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 smart, 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 method.
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 biggest holder, can dictate phrases.
If affect correlated to Bitcoin holdings, the asset would have failed way back. Governments might simply purchase 10% of provide with their printing presses and management Bitcoin — however that is not the way it works.
Saylor cannot pressure protocol modifications on Bitcoin. Even when he calls for sure options, node operators maintain the true energy by imposing consensus guidelines. If Saylor forks Bitcoin to make unilateral modifications, the primary chain persists whereas his fork dies, assuming that will be a shittier model.
We have already seen this play out when early influencers like Roger Ver disagreed with the neighborhood. Bitcoin saved on trucking whereas Ver’s various chain grew to become irrelevant.
Bitcoin’s whole worth stems from nobody celebration controlling it. If whales might centralise decision-making by shopping for giant parts, the entire experiment would fail. Fortunately, that is inconceivable by design.
So, whereas Saylor supplies a helpful perspective, his affect has limits. He can not compel builders or miners or nodes to comply with his most popular roadmap. His Bitcoin stack buys him a voice on the desk, not absolute authority.
Regardless of what number of satoshis Saylor accumulates, he can not 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, certain — 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 solely the writer’s and don’t essentially mirror these of BTC Inc or Bitcoin Journal.
