I thought it specifically is ruled by it's miners. They control what the neck block looks like, they control what goes into blocks, and they control what's considered consensus.
I thought it specifically is ruled by it's miners. They control what the neck block looks like, they control what goes into blocks, and they control what's considered consensus.
Not really. Bitcoin's rules define what qualifies as a valid block. Users apply those rules to decide what the current blockchain is. If anything, miners are dependent on users accepting the blocks that they mine in order to be able to sell their mining rewards and fees to pay (usually in fiat) for the electricity they use to mine.
The real "ruling" happens at the exchanges where BTC is valued.
The miners spend efforts finding blocks to add to the blockchain, and can be selective about what transactions they let in. But they are constrained by Bitcoin's rules. They could try changing the rules, but if users don't accept the changes then their blocks won't match the set of rules the users are using and their mining rewards and fees won't have value.
Miners are further constrained by "game theory" as they compete against each other. If one miner chooses to exclude transactions another miner is prepared to mine, then the transaction fee on those transactions won't be earned. Mining is competitive, and leaving money on the table like this widely can be expected to be loss making as the cost to mine a block is no lower if there are fewer transactions in it.
The one thing miners have going for them is that they already pool their resources so can organise. But so can the exchanges.
Ask yourself why miners haven't forked to a version of Bitcoin that gives a higher block reward and you'll understand how it works. Nobody would accept these blocks as valid so the money they are "creating" would be worthless.
The consensus for bitcoin is made within the network itself. Not on a mentally unstable person's poll.
Luke-jr, aka the Blockstream coder/troll who has used his pool to maliciously kill other cryptocoins[1], made that poll based on Coinbase KYC info. That polling platform only has use within a tiny segment of Bitcoin users that trust Luke after his abhorrent actions and those that are also on Coinbase with verified accounts.
That is not consensus at all. Bitcoin as it turns out has mechanics for building and signalling consensus but Blockstream & co have been pounding sand trying to subvert it for years now.
Here is an enlightening thread on the type of awful actions Blockstream/Core has been up to regarding 2x and signals to support it among the Bitcoin community. Matt, Drak and the other Blockstream/Core thugs spend their time screaming at people on reddit/twitter while inventing lies[2] that necessitate being called out by their victims[3].
[2] https://twitter.com/btcdrak/status/901154579324301312
[3] https://twitter.com/barrysilbert/status/901162023819649024
Read through his reddit history and see if you still think he is something worth treating as an authority. It's full of extremist religious ramblings and nonsense about bitcoin with no technical backing.