This claim is a sham. Michael Saylor Bitcoin is the overlord of all. He can decide Bitcoin’s fate. It’s ridiculous.
Vinny Lingham, a MicroStrategy employee who was involved in a debate about the valuation of MicroStrategy at that time, explains why it makes no sense. declared Saylor, after Satoshi Nakamoto, is Bitcoin’s second-most powerful figure. He claimed Saylor has the power to dictate terms because he can threaten MicroStrategy’s huge bitcoin stash, if they don’t comply with his wishes.
While questioning MicroStrategy It’s not fair to say that Saylor has control over Bitcoin. This is a form of dramatization. Vinny is a smart guy.
Bitcoin is decentralized and permissionless. It relies on consensus. The terms of the Bitcoin network cannot be dictated by any single entity.
The asset would not have survived if influence was correlated with Bitcoin holdings. Governments could easily acquire 10% of supply with their printing presses and control Bitcoin — but that’s not how it works.
Saylor cannot force Bitcoin to change its protocol. Node operators are the ones who have real power, even if Saylor demands specific features. They enforce consensus rules. Saylor could fork Bitcoin in order to unilaterally make changes. However, his fork would die, and the main Bitcoin chain would continue.
This has already happened when influential early members of the community, like Roger Ver, disagreed. Bitcoin remained on track while Ver’s alternate chain was rendered irrelevant.
Bitcoins value is derived from the fact that no single party controls it. Whales buying in bulk would centralise the decision making process, and this experiment will fail. This is by design impossible.
Saylor has a limited influence, so while he offers a unique perspective, it is not without limitations. It is impossible for him to force developers, miners or other nodes into following his roadmap. He can buy a voice, but not absolute power with his Bitcoins.
Saylor, however many satoshis he may accumulate, cannot unilaterally enforce changes to a leaderless decentralized network. Bitcoin’s resilience comes from its inability to be dominated.
Let’s stop this false narrative about Michael Saylor being Bitcoin’s new dictator. He’s an influential figure, sure — but he doesn’t control Bitcoin’s fate any more than you or I do. The power of Bitcoin is distributed.
This is not a good article. Take. The opinions expressed by the authors are their own and not those of BTC Inc. or Bitcoin Magazine.
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Source: bitcoinmagazine.com
