I’ve to name BS on this declare that Michael Saylor is now Bitcoin’s overlord and may single-handedly determine 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 large bitcoin stash if he does not get his manner.
Whereas questioning MicroStrategy is truthful recreation, the notion Saylor controls Bitcoin’s future is intellectually dishonest drama-baiting. Vinny is aware of higher.
Bitcoin is decentralized, permissionless, and based mostly 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 actual energy by implementing consensus guidelines. If Saylor forks Bitcoin to make unilateral adjustments, 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 stored on trucking whereas Ver’s different chain grew to become irrelevant.
Bitcoin’s complete worth stems from nobody social gathering controlling it. If whales may centralise decision-making by shopping for massive parts, the entire experiment would fail. Fortunately, that is not possible by design.
So, whereas Saylor gives a worthwhile perspective, his affect has limits. He can not compel builders or miners or nodes to comply with his most well-liked roadmap. His Bitcoin stack buys him a voice on the desk, not absolute authority.
Irrespective of what number of satoshis Saylor accumulates, he can not 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 totally the creator’s and don’t essentially mirror these of BTC Inc or Bitcoin Journal.