Can't miners increase the block reward?

BadBear

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Quote from: jonald_fyookball on March 31, 2014, 12:19:55 AM

I believe that would require really foundational source code changes and would cause a fork, meaning it would become a different blockchain...it would no longer be bitcoin.

This is correct, the people running that code would have essentially created an altcoin that would be ignored by the bitcoin network.

jonald_fyookball

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Core dev leaves me neg feedback #abuse #political

Quote from: skooter on March 30, 2014, 11:15:26 PM

Like, if miners that control > 50% of the hash power come together and decide they want to increase the reward per block mined to 100 BTC, couldn't they do that?

Since it's all peer to peer they could just change the software to accept that.

I believe that would require really foundational source code changes and would cause a fork, meaning it would become a different blockchain...it would no longer be bitcoin.

The best way for this never to happen is we need more mining pools

seriouscoin

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Quote from: skooter on March 30, 2014, 11:15:26 PM

Like, if miners that control > 50% of the hash power come together and decide they want to increase the reward per block mined to 100 BTC, couldn't they do that?

Since it's all peer to peer they could just change the software to accept that.

Can you please fcking spend time on reading bitcoin wiki b4 making stupid thread?

Go read on how 51% attack works.

nazban

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Unfortunately miners or peers on the network have no control over the amount of coins generated per block. But if you know who does have the power to do this might be a bit scary.

justusranvier

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No.

skooter

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Like, if miners that control > 50% of the hash power come together and decide they want to increase the reward per block mined to 100 BTC, couldn't they do that?

Since it's all peer to peer they could just change the software to accept that.

Topic: Can't miners increase the block reward? (Read 672 times)