Winklevii Twins preparing the COIN ETF for a chain split!
This the 9th amendment to the COIN ETF Application.
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In the event a developer or group of developers proposes a modification to the Bitcoin Network that is not accepted by a majority of miners and users, but that is nonetheless accepted by a substantial plurality of miners and users, two or more competing and incompatible Blockchain implementations could result. This is known as a “hard fork.” In such a case, the “hard fork” in the Blockchain could materially and adversely affect the perceived value of bitcoin as reflected on one or both incompatible Blockchains, and thus the value of the Trust’s bitcoin.
more:
In the event of an upcoming modification to the Bitcoin Network that could potentially result in a hard fork with two separate and incompatible Bitcoin Networks, the Custodian, in consultation with the Sponsor, will elect to support the Bitcoin Network that has the greatest cumulative computational difficulty for the forty-eight (48) hour period following a given hard fork, in order to engage in bitcoin transactions and the valuation of bitcoin. During this forty-eight (48) hour period and for the twenty-four (24) hour period prior to the anticipated fork, creation and redemption of baskets will be halted.
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So the COIN ETF will go with the long chain. End of story.
The probability of a chain split just skyrocketed. But at least Bitcoin will still get the ETF license which I've always maintained that it was a guarantee.
COIN ETF License is expected next month. If it happens then $10,000 will come fast and furious and we'll probably see $50,000 this year and that's just Bitcoin hitting its stride.
That's crazy talk but it's the new reality.
Live it. Love it.