Oddbean new post about login | logout Saylor: “It doesn’t have to be a currency … Medium of Exchange is a distraction” Are you prepared to oppose Saylor? Because that is coming. He is not a Bitcoiner, he’s a BitcoinBug here for NGU only. He will happily accede to the State if he can keep his coins. https://v.nostr.build/wGdyL.mp4 nostr:note1hn70pvz44dnxltukxamd9ww35mes0sne2yd4pzznphg4v4ll2tksyz9d8e
Bitcoin is whatever it needs to be for those who used it
Fanboys gonna fanboy.
he’s buying you time. he knows very well what bitcoin can do but will never paint a target on his back
No, he’s buying himself space from the political apparatus. Saylor is in this for Saylor.
He can think he's buying himself time, but in effect, he's buying us time and buying power. If he monetizes the asset as a gold-like asset, the network is still permissionless and we can still settle transactions without anyone beig able to stop us. Functionally, it doesn't matter that he sleeps on his growing pile, all it does is give a market to settle for dollars at the end of the day. He can never have a say about like e-cash settling on Bitcoin or LN or whatever. In the end he's fulfilling his role in the ecosystem and we are fulfilling ours. nbd really.
Unless of course he’s a CIA front as @Magoo speculates.. Still, if I’m gonna look at Saylor on a scale to Bill Gates, whether he is an asset or not, if I’m forced to choose I know which one is getting the guillotine and which is spared. My point is more, quit blindly trusting him. He’s in this for himself. He has said as much about his legacy. You’re likely to end up in a fork war with Saylor on one side and it will be the side best for him, not best for Bitcoin.
let's say he's CIA. now what?
Look, the most likely failure mode of Saylor is him blowing up from debt. Your current argument is that Saylor can tell us on what to agree on, when we walked in voluntarily agreeing on a certain type of rule. That's just not going to happen. The only way anyone cen get this to stick is to wait at least one generation.
In the event of the US gov attempting an nation wide asset seizure because of Bitcoin bring an "electronic peer to peer cash system", it would only affect a small portion of less than 5 percent of the global population. The other 95 percent doesn't give a fuck what the US Gov wants or does. Seized coins = lost coins making everyone's coinsore valuable. Or the gov dumps them back to the market like the DOJ just did In either way, Bitcoin is not just a store of value because it's more convenient for Michael and his friends. nostr:nevent1qqs2677d86dsatxygtfekwrt0g9lhjzr8a3epqtsme9wyz647gyw7scpz4mhxue69uhhyetvv9ujuerpd46hxtnfduhsygru5ek5ze43da22z6rgryd6r33cd2tkvf85vd8n39keke6q5wyv5vpsgqqqqqqs9z9hca
I think Saylor has enough understanding on how political systems work. As a founder of a publicly-traded company and being at the forefront of this arbitrage, I am sure he weighs his words carefully.
I'd say each to his own, but does money work if it can't be used as money? Can Bitcoin holds its' value if it doesn't ultimately become both SoV and Currency? I don't think so, you just can't have one without the other, or can you? One could use gold as an argument, but when gold was reduced to just SoV it also lost most of its monetary demand. The problem is, NGU need that monetary demand to keep Bitcoin healthy and strong. nostr:nevent1qqs2677d86dsatxygtfekwrt0g9lhjzr8a3epqtsme9wyz647gyw7scpz3mhxue69uhhyetvv9ujuerpd46hxtnfdupzql9xd4qkdvt02jsks6qerwsuvwr2janzfarrfuufdkdkws9r3r9rqvzqqqqqqyz73aus
It seems like we’re fighting the blocksize wars again. All those Bcashers thought bitcoin should be internet money and a medium of exchange too. Bitcoin is our hope to replace central banks. We need to stay focused on the goal.