Comment on BlackRock’s Bitcoin Scheme: How Wall Street Giants Are Bilking Poor People Out of Money
db2@lemmy.world 1 week ago
Even if they do have 90% that’s not what centralization means. It doesn’t work like dollars.
Also at least 10%, maybe even 20% or somewhere between the two, is burnt. Inaccessible.
Blackcock and others are absolutely fucking around criminally, but if you’re going to try to report about it you should at least bother to get the basics right. Ignorance is one of the reasons they’re able to get away with this crap.
rf_@lemmy.world 1 week ago
What does centralization mean then? Those numbers look pretty concentrated to me.
YesButActuallyMaybe@lemmy.ca 1 week ago
But but but muh blockchain is decentralized… as if a hostile actor with enough resources couldn’t just take control.
In this context it means that although Blackwood holds 90% they still rely on ‘third’ parties to validate and accept transactions
db2@lemmy.world 1 week ago
Nobody said that couldn’t happen. It has happened in fact, to a fork shitcoin. Everyone knew immediately and it lost trust, it’s relatively worthless now. Blackrock won’t undercut themselves that way. They’re psychotic narcissistic parasites but they’re not stupid.