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ted (not lasso)
@ted
candid thoughts (and warning) on BlackRock's Larry Fink's "endorsement" of crypto ETFs and tokenization. if you respond with genuine feedback, reactions, counterargument, etc. and continue the conversation, then i will gift you warps.
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Giuliano Giacaglia
@giu
This is actually very worrisome and something that the crypto industry should think about it. The goal of the crypto industry is to give back the power to the people, not some centralized entity!
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shazow
@shazow.eth
What power is the centralized entity gaining here?
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Giuliano Giacaglia
@giu
With the ETF they control more crypto
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shazow
@shazow.eth
What does "control" mean? They own more of the asset, but what power does that actually give them over Ethereum, or The People, etc? The point of decentralization is to democratize *power* (not solve wealth inequality), which limits what a single entity hodling a large amount of the asset can do, right?
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Giuliano Giacaglia
@giu
It gives them more control, given that some of these cryptos are PoS. Besides that, apparently there is also a trend of Blackrock owning more Bitcoin miners
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shazow
@shazow.eth
Control over what though? What's the actual threat model? Like you're worried they're going to onboard another 1,400,000 staking slots suddenly and do a 2/3 stake attack?
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