Also technically true. But miners aren’t gonna switch to a new fork willy nilly. They’ve invested huge amounts of money and energy in Bitcoin.
Why would they waste that away for an “exciting new fork” ?
It’s like cutting the tree branch you’re sitting on.
You are asking me if a large group of intelligent people would ever do something colossally stupid.
They hardly do anything else.
It’s not a group. Each of them deciding individually. If a miner wants to a back a fork with a shit ton of KWh, then they’re free to do it. But since they’re producing that energy themselves, they know it doesn’t grow on trees, and they’ll count to 10 before spending it on the newest fork.
Up to each miner to do economic calculations for the upside of supporting a fork. And looking at all precedents, there isn’t any.
Miners are increasingly organizing and outsourcing. As the cost of mining increases, economies of scale, political influence, and geographical placement become more important, which is leading to centralization.
Validation is still a thing. If they break backwards compatibility with the rest of us, they’ll be on their own.
👏👏👏👏classic and spot on
