Great post, and a much needed one. The amount of people who think Wall Street can change the code just because they own it gets annoying to defend against. Also, if they own most of it and could change the code -- why would they want to change it for the worst? They own it!
Very, very happy to read your view on WS influence on Bitcoin.
In particular point #1. Ownership does not equal control.
Which, I admit it, was a very strong concern of mine as well as of many others.
However I cannot recall that back in the ‘80s the Hunt brothers tried to corner the silver market. Of course silver is NOT a limited supply asset as instead Bitcoin is. The point is that WS tried to put his dirty hands on a commodity.
Thanks goodness WS (BlackRock, Fidelity & Co. ) own via ETFs less than 2% of the 21M fixed supply of Bitcoin.
That said, and as mentioned in the article, I do agree that the decentralized nature of Bitcoin will literally make it impossible for anyone to corner its market.
Great post, and a much needed one. The amount of people who think Wall Street can change the code just because they own it gets annoying to defend against. Also, if they own most of it and could change the code -- why would they want to change it for the worst? They own it!
Very, very happy to read your view on WS influence on Bitcoin.
In particular point #1. Ownership does not equal control.
Which, I admit it, was a very strong concern of mine as well as of many others.
However I cannot recall that back in the ‘80s the Hunt brothers tried to corner the silver market. Of course silver is NOT a limited supply asset as instead Bitcoin is. The point is that WS tried to put his dirty hands on a commodity.
Thanks goodness WS (BlackRock, Fidelity & Co. ) own via ETFs less than 2% of the 21M fixed supply of Bitcoin.
That said, and as mentioned in the article, I do agree that the decentralized nature of Bitcoin will literally make it impossible for anyone to corner its market.
Thank you Bitcoin Fortress!
Thank you Satoshi Nakamoto!
Thanks for the inspiration for this piece!