Do you trust the miners?

[RGBKey]

Miners caring for profit doesn't mean they'd want bitcoin failing. To say the least, I think they have at least some common interest with the rest. I'm not saying that they should be 100% trusted about taking important decisions.

Exactly, they don't want bitcoin to die because that means most of them would never see a return on their investment of hardware. They also want to make as much of a profit as possible though.

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[maokoto]

Well theoretically, I tend to think a miner will protect Bitcoin as their interest is in it. But if we think deeper, it would be interested only in Bitcoin price, not in Bitcoin gaining adoption or being more fast or secure. Normally all these things go hand in hand, but perhaps there might be a scenario in which they weren't

[Ninjaskills]

yes im trust

[frontdenplastic]

You need to make sure that the system is designed in such a way that miners' interests are aligned with the interests of most users'. This means that they should be able to compete with one another to confirm as many transactions as practically possible and they should be adequately rewarded for their efforts. If you try to change the rules to force miners to do more work for less then you might jeopardize this alignment.

[johnyj]

Unless the PoW mining changes, the miners are always what secures the network, and more than 50% of hash power could always harm the network, that is a fact, trust them or not

[xhoneyael]

I will trust Bitcoin but not the Miner 

[Kprawn]

If I had to decide between entities, when it comes to trust... I would choose the miners. You know their primary motive to mine, is to make a profit. They will push hard for changes to increase their profits.. so they

are predictable. The developers have many different factors : Ego / Money / Pride / Self interest ....You never know what their real motives are, when they submit changes.

The other services are also profit driven, but they might support changes or be against it for their own hidden agenda... So I will go with the predictable option. Miners will never do something to kill the cow.

Without the cow, there is no milk....   

[S4VV4S]

Not really. Quite a few of the biggies who've been interviewed have stated they're purely in it for the dollars. They'll go with what'll load them up in the short term. Long term whatever they choose might be fatal.

Can you blame them?
They have invested a large amount of money in a platform that generates money.
Do you see where I am getting at?

[ph.amracyshop]

Not really, miners only cares about their profits.

[irfan01]

it all depends on the nature of the miners, if she did very well, maybe she can trust

[gentlemand]

They have invested a large amount of money in a platform that generates money.
Do you see where I am getting at?

I can just about grasp the outer edges of it.

Short term profit often does not align with long term health. That's why I don't think miners can be trusted to decide its future.

[zero01]

I actually do not believe in miners, usually they offer advantages that make no sense and leads fraud

[mindrust]

Nah i don't trust anyone other than myself. On the other hand, miners do exactly what they need to do. They work for profits. Nobody can blame them for that.

[frenulum]

The miners should never have much "power". They should never be able to hold the network to ransom. They should be opportunistic scavengers in a very competitive field.

[Blawpaw]

tuff question...

But in my understanding we need to trust miners since they are the ones protecting the network and the one who actively maintain decentalization on the network.

[thinkinger]

Not really. Quite a few of the biggies who've been interviewed have stated they're purely in it for the dollars. They'll go with what'll load them up in the short term. Long term whatever they choose might be fatal.

yes it is true but in the end there is no guarentee for them not to escape too.

[novadragon]

I actually was not too sure, but there are some miners who I trust and I've been friends with them for a long time

[mallard]

Some of them do believe in Bitcoin.
There's a Vice documentary named "Life Inside a Secret Chinese Bitcoin Mine". The guy they interview sells some of the Bitcoin to pay for electricity/maintenance, but he's holding onto the rest of it because he thinks Bitcoin is going to go to the Moon.

[NoRespect]

yes of course, I am also one of the miners too 

[mallard]

yes of course, I am also one of the miners too 

How much do you trust the pool you mine on?