Cryptocurrency Q&A
Could Blackrock convince other miners to freeze bitcoin?
Could Blackrock convince other miners to freeze bitcoin?
Carolina
Tue Jul 16 2024
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6 answers
1615
In the realm of cryptocurrency and finance, the question arises: Could Blackrock, a hypothetical entity with significant resources and influence, actually convince other miners to freeze the operations of Bitcoin? This is a pivotal inquiry, considering the decentralized nature of Bitcoin's network and the inherent independence of its miners. Would Blackrock's financial prowess or technological prowess be enough to sway the miners, who are typically motivated by economic incentives and the freedom of the blockchain? Could they overcome the ideological barriers that many miners hold dear, such as the belief in the unalterable nature of Bitcoin's ledger? This question delves into the core dynamics of cryptocurrency governance and the potential power of concentrated influence in a decentralized system.
6 answers
DongdaemunTrend
Thu Jul 18 2024
The prospect of BlackRock convincing a widespread audience to support its agenda seems remote.
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WhisperInfinity
Wed Jul 17 2024
As a result of the Cantillon effect, miners stand to be the first recipients of any inflationary gains in Bitcoin.
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DondaejiDelightfulCharm
Wed Jul 17 2024
Beyond a narrow minority, the consensus is unlikely to materialize.
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SamsungShineBrightnessRadianceGlitter
Wed Jul 17 2024
In this context, a subsidy freeze could be seen as a safeguard against future dilution of their earnings.
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CryptoSavant
Wed Jul 17 2024
However, there may be a segment of miners who would find the proposal appealing.
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