"effectively replicating the centralized control of traditional finance" - okay you definitely got an AI to write this. And it doesn't know what it's talking about.
Traditional finance is hooked into a permissioned, fiat, printable monetary system. That's where it gets its centralized control.
Send this comment to your retarded LLM friend and point out how Bitcoin works exactly opposite to this and see what it says. Post its reply here, if you dare.
dude
if they own that many coins they are highly incentivized to do WHATEVER it takes to manipulate the market in their favor.
they can manipulate futures markets, tax the shit out of it, dump coins etc
its not a LLM created fantasy.
All that does is change the price, not manipulate Bitcoin. And that price manipulation isn't even guaranteed. The price movement (and how long it lasts before healing) would depend on the reactions of the rest of the market.
Owning lots of Bitcoin doesn't give you any control over the protocol. All it lets you do is sell your Bitcoin. And if fewer people are willing to trade Bitcoin for Fiat, then all you have left to do with your "hoard" is buy valuable goods and services from other Bitcoiners. ...which is obviously the goal of society and not a problem.
We should be worrying more about them stacking coins but rather stacking nodes. That’s how you control the network in your favor.
More individuals should be focused on Bitcoin education and running a node to keep it secure and decentralized.
Right. This.
I meant to say shouldn’t but you got the point.
its A point
but its absurd to think having large powerful organizations with huge bags isn't a threat.
they WILL use the threat of violence to restrict p2p use of the network.
Yea they’re never in the interest of the many but only the few. Even if the few means “themselves and myself”.
Andreas covered some of the concerns long ago.
I mean if the Fed and Blackrock sponsor a fork
do you really think the miners are not following the money?
Depends of their character
ill remind you they are extremely centralized, depend on cheap electricity from the govt and the largest are public companies.
so its illegal for them to NOT maximize shareholder value.
character doesn't enter into it. not that we should be depending on character anyway.
all in all
we would be a lot better off if we hadn't invited Wall Street for another 5-10yrs.
