Post
Topic
Board Bitcoin Discussion
Re: What if someday Bitcoin Foundation votes to remove 21M limitation?
by
Eri
on 04/06/2014, 10:22:55 UTC
It is the miners who decide and if the economics of mining get too poor without block rewards that they are contemplating closing the shop they do have incentive to change things so that block rewards continue.

they control nothing, other non evil miners would step in and start mining, and things would continue, the lack of the other miners would reduce difficulty.

what your missing and not understanding is that before asics we had this issue on a daily basis. miners had a small profit margin and as the profit went to 0 for some of them they simply stopped mining. the rest who still saw profit kept mining. even now there are differences in profit for different miners. even if some are forced out there will be others who arnt. as miners leave the profit for others will go up. it ALWAYS reaches a natural balance.



as a few others mentioned, nobody can force this change. it would just make a fork which everyone would ignore. if they dont adopt the change then the change doesnt matter.