BlackRock is planning to fork $55B $BTC!
SEC docs leaked new $BLK Bitcoin fork and what will be with BTC
I spent ~20 hours researching all the data: the info was shocking...
Here is how BlackRock tricks you and what will happen to BTC🧵👇
We put a lot of research and work into this thread for FREE before reading it🙏 🚨
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2/➫ There has been a lot of interesting buzz around BlackRock over the past few weeks
They were selling BTC, accumulating ETH, and now documents have leaked mentioning a BTC fork.
I did some research to figure out what's going on, and the info I found is shocking:
3/➫ First, let's understand what a BTC fork is
A fork is when significant changes are made to its source code
One of the most prominent examples of a cryptocurrency fork is Bitcoin Satoshi's Vision or Bitcoin Cash
Let's dive into the docs now👇
4/➫ The rumors that BlacRock might fork the network after launching an ETF started with this pic
Fork declarations in documents highlight a potential risk mentioned in every BTC ETF filing
In simple terms, this is talking about reworking the $BTC network
6/➫ Now that it's clear this is true, several leading questions immediately arise:
- Is this market manipulation?
- Why is BlackRock doing all this?
- Who will control it?
I found all the answers by doing my research
So let's dive in more:
7/➫ The doc mentioned the following:
'In the event of a BTC hard fork, the Sponsor will, if allowed by the Trust Agreement, use its discretion to determine the appropriate network for the Trust.'
This raises questions because the framework is very vague, which could lead to unpleasant consequences
8/➫ Market Manipulation
BlackRock is a powerful institutional structure, and no matter what anyone thinks, they are trying to take control of the ecosystem
Creating a $BLK fork could cause uncertainty among users regarding the 'original' Bitcoin
This could significantly weaken the principle of decentralization of the crypto market and the market as a whole
9/➫ But don't rush to spread FUD and sell your crypto, cause fork declarations are mentioned in every $BTC ETF doc
Yes, it might happen, but it's unlikely
Many experts are already dispelling this thought, indicating that they might choose a 0-value option in the case of a fork
We put a lot of research and work into this thread for FREE before reading it🙏 🚨
Very Important 🚨 Please follow @Coinaute and 🩷Like + Comment and ✅ Share #binance #MarketDownturn
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