Prediction.
Bitcoin maximalists will end up regretting the BlackRock ETF, just read their document, everything will end with a Bitcoin fork chosen by themselves, under what conditions I do not know, but evidently it will not be the founding values of Satoshi Nakamoto.
They think it's flight to equality.. They have no idea what's coming in the next 10-15 years.
Play this ETF rug scenario out…doesn’t it (1) bring attention to bitcoin the asset, (2) give credibility to bitcoin the asset, (3) the inevitable rug on the asset (I.e. move to proof of stake) results in a hard fork that all bitcoiners who hold their coins would just keep holding their coins and mining the old fashioned way (4) and after the inevitable price collapse in the original coin as a result of this tactic, bitcoiners would just pick up all the slack in the traditional market and help bitcoin recover to ATHs in 2-3 years?
Like why is the BlackRock rug more important than the FTX rug, etc.? Those who don’t truly understand the fundamentals of bitcoin or try to shortcut the process will be humbled. In the past it’s been Bob Johnson, in the future it’ll be Larry Fink. Bitcoin DGAS
I think you’re right. Can see them using the Institutions to enforce OFAC sanctioned txs effectively forcing a fork. I don’t know if it will work or be successful, but these Orgs work hand in glove with government so I am expecting shenanigans.
A person I respect once said the original sin of Bitcoin is wanting to get rich before the revolution is over.
And since majority of hashrate is from US through publicly traded centralized mining pools fork will include regulations and will be enforced on them by law.
Fork doesn't mean much unless others run it, but yeah I can imagine there might be another war coming, this time started by investment funds/govt trying to force exchanges and miners to run their fork
I don't understand who will buy the etf. It's the same argument as SLV vs PSLV. you would have to be stupid to buy it when you can buy the real thing.
Dont matter How mutch of bitcoin are stacked with maxis, non will accept the fork, the real bitcoin will continue existing and the fake black rock bitcoin is fade to death.
Even if the majority accept the black rock bitcoin, the real bitcoin will not die and be running. Bitcoin is not the price, its the revolution.
This could be the last attack on bitcoin, then we Win, libertarians bitcoin maxis will be the new natural aristocracy
Let them try! We have nothing to loose, but they could loose everything.
BlackRock can fork his mother if he wanna fork
Who will have regret?
How do we avoid a US spot ETF?
Probably they want to control and leader the development but to do that they need a Community who follows and run that crap-fork bitcoin code. Who is there?
Let them fork off and find out 😂
I have no regrets for the people who will buy #BTC ETFs because all they care about is having exposure to the fiat price of #Bitcoin
Those people aren't in it for the freedom. They're simply fiat gains mercenaries.
Blackrock Fans = FIAT Maximalist
Agreed on all that, but you are speaking of dollar maximalists.
Fed by mountains of phoney fiat. The choice will be:
A fork which "fixes" Bitcoin's supposed regulatory weaknesses.
Or the original Bitcoin, as in freedom tech.
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I don’t think that is right because we’ll just run the old code the way it was. They can have their fork. If it messes with the incentives, the miners won’t go along. That’s the beauty of bitcoin. It doesn’t need everyone to adopt it, just the people who want to [be free and get wealthy].
