Why Are Miners Involved in Bitcoin Code Changes Anyway?

Developers, startups, miners ... all have played a role in bitcoin's technical debates. But if you've been following, you may have noticed the attention being paid to whether miners are "signaling" for various proposals.

Before we dive into what that means, it helps to understand that the term "miners" actually relates to a diverse group of people.

First, all miners develop, build or deploy the specialized computers designed to compete (or help others compete) for network rewards, and in the process, help move bitcoins from person to person. The role may sound mundane, but there are concerns that miners have, or may one day have, too much power over network decision-making.

Since some argue that it was originally envisioned that every bitcoin user would help secure the network – as opposed to massive companies – miners have long been the subject of the less-than-trusting imaginations of the network's users and security-conscious developers.

With just about 20 mining pools out there, some controlling large chunks of the underlying computer power, there are long-held fears that they could potentially conspire to attack the network and, as a result, reduce confidence in bitcoin as a secure and stable online currency.

Complicating matters is that, over time, miners have also developed a secondary role: helping bitcoin add new technical features. And, similarly, users have grown to worry that this position could be abused.

Indeed, you could argue that the group contributed to recent uncertainty about bitcoin's future. With several competing proposals on the table, there were many different ways this summer's code changes could have unfolded, and miners were integral to each.

At points, it even felt like their approval of the change was the sole thing keeping bitcoin from splitting into two competing blockchains. (It's worth noting that some miners might even end up doing just that).