They will probably use Loaded's coins for something within the next 12 months

DaveF

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Quote from: stompix on September 30, 2023, 07:14:34 AM

Loaded coins are a lot gone, there have been two more auctions, and there are less than one-fifth of them left and Blackrock didn't buy any of those. Besides, if they wanted coins they could have gotten those already even without anyone noticing, they own shares along Fidelity in almost every single large mining farm.

And have enough cash on hand to buy however many coins they want. Not to mention most of the time you are more likely to get better pricing by buying on the open market by waiting for a dip then getting at auction. The auction buys tend to be for bragging rights and PR then for better pricing.

-Dave

stompix

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Quote from: takuma sato on September 29, 2023, 10:47:23 PM

They've gotten a bunch of coins with the whole Loaded incident. Whenever they get a big stack you just gotta ask yourself, how are they going to use it?

Drop your tinfoil heat and read the news:
https://www.docdroid.net/cAA99Gw/123-pdf#page=23

Quote

With respect to the 51,351.89785803 Bitcoin forfeited in the Ulbricht case before Judge
Schofield, the Government has begun liquidating (selling) it. On March 14, 2023, the Government
sold 9,861.1707894 BTC (of the 51,351.89785803 BTC) for a total of $215,738,154.98. After
$215,738.15 in transaction fees, the net proceeds to the Government were $215,522,416.83. Of
the Bitcoin forfeited in the Ulbricht case, there remains approximately 41,490.72 BTC, which the
The government understands is expected to be liquidated in four more batches over the course of this
calendar year.

Loaded coins are long gone, there have been two more auctions, and there are less than one-fifth of them left and Blackrock didn't buy any of those. Besides, if they wanted coins they could have gotten those already even without anyone noticing, they own shares along Fidelity in almost every single large mining farm.

The Sceptical Chymist

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Quote from: takuma sato on September 29, 2023, 10:47:23 PM

If you are not up to date with Loaded's coins drama, there's a great video on Youtube about it, just look it up.

Lol....dude, I'm never up to date on anything and have never heard of Loaded. It would have been nice (and good forum etiquette) to drop a link to one of the videos you think explains it the best. You've now got me curious, so I'm a-gonna do some Youtubin' down the muddy river of fuckin' crypto videos. Don't even get me started on how they're all cookie-cutter and click-baity.

You seem to be veering off into conspiracy territory with talk of Blackrock pushing all the buttons for bitcoin. Then again, you could be spot-on, and I also have a strange feeling something bad is going to happen. But what I've learned from previous experiences is that if you've got a feeling like that, what actually happens isn't what you thought it was going to be. We'll see I guess.

franky1

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from what i can remember blackrocks ETF filing says that if there was a fork. blackrock would follow the CoreDevs+NYA group (basically cores code and the economic nodes of major exchanges/pools). so in short there wont be a 'blackrockcoin' thats different to bitcoin

https://www.sec.gov/Archives/edgar/data/1980994/000143774923017574/bit20230608_s1.htm (p24)

Quote

In the event of a hard fork of the Bitcoin network, the Sponsor will, as permitted by the terms of the Trust Agreement, use its sole discretion to determine, in good faith, which peer-to-peer network, among a group of incompatible forks of the Bitcoin network, is generally accepted as the Bitcoin network and should therefore be considered the appropriate network for the Trust’s purposes. The Sponsor will base its determination on whatever factors it deems relevant, including but not limited to, the Sponsor’s beliefs regarding expectations of the core developers of bitcoin, users, services, businesses, miners and other constituencies, as well as the actual continued acceptance of, mining power on, and community engagement with, the Bitcoin network, or whatever other factors it deems relevant.

pooya87

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Quote from: takuma sato on September 29, 2023, 10:47:23 PM

They may also want to get these coins used in a future hardfork civil war, probably after they establish the ETF and want to take control away from the crypto people and put it into the hands of the establishment via "deplatforming" BTC by removing it from exchanges and only allowing "Blackrockcoin".

In a "Fork War" in bitcoin which uses the Proof of Work algorithm, you'd need to have hashrate (mining power), full nodes and the community to follow you. Having a bunch of money and bitcoin is not going to really help in this decentralized network. It might have if bitcoin were using a shitty algorithm like PoS though Wink

Even targeting exchanges won't work because it is not 2011 anymore where 85-90% of the trading volume is in one exchange in one country to be able to have a significant impact on the whole market to have any influence using the price. Today the trading volume of different exchanges is low and mostly below 5 to 10% of the total volume and many of them are not even inside US for Blackrock to have any way of pulling anything like what you speculate.
Besides, market manipulation which is the only thing they can do, is not going to really affect any "fork war" that may or may not happen.

franky1

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Quote from: NotATether on September 30, 2023, 12:13:51 AM

Loaded's coins were seized by the US government, not by blackrock. Of course eventually they are going to want to get the cash value of these coins so they do what they always do when they get an illiquid asset - auction it off. These coins are not going to be any different, although I must question who, as an individual buyer, is going to be able to afford millions of dollars worth of coins.

jimmys 50k cheetos coins might be worth billions but the US gov will split them up into smaller auctionable amounts if they dont get any buyers for the large single lump.. its how auctions work. if no one bids minimum asks the coins are not sold and then a new auction at a later date is set for smaller split lumps

that said, yes large investors that can afford to buy the lumps, could make great discounted bids if they pick the right ask that hits above min ask but has no competing bids

NotATether

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Loaded's coins were seized by the US government, not by blackrock. Of course eventually they are going to want to get the cash value of these coins so they do what they always do when they get an illiquid asset - auction it off. These coins are not going to be any different, although I must question who, as an individual buyer, is going to be able to afford millions of dollars worth of coins.

mk4

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Quote from: takuma sato on September 29, 2023, 10:47:23 PM

They may also want to get these coins used in a future hardfork civil war, probably after they establish the ETF and want to take control away from the crypto people and put it into the hands of the establishment via "deplatforming" BTC by removing it from exchanges and only allowing "Blackrockcoin".

I'm not totally counting this out as technically the chances of it happening are non-zero, but it's quite farfetched imo. I can imagine how much backlash they will be receiving if they decided to start a fork war and that it will be a huge hit for their reputation.

Highly likely that they'll stay totally neutral and just enjoy the fees they'll be earning.

Fundamentals Of

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I'm not looking for any drama so I didn't even take the effort to search for that Loaded's coin video on Youtube. With how you presented it I don't think a great video could be made out of it. That topic itself doesn't sound interesting.

I'm just here to disagree with this hardfork possibility under Blackrock. I don't find it possible for BlackRock to create their very own Blackrockcoin. I know that this institution is manipulative, influential, powerful, and greedy, but I don't think they're stupid enough to create a shitcoin. They must already be aware that all forks of Bitcoin will be a shitcoin and will have a short lifespan.

takuma sato

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They've gotten a bunch of coins with the whole Loaded incident. Whenever they get a big stack you just gotta ask yourself, how are they going to use it?

Timing is key. Blackrock has an incentive to keep accumulating before they launch the ETF, prices are still too high, at these interest rates risk assets like BTC should be lower. They may just drop BTC's price now that's close to key fundamental floors.

They may also want to get these coins used in a future hardfork civil war, probably after they establish the ETF and want to take control away from the crypto people and put it into the hands of the establishment via "deplatforming" BTC by removing it from exchanges and only allowing "Blackrockcoin".

I can see some clusterfuck situation brewing again like we've seen before if you've been here for a minute. You just can predict these things after a while. Not sure exactly when, but something is coming.

If you are not up to date with Loaded's coins drama, there's a great video on Youtube about it, just look it up.

Topic: They will probably use Loaded's coins for something within the next 12 months (Read 100 times)