51 sats \ 2 replies \ @premitive1 4 Sep 2022 \ on: What do miners control vs plebs? bitcoin
miners find proof-of-work which generates blocks. While hashing for proof of work, they add transactions from the mempool into the block they attempt to generate.
nodes listen for new blocks, and when they get them, they check the validity of those blocks, and if so found, they add that block to their chain and propagate that new block to the rest of their network.
Nothing else matters, so I won't address your third question.
I'm sure other people can chime in with more detail, but I base my answer on dozens of discussions on this very topic with various people from different backgrounds.
This describes how Bitcoin works.
What are the implications of that, from the perspective of controlling/changing things, enforcing KYC, etc?
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The vagueness of your sought-after conclusionons make it hard to reasonably address the question.
We can draw a bunch of implications. For instance, the only method for validating tranactions in Bitcoin requires miners to include transactions in blocks. People wanting to do bitcoin layer one transactions must submit a transaction to the mempool or to a miner for inclusion in a block.
Unrelated to the scope of what I wrote so far in this thread, private keys control/change UTXOs, through the mechanism explained above.
Therefore, one can imagine that if the person with private keys refused to, or it the miners refused to, cooperate to validate a transaction, it will never make it to the block chain.
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