With regards to Saylors recent interview and after a few comment's I've read in relation to it, I have a question. There is talk of a possible future fork of the protocol down the line, in relation to KYC'd Bitcoin and none.
If Blackrock et al gain a sufficient number of BTC, say 25% they may attempt to fork (It's actually written in the small print of their ETF approval that they are permitted to do so).
Now I know that it's up to the node operators to decide which transactions to accept from the miners, I'm not 100% sure how many node operators there are, suggestions vary, as few as 20,000 or as many as 100,000🤷🏻♂️. Mining is already extremely centralised with 2 pools having well over 50% of all hash power.
Sorry, I'm rambling here, what's to stop Blackrock/Micro Stratergy running up 10's of thousands of nodes, at relatively low cost, in order to take over the greatest number of nodes who would then decide to process the transactions from the miners, with their particular fork of the software.
Forgive my lack of technical expertise, I'm just curious as to what could/would stop them doing this?
#BTC #Bitcoin #Asknostr.
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npub16p…nafu7
2024-10-21 18:28:03
Author Public Key
npub16pcgz3fct9znjcv37sn7zdrtk4xgjsgla7rm6dz82y9syashr7mq7nafu7Published at
2024-10-21 18:28:03Event JSON
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"content": "With regards to Saylors recent interview and after a few comment's I've read in relation to it, I have a question. There is talk of a possible future fork of the protocol down the line, in relation to KYC'd Bitcoin and none. \n\nIf Blackrock et al gain a sufficient number of BTC, say 25% they may attempt to fork (It's actually written in the small print of their ETF approval that they are permitted to do so).\n\nNow I know that it's up to the node operators to decide which transactions to accept from the miners, I'm not 100% sure how many node operators there are, suggestions vary, as few as 20,000 or as many as 100,000🤷🏻♂️. Mining is already extremely centralised with 2 pools having well over 50% of all hash power. \n\nSorry, I'm rambling here, what's to stop Blackrock/Micro Stratergy running up 10's of thousands of nodes, at relatively low cost, in order to take over the greatest number of nodes who would then decide to process the transactions from the miners, with their particular fork of the software.\n\nForgive my lack of technical expertise, I'm just curious as to what could/would stop them doing this?\n\n#BTC #Bitcoin #Asknostr.",
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