Use your logical mind a bit.... What happens when the total ETF AUM of bitcoin is 15 million? You cannot fractionally reserve an asset with a fixed supply where the majority of it IS known.
Where is blackrock going to get the money to subsidize it's miners? It's going to steal investor money? It's going to do this as a minority investor in these companies? How does it actually control the miners as a minority investor? It's like you don't understand how an ETF manager actually operates.
Node operators do not signal, miners signal, you have to make blocks to signal. Ok so we've determined that you don't actually know enough about how bitcoin works to be having a conversation about the way hardforks are driven in the space. Nodes don't vote, that's not how it works.
Study more, speculate less.
You keep recycling the same arguments so no need for me to add to this discussion.
yes i'm trying to help you understand but you keep saying the same thing "they will rehypothecate" and then i explain why that's not really possible but then you said it again.
You're also confused about what fork signaling is, you're confused about why the node operators control the network, you're confused about many things.
Just like previously when I was trying to help you understand what the real threats are, like the covenants you are so fond of.
But you don't listen or learn, you just stubbornly stick to your fantasy theories about blackrock controlling all the hashpower somehow, even when i explain why that's not possible.
Dude, you must be talking to the wrong guy. I’m not so fond of convenants…
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You seem to not understand how easy it is to pull of fractional reserves on an internal ledger. Coinbase (BlackRock I'd a shareholder) could just sell empty claims. They show 1M in reserves. But they sell 2M of coins. Nobody even would notice.
That's not true. The price would reflect it. Suppression. Easy to dump and scare the market. Scoop up coins at the bottom and reduce fractional reserves. Rinse and repeat.
That's how Binance has done it. And that's his BlackRock will do it.
so your theory is they will rehypothecate, and then dump the market with bitcoin they don't actually have because they rehypothecated it, and then somehow buy back all the bitcoin they have rehypothecated and also the bitcoin they sold all because they "panicked" the market?
Not how bitcoin works.
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I always find it amusing when people imagine that the most bullish asset in human history is having it's price suppressed. Boggles the mind.
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So now they control 3 million coins the ETF is insolvent, when bitcoin goes to 250k and people take profit, blackrock execs go to prison.
Don't forget that ETFs are cash settled.
They will just print enough USD to not go insolvent. It's the endgame or the prelude to the endgame and they will go to extremes.
What bothers me is the naivete of sine self-proclaimed BTC maxis.
if they are going to print money off the books, defrauding the federal reserve, give that cash to blackrock to settle ETF profits, while not actually buying the bitcoin, why wouldn't they just buy the bitcoin? Makes no sense.
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