Replying to Avatar Jameson Lopp

The use of arbitrary data isn't really relevant to decentralization - that's what the block size limit is for.

A much bigger threat to decentralization is things like ETFs and the normalization of just letting an institution hold your bitcoin.
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Hoshi 7mo ago

I wonder what happens with ETFs at forks. Do you know how ETFs define bitcoin?

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Cardinal 7mo ago

I suppose different funds would deal with it differently. As for IBIT, this is what I found on their 8K filing:

>> In the event of a fork, the Anchorage Custodian Agreement provides that the Additional Bitcoin Custodian may temporarily suspend services, and

may, in their sole discretion, determine whether or not to support (or cease supporting) either branch of the forked protocol entirely, provided that the

Additional Bitcoin Custodian shall use commercially reasonable efforts to avoid ceasing to support both branches of such forked protocol.

BlackRock also has shitcoin ETF, so I wouldn't trust them to do the right thing when the time comes.

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Hoshi 7mo ago

thanks!