1. Can you prove that #BlackRock BTC ETF isn’t running fractional reserves?
2. BlackRock has deep pockets. It can afford to subsidize the miners it controls.
3. The majority hashrate is the main determinant in the outcome of a fork. Node operators can influence miners and so BlackRock can too.
4. BlackRock and its partners including exchanges, media and governments have enough firepower to attempt a steal on the #Bitcoin brand. There would be a fight between the institutions and the grassroot community for the Bitcoin brand. Exchanges/brokers are particularly important as they are in control on what they call Bitcoin on their platform.
This post is a prospective scenario, I’m not saying that this is happening or will happen but I don’t think you’ve demonstrated that it can’t happen. I actually, think that the most likely way Bitcoin will be controlled by the institutions won’t be by controlling the network but by making Bitcoin non competitive as a medium of exchange and by forcing KYC on-chain.
LogicallyMinded
npub1s0…2rqf5
2024-08-28 05:31:24
in reply to nevent1q…ef5k
Author Public Key
npub1s0fs9dwztm2rukm42vh6df4a5gwykclf75tgyeuc75t0cs2eh8rsu2rqf5Published at
2024-08-28 05:31:24Event JSON
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