TheGuySwann on Nostr: If you are concerned that because Blackrock holds a bunch of Bitcoin that this means ...
If you are concerned that because Blackrock holds a bunch of Bitcoin that this means they control it:
Monetary power has nothing to do with how much of some arbitrary unit you own, it’s in how much **the market WANTS the unit you are holding.**
Money is a PROXY for securing and exchanging wealth. Not wealth itself.
Amazon or Blackrock or [insert huge corporation] cannot control Bitcoin simply because “they have a bunch and are super wealthy” for the exact same reason they don’t control any of their markets without their customers.
It’s the same as saying that Amazon could lose almost all of their customers but still control the retail market because “their company is so big.” The ONLY reason they have power or wealth is because customers want to use their service. Take that away and their stock, their streaming service, their servers, their website, all of it is worthless. Their wealth vanishes in a literal instant without customers, because the value of all of those things IS the size of the market that desires them.
Blackrock forking with “So MaNy CoiNs” doesn’t mean anything if nobody wants them. The value of those coins is explicitly a reflection of how much OTHER PROPLE are willing to directly sacrifice to get them. Because nobody wants another sh*tcoin. The market has proven this over, and over, and over, and over again.
If you think people would be willing to sacrifice more in order to hold Blackrock’s sh*tcoin fork, than to own real Bitcoin… then I have fiat to sell you.
Monetary power has nothing to do with how much of some arbitrary unit you own, it’s in how much **the market WANTS the unit you are holding.**
Money is a PROXY for securing and exchanging wealth. Not wealth itself.
Amazon or Blackrock or [insert huge corporation] cannot control Bitcoin simply because “they have a bunch and are super wealthy” for the exact same reason they don’t control any of their markets without their customers.
It’s the same as saying that Amazon could lose almost all of their customers but still control the retail market because “their company is so big.” The ONLY reason they have power or wealth is because customers want to use their service. Take that away and their stock, their streaming service, their servers, their website, all of it is worthless. Their wealth vanishes in a literal instant without customers, because the value of all of those things IS the size of the market that desires them.
Blackrock forking with “So MaNy CoiNs” doesn’t mean anything if nobody wants them. The value of those coins is explicitly a reflection of how much OTHER PROPLE are willing to directly sacrifice to get them. Because nobody wants another sh*tcoin. The market has proven this over, and over, and over, and over again.
If you think people would be willing to sacrifice more in order to hold Blackrock’s sh*tcoin fork, than to own real Bitcoin… then I have fiat to sell you.