0 sats \ 6 replies \ @bitcointerest 24 Oct 2023 \ parent \ on: Stacker Saloon
I 100% agree with this statement. If they can control us then they will essentially control our freedom.
Yes, that's what they want but it's important that we got to this point.
Imo, it was inevitable that this will happen on the path to bitcoin mass adaption. Institutional adoption is just one step on this path. I see no way around it.
Most people won't adopt bitcoin without institutional legitimation first. And yes, they will first use paper bitcoin, but we all started somewhere.
reply
and this is how bitcoin will die slowly...
reply
I doubt Bitcoin will die at this point in its lifecycle. It will however get to a point where institutions will control it to some degree. They have the resources and the tools. They've been doing it for decades now with Gold.
But then again, I might be wrong. Only time will tell. I'm just enjoying the ride for now.
reply
Nope, quite the opposite as long as the network can defend itself :)
Do I have more faith in bitcoin that @DarthCoin?
reply
Do I have more faith in bitcoin that @DarthCoin?
Yes, you do. Lol.
Side note to remember. We've already seen Blackrock owning shares in big mining firms. This means that with enough resources 'capital' they can control a relatively large percentage in the overall network: https://stormgain.com/blog/investment-giant-blackrock-buying-up-mining-and-bitcoin-stocks
reply
That's true. Institutions will inevitably stick their claws into Bitcoin just like they did with Gold. It's already happening. They are the one's that's starting to control the Bitcoin narrative. Look at the 360 Blackrock pulled with Bitcoin not being environmentally friendly. Now they are praising Bitcoin for being environmentally friendly when in reality it was environmentally friendly from the get-go.
reply