Author: Micha Bailey 2015-08-15 20:55:25
Published on: 2015-08-15T20:55:25+00:00
The author of a proposal to change the Bitcoin protocol speculates on potential consequences if the proposal does not receive enough hashpower support. If less than half or even 75% of the total hashpower supports the proposal, non-supporters may create blocks with the new version but not implement the rule. After the new rule is locked in, miners will create too-large blocks that are rejected by the majority, putting non-supporters on the losing side of a soft fork and causing them to lose money. Meanwhile, Milly Bitcoin raises concerns about censorship within the Bitcoin ecosystem, particularly in regards to any program that does not follow 51%+ hash power. This control over communication channels impedes progress in moving Bitcoin forward.
Updated on: 2023-06-10T19:43:18.320093+00:00