yes, and then eventually dump all the current Bitcoin.
mine the current fork will be no more profitable, so miners will all switch to mine the "Blackrock Bitcoin"
Discussion
they could also switch to POS and became the hero of the "green" for having saved the world from the "Bitcoin environmental disaster".
There are so many incentives to do so that I can't believe they won't.
So in this case you would just have created a dork that they can't even control since they at best can get 2-3 million bitcoin assuming most of the hardcore bitcoiners aren't gonna be selling for an etf. They would now have a bitcoin they could be prevented from using by major bitcoin whales or more likely they would change issuance and a system they can control but now not gonna be useful as a money. Who's gonna adopt that again?
I think you're getting causality backwards. If they buy bitcoin the value they put in would already go to current sellers or miners. Them forking doesn't let them Set the price of the new bitcoin. Theys still have to convince buyers to buy it. Also them selling all their bitcoin doent make mining unprofitable.
they can convince everybody with enough marketing (that they can afford). Also, they don't need to convince those who buys Bitcoin with through them. they get the dollars and they buy whatever they call Bitcoin.
also, once there's a good Bitcoin that institution and media recognize, the other Bitcoin will be dumped.
keep in mind that we are a very small minority. most of the bitcoiner are here only for the profit and don't mind dump everything for something more profitable (unfortunately)
If you're presupposition is that you an buy people into valuing things yes then you're right. But then the whole notion of bitcoin is irrelevant. Why bother just make people value the dollar or jpegs.
I think that's where you can't make people value things over the long term not against reality.
the vast majority of people are already valuing dollars and jpeg more than Bitcoin 🤷🏻♂️ it won't be hard to make them value the "next big thing".
I want to stress this point again: bitcoiners (I mean, those that understand and give value to Bitcoin for what it truly is) are a small minority of the population.
We would need to orangepill everybody before the ETF is approved.
If everyone has to agree then bitcoin was always fucked, it would be exactly the same as fiat. If a etf with 15% of total bitcoin is gonna end bitcoin it was never gonna work. Its time to sell and short bitcoin classic
you might be right about the few percentage of bitcoin they might get and the power it gives them.
anyway, I can't believe they'll play such a big game with our rules without trying to cheat.
the only thing I know for sure is that I'll hodl my BTC to the end, being it 10.000.000 dollars or 0