With some delay, you get your GPU. At some point, the big pools attempt to cash out their new found riches, but alas, nobody with real money on the line will accept their coins.

TLDR summary: Users transacting real value determine which fork has value.

I understand this situation - it could fork if they wanted to tweak and price would crash.
And that is exactly why I wrote what I wrote in the first place this:

It doesn't matter if your node will reject it, I think that you forgot that miners have complete power and if you are not mining there is not much you can do. Miners are the ones who control the network I mean we should say mining pools as mining solo is not what we want. Anyway I think if this happens however we will see that BTC price will dump since people will not have faith in it due to mining pools living to their own terms and thus it would drastically decrease profit from miners.

The real question here is are they really ready to go that far to hurt BTC in a way where they will lose potential profit? I think not.

They certainly have the power over the network, the outcome of it is another story. Just this dude said I am wrong so I wanted to make sure where I was wrong plus I don't see that what I said is incorrect info...