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101 sats \ 2 replies \ @Fabs 20 May \ on: Mining Pool, Decentralization, and Network Security bitcoin
They could, but why would they?
After all, they're operating a large amount of specialized equipment that's produced to do only one thing: brute-force an applicable output as efficient, fast and often as possible.
If they were to undermine the confidence in the very thing they're making their living off of, then that'd be a very dumb move--- and a possibly expensive one at that.
I've never understood the angst for "mining pool centralization"; what are they gonna do? Censor transactions and blocks? And then? Fork off to a chain nobody's gonna use?
It's true that they wouldn't have to do it and it would be a stupid move, but doesn't history show us many absurd decisions?
If they had 51% of the network, they could even generate transactions at will, change the block rewards, or alter many of the things that are currently strengths of the network.
I don't think anything will happen, I'm just raising the question and presenting the information to spark debate. 😉
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but doesn't history show us many absurd decisions?
People are irrational, that I know, but one might hope that there's no total idiot running these mining operations--- then again, we've got megalomaniac clown's in some of world's most powerful positions...
If they had 51% of the network, they could even generate transactions at will, change the block rewards, or alter many of the things that are currently strengths of the network.
Oh no, they just outed themselves as the bad guys, what will the network do? 👀
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