Replying to unknown

Was listening to the Saylor series with Breedlove and Saylor mentions that “the nodes, the miners and the holders all hold power in the bitcoin network”. I understand how the nodes and the miners hold power but how do the holders have power?

#asknostr #bitcoins
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Good Life Seek 10mo ago

They have the power to hold.

The power not to sell.

The power to keep their Bitcoin.

It cannot be confiscated.

It if extremely hard to be stolen, if properly secured.

They also have the power to transfer Bitcoin to any address they want and nobody can stop them from doing it.

They have the power to spin a full node if they want.

Makes sense?

Anything else?

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unknown 10mo ago

I agree with all you said but if there’s a hard fork, the miners can choose the coin they mine, the nodes can choose which software they run but the holders cannot choose the coin they own unless they’ve run their own node. Have I got that right?

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Good Life Seek 10mo ago

I think so.