MultiversX Tracker is Live!

In the future: Can large scale mining pools overpower smaller mining groups to change Bitcoins current ‘rules’ ?

Bitcoin Reddit

More / Bitcoin Reddit 85 Views

I’m still learning.. having little software background its a steep learning curve and certainly gaps in my knowledge.

As I understand, changing any core principles of Bitcoin would require a huge consolidated effort of miners to ~ all work on a branched off blockchain? ~ with their new plans..?

While this is described as largely impossible.. what if Bitcoin mining became a monopoly like everything else in the world? Until the a majority of miners were under one umbrella? Would that group not they have full control over how Bitcoin works?

Excuse my ignorance, learning what I can! Thanks

EDIT: Thanks for the comments.. I missed the fact that IF a mining company was big enough to make a change, they would have so much financial stake in Bitcoin that it would only hurt them to manipulate it !

submitted by /u/zzzzzz129
[link] [comments]
Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.



Comments