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Author Topic: Can't miners increase the block reward?  (Read 666 times)
skooter
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March 31, 2014, 04:15:26 AM
 #1

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.
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justusranvier
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March 31, 2014, 04:23:58 AM
 #2

No.
nazban
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March 31, 2014, 05:08:10 AM
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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.
seriouscoin
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March 31, 2014, 05:17:51 AM
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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.
jonald_fyookball
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March 31, 2014, 05:19:55 AM
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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

BadBear
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March 31, 2014, 08:58:30 AM
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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.

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