Post
Topic
Board Development & Technical Discussion
Re: Hypothetical ETF disaster hardfork
by
ABCbits
on 09/01/2024, 09:38:40 UTC
I imagined an hypothetical scenario where there is a massive hack or some sort of a disaster scenario where there are massive losses, and now those same good samaritans that are funding developers start pushing a campaign to engineer a rollback of the blockchain Vitalik style. What would happen?

Unless those developer willing to lose their reputation on Bitcoin community, they won't participate on such campaign.

This could be applied to any other narrative to come up with a hardfork. Like, BTC pollutes the environment, let's go to PoS, or this and that. But the one I could see coming, is seeing a massive loss and then angry people wanting a rollback and start campaigning to pass laws that force developers to do this and so on. Most custodians are using Coinbase, but some will be self-custodians, Fidelity being one of them. I expect their efforts to pass such hardfork to fail, but who knows if like I said, most people in the future depend on ETFs and start pushing for laws to "protect investors" that force developers and miners to do rollback plans and so on. This sounds ridiculous now but you never know.

I expect we'll see another community split where new forked coin is created. Although looking at ETH and ETC split, we can't be fully sure Bitcoin which doesn't implement rollback or other major change could remain most popular coin.