0 sats \ 1 reply \ @phaedrus OP 5 Sep 2022 \ parent \ on: What do miners control vs plebs? bitcoin
This describes how Bitcoin works.
What are the implications of that, from the perspective of controlling/changing things, enforcing KYC, etc?
The vagueness of your sought-after conclusionons make it hard to reasonably address the question.
We can draw a bunch of implications. For instance, the only method for validating tranactions in Bitcoin requires miners to include transactions in blocks. People wanting to do bitcoin layer one transactions must submit a transaction to the mempool or to a miner for inclusion in a block.
Unrelated to the scope of what I wrote so far in this thread, private keys control/change UTXOs, through the mechanism explained above.
Therefore, one can imagine that if the person with private keys refused to, or it the miners refused to, cooperate to validate a transaction, it will never make it to the block chain.
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