Recently, BlackRock released an educational video explaining Bitcoin, which I thought was awesome – it’s amazing to see Bitcoin being discussed on such a massive platform. But, of course, Bitcoin
Natural News’ HealthRnager said, “Bitcoin has become too centralized, and now the wrong people largely control its algorithms. They’re telling you upfront what they intend to do.”
Now, let’s be clear: this is complete nonsense. The controversy is overhyped, and the idea that BlackRock would, or even could, change the supply of bitcoin is laughable. The statement in their video is technically true, but it’s just a legal disclaimer. This does not mean that BlackRock is plotting to inflate the supply of bitcoin. And even if they were, they don’t have the power to pull it off.
The maximum limit of 21 million Bitcoins is fundamental: it is not up for debate. The entire Bitcoin ecosystem – miners, developers and nodes – operates according to this fundamental principle. Without it, Bitcoin wouldn’t be Bitcoin. And although BlackRock is a financial giant and holds over 500,000 Bitcoins for its ETF, its influence on Bitcoin is practically non-existent.
Bitcoin is a Proof-of-Work (PoW) system, not a Proof-of-Stake (PoS) system. It doesn’t matter how many bitcoins BlackRock owns; economic nodes hold the real power.
Let’s play devil’s advocate for a moment. Suppose BlackRock tries to propose a protocol change to increase the supply of bitcoin. What happens? The vast network of nodes would simply reject it. The history of Bitcoin proves this. Remember Roger Ver and the Bitcoin Cash fork? He had significant influence and holdings, but his version of bitcoin became irrelevant because most economic players did not follow him.
If Bitcoin could be controlled by a single entity like BlackRock, it would have failed a long time ago. The US government, with its endless money printer, could easily capture 10% of the supply if that was all it took to control Bitcoin. But that’s not how Bitcoin works. Its decentralized nature ensures that no single entity, no matter how powerful, can dictate its terms.
So, stop worrying about BlackRock “changing” Bitcoin. Their influence has strict limits. Even if they tried to push the developers to change the protocol, the nodes would reject it. Bitcoin’s decentralization is its greatest strength, and no one, not BlackRock, not Michael Saylor, can change that.
This article is a Take. The opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.