PSA: Owning large amounts of BTC does not give you the power to change the rules of the Bitcoin protocol, because Bitcoin is not proof of stake like fiat or Ethereum.
Few people seem to realize this
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Replies (9)
BlackRock is gonna find out the hard way!
I like you @Alan ₿. I try reading the original #AlanWatts but feel like i'm watching him defaecate.
POS=piece of 💩
POW💥=this is the way……..
If you have enough to control the economy, it might come close tho
Are there any entities that could feasibly own that much, though?
Microstrategy only holds ~130K (0.6% of total supply), and even Satoshi only holds/held ~1M (4.8% of total supply).
Even if the Federal Reserve started printing dollars to buy up as much Bitcoin as possible, it’s hard to see how they could ever get more than 5-10% of the total supply.
The question is if we can muster the same personalities that resisted the core takeover back in the block size wars. Blackrock buys people.
Can anyone explain to me (or point new in the right direction) to understand how the protocol has been updated in the past?
Soft forks via mass consensus among independent nodes
What is the probability that one of those forms might make Bitcoin worse?