How would Blackrock benefit if they fork BTC?

[pawel7777]

Besides Blackrock getting free money from the forked coins, how else will the benefit from forking BTC?

I read the headline news saying its possible that the investment management company will try to fork Bitcoin. With this, its obvious they control the forked coins right? Itd be interested to knkw what you can say if they really do this.

I wouldn't worry about that too much. First of all, Blackrock does not hold any bitcoins, they use custodian, Coinbase. So it's coinbase that would end up holding all the coins from the new fork. And I don't suspect the distribution of forked coins would be covered in the contract between Blackrock and Coinbase.
Other thing: Blackrock holds bitcoins on behalf of their clients. So if there was a big fork on the horizon and Blackrock was to benefit from it without passing the extra income to its investors - those investors could choose to dump the shares in Blackrock's ETF and either choose another provider who would share forked coins or they would purchase bitcoins directly.

[bitmover]

Itd be interested to knkw what you can say if they really do this.

Should Blackrock decide to perform a fork on Bitcoin, the company would be in a position of control and authority over a fresh blockchain and its tendencies, including any decisions made in relation to it. This could lead to more assets under management since they could offer a new investment security to clients.

Not much to be in authority over if nobody uses your chain, innit?
o

Blackrock would need mining power to fork bitcoin  and maintain it. Otherwise it would just be a dead fork...

However,  they could maker an alliance or partnership with other big players to try to impose their fork if they have the mining power.

[pawel7777]

Blackrock would need mining power to fork bitcoin  and maintain it. Otherwise it would just be a dead fork...

Not necessarily. They could fork off and change the algorithm at the same time, i.e. to PoS, which would not require any mining power.
And, in this hypothetical scenario, if they were to create a fork just to make a quick profit by dumping forked coins, then they wouldn't be very concerned about maintaining the network at all, at least not in the longer run.

[Hamza2424]

Besides Blackrock getting free money from the forked coins, how else will the benefit from forking BTC?

I read the headline news saying its possible that the investment management company will try to fork Bitcoin. With this, its obvious they control the forked coins right? Itd be interested to knkw what you can say if they really do this.

Hmm, I'm sure they won't try to fork, it as they already know about the forking history of Bitcoin with the BCH, news is just to create hype and put all fantasies in order to grab some views for the page. What kind of facts support this, that forking is going to happen, I'm sure those who invested in BTC are not dumb, they already know it doesn't matter if Bitcoin will remain Bitcoin.

It is not practical do you think the SEC will allow Blackrock or anyone else with ETFs approved to manipulate people with such forks, nope, its high time there will be strong legal actions against them if they do say.

[bitmover]

Blackrock would need mining power to fork bitcoin  and maintain it. Otherwise it would just be a dead fork...

Not necessarily. They could fork off and change the algorithm at the same time, i.e. to PoS, which would not require any mining power.
And, in this hypothetical scenario, if they were to create a fork just to make a quick profit by dumping forked coins, then they wouldn't be very concerned about maintaining the network at all, at least not in the longer run.

This would be a completely different coin. Would have absolute no community support (and a fork need some support at least).
They would just waste money..

They are already making a lot of money in btc the way it is

[target]

Besides Blackrock getting free money from the forked coins, how else will the benefit from forking BTC?

Blackrock and few other companies literally own everything in the world, so they surely won't miss doing some big market manipulations with Bitcoin.
They can always crash the price to lowest price ever, wait for most people to sell all their coins, and than after few years buy all coins and pump the price again.
Inspecting ownership structure of Blackrock, Vanguard and similar companies will show you who actually owns everything and who creates most of the wars and chaos in world.

I also heard they own Ukraine already since they are incharge for rebuilding the country after the war. If they almost own everything, its possible they also own the regulators, I remember none of the ETFs were approved until Blackrock filed their Bitcoin ETF. It is as if they are the ones the SEC is waitin for.

If they control the mining companies because they bought up the shares of those mining companies then basically they can control crypto market. All they need is capture BTC.

[pawel7777]

This would be a completely different coin. Would have absolute no community support (and a fork need some support at least).
They would just waste money..

They are already making a lot of money in btc the way it is

Correct, I think we're just having a theoretical discussion here on a thing that's very unlikely to happen.
Anyone can create multiple forks every day, but with no community interest nor any solid justification for creating a fork, such new coins would be indeed worthless.

[NotATether]

I also heard they own Ukraine already since they are incharge for rebuilding the country after the war. If they almost own everything, its possible they also own the regulators, I remember none of the ETFs were approved until Blackrock filed their Bitcoin ETF. It is as if they are the ones the SEC is waitin for.

If they control the mining companies because they bought up the shares of those mining companies then basically they can control crypto market. All they need is capture BTC.

Well, good luck with that then, because they will need it!

As an anonymous person on Bitcointalk wrote: "We are the new wealthy elite." Most of the old Bitcoiners have already established a large fortune while Larry Fink was dismissing Bitcoin as a scam. So I think it's likely that they end up with only 10k BTC or so in exchange for their large cash reserves.

[Stompix]

I wouldn't worry about that too much. First of all, Blackrock does not hold any bitcoins, they use custodian, Coinbase. So it's coinbase that would end up holding all the coins from the new fork. And I don't suspect the distribution of forked coins would be covered in the contract between Blackrock and Coinbase.

Do you think Blackrock was stupid enough not to add this clause to the coin held by Coinbase?
They have an army of lawyers and not one of them thought of that?
Besides, I expect they would pull them out to their own custodian if they would try such a move!

Blackrock would need mining power to fork bitcoin  and maintain it. Otherwise it would just be a dead fork...

Blackrock is the first and second largest shareholder in nearly all listed companies in the US.
And more than that, it basically owns through debt Core Scientific, which had 28exa and just signed a deal for 15exa yearly delivery, and 15 in 2025, they've got basically 10% of the hashrate just through one alone!

Also, they have their own advisors in the Bitcoin Mining Council, that's a sign of how much power they have over those companies.

They won't do it, but theoretically, they have the power!

[Faisal2202]

Besides Blackrock getting free money from the forked coins, how else will the benefit from forking BTC?

I read the headline news saying its possible that the investment management company will try to fork Bitcoin. With this, its obvious they control the forked coins right? Itd be interested to knkw what you can say if they really do this.

And I heard that they are planning to bring there own crypto token, but I also heard in some news that they might fork BTC, well, anyone could fork BTC, if people would be adopting the forked BTC then it will work otherwise if people won't be trading in it then it does not matter at all. Because they won't be making any profit from it. Plus I don't think at all that they will fork BTC.

I mean why would they, they are already making hell lot of money from all other things and they have just started to make money from BTC ETFs so why would they step into some other kind of business for which I don't think they are prepared or ready yet. What you say?

[target]

Besides Blackrock getting free money from the forked coins, how else will the benefit from forking BTC?

I read the headline news saying its possible that the investment management company will try to fork Bitcoin. With this, its obvious they control the forked coins right? Itd be interested to knkw what you can say if they really do this.

And I heard that they are planning to bring there own crypto token, but I also heard in some news that they might fork BTC, well, anyone could fork BTC, if people would be adopting the forked BTC then it will work otherwise if people won't be trading in it then it does not matter at all. Because they won't be making any profit from it. Plus I don't think at all that they will fork BTC.

I mean why would they, they are already making hell lot of money from all other things and they have just started to make money from BTC ETFs so why would they step into some other kind of business for which I don't think they are prepared or ready yet. What you say?

Blackrock is governed by smart people and these smart ones know they couldn't control BTC. So why would they put all their money to Bitcoin when they know they are not in control of it?

With the forked coins, Blackrock owns the asses of all holdsrs of this coin. You could say no one may use this coin but then Blackrock pumping the coin will always make investor go to invest.

[dkbit98]

I also heard they own Ukraine already since they are incharge for rebuilding the country after the war. If they almost own everything, its possible they also own the regulators, I remember none of the ETFs were approved until Blackrock filed their Bitcoin ETF. It is as if they are the ones the SEC is waitin for.

And you think they don't own US, Russia and other countries? Just look for connection between Blackrock and all oligarchs, you will find one thing is in common.
They own almost everything, including banks with their shady interest rates, that is why we have so much manipulations in all markets
Anyone thinking that Blackrock is good guys just because they buy Bitcoin is foolish.

[Crwth]

I think, like anyone else would benefit. You would get double the coins you just need to put it in the wallet using a different code right? Or type of wallet? I forgot, but I remember having forked coins And I  need to put my passphrase on it.

[ZAINmalik75]

Besides Blackrock getting free money from the forked coins, how else will the benefit from forking BTC?

I read the headline news saying its possible that the investment management company will try to fork Bitcoin. With this, its obvious they control the forked coins right? Itd be interested to knkw what you can say if they really do this.

Blackrock can make it happen because they have enough resources and funds to create a successful fork of BTC and they can also get investors too. These investors won't comprised of BTC enthusiasts because they will not like a new BTC fork, especially this one because it can grow faster than the previous ones. But eventually, new users will also adopt it when they will see the gains the old customers of Blackrock made.

They can acquire most of the forked amount because they have a good amount of BTC. They can make money by speculating it, by charging fees and they can come up with their own exchange where they will list the forked BTC first so all the investors could buy and sell there at start.

[target]

I also heard they own Ukraine already since they are incharge for rebuilding the country after the war. If they almost own everything, its possible they also own the regulators, I remember none of the ETFs were approved until Blackrock filed their Bitcoin ETF. It is as if they are the ones the SEC is waitin for.

And you think they don't own US, Russia and other countries? Just look for connection between Blackrock and all oligarchs, you will find one thing is in common.
They own almost everything, including banks with their shady interest rates, that is why we have so much manipulations in all markets
Anyone thinking that Blackrock is good guys just because they buy Bitcoin is foolish.

They own Russia?
This doesn't make sense trying them ruined each other and having funds to rebuild Ukraine back. But if true then it also real that the only threat they take seriously is China.

But most probably this assets management company has been in this war business for a long time and they know money is power. In this case BTC is power. 😁