Will BlackRock Fork Bitcoin?

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In this video, I discuss a scenario in which BlackRock forks Bitcoin, replaces proof of work with proof of stake, and then tries to recruit nodes to run the new software.

Any intentional or unintentional fork of Bitcoin is bound to fail, just as BCH failed as a fork. This is because rational economic actors will never want to exchange freedom money for a captured, controlled asset.

Because of this, B-BTC is bound to depreciate massively against BTC, and thus fade into irrelevance.

It's not just Bitcoin OGs and libertarians who want freedom money.

It's also:

Every billionaire in the world
Every corporation in the world
Every nation-state in the world
Every central bank in the world

Why would any of these groups ever want to be at the mercy of BlackRock, if they could help it?

Don't want to be at the mercy of BlackRock or any other Wall Street firm today? Then don't buy a Bitcoin ETF. Buy the real thing instead (BTC), and hold it on your own hardware wallet like a Blockstream Jade or Coldcard.

If you do that and run your own Bitcoin node, no one can ever take away your freedom money.

Not investment advice! Consult a financial advisor.

BlackRock's spot Bitcoin ETF S-1 filing:

BCH market cap:

BTC market cap:

I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos. My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.

#Bitcoin
#blackrock

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Bitcoin_University

lets all work towards running our own node in the future, lets strengthen the bitcoin network

WyattEntertainments

Great topic. Not worried. Never trusted fink from jump.
Can't.Kill.Bitcoin.

pooroldgreyhaireddaddy

Once again the cure for FUD is knowledge. Understanding bitcoin these things roll off your back like water on a duck. Good work Matt helping others get to that level!

charlesmiller

Surely Blackrock are smart enough not to do this. So many would sell and buy btc.

apc

As Andreas Antonopoulos said many years ago, the longest chain always wins. Good luck with that fork Larry.

top_ghia

I remember seeing BCH getting sold for 3k plus. Can't wait. Thanks.👍

Steve.

The benefit of BTC was never that it was electronic money. We had electronic money for decades - it's the fundamentals that matter.

sporegnosis

THANKS MATTHEW, AND HAPPY SUNDAY BROTHER ❤

johnnymidas

Thank goodness for this channel, def a good idea to take courses from Matt. BTC University is as real as BTC. Thx Matt!

miuamiu

This would be awesome. 2017 all over again. There would be a pump leading up into the fork and then we would all get free ship coins to sell and buy more bitcoin!

knifetothebass

This clause in is there specifically because a fork could happen in the future. Doesn’t mean they are planning on forking it. They have also seen how forking Bitcoin has went in the past and there is no way they want to go down that route.

TacoTuesday

I am only buying the ETF with money that is already "trapped" in the system such as my HSA account.

midlifecrisis

Bought into Bitcoin when the cerveza sickness insanity took off _ it’s been an education _ I appreciate the continuing education and I’m a believer now_thanks for your work

miketurenne