In this tug-of-war over capacity expansion, why are miners destined to be losers?

In this tug-of-war over capacity expansion, why are miners destined to be losers?

Peter Rizun (BU developer) recently published an article explaining the implementation process of the hard fork, and stated that BTU will eventually win (Roger Ver specifically tweeted to support this article, so I had the idea of ​​refutation after reading it.). This article refutes this view.

The market will decide who the winner is, and anyone other than the miners, even if they support the Core chain, has the power to decide who the winner is. Miners are miners, and the market is another matter. Miners may win a battle, but they cannot be the final winner of the "war". They should remember this.

Without miners, BTC will certainly be hit hard, but Core developers can immediately start the 2MB update, through SegWit and Lightning Network, a group of trusted developers will build more powerful Bitcoin functions and off-chain expansion capabilities. In the end, on-chain transactions will only be difficult. All of this is achieved without the centralized control of miners.

Users will start to follow the proponents of SegWit, and the market is convinced of the positive impact of this concept on Bitcoin's functionality. Given the position of BTU, their sales pitch is well done. Scaling without miners will undermine the mining process, but will help stimulate Bitcoin's potential.

BTU miners have to sell their mined coins on the market. But I don't see the market size of BTU except for their own miners and investors. Miners can't control Bitcoin, and even Core can't control Bitcoin. Maybe, I'm just saying it, only users can control the future development of Bitcoin? People who think that the market doesn't understand the dynamics of both parties (Core and BU) are just fooling themselves.

If you look closely at the community’s reaction, the community will not follow the miners because they are trying to turn Bitcoin into a digital money jar. The community will agree with Core, and Core will help achieve the best development of Bitcoin. Miners will eventually lose this tug-of-war.

Obviously, BTU developers cannot replace BTC developers, as the recent BU vulnerability has proven. But BTC miners can be replaced. There are many people in the world who want to do this job and can do it well.

This power struggle is only temporary. Miners put their own interests first and hope to use their power to blackmail the entire system in an attempt to ultimately achieve their own interests. People will not recognize their behavior, which is not what leaders should do.

Eventually, people will turn to support Core. The problem is that miners are blinded by economic benefits and it is difficult to reach a consensus. Can they see the facts?

If miners can't see the situation clearly: the market will eventually follow Core and will not short BTC for BTU, a competing coin. Then use the method mentioned above. Just like Bitcoin, it is not perfect in itself, but it can still do well.


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