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4

What if after this phase the first miner or more than 51% of them decide to keep the current production rate ? Do their block will be refused like if they had produced a wrong block ? Exactly. This is no different than if a miner (or a majority of miners) created blocks which paid out anything more that 12.5 BTC today: the network would simply ignore the ...


0

This would result in a hard fork where the majority hashrate would decide the rules for the chain going forward, and any hashrate that does not go along would simply split off and have a smaller chain over time (becoming less secure). A hard fork is a possibility at any given time, but in this case, since deflation was part of the design, the economics ...


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