🔑 BlackRock's ownership of major Bitcoin mining companies allows them to have control over their operations.
💼 BlackRock's influence on corporations through the ESG narrative may impact Bitcoin's future.
💭 Engaging in thought experiments and discussions about BlackRock's involvement in Bitcoin is crucial.
🔎 The battle between proof of work and proof of stake is discussed, with Ethereum transitioning to proof of stake.
⛏️ There is a misconception that BlackRock can force Bitcoin miners to switch to proof of stake, but miners are not responsible for coding the necessary software.
💡 The idea of a mining operation controlling the direction of Bitcoin's consensus mechanism is unlikely and not aligned with the decentralized nature of the cryptocurrency.
BlackRock's control over mining operations does not give them power to move to proof of stake.
History of Ethereum and miners' resistance to proof of stake.
BlackRock's potential difficulty in getting sign off on moving to proof of stake.
🔑 BlackRock cannot force people to use a new version of Bitcoin or any currency unless it is declared legal tender.
💼 BlackRock's ability to force the use of Bitcoin would only apply to US citizens.
❗ The main issue is that BlackRock lacks the power to enforce the use of Bitcoin.
💰 BlackRock's potential investment in Bitcoin raises questions about their motivation and the impact on its value.
🔥 Bitcoin's market dominance and the challenges faced by other versions of the cryptocurrency.
🤔 The possibility of BlackRock prioritizing power over money in their pursuit of Bitcoin ownership.
💡 BlackRock owns a majority of the S&P 500 and seeks to control what they own.
❓ What are the risks and holes in the argument about BlackRock's potential takeover of Bitcoin?
🗣️ The cryptocurrency space is still developing and end users can influence it through their investments.
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