If the miners do something that the bitcoin hodlers don't like, they will be mining worthless tokens. Care to explain why they would abuse their power?
My mother had a supertitious prayer in Venetian that she recited during storms, asking for "Santa Barbara e San Simon" to protect us from "thunder and lightning". Of the same genre as St. Benedict's apocriphal verses to repeal the Devil.
"The economic majority rules" is a similar mantra that superstitious bitcoiners invoke to drive away the menace of the Five Evil Mining Pools, those that have 70% or more of the total hashing power. The bitcoiner's mantra is just as logical, effective, and tested by experience as those medieval formulas.
If a mining majority decides to impose a protocol change, that the other players don't like but can live with -- like higher or lower block size limit, higher minimum fees, delayed reward halving -- the "economic majority" will accept it, because it knows that miners can hurt them far more efffectively and promptly than they can hurt the miners.
Holders, in particular, have almost no power. All they could do is to commit financial suicide by dumping their coins and crashing the price; but they wold inflict more harm to themselves than to the miners. Therefore they will not do that; they will keep holding, praying to Sain Barbara that the price will not suffer. Indeed, I bet that they will even speak out in favor of the change, to protect their investment.
When the US government removed the backing of the dollar, Americans did not burn their dollar bills. When banks as a whole raise their fees or cut some services, clients do not run en masse to close their accounts.
Quote
I would really like you to research what would happen if every bitcoin hodler, in the event of the miners going rogue, turns on GPU miners and their ASIC units that are now collecting dust.
Well, not "every" bitcoin holder would do that. Like bankers and governments, the miners will usually avoid diong something so bad that it will directly hurt all of them and cause all of them to revolt. Therefore, most holders will be upset, but will not spend real money with utility bills just to fight some ideological "purity of protocol" cause.
But, even if all off-line mining equipment was brought on-line again, it probably would not account for 20% of the total hashpower.,