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I don't see how owning a lot of Bitcoin gives you more say over the network this isn't proof of stake, If that's just to have X allocation, with a fork seems like a waste of money, you could just fork it right now and give yourself whatever allocation you want.
If you fork based on the current chain state, you give a lot of people an allocation in a coin/chain that the US government might not want to enrich, why would Blackrock want to give El Salvador, Bhutan, the Lazaras group and all other so called unfriendlies more funds? Just like Blackrock can dump so-called legacy Bitcoin, others will equally dump their BR-Bitcoin
If you fork you can't just port the lindy effect of all the businesses, developers, wallets, software, miners, protocols and users over to your network, you can fork but you're still bootstrapping a brand new network, and good luck to them, many have tried and failed
While blackrock can try, they about making money and reducing risk, just buying their KYC bitcoin and shutting the fuck up is going to get them further in terms of income and AUM growth than what you're proposing, so if you believe blackrock turns from being incentivised by money to becoming some idiolog that just wants to waste money failing to take over a network, thats a long shot in my opinion.
If you're worried about these things you don't have the conviction in the Bitcoin thesis and incentive structure and it might be best to sell down your stack to a point where you would no longer be worried.
I am only bringing this up because the bitcoin community really doesnt appear to acknowledge this risk. Heck many bitcoiners are actually excited about the bitcoin etf.
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I am always keen to explore possible threats, I don't see why we shouldn't embrace every attack on bitcoin, if we don't we're all just larping, this thing needs to be stress tested.
I just don;t see this one as a biggy, I think more bitcoin baulking under the weight of too many users adopting it is a bigger issue and focus needs to be on that, if BR takes some on-chain strain away it kinda buys time for things to develop, either way up or down I am here for the ride
There's a lot of larps in bitcoin these are bag pumpers who can't wait for the fiat gains and hope black rock bid them out of their position and good for them.
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