I’ve to name BS on this declare that Michael Saylor is now Bitcoin’s overlord and might single-handedly resolve its destiny. That is simply ridiculous.
Throughout some drama about whether or not MicroStrategy’s valuation is sensible, Vinny Lingham declared Saylor is the second strongest individual in Bitcoin after Satoshi Nakamoto. He argued Saylor can dictate phrases by threatening to dump MicroStrategy’s big bitcoin stash if he does not get his manner.
Whereas questioning MicroStrategy is truthful sport, the notion Saylor controls Bitcoin’s future is intellectually dishonest drama-baiting. Vinny is aware of higher.
Bitcoin is decentralized, permissionless, and primarily based on consensus. No single entity, not even the most important holder, can dictate phrases.
If affect correlated to Bitcoin holdings, the asset would have failed way back. Governments may simply purchase 10% of provide with their printing presses and management Bitcoin — however that is not the way it works.
Saylor cannot drive protocol modifications on Bitcoin. Even when he calls for sure options, node operators maintain the actual energy by implementing consensus guidelines. If Saylor forks Bitcoin to make unilateral modifications, the principle chain persists whereas his fork dies, assuming that might be a shittier model.
We have already seen this play out when early influencers like Roger Ver disagreed with the neighborhood. Bitcoin stored on trucking whereas Ver’s different chain turned irrelevant.
Bitcoin’s complete worth stems from nobody celebration controlling it. If whales may centralise decision-making by shopping for giant parts, the entire experiment would fail. Fortunately, that is unimaginable by design.
So, whereas Saylor offers a precious perspective, his affect has limits. He can’t compel builders or miners or nodes to observe his most popular roadmap. His Bitcoin stack buys him a voice on the desk, not absolute authority.
Irrespective of what number of satoshis Saylor accumulates, he can’t unilaterally impose modifications on a decentralized, leaderless community. Bitcoin derives resilience exactly from stopping such dominance.
So sufficient with this bogus narrative that Michael Saylor is now Bitcoin’s dictator. He is an influential determine, positive — however he does not management Bitcoin’s destiny any greater than you or I do. That energy stays dispersed.
This text is a Take. Opinions expressed are fully the creator’s and don’t essentially replicate these of BTC Inc or Bitcoin Journal.
