Bitcoin is being hijacked buy Wall Street and everyone is excited. 🤦♂️ You know they will leverage the shit out of it and rehypothecate. When the shit hits the fan they will try to manipulate it and when that clearly won't happen they'll fork away and blacklist the current chain transactions.
by * 😉
Or they loose and their greed will undo them
As long as the powerful stand to lose their power, they will continue trying to rig everything.
They'll have to show proof of reserves for audits. I think we'll be fine. And if not, it's a screaming argument for why not your keys not your coins is important.
Didn’t several of the def-fi scams just borrow from one another or other sources to get through their proof of reserves audits?
Can you imagine BlackRock getting liquidated and finding out there are no bitcoin bailouts? WILL BE GLORIOUS
Somehow I doubt they will roll over for that.
That’s the fun part. The state is in a collision path with freedom tech, almost by definition. BRING IT.
Just another test. Tick tock
I think the "good" people's republic of America will have much more trouble forking bitcoin then you think. Never give up your nodes or your miners. Every hodler should buy an Apollo, point it at Ocean, and save the planet. Agree on the leverage and paper bitcoin. The banks will get wrecked. Paper hodlers will be wrecked. No bail outs in bitcoin world.
Would you mind explaining to this ignorant pleb what that sentence about Apollo and Ocean means?
I agree, even if they do fork it, the odds of it going the way of bitcoin cash and other shitcoins is very high.
Bitcoiners remember, you mess around with yield hopium and off chain nonsense like hypothecated exchanges, you will get wrecked. A painful experience many of us learned in the early days.
digital scarcity is gonna rip the ass off of someone
paper bitcoin has no scarcity. you can literally create any amount if the situation demands
I think paper bitcoin is inevitable. There will be many shakeouts as they come to terms with the new reality of absolute scarcity and 24/7 global settlement.
Yeah ngl im a bit disgusted by the people cheering for the ETF. /shrug. I don't really like it but I also recognize that something like this was probably inevitable. We're definitely getting into the stage where corporate entities try to capture Bitcoin via regulation. or at least much more overt attempts.
If #bitcoin can be hijacked by a bunch of Wall Streeters then I don’t need it. It failed its purpose.
THEY WILL GET REKT AND IT WILL BE HILARIOUS.
I agree but think it through further. After they fork to save their ass, jurisdictional arbitrage will fuck their fork. Remember Bitcoin's incentive structure is that everyone is holding a gun to everyone else's head. You think Saudi, Russia, China, ect want to own Blackrock/USAgov Bitcoin? It will be ugly and scary but they will get rekt. https://image.nostr.build/079d4e920ef9b397ee3d84e5f38efee3eee044f078905e286fd8def6bae49364.jpg#m=image%2Fjpeg&dim=1199x675&blurhash=iDC6Gf9E%7EWemxbIoofR*oL%24%24t8R*t7oLNGt7RjoM0etm9ZkXe-ayt7WCR*R%2BV%40xaofRjxuRit7WAt7RjxuRjW%3DWVjZbHso&x=188b07fadb7200c18a2c0327c8b376ccb24fbed167093ebf0261d0908c63c826
It is precisely those outside forces that will try to collude to save their asses.
I think you are underestimating the incentive of greed. Anyone of those entities would glady watch the others burn for a larger slice of the pie. Deep diving into Bitcoin's incentives and human nature gives me so much hope against the darkness.
They're not hijacking it. They will be the ones that get hijacked in the end. nostr:nevent1qqsfg37f3g43d3smklm05zm70exdz9pqvzec9pelrerrzkhcsrpexrqpp4mhxue69uhkummn9ekx7mqzyqduwzspfzelx9k6x0lrez0j8cl8rtz0lxvqylk8z2ustnfy76jpzqcyqqqqqqgwvk8cw
And they'll be rekt in the end. Bitcoin is permissionless, nothing we can do to stop them. And there's nothing they can do to stop us.
Your post is creating a buzz. Added to the https://nostraco.in/hot feed
idiots everywhere
I hope they fork it so I can dump on them.