RE: RE: dOn'T pUt vOlaTiLe aSSeTs iN yOUr rEtIreMEnt aCCouNt!
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RE: dOn'T pUt vOlaTiLe aSSeTs iN yOUr rEtIreMEnt aCCouNt!

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1y

"It's antifragile just like life itself."

Life is utterly dependent on a couple things, that, if disrupted, would eliminate all life on Earth. BTC is utterly dependent on one thing, the physical network owned by BlackRock. BTC, and the internet, and each individual voice on the internet, exist at BlackRock's pleasure, and one at at time or all together, Larry Fink's whim could silence them. Life on Earth can be destroyed if the integrity of the Earth is disrupted physically, which hasn't happened in >4B years, but could. There is a risk.

But BTC is dependent on the whim of Larry Fink, the current BlackRock CEO. The network doesn't have to lose physical integrity for BTC to fail. It just has to refuse to transmit BTC transactions, and censorship is one of the easiest things in the world to do, apparently, since it happens all the time. But those are at different scales, and not at all pan-global. Also, various regulators interfere with network transmissions all the time too, and have forced KYC on the CEX's. I agree this strongly suggests the legacy financial people intend to keep BTC around, for now. But they could shut any single HODLer down at any minute without consequence, even Roger Ver. The finesse and granularity with which censorship can be applied is all but infinite.

It is ludicrous to suggest people that don't own that physical network are some kind of force of nature that can prevent that network from doing whatever the hell Larry Fink wants it to. It's also silly to compare BTC to terrestrial life, because being dependent on Larry Fink's whim to exist isn't comparable to the resilience of terrestrial life, or it's dependence on the physical integrity of the planet.

My confidence in the status quo, and Larry Fink, is pretty low, unlike my confidence in the integrity of planet Earth. If you're betting it all on BTC, you're betting it all on Larry Fink's permission. I don't think you have any hold on him, or any clue what he intends to do, or what those he answers to have in mind. I've worked too hard for stuff I don't have anymore to take that kind of risk with the stuff I still do.

There is a risk that Larry or his bosses have something in mind for BTC that will extort you with your valuation of your holdings. If they tell you that you can only exchange your BTC for mealworm burgers and Nestle brand water, you'll probably roll with it, since you won't be able to do anything about it, and that's a lot of bugburgers and water, after all. They're not going to offer me anything for my non-holdings of BTC either. But I don't want any bugburgers so I'll be growing my own food, because I'm investing in that instead of BTC. Seems like a fool's gambit, if you trust Larry Fink.

I don't. Good luck.

@valued-customer: "It's | Ecency