Recently, BlackRock Educational video released video explaining Bitcoin, which I thought was great—it’s amazing to see Bitcoin being discussed on such a massive platform. Bitcoin X, on Twitter, had a lot of followers. meltdown You can select a specific video line: “There is no guarantee that Bitcoin’s 21 million supply cap will not be changed.”
HealthRnager is a Natural News product. claimed, “Bitcoin has become far too centralized, and now the wrong people largely control its algorithms. They are TELLING you in advance what they plan to do.”
This is complete nonsense. The controversy is overhyped, and the idea that BlackRock would—or even could—change bitcoin’s supply is laughable. It’s technically correct, but the statement is merely a disclaimer. This does not mean that BlackRock has a plan to increase bitcoin’s availability. They don’t even have the ability to carry it out.
Bitcoin’s 21 million cap is fundamental—it’s not up for debate. The entire Bitcoin ecosystem—miners, developers, and nodes—operates on this core principle. Bitcoin is not Bitcoin without this core principle. BlackRock, a giant financial company that holds more than 500,000 Bitcoins for its ETF has virtually no influence on Bitcoin.
Bitcoins are a cryptocurrency. proof-of-work It is not proof-of stake (PoS). No matter how many bitcoins BlackRock has, economic nodes are the ones who hold real power.
For a minute, let’s be the devils advocate. Let’s say BlackRock proposes a change in protocol to increase the supply of bitcoin. What will happen? What happens? Bitcoin’s past proves it. Bitcoin’s history proves this. Roger Ver And the Bitcoin Cash Fork? His version of Bitcoin became obsolete because most economic actors did not follow him, despite his significant holdings and influence.
Bitcoin would have failed long ago if it could only be controlled by one entity, such as BlackRock. If the U.S. Government, which has an endless supply of money, wanted to control Bitcoin, it could easily obtain 10%. Bitcoin does not work like that. Its decentralized nature ensures no single entity—no matter how powerful—can dictate its terms.
Stop worrying about BlackRock “changing” Bitcoin. The influence of the Bitcoin community is limited. Nodes will reject any changes they try to make to the protocol. Bitcoin’s decentralization is its greatest strength, and no one—not BlackRock, not Michael Saylor—can change that.
This is not a good article. Take. The opinions expressed here are those of the authors and not BTC Inc. or Bitcoin Magazine.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: bitcoinmagazine.com
