My top 3 list of the most influential actors that 'could' harm Bitcoin
This is my top 3 list of whom, IMO, are today's most influential actors in the #Bitcoin arena
This is my top 3 list of whom, IMO, are today's most influential actors in the #Bitcoin arena, the list is based on previous actions and capacity to harm the ecosystem due to their resources and influence in the space.
Number 1 : Elon Musk
Reasoning: Supporting a meme coin and trolling the ecosystem. Trying to create the American WeChat and portraying himself as a protector of freedom of speech. Admired and loved by millions.
Potential impact: High, he continues to support the meme coin #DOGE moving attention and investors away from #Bitcoin, proof of that is his recent statement of the creation of a new “Department Of Government Efficiency” (D.O.G.E), which has a clear comical correlation to the meme coin and busted its price considerably as soon as he mention it. It can get worst, he could, in the near future, create his own token for X with the support of deep pockets and the government. Considering that we are still early and many people around the world still see #Bitcoin as a risk asset, creating one in X will have immediate use case and challenge p2p cash use case from the get go, where Meta failed, X may succeed... Let’s not forget he is, as of today, the wealthiest individual in the world and one of the most influential.
Number 2: Jack Dorsey
Reasoning: Known for his history as Twitter CEO during the crusade against freedom of speech, cancelation of critical thinkers and even a president of USA, the behavior of Twitter was reprehensible while Jack was the CEO. I never thought that a company could behave that way and survive. It was unreal and the outcome so far has zero legal accountability, twitter leadership basically gaslighted a large amount of the population, supported political propaganda to one party with no neutrality, supported an experimental drug that is still harming people and didn’t let experts and doctors to debate and discuss and not one of those individuals blocking accounts and censoring critical thinkers was made accountable so far, eye opening in many ways for those that at that moment still believed that USA respected freedom of speech...
The controversy grows, back in Nov 2023, supported a mining pool that censored whirlpool from Samurai wallet, Samurai dev reached out to Jack to explain the issue and ask for his assistant to correct the issue [0], no action was taken, old habits die hard... And the cherry of the pie, he funded FiatJaf (Brazilian citizen which Business Insider named as Giovanni Torres Parra in an article [1]) whom applied for a grant looking for funding to spam Monero #XMR networks to make the network slow and costly so more funds would move to #Bitcoin and #LN [2]... This project and idea from the get-go is reprehensible, you may not like another project but to spam it intentionally affecting thousands of people’s investments and savings should be illegal...
On the positive side, Jack has been funding and proactively working on the #Bitcoin mining decentralization. His funding of #Nostr [3] is a sign that he may has changed his tune by showing signs of being in favor of freedom of speech, back in Dec 2022, in an interview he apologized for his Twitter moderation choices, saying he did the “wrong thing for the internet and society”. [4]
Potential impact: Very high, already inside the community, a record of bad actions, vast resources, head of Cash App, admired by most in the community and hence able to misguide the community into a path that could eventually make Bitcoin a failure of a project in the future with the proposal and financial support of a hard fork introducing additional censorship and less privacy in one way or another.
Number 3: Blackrock
Reasoning: No need to explain much, they join the train and... After so much hate and media propaganda against #Bitcoin during the last 10 years, it is logical to assume that they join the movement to fight from inside trying to affect it and transform it into something else, pure speculation, time will say.
Potential Impact: Supernova. As I explain in my article about the #Bitcoin ETF [5], they have the resources to attempt to change the direction of its development for it to become a less appealing asset over time. They have a large stake in some of the largest mining farms as well... Do the math, it looks like a hostile take over and that may not end well. You may think they are highly invested, but their allocation into the asset is marginal in their balance sheets. Again, just my opinion, but, if history and patterns teach us lessons, not a good look.
Final Thoughts
Stay humble says someone, never more important...
Activist Critical Thinkers in the space are needed, #Bitcoin for many years has been a space with many of them, the list was long, but little by little I observe a change, produced by time + age + money, many of those libertarians are now retired millionaires, or entrepreneurs absorbed by the fiat system and therefore have changed their tune. I thought we will have a new generation, motivated, smarter, ready to take over, but so far, all I see, with few exceptions in the #Nostr side of the equation, is more corporate fiat system acolytes.
You liked the article? Make my day brighter!
Like, subscribe and share!
Last but not least, the following link is an unstoppable domain, it will open a page in which you can perform an anonymous contribution to support my work:
https://rodswallet.unstoppable/
The link didn’t open?
To open the link you need to use a best in class browser that supports web3, two are recommended: Brave Browser and Opera Browser
Are you a member of the decentralized #Nostr ecosystem, consider zapping me anonymously:
rod@npub.cash
