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by jstanley 3178 days ago
Incidentally, in Bitcoin, large mining pools do not have control over the consensus rules. It doesn't matter what the miners say, their chain is worthless if people refuse to run it.

In Bitcoin, the economic majority decides what is Bitcoin. And when there's a substantial disagreement (e.g. BCC) there's a fork.

Large mining pools have no more power to enforce consensus rule changes on others than anybody else does.

1 comments

Miners can attack rival chains with the same PoW -- so they do have some extra power over "similar" chains.
Attacks that cost them money to the tune of millions of dollars. Sure they can do it but it's not free.