Subnostr

I don’t think the solution to this scenario is that simple. Technically, #BlackRock & co could spin some #sybil nodes. Also, full nodes support is only one factor of how the “winning” fork would be determined. #Hashpower support and exchanges support will obviously play a major role. It’s easy to see how major exchanges could side with BlackRock and as mentioned in the video, #WallStreet is launching his own exchange called #EDXMarkets (I suspect the initial plan was #FTX). Hashpower is money so it’s also easy to see how BlackRock could be competitive on this front. If the war happens, I would expect it to be disputed on all three fronts (full nodes, hashpower and exchange support). In the end, it may be that the winner would be determined by public opinion. In which case, public relations would play a crucial role. Imagine if all the control media pushes a narrative that BlackRock fork is the real #Bitcoin?

Jason the Original 2y ago

They could do all those things and have Blackrock Bitcoin not Bitcoin. It would inevitably lose.

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Discussion

LogicallyMinded 2y ago

It’s possible the #BlackRock fork would end up being called #Bitcoin ESG or Bitcoin Green it’s also possible that they will manage to steal the Bitcoin brand and the current Bitcoin would be named Bitcoin #PoW. It’s just impossible to know for sure what the outcome would be.

Jason the Original 2y ago

I have a pretty good idea that the OG #bitcoin ers aren't going to let Blackrock co-op their bitcoin. They will do what they always do and dump the shit out of every Blackrock bitcoin they get in a fork and dump the piss out of the price. Sheeple don't want the under preforming asset. Any not fully dedicated bitcoiner that has it in cold storage wont even know how to see their blackrock #btc in storage. Bitcoiners will run their nodes. Black Rock can spin up fake nodes I guess, but who cares. Most miners and 90% of none publicly traded miners will mine bitcoin only. Some stiffs will split their hashpower to diversify. Even if there is a dip in hash it won't matter miners don't make the decision on what is bitcoin.

Finally as people invest in bitcoin they get interested in learning. They learn from the educational foundations the OG bitcoiners have laid down and it changes their ethos. Maybe everyone isn't 100% on the same page but we all migrate to some core principles. The principles shared by a huge majority of bitcoiners are not congruent with laying down to Blackrock bastardizing bitcoin via a fork.

Those are my thoughts. I am pretty confident. I guess time will tell.

RealJohnDoe 2y ago

Anything will lose and here's why.

An explanation of Bitcoin

I run a #FullNode. FullNods enforce the #Bitcoin #Protocol. The Bitcoin protocol Is #Bitcoin, and Bitcoin makes #Bitcoin's..🤔

So, as a FullNode we are directly responsible for the long term security and value of Our! Bitcoin and everyone else's. We have a self-interest in the purity and integrity of the Bitcoin protocol.

That's how Bitcoin is designed. The power and responsibility for Bitcoin rest with the FullNodes. Not the miners. Not the market. Not the exchanges. Not the developers.

The #power and #responsibility rest with the #self-interest of the Bitcoin FullNods, in the security and value of their #personal #property known as Bitcoin. Whatever good or benefit derives from Bitcoin, derives from this #reality.

You're welcome..🧡👑