If 50%+ of the miners demand higher block reward, they can change the protocol and mine on their own fork. The rest of the network will continue to use Bitcoin and the remaining miners will se their profit increase.
Or those 50%+ just refuse to add transactions to the block chain and will refuse blocks that contain transactions. That strike will continue until the demand is met. And since transaction fees are negligible amount they dont even loose any rewards worth mentioning.Yes, thats the way it works. The miners are basicly the share holders with the voting rights, not the owners of bitcoins.
