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Is The ETF Bitcoins Earthquake Mistake?

By CodyMac50 | MyCripticLife | 12 Jan 2024


All Bitcoin ETFs have been approved...and some say, myself  included, that this is a heavy blow to crypto.

Larry Fink wants to control the mining of Bitcoin, and he will stop at nothing to hold more than 51% of the hashrate.

But, can he 'stop it'?

What I know after some serious research is that he can't destroy it even if he wanted to.

Recently I was wrong in believing that having over 51% of the hashrate would be a very bad thing for Bitcoin, thinking that an attack would cause double spending and derail it, causing it to fail.

But the reality is, this is not a very  reasonable scenario.

Yes, there may be some issues for a few minutes, but in short order, after the attack, things would go back to normal.

Plus, BlackRock is in the business of making money, not destroying an asset that could make them hundreds of millions of dollars.

I guess that if BlackRock buys all mining companies, and all remaining Bitcoin on exchanges, and all the hash power, it still wouldn't be in their interest to destroy it...even if they could.

Besides, as many articles and videos have pointed out, there really is no way to destroy the existing Bitcoin Blockchain.

You can copy it, or fork it, but that too doesn't destroy it.

Maybe Bitcoin is the best money after all...

Thanks for reading, and let me know your thoughts below...👇🏻

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CodyMac50
CodyMac50

I'm Cody and will post about anything christian, crypto, and sometimes crazy...


MyCripticLife
MyCripticLife

I was involved with crypto since 2012, but left after homelessness entered my life. Now I am back, (since July of 2020) and ready to live this crypto life!

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