New Ackman tweet just dropped

(Seriously)

So… they’re going to buy control of the core devs.

Gonna have to take a closer look at these groups.

Sus af.

🐻

Ok, skimmed through a few of these ETF filings

Each is pretty comprehensively listing potential risks,

All mentioning some kind of “core developer highjacking”, to “manipulate how data is recorded on the blockchain”

BUT

What major risk do they all seem to skip?

Not the risk of developer highjacking changing how data is recorded on the blockchain.

Rather the dual risk,

= the hijacking of control to PREVENT the code from being changed.

Specifically, in one critical place,

= Neutering the ability to fire the miners

= Neutering Bitcoin’s nuclear button, which involves changing the PoW code.

I.e. Hijacking of control over dictating the dominant fork, so as to neuter the ability of the community to switch to a fork that fires the miners, should the miners sufficiently misbehave.

Eliminate the ability to fire the miners, suddenly everything changes.

Today, the invisible hand of the nuclear firing option has the miners by the balls.

As learned through the many Communist failures, such an invisible hand can be even more powerful than the strongest governments.

But, neuter that nuclear firing option, suddenly everything would change. Suddenly the governments would be the bigger threat to the miners. Suddenly the governments would gain real control over block contents.

How might governments force the community to stick with a certain fork, making the miners unfireable?

Perhaps, by way of the ETFs…

Only one blockchain today has a substantial, dedicated, massively-penalizable PoW network.

Must prevent the neutering of Bitcoin’s nuclear button.

🐻

“basedness does not triumph by convincing its opponents and making them see the light,

but rather because its opponents eventually die from cringe of being depicted as soyjacks,

and a new based generation grows up that is familiar with it”

- Max Planck

wtf 1971

Many flips

GM