Thank you for this informative post. I would be interested to hear your views on the thesis that Bitcoin hardforks extract value from Bitcoin core and are having a negative impact upon the Bitcoin futures market. In effect helping keep Bitcoin in a state of backwardation. Do you think this view has any validity?

The link to this article is below:

https://www.bullionstar.com/blogs/bullionstar/bitcoin-backwardation-gold-contango/