Cole on Nostr: Genuine concern as a relatively new bitcoiner……. MartyBent jack mallers erikcason ...
Genuine concern as a relatively new bitcoiner……. MartyBent (nprofile…zslp) jack mallers (nprofile…za3a) erikcason (nprofile…29av) HODL (nprofile…gy2r)
#bitcoin
Is there any concern about the potential of blackrock rug pulling all the actual bitcoin from the etfs people are buying and transferring it to cold storage and basically saying fuck you. If this were to happen would everyone else abandon the network because the biggest holder scammed the entire country/world. I understand this would be completely illegal but in a scenario where you can obtain substantial power by doing it, it doesn’t seem out of the question. Especially seeing repeated corruption throughout history. If in ten years they continue to hold more and more of the total bitcoin supply and have the opportunity to do this at a large scale it seems like something to worry about?
Trusting some of the most greedy power hungry individuals with the most scarce asset of all time seems like a risky play.
#bitcoin
Is there any concern about the potential of blackrock rug pulling all the actual bitcoin from the etfs people are buying and transferring it to cold storage and basically saying fuck you. If this were to happen would everyone else abandon the network because the biggest holder scammed the entire country/world. I understand this would be completely illegal but in a scenario where you can obtain substantial power by doing it, it doesn’t seem out of the question. Especially seeing repeated corruption throughout history. If in ten years they continue to hold more and more of the total bitcoin supply and have the opportunity to do this at a large scale it seems like something to worry about?
Trusting some of the most greedy power hungry individuals with the most scarce asset of all time seems like a risky play.