I’ve to name BS on this declare that Michael Saylor is now Bitcoin’s overlord and may 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 particular person 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 approach.
Whereas questioning MicroStrategy is honest 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 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 adjustments on Bitcoin. Even when he calls for sure options, node operators maintain the true energy by implementing consensus guidelines. If Saylor forks Bitcoin to make unilateral adjustments, the principle chain persists whereas his fork dies, assuming that may 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 various chain turned irrelevant.
Bitcoin’s complete worth stems from nobody celebration controlling it. If whales may centralise decision-making by shopping for massive parts, the entire experiment would fail. Fortunately, that is unattainable by design.
So, whereas Saylor gives a precious perspective, his affect has limits. He can’t compel builders or miners or nodes to observe his most well-liked roadmap. His Bitcoin stack buys him a voice on the desk, not absolute authority.
Regardless of what number of satoshis Saylor accumulates, he can’t unilaterally impose adjustments 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 completely the writer’s and don’t essentially replicate these of BTC Inc or Bitcoin Journal.
