No, BlackRock Can't Change Bitcoin
Recently, BlackRock released an educational video explaining Bitcoin, which I thought was greatit's amazing to see Bitcoin being discussed on such a massive platform. But, of course, Bitcoin X (Twitter) had a meltdown over one specific line in the video: "There is no guarantee that Bitcoin's 21 million supply cap will not be changed."
HealthRnager from Natural News 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."
Now, let me be clear: this is total nonsense. The controversy is overhyped, and the idea that BlackRock wouldor even couldchange bitcoin's supply is laughable. The statement in their video is technically true, but it's just a legal disclaimer. It doesn't mean BlackRock is plotting to inflate bitcoin's supply. And even if they were, they don't have the power to pull it off.
Bitcoin's 21 million cap is fundamentalit's not up for debate. The entire Bitcoin ecosystemminers, developers, and nodesoperates on this core principle. Without it, Bitcoin wouldn't be Bitcoin. And while BlackRock is a financial giant and holds over 500,000 Bitcoin for its ETF, its influence over Bitcoin is practically nonexistent.
Bitcoin is a proof-of-work (PoW) system, not a proof-of-stake (PoS) system. It doesn't matter how much bitcoin BlackRock owns; economic nodes hold the real power.
Let's play devil's advocate for a second. Say BlackRock tries to propose a protocol change to increase bitcoin's supply. What happens? The vast network of nodes would simply reject it. Bitcoin's history proves this. Remember Roger Ver and the Bitcoin Cash fork? He had significant influence and holdings, yet his version of bitcoin became irrelevant because the majority of economic actors didn't follow him.
If Bitcoin could be controlled by a single entity like BlackRock, it would've failed a long time ago. The U.S. government, with its endless money printer, could easily acquire 10% of the supply if that's all it took to control Bitcoin. But that's not how Bitcoin works. Its decentralized nature ensures no single entityno matter how powerfulcan dictate its terms.
So, stop worrying about BlackRock "changing" Bitcoin. Their influence has hard limits. Even if they tried to push developers to change the protocol, nodes would reject it. Bitcoin's decentralization is its greatest strength, and no onenot BlackRock, not Michael Saylorcan change that.
This article is a Take. Opinions expressed are entirely the author's and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
Read more: https://bitcoinmagazine.com/takes/no-blackrock-cant-change-bitcoin-
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