Author: ZmnSCPxj 2017-10-12 10:40:24
Published on: 2017-10-12T10:40:24+00:00
Hodlers have more power than miners in hardfork situations, but this changes when hodlers are evenly split between coins. Miners will prefer the coin with higher transaction fees, which can erode hodler confidence and lead to longer delays. The competition is in the real-world value of the total mining reward, not in the highest possible transaction fee that provides the greatest security. Every hardfork leads to shattering the community even further than it already is, and there is no need for further shattering. An emergency hardfork to a different retarget algorithm is not necessary, as hodlers have a significant amount of power over the destiny of a coin. Coins that are held will remain held, and are not part of the supply, while coins on the desired chain will remain high in price regardless of available transaction rate. It is far more likely that any hardfork that goes against what Core wishes will collapse, simply by Core developers acting in their capacity as hodlers of Bitcoin, without needing to do any special action in their capacity as developers.
Updated on: 2023-06-12T21:41:36.889787+00:00