Re:Ethereum will use around 99.95% less energy post merge
by incrudible on Tuesday May 18, 2021 @04:07PM
(#27200328)
Not in principle, but I do believe this to be the case for Bitcoin specifically. Network majority is distinct from minor majority, but obviously miner (or stakeholder) majority is an extremely important part of it.
Re:Ethereum will use around 99.95% less energy post merge
by jasode on Tuesday May 18, 2021 @04:15PM
(#27200413)
>Not in principle, but I do believe this to be the case for Bitcoin specifically. Network majority is distinct from minor majority, but obviously miner (or stakeholder) majority is an extremely important part of it.
In 2017, the majority of miner hashpower wanted to change the Bitcoin protocol to increase 1MB blocksize to 2MB but the SegWit2x failed to be adopted. What's your interpretation of that event?
Re:Ethereum will use around 99.95% less energy post merge
by incrudible on Wednesday May 19, 2021 @08:22AM
(#27207588)
They signaled support for it, but when push came to shove, they bailed.
I'm not saying 51% of miners decide what the rules are. Suppose you had a Bitcoin fork that had 80% of the hashrate. How long would that situation need to persist until the major network participants decide to call that fork "Bitcoin"?
I deleted a previous reply to you because I think I may have misunderstood what you wrote. In any case, are you saying the majority of miners have the ultimate control of the protocol rules of the cryptocurrency?