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2935d
Mining was a good principle for governing the chain when it was written. Unfortunately BCH is now in a different situation. When there was only one Bitcoin, all miners necessarily had skin in the game: If they messed
replied 2935d
up the coin they were mining, there was no other coin to switch to. If you can bribe someone to vote one way or the other, or you just want to mess with BCH for ideological reasons,
replied 2935d
you can do so at almost no cost. You only need 51% of the total hashrate, which is in turn maybe 10% of the total sha256 mining power, so you need 5% of that. What's worse,
replied 2935d
if you start mining BCH after it becomes marginally more unprofitable, because you're also compensated by a bribe or by an ideological payoff, rational honest BCH
replied 2935d
miners will switch over to BTC, leaving only the attackers mining BCH.