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120 sats \ 7 replies \ @Coinsreporter 10 Jun \ on: I'm Steve Lee, Spiral lead, AMA! AMA
Welcome to SN.
What are your views on Strategy?
I like what Strategy has done to make buying and adopting bitcoin accessible to groups of people and capital that otherwise cannot be exposed to bitcoin. I hope Strategy begins to build useful products that makes bitcoin everyday money and that they fund open source bitcoin development.
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capital that otherwise cannot be exposed to bitcoin.
I wish more Bitcoiners thought the same about strategy. Anyways that's what I like about Strategy.
Is it the same reason you would also like BlackRock and Fidelity?
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Yes I also think BlackRock and Fidelity or good for bitcoin for similar reasons.
As with anything in bitcoin, we always need to monitor any single person or entity that gains too much power to make sure it does not become a threatening centralization point.
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make sure it does not become a threatening centralization point.
How?
You're now telling me you won't like them in future in case... What's a threatening centralisation point?
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I didn't say "I won't like them" I said that they merit monitoring. Just like my own company, Block, and even my small dev org, Spiral, merit monitoring. People in bitcoin should always be vigilant and ensure any naturally-forming centralization point does not grow too large.
The obvious centralization point of a BlackRock or Strategy is if they control millions of bitcoin. In the worst case scenario, bitcoin doesn't evolve into everyday money, the only use case is digital gold, and everyone just buys BlackRock's ETF fund or Strategy. Then all bitcoin is controlled by 2 companies...I think we all know where that ends. They would control the rules of bitcoin and could make changes that are antithetical to the principles of bitcoin.
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Alright you gonna like them forever even if they reach to the threatening point of holding millions of Bitcoins. Haha. Please don't take it hard on you but do you really believe that a company or individual or whatever holding millions of Bitcoin can make changes to principles of Bitcoin? I thought the Whales couldn't affect anything except the fiat price of Bitcoin.