350 karma · joined June 12, 2020
For instance, if the third party refuses to authorize a legitimate transaction, you have a third key you keep offline somewhere that can be used to force a transaction through.
>Private equity describes investment partnerships that buy and manage companies before selling them.
Can you expand on this?
This line of thinking is a fundamental misunderstanding of who holds the power to change the rules of a system like Bitcoin. It's not the miners, they just enforce the rules. Economic actors are the ones who agree on which rules miners enforce.
That hard fork the miners created? It's worthless, just like every other time miners have tried to change the rules.
People have been saying the same thing for over 10 years. So far that hasn't been a good bet.