re: Official CryptoTalk Thread

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But BlackRock owns the SEC.

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Something stinks about this whole move by Black Rock. I can't copy the link from Crypto News but here is an exerpt...

Seasoned cryptocurrency advocate and expert Chris Blec published an eccentric theory about the true motivation behind the launch of BlackRock Bitcoin-based exchange-traded fund. However, one statement in BlackRock's filing might prove his theory.

PoS for regulators, PoW for El Salvador: Chris Blec shares counterintuitive take on BlackRock Bitcoin ETF
BlackRock, a $10 trillion investing heavyweight, might be requesting Bitcoin (BTC) ETF approval, being interested in supporting its PoS fork. Its hypothetical proof-of-stake network, developed as an example of eco-friendliness and regulatory compliance, might lead to BlackRock's dominance in the Bitcoin (BTC) segment.

Blackrock:* Runs first and largest BTC ETF* Becomes wildly successful* Heavily funds Bitcoin development* Proposes “regulatory & eco friendly” PoS fork* Loses community opinion but adopts fork as “Bitcoin” anyway (as do most govts)* PoW fork just for pirates & El Salvador

— Chris Blec (@ChrisBlec) June 16, 2023
This theory was shared by crypto influencer Chris Blec with his 48,700 Twitter followers. To achieve this dominance, BlackRock might be interested in providing Bitcoin (BTC) development with heavy funding.

Then, even if it fails to persuade the community of the benefits of Bitcoin 2.0 on proof of stake, BlackRock will be able to adopt the new network as the only "legit" Bitcoin (BTC) standard.

It is stated in the BlockRock filing that its team reserves the right to choose which network is the only appropriate one. Also, it is specified that it should not necessarily be the most valuable fork of the largest blockchain.

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As covered by U.Today previously, some key experts doubt the fact that BlackRock is serious about its Bitcoin ETF ambitions that have been widely discussed in the media in recent days.