&gt;The miners are incentivized to do whatever is best for the value of Bitcoin<p>No they aren&#x27;t.<p>The miners are rational actors and incentivized to do what&#x27;s best for themselves, not Bitcoin.  The entire network is built on the premise that the miners are rational, and it has been demonstrated <i>four</i> times already.<p>Bitcoin is an example of how <i>Tragedy of the Commons</i> applies to digital networks.