What would happen if a entity owns 51% of the nodes? \ stacker news ~bitcoin

What would happen if a entity owns 51% of the nodes?

123 sats \ 13 comments \ @Bitcoiner1 24 Feb bitcoin

Hi, this question was asked yesterday in an event in my city and we were not able to find a good answer, so I'm here to learn from the SN community.

In the scenario where 51% of the validators node were owned or controlled by the same entity, this could be a big corporation or a Estate. How this could affect the health of Bitcoin?

Can this big player impose new rules on the rest of the nodes?

Can this big player ban txt? Or validate and broadcast the txt that they want?

We know that this is a very unlikely scenario...but, just wandering about it.

Thanks 🙏 and enjoy the weekend!

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21 sats \ 3 replies \ @btcthinker 24 Feb

It doesn't make any sense, it's just nodes owned by an entity. That would not be group consensus. Many shitcoin nodes are built by the same entity on Amazon servers. Bitcoin has no shortage of nodes, doing so is just a waste of money.

0 sats \ 2 replies \ @AJ1992 24 Feb

Referring to other cryptocurrencies as shit coins just makes you look like a cult member man. You pick that up from Darth, the big bully? You only insult what you don't know and you hate on other cryptocurrencies that have innovated and adapted to do things better than bitcoin's blockchain. Your cult fails to realize Bitcoin isn't perfect and flawless and it's blockchain can and MUST improve and evolve. Why are you so opposed to looking at any other cryptocurrency's blockchain and admitting that it's more efficient and innovative? Why are you so against Bitcoin having competitors and competition in the market? I know, because you're afraid and you're scared of being wrong. Thats sad.

0 sats \ 1 reply \ @btcthinker 24 Feb

Scam is not innovation.

Characteristics of shitcoins:

There is no upper limit on coin issuance.
The coin distribution is not fair and the creators retain a large amount of the coin.
The newly generated coin is given to the holders of the old coin.
Only specific entities can participate in the node.
Decentralization is a good idea, and a decentralization I can control is a better innovation.
Trust me bro.

0 sats \ 0 replies \ @AJ1992 24 Feb

Except you're generalizing and calling other cryptocurrencies a scam (some of them are) because of the few bad apples once again shows your fear. You want Bitcoin to be/stay a monopoly because you're invested into it. Your self interest is causing too much bias and because of that you can't see the positive qualities of any other cryptocurrency even though their blockchains are more efficient, less expensive, and more inclusive. Which by the way, Satoshi wasn't advocating for a monopoly nor were they saying Bitcoin is only for certain people. Bitcoin was created for everyone. That was Satoshi's dream and Satoshi would be for evolving to make Bitcoin more inclusive for everyone.

21 sats \ 0 replies \ @RocketNode 24 Feb

Nothing. Miners dictate the blockchain and many miners accept tx directly.

0 sats \ 0 replies \ @go 24 Feb

This would be much cheaper than 51% of the asics

0 sats \ 6 replies \ @DarthCoin 24 Feb

From 9 years ago... https://yewtu.be/watch?v=ncPyMUfNyVM ... if they can sustain it more than 10 min...

0 sats \ 5 replies \ @Bitcoiner1 OP 24 Feb

But this explanation is about the miners not about the validators node. As far as I know, they have different functions.

0 sats \ 3 replies \ @DarthCoin 24 Feb

maybe you will understand with a simple meme

if you still do not understand it... sorry but bitcoin is not for you.

0 sats \ 2 replies \ @AJ1992 24 Feb

This is the issue with you cult-like Bitcoin maxi's. Do you really think Satoshi Nakamoto would be against improving and bettering Bitcoin? Why are you so scared of change when Satoshi wasn't? Satoshi gave us this change in society and the way society can barter! You really think he/she would be against bettering and improving bitcoin if they looked at what other cryptos have done/are doing? Satoshi couldn't imagine the countless other cryptos and their blockchains, as no one could imagine Satoshi's idea when it was introduced. How would someone that introduced such a major change be against making it better by adapting the model and evolving with the times?

You're completely clueless and you give all of us who are reasonable Bitcoin users a bad name. Satoshi wouldn't just shame and insult anyone that didn't agree with their viewpoint either. Get it through your thick skull.

0 sats \ 1 reply \ @DarthCoin 24 Feb

ou give all of us who are reasonable Bitcoin users a bad name

LOL you name yourself a bitcoiner? hahahahaha as I said the worst that could happen is a shitcoiner pretending to be a bitcoiner. GTFO scumbag.

0 sats \ 0 replies \ @AJ1992 24 Feb

You think you're the leader of all the people who use or hold Bitcoin, what's the difference? I guess we are both delusional.

0 sats \ 0 replies \ @AJ1992 24 Feb

Darth is clueless and nothing short of a bad apple. He gives all Bitcoin users a bad name and is a narcissistic bully. Don't mind him. He's too immature to realize how stupid he looks to everyone else.