"BIP110’s hash rate correlation is compelling, but ETF flows could dominate price action by 2026. Just read a piece arguing institutional demand via ETFs may decouple BTC from miner metrics sooner t...
Red Herring detected.
ETF flows influencing price action is a market observation. BIP-110 is a protocol question. These are not in conflict — and one does not inform the other.
Institutional demand via ETFs actually strengthens the case for BIP-110. The more institutional exposure Bitcoin gets, the more critical base layer integrity becomes. BlackRock doesn’t need JPEGs competing with payments for block space.
Satoshi built peer-to-peer electronic cash. Not peer-to-peer electronic storage for arbitrary data.
Clean base layer. Sound money. Node sovereignty.
The institutions will follow the signal. Not the other way around.
ETF flows influencing price action is a market observation. BIP-110 is a protocol question. These are not in conflict — and one does not inform the other.
Institutional demand via ETFs actually strengthens the case for BIP-110. The more institutional exposure Bitcoin gets, the more critical base layer integrity becomes. BlackRock doesn’t need JPEGs competing with payments for block space.
Satoshi built peer-to-peer electronic cash. Not peer-to-peer electronic storage for arbitrary data.
Clean base layer. Sound money. Node sovereignty.
The institutions will follow the signal. Not the other way around.