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Title: Can't miners increase the block reward? Post by: skooter on March 31, 2014, 04:15:26 AM Like, if miners that control > 50% of the hash power come together and decide they want to increase the reward per block mined to 100 BTC, couldn't they do that?
Since it's all peer to peer they could just change the software to accept that. Title: Re: Can't miners increase the block reward? Post by: justusranvier on March 31, 2014, 04:23:58 AM No.
Title: Re: Can't miners increase the block reward? Post by: nazban on March 31, 2014, 05:08:10 AM Unfortunately miners or peers on the network have no control over the amount of coins generated per block. But if you know who does have the power to do this might be a bit scary.
Title: Re: Can't miners increase the block reward? Post by: seriouscoin on March 31, 2014, 05:17:51 AM Like, if miners that control > 50% of the hash power come together and decide they want to increase the reward per block mined to 100 BTC, couldn't they do that? Since it's all peer to peer they could just change the software to accept that. Can you please fcking spend time on reading bitcoin wiki b4 making stupid thread? Go read on how 51% attack works. Title: Re: Can't miners increase the block reward? Post by: jonald_fyookball on March 31, 2014, 05:19:55 AM Like, if miners that control > 50% of the hash power come together and decide they want to increase the reward per block mined to 100 BTC, couldn't they do that? Since it's all peer to peer they could just change the software to accept that. I believe that would require really foundational source code changes and would cause a fork, meaning it would become a different blockchain...it would no longer be bitcoin. The best way for this never to happen is we need more mining pools Title: Re: Can't miners increase the block reward? Post by: BadBear on March 31, 2014, 08:58:30 AM I believe that would require really foundational source code changes and would cause a fork, meaning it would become a different blockchain...it would no longer be bitcoin. This is correct, the people running that code would have essentially created an altcoin that would be ignored by the bitcoin network. |