Topic: Will Blackrock control BTC? - page 2. (Read 814 times)

That's what you think, now let me tell you a little about what control is all about, Blackrock doesn't need to own the blockchain or claim bitcoin to their name or even have the power to change the way bitcoin has been operating but all they need to do is have enough power to influence the market,  price and if they ever get to own enough bitcoin they could well start controlling supply and demand of bitcoin and as we know it or decided to turn a blind eye on it that is their aim and don't think big players come in to be benefactors they come in to have power in the game and soon that power would forever leave the hands of retail investors to their hands or rather It has already left long ago, remember when Grayscale literally caused a dip by selling massively didn't that give you an idea of what they can do owning such percentage of bitcoin. From this moment on we should have in mind that bitcoin can be manipulated, and don't think Blackrock just had interest in bitcoin without having some motive of their own, think again.


Like someone who actually gets this, very soon it would big players vs retail investors and I Don think we have that power to play that game, they could cause a dip that can shake everyone's hands and raise the price up so high, just by manipulating the supply and demand of bitcoin besides that have the quantity to do so.

The only way I see that this might not happen is if they are afraid to lose their holdings to other big players that would be more than ready to by what they have sold. That way we could have quite the balance but this would only work when they are two companies have equal shares of bitcoin or almost same amount.

They're more into the actual holding of more supplies than ever and it has been planned by them. They'll start to have big influence over the market by doing so.

I'm afraid that this might result into actual manipulation where in we've been talking about manipulation years ago and now this might come into reality that we know some institution that can actually do the thing.

Bitcoin isn't a stock, and it isn't as if they can push their liberal agenda by voting their proxies and controlling companies' board rooms and such if they buy a whole bunch of bitcoin.  I don't see a huge risk to the bitcoin community in general but a risk to Blackrock if they somehow bought so much that they painted themselves into a corner, i.e., they wouldn't be able to sell it all if they needed to without crashing the market.

I'm way more concerned about them owning too much stock in too many companies.  That wouldn't trouble me at all if I didn't detest their politics and their ability to influence corporations to toe the line when it comes to DEI and who knows what else.  As far as bitcoin or any other cryptocurrency goes, let 'em buy all they want.  It'll either be bad for them or really good for us.

How much do they own right now? 1% of the supply?
Why are you worrying about them controlling bitcoin if they don't even and probably never will own more than 10% of the supply?

Let's speculate though. What makes you thing that controlling 50% of the supply makes anybody gain control of bitcoin. You gain control over the price, but you have no control over nodes and the other 50% of bitcoin owned by private investors. Buying bitcoin does not make you buy the network. Blockchain and nodes don't discriminate. You can have 1, or 1 million bitcoin and you're treated equally.

A person or an organization holding a certain percentage of the total supply doesn't give them control over the cryptocurrency or its network, so even if Blackrock holds a large amount of Bitcoins, they wouldn't be able to control it, if you talk about the market manipulation, they might be able to do that if they move all their assets in the market and then use them to create buying or selling walls with them but that isn't going to happen because that is not what they are hoarding Bitcoins for.
So I don't find anything concerning in this. Maybe you heard about the 51% attack but that is done through mining and not by holding Bitcoins and that is a different thing and it is not easy for any firm to gain access to 51% or more mining power.

At first, I was happy that the US Secretary of State approved the bitcoin spot etf recently. But after a few months of approval from the institutional investors who gave their applications, I felt worried that the time might come when all or most of the bitcoins will be the ones who hold them and only a few investors like me who are not rich enough to hold them.

But I discovered that it will not lead to that because there are still more investors who save bitcoin for the long term to hold them for a few years for the future of their loved ones. In short, I don't believe that whale investors can control Bitcoin because they are regulated business types, and we know that one of the best features that Bitcoin has is that it actually has decentralization.

Market capital has increased to a large extent due to ETFs. Moreover, the total assets of investment platforms like Blackrock are more than the total cap of current cryptocurrencies. As far as I know their total assets are around 9 trillion while the current crypto assets are around 2.89 trillion. So we can assume that they can turn it bearish or bullish if they want. But no one has the power to control Bitcoin. Investing more can change demand but never control the entire network or Bitcoin. We expected a correction especially when Bitcoin overcome previous all time high but the market is still in a positive trend mainly due to the effect of ETFs. Halving and ETFs are going to have a big impact on the market in 2024.

There are no people controlling the BTC network.
'Governed' is the wrong word to use, the BTC network is not governed by anyone, there are no stakeholders. Miners, developers, etc, do not govern the network, they are a part of the network and everyone is free to be a part of it. It is also worth mentioning that miners do not validate tx's, it is nodes that validate tx's, while miners confirm tx's.

   Bitcoin cannot be controled by Blackrock. Blackrock is the world's largest asset manager,which makes available investment advice and risk management solutions to agencies,big firms and business associates involving trust to it's clients.
   
   Blackrock involving in Bitcoin are share holders, that is they are investors,since they are investors does not mean they will control Bitcoin because Bitcoin already has people controlling it.

   Bitcoin is been governed by several stakeholders which includes miners,developers and the users.
Developers are responsible for the writing of the code that makes Bitcoin run, miners validate transactions while the users make the software to work which involves trading,transacting, holding and several others.

   Blackrock ETF is a special type of ETF trails the price movement s of Bitcoin and for you to invest in Blackrock Bitcoin ETF, means you have to buy shares with money giving room for traditional and regulated means gaining attention to cryptocurrency market .

If retailers continue to sell Bitcoin because the offers made by institutions are becoming more aggressive, then in terms of ownership Blackrock will definitely control it, just like gold when Blackrock entered. Sometimes I also feel skeptical about releasing Bitcoin ownership on the market and then it falls into the hands of institutions, but that is only our concern because if we sell it we will not get the same price as when we bought it, thus cornering other parties in this case Blackrock, even though it is possible Blackrock intentions are good to facilitate investors who want to invest in Bitcoin but store it using a third party, as a result Blackrock provides an ETF solution to bridge institutional investors to Bitcoin. So Blackrock is just the front and what you need to worry about are the people or investors in it.

What do you mean by "control"? Do you think that Blackrock will decide which BTC transaction on the BTC blockchain will get approved and which one will be denied? This simply cannot happen. Having a large amount of BTC or owning lots of BTC mining capacity doesn't mean that you own and control the Bitcoin blockchain. Why would Blackrock want to control Bitcoin? What's their benefit from this "control"? If Blackrock manages to pump the BTC price to 150K or more, this would be a great benefit for them, but it will also be a great benefit for all the Bitcoin HODLers as well. Do you really think that Blackrock would want to crash the Bitcoin price, just because they want to "control" Bitcoin?

This people are smart, I don't think that they will just off load their shares and sell and panic the market. On the other hand, they will continue to buy. But I don't think that they can control it, Bitcoin market is too big already. It's open 24x7 and it's more on the retail investors who buys and sells Bitcoin at any point in time.

Maybe they will take profits for their clients and for themselves. But with the incoming bull run, I think the case will be is to buy and then HODL and we will see what's going to happen in 2025 when we hit the top price.

Is true though and coinbase have been in war with them for quite a while. I believe that the exchange will win with any allegations that come in. That's why I just use Bitget that is on the surface with no issues, you know to be on the safer side and watch what these men are doing


I can't deny that either. The day I sent this news, I had been watching BTC for a while, following my instincts because I knew it would rise. I just wait for a particular price it will retrace then set my long.

Honestly, I have been enjoying this bullish trade with the event I mentioned and I hope to get the 30K prize as promised. Aside from this, I won't keep my guard down on these men still but I believe what y'all said

Binance is not only target of governments but the exchange is one of most favorite targets because it is big and has good income. Governments aim at Binance with hope that they will bargain money from Binance exchange.

You see they tried to suit other big exchanges like Coinbase, Kraken, Kucoin and more, not only Binance.

They want money from business tax of those exchanges and if they win lawsuits against centralized exchanges, very first money they get will come from lawsuit fine fees.

I think what you mean with this situation is that they have major shares that if decided to unload their holdings, would be impactful within the market. I think if BlackRock decides to just HODL it, it would be ideal for the community because it for sure, wouldn't be sold. It's just the assurance that we all will see.

Unless something were to happen, it would stay at its is. I think that would be the case.

For my view, this Blackrock is undeniably one of the whales in the market that can affect the movement of the market in the price value of Bitcoin, but it doesn't mean that it can control Bitcoin; it is unclear what will happen in reality.

First of all, how can Blackrock control Bitcoin because the nature of Bitcoin is decentralized while this Blackrock is under government regulation, right? That means no single entity controls it. It's game over here. The only thing I see Blackrock doing is that it will help raise the liquidity of bitcoin in the market.

Well, for obvious reasons. To control people's money. Why do you think the governments are against us using the exchange to save our money? and why do you think Binance is always their target?

But is true that what we have always been after is the manipulation of price but these big men "most,"  are too greedy. They might think they have won, but is good to know that other good exchanges like the one I mentioned are in existence so I don't think they will have much power after all


This too. I'm not gonna lie but I have made a good profit from these ETFs types specifically from that Welcome to bull run event I joined. Imagine BTC getting to 72K when is not yet gotten to its halving stage all we need to do is long the market and leave sooner even the halving date is so close

But my question is why do they need to control the bitcoin network ? They are an investment fund and their main goal is profit so they will manipulate the price of bitcoin and that is what they want . I think they don't care about the bitcoin network or the outstanding features of bitcoin like decentralization or privacy...what they want is just the price of bitcoin and how they can make maximum profit from it.
We always talk about the bitcoin revolution, the decentralization of bitcoin, but what we care about most is the price of bitcoin, we are just like them but not too many people dare to admit this.

The worst that Blackrock can do to Bitcoin is to sell their bags. That would drag the price down hard, but Bitcoin would bounce back in a short time. The ones who would be tragically affected would be the people who bought their ETFs. But such a scenario is unlikely. Possible, but unlikely.

The faith in Bitcoin might take a hit too, so there might be a crypto winter if something happens to the other institutions.

But even if all that were to happen, I still would not sell my bitcoin for fiat.  

I just read that Blackrock does have more than Microstrategy. If I'm not mistaken they have 195,985 BTC. They are currently one of the largest owners of Bitcoin. So to make it centralized to be able to control Bitcoin does not seem to be possible. Because large Bitcoin holdings are still in a separate state. But I feel confident that every Blackrock fundamental can affect the atmosphere or movement of Bitcoin. But I have hope that when large institutions have entered bitcoin can maintain value for the better.