I think he has an agenda against CZ and Binance. And this shows in his anger, and is shaping his statement quite a bit. But that said I think he is essentially correct.
I think it is wonderful the idea of a reorg/rollback came up. This is not the first time. It will not be the only time. But it must NEVER happen.
And this may be the single best object lesson against centralization on the base layer. Proponents of blockchains that either are centralized, or WILL centralize always talk about how miners will always be incentivized to "play fair" and not do things like rollbacks. BSV comes to mind. Gigameg (sic) blocks will inevitably cause centralization or miners/nodes. Probably EXTREME centralization with only a very few ultra powerful players in the game. Then when something like this happens in the future they can all get on a Skype call and decide the fate of the blockchain.
It is not an IF. It is a WHEN.
And it does not even have to be something like collusion to increase supply (which would also probably happen) but something
justifiable like a reorg after theft or attack.
People who are suggesting this have COMPLETELY MISSED Bitcoin's greatest achievement.
An extremely distributed Bitcoin network is censorship resistant. No one can stop you from spending your money. The flip side is no one can really stop theft.
But that is a simple fact of life. Right now the thieves wear suits and make monetary policy decisions "for the good of mankind".
A blockchain reorg is the first step on the path to that same system, just digitized.
And it is a step off a cliff.
If Bitcoin is to survive, it will not happen.
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