Introduction to Bitcoin

Since nobody controls Bitcoin, it nearly impossible to change the Bitcoin. Many time in the past, some group of people has tried to change Bitcoin. One famous example is BitcoinCash. In 2016-17, price of Bitcoin was skyrocketing, more and more people were doing transaction. People has to pay 10-20 $ to get a confirmation of transaction and get include in the block-chain. Some people together with more than 80% miners support tried to fork the Bitcoin and they failed because Bitcoin community resisted to accept that change. They were trying to change the block size from 1 MB (Mega Byte) to something larger. They fixed a date and time and from that time every one was supposed to change the software they run for Bitcoin. This software makes sure that block size limit is increased from that fixed date and time. This type of change in software is called hard fork. When that moment came, no one followed the new rules and they failed to change the Bitcoin. If miners run their computers on software that follow different rules than the coins they get as reward has no value and thus they loose money. Thus it is myth that miners control the rules of Bitcoin. If majority of them colludes with each other than worst thing that they can do is to reorganise the last few blocks that were newly mined and double spend same Bitcoin. But it is costly and not worth it. They are better keep honestly mining and get rewarded. Bitcoin has value only because it is decentralised and can not be changed and no one controls it.