0 sats \ 1 reply \ @phaedrus OP 5 Sep 2022 \ parent \ on: What do miners control vs plebs? bitcoin
How Bitcoin works is not wishy-washy, but that's not what I meant by this question. I'm curious about the implications, ie miners can't change the protocol rules (hard fork) even if they have 100% hash power, but they can censor transactions. Is that an absolute statement? I'm not sure.
If 2017 taught me anything, that its really hard to predict what's gonna happen. Back then I thought the hard fork was inevitable since so many miners were behind it. It's easy to say it was obvious, but it wasn't to me at that time, so I'm curious to learn what else am I missing.
How about KYC? Who can enforce that?
Just like with drug laws. They can make weed illegal to use. But that doesn't mean there will be compliance with the law. With mass non-compliance, those laws either get repealed, or they stop being enforced, or if still enforced, enforcement simply occurs for the most egregious examples, or sporadically and publicized to make an example out of the unlucky target.
reply