Narwhal Tacos on Nostr: I feel the doom-porn about Blackrock introducing a hard-fork of Bitcoin is dismissed ...

I feel the doom-porn about Blackrock introducing a hard-fork of Bitcoin is dismissed far too casually. We need to have far more imagination about this.

Here’s my elevator pitch for how this thriller plays out:

BTC ETFs get approved across almost every large investment institution, become massively funded as the coming bull market ensues. None allow self-custody.

A narrative-friendly hard-fork of BTC is rolled out, Proof of Stake, ESG-friendly, yadda yadda.

Western/WTF Gov’ts worldwide pass legislation that all financial institutions must convert BTC holdings to this new fork.

To backstop any disruptive market-responses, Central Banks guarantee to support the price of the new offering at par w/ BTC, even provide new inflows as they announce programs to take the new & better BTC into gov’t treasuries.

Of course, trading in old BTC is banned, and miners receive massive incentives/subsidies to support the new protocol, essentially becoming public utilities.

Retail/Service businesses of all sizes are incentivized to accept BetterBTC, led by Amazon - most banks now gladly accept it as collateral for mortgages, loans, etc.

China leads an influx of non-Western countries along this same path. BTC was a threat to them as well, and they fomo to gain influence in the new Proof of Stake BTC.

Normies throughout the richest countries of the world notice nothing other than that Gov’ts ‘solved’ BTCs problems they’d been hearing about for years, and their net worth has soared.

The maxis of today flee to their respective El Salvadors, but find that even Bukele’s successor begrudgingly adopts BetterBTC alongside BTC & $US as currency because “market forces should decide which is best”.

Maxis continue to play “Don’t Stop Believin’” over the next couple decades, waiting for the great rug-pull the new Proof of Stake BetterBTC must eventually become, but secretly harbor fears their children have come to think of them as old tin-foil crazies like the gold-hoarder generations before them.

ANYWHOOO - my only point in spinning the above narrative is that I genuinely think if you’re going to doom-porn, you should throw yourself into it wholeheartedly.

Don’t care, not selling.