Author: Adam Back 2015-11-14 09:31:18
Published on: 2015-11-14T09:31:18+00:00
The discussion revolves around the difference between miners signaling intent and a 95% miner majority consensus rule for a hard-fork in Bitcoin. While the former is mostly informational only, the latter implies something that is not entirely accurate as it requires more than just a miner upgrade for basic safety. The community needs to talk and upgrade together for a hard-fork to be successful, which includes users, ecosystem companies and miners. The economy is what matters in a hard-fork, not just the miners. Devs have even less of a choice in the matter. The best approach is a flag day that gets called off if there isn't clear consensus. Miners signaling their intention affects the decision of the economic majority, but vote polling results can be misleading. The public vocal opinions of any part of the Bitcoin economy can sway the opinions of the other parts.
Updated on: 2023-06-11T01:05:02.450344+00:00