Don't forget BlackRock can decide on behalf of all their spot ETF investors which fork of #bitcoin is the "real" bitcoin.
Discussion
Followed.
very true. this is why owning the actual asset will always be better than owning a share of an asset.
Damn. So true
That's stretching it... But I get the sentiment.
BlackRock can use their discretion based on factors they deem relevant to decide.
"is generally accepted as the Bitcoin network"
"generally accepted" ...by who?
COVID vaccines were "generally accepted" as safe and effective.
Bitcoin was (until very recently) "generally accepted" as being bad for the environment.
High cholesterol is "generally accepted" as unhealthy.
Psilocybin and other psychedelic medicines are "generally accepted" as dangerous drugs that fry your brain like an egg on a hot pan.
A Vegan diet is "generally accepted" as being healthier than a meat dominant diet.
US government bonds are "generally accepted" as a safe-haven asset.
UFO's were "generally accepted" as a conspiracy theory
The point is...the decision of what is the "real" #bitcoin is entirely up to the discretion of BlackRock, a company that has its own self-serving agenda that conflicts in every way with what is good for humanity.
Generally accepted by the shareholders. I realize I took an L here, but it will be up to them to hold the sponsors accountable, so it will be a market decision as it was with bcash and satoshi.
Yes ultimately the market decides but if/when it eventually happens BlackRock Vanguard Statestreet may represent a significant or even majority portion of Bitcoin's market cap. They will have no problem sending the price into 7 figures/coin just to entice current holders to part with their coins (which many will)
It's not just Blackrock choosing willy nilly. There's too much on the line for them to fuck this up.
Based.
Blackrock forking their own version of BTC is how I see the government trying to force their CBDC.
(They will try to make it insanely hard to resist.. pensions tied to it, all government retirement accounts, government payroll, welfare, much more). Comply or Die.
I hope they are not successful.