Post
Topic
Board Bitcoin Discussion
Re: Happy 2nd Anniversary, SEGWIT!
by
squatter
on 18/08/2019, 17:00:17 UTC
Bitcoin is centralized due to the Mining Nodes decisions to Pool over 51% to only a few pools.

Tell us, why isn't Bitcoin being constantly 51% attacked?

As if their were no pooling, then a mere 4 guys would not control bitcoin.

As I recall, a super majority of hash power signaled support for SegWit2x. It was also supported by the biggest companies in the space, including Bitmain.

Why did they all back out and stop supporting the 2x hard fork?

Now if Coinbase has an issue with a block the miners will take notice, but you , no one cares.

It sounds like miners don't really control the network at all, do they? What do you think will happen to Coinbase -- legally, and in terms of market share -- if they replace their customer bitcoins with an altcoin fork? The exchanges will let the market decide, not the miners. That's been the precedent since 2017.

At most, the miners can reorganize blocks or censor transactions -- incurring great financial cost for the privilege. How is that "controlling" the network?