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Tone Vays: Miners unlikely to support unwanted Bitcoin PoW change

Tone Vays: Miners unlikely to support unwanted Bitcoin PoW change
Bitcoin miners resist PoW changes

Tone Vays, bitcoin analyst, derivatives trader and event producer, challenges the idea that miners are acting against the interests of the Bitcoin network.

Vays recalls that while miners, specifically Bitmain with ASIC Boost, may have obstructed upgrades in 2016 and 2017, the current landscape is different. He believes that miners will block or ignore any proposed proof-of-work (PoW) changes not backed by at least 80% of the Bitcoin community.

Vays has previously clarified his assumptions regarding Start9 Labs' stance on Bip110, citing comments from the company's CEO as the basis for his analysis in a past article. He has also described the Bitcoin network as a test that distinguishes between humble users and pretentious ones in a separate commentary. His ongoing commentary centers on transparency and understanding within the Bitcoin community.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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