The next (last?) in a series of threads in the project to update and fill-in the
New to BitCoin? Start here! sticky.
If a thread already exists on this subject please let us know and the moderators can add it to the sticky instead of this one. These questions may have already been answered and addressed many times, which is why it is good to have them included in one location and pointed to from that sticky. Please give us your definitive answer to this question, to help out new users coming to this forum as well as existing members who see these questions asked over and over again. Everyone is welcome to give their view of the subject, which is better perhaps than getting only one answer from one central self-appointed authority who thinks s/he knows it all and is only interested in pushing their obnoxious agenda or boosting their own ego ( This is a general hypothetical statement. No particular individual is being referred to here. ).
Thank you for your participation and input; karmacoins will be sent to those with the best Bitcoin community spirit.
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This thread is meant to answer the question asked in the sticky,
New to BitCoin? Start here!:
Could miners collude to give themselves money or fundamentally change the nature of BitCoin? Thread coming---------------------------------------------------------------------------------------------------------------
Could miners ( or mining pools ) collude to give themselves money or fundamentally change the nature of BitCoin?
Well perhaps one saving grace is that the more greedy and sociopathic one entity becomes the more likely they
are to
not want to cooperate with others and would rather stab others in the back to get more for just them...
( e.g. see the movie
The Treasure of the Sierra Madre )
which is why I tend to not put too much stock into the big world wide type conspiracy theories.
Also some say about the pools that if one of them start doing something that the majority of bitcoiners don't like
then miners will leave that pool for another ( like the p2pool ) or to mine solo. But others may counter that a lot
of miners are too sheep-like and/or apathetic ( like voters in countries like America and Canada
) and wouldn't
do much at all, even if it was pointed out to them that it would be in their own best interest to do something like
consider leaving the pool they are in. Another might bring up the time factor and suggest that a big pool could pull
something off before miners could react to do something about it.
Hmm... what does everyone think? Is this something to be concerned about?