The ability of Blackrock to decide which fork of bitcoin is legitimate is my concern. They would be able to throw considerable monetary weight behind a malicious fork
Discussion
This is something I haven’t thought of…
#softwar
JPM has been puppeteering that via Consensus and Eth foundation for some time. And WEF also showed solidarity. I'm sure the top 100 shitcoins some are already clandestinely Blackrock projects.
It doesn’t…FUD. This is where the small cost of running a full node comes into play
How was the last fork decided? I would argue it was the free market deciding the value in USD and not the nodes
It was the nodes signaling for UASF. The miners buckled because nobody was going to verify transactions on the NYA fork. After that the signers of the New York Agreement called it off.
I don't trust them at all. That said, I think they will screw that up if they do. Like, not guarding against 'replay' or something simple. If they try and screw it up it'll make them look very bad but if they do it right . . . I don't know.
My gut tells me that I'm not concerned but only a fool wouldn't be very wary and I am very wary.
My friend (who has been a hodler since 2014) and I have discussed this. There's no need to be concerned. If BlackRock can't control all the nodes and force concensus over the network then their fork won't ever work. They can throw in as much capital as they want. All that will do is cause a massive price boost.