you are a hobbit, they are dwarves. "don't trust the miner dwarves!!"
Topic: Why do you trust the miners? - page 2. (Read 3083 times)
lol you described them like they were another species
you are a hobbit, they are dwarves. "don't trust the miner dwarves!!"
you are a hobbit, they are dwarves. "don't trust the miner dwarves!!"
Additionally, all of the users of bitcoin would have to change the rules too, otherwise the 'fake' blocks wouldn't be accepted, and the miners would have forked bitcoin into another currency.
You don't need to trust the miners, unless a single miner/pool has over 50% of the network power. They cannot just "change the code" since the changes would be rejected by the rest of the network.
After the initial adoption of the currency miners have an incentive to change the protocol in a way where mining produces more coins.
False. Why would they want to turn gold into shit, literally?
If I understand the present set up the majority of the computing power that's provided by the miners decides about the way the network operates.
At the present you think that coin production through mining will magically stop in the future because it's written into the protocol.
After the initial adoption of the currency miners have an incentive to change the protocol in a way where mining produces more coins.
Why do you believe they won't?
At the present you think that coin production through mining will magically stop in the future because it's written into the protocol.
After the initial adoption of the currency miners have an incentive to change the protocol in a way where mining produces more coins.
Why do you believe they won't?
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