Author: Vincent Truong 2015-06-03 03:08:17
Published on: 2015-06-03T03:08:17+00:00
The email exchange between Vince and Stephen Morse revolves around the idea of changing the voting system for miners in Bitcoin. The proposed change suggests that votes need to be 100% rather than 50.01%, which would give small miners a fair chance. Additionally, users who make transactions should also have a vote. Furthermore, fee incentives should attract legitimate votes from miners while cheating miners will be defeated by another miner who includes those votes and takes the fees. Wallet providers and exchanges can cast votes, but few wallets implement prompts and instead just auto-vote, so users should switch wallets if they don't agree. The email exchange also mentions that it is a good idea to separate hard/soft fork upgrades and establish a process for the community to self-determine the way forward in a transparent and verifiable manner. However, some members of the Bitcoin community are hesitant about giving miners this much power as they are not the only ones affected by the choice of block size limit, so they probably shouldn't be the only ones with a vote. Instead, we vote with the software we run, and all upgrade. While the proposed change has its merits, it's unlikely to get enough support to be merged into Bitcoin Core.
Updated on: 2023-06-09T21:58:42.340591+00:00