Oddbean new post about login | logout Michael Saylor: - actively blocks open source devs - wants regulatory clarity - gives all his BTC to Coinbase - wants to generate yield with paper btc - doesn't know what energy is Why does anyone listen to this retard honestly
He is the next FTX.
No. That's Liberty World Financials ๐คฃ
Him and coinbase in total
He wants yield?
Saifedean needed to explain to him that yield doesn't work in a fixed supply but he wants JP Morgan to do it anyway
Deep. Sigh.
fuck Saylor and fuck JPM.
You can always create debt. That's all yield is. It's the rent on money loaned and you can definitely have it with a fixed supply. It just means that you'll get recked faster because you can't devalue your debt... Unless you're an ecash fool that wants to create mints. Then your back to the same shitcoin universe with mints creating more ecash than they hold in sats. Like a dog back to his vomit.
You should listen for yourself. They were talking past each other on "yield". To me it sounded like Saylor was saying people will still need loans and bitcoiners would lend their bitcoin provided the " bank" were reputable. Seems like a rational prediction. I don't agree with Saylor on many things but he's not dumb. He was not advocating for the current yeild nonsense.
Exactly this. What I think is hanging people up is that Saylor repeatedly referred to "risk-free". In the context of the entire conversation, however, it's clear he was referring to the fiat system which he said wasn't going away in the next 10 years (this doesn't seem an unreasonable working assumption to me). What nobody bothers to mention is that Saylor also clearly acknowledged the counterparty risk inherent in lending Bitcoin for yield in Bitcoin terms; and this is correct. There is the obvious risk that the counterparty may not live up to the deal; but there's nothing about a fixed supply system that prevents a counterparty from returning more Bitcoin than what was borrowed (i.e. 'yield') any more than it prevents a renter from paying a landlord at the end of the month in Bitcoin the renter hasn't yet earned - which is a point Saylor tried to make; but by that time, Saif was a brick wall.
Valid pointsโฆ
Anti p2p MOE afaict
Most recently, just to be aware. I wonder how and when his greed will get him in trouble?
he's a fiat cuck
I wrote this on March 2 2024 https://stacker.news/items/446513
good question.
Donโt make me tap the sign https://image.nostr.build/481f2960d187e5e8f510a678cc176cdc49132b7141c7e52233cf5e7c1d80c772.jpg
Oh I thought this was satire. If not, Yeah this silly. I chuckled.
This is 100% real and I share it all the time Other questions include Where did Saylor get started (MIT & Air Force) Who funded Microstrategy to get started (DuPont) What product do they sell (I canโt figure it out) Why do they have offices all over the world (good question)
He's got more BTC than you have, Mr. Poor.
As if #rich ๐ค #fiat wealth hasnโt corrupted humanity for years: Mr. Obvious ๐คฃ You want to make a list of all the people who have more resources too? Do it. Then check the value they give to #humanity https://nostrcheck.me/media/2aadfb8ac7d43aca6d164ed99248147910048269601ff60d4463c4d5b3abfdcd/b435c46584583eac2695a996a5896a75ae8618c352263cdf43adc3e631bb18d0.webp
Dunno, in my fiat circles people honor skills and hard work. Only in cointard world it's all about quantity.
๐คฃ๐
like attracts like. and... stupid is as stupid does.
He claims that he is taking his BTC to his grave And yet he has already given it all to coinbase! nostr:note1apdj8qe5gyu5j8rhxvw30tqame2j8tzyp3gu74sh4kucz65jg4wqp8cxs4
I'm not trying to defend Saylor with this question.... But, what he's calling yield on Bitcoin isn't really yield on Bitcoin. Right? I mean, to generate a Bitcoin yield you need to lend your Bitcoin to someone who pays you for that lend. No? He's just taking on more debt through MicroStrategy in order to buy more Bitcoin, and calling the rise in price of Bitcoin a yield, instead of an unrealized USD profit.
Copy paste: Incentive theory. People are only as good as their incentives. -Heโs worth so much that his values are becoming skewed. A lot of what he says now is deliberately careful. For example He knows that referring to BTC as money puts him at risk from harsh govt regulations (think Tornado cash) so he goes out of his way to say btc is a commodity, not a currency. We all know btc is the most fungible commodity ever soโฆ itโs definitely a currency. I love the guy since hes the one that orange pilled me in 2020 on lex but people need to be prepared for the day when he does something that lets us down.
Iโve said it before and will say it again: @saylor is a rocket ๐ scientist ๐จโ๐ฌ Heโs well aware he owns a #monopoly Itโs his to sell. This is how #fiat money worked. Why wouldnโt #btc be corrupted by #rich people who believe they are above others? #btc #nostr #2024 https://nostrcheck.me/media/2aadfb8ac7d43aca6d164ed99248147910048269601ff60d4463c4d5b3abfdcd/b435c46584583eac2695a996a5896a75ae8618c352263cdf43adc3e631bb18d0.webp
Try ๐ค this technique. ๐ค Hiding a needle in a stack of ๐ needles. You ๐ could quite literally put your seed phrase on a billboard and no ๐ค one would figure it out. https://bitcoinmagazine.com/technical/border-wallets-help-users-memorize-bitcoin-seed-phrases
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Saylor is fucking smart. I donโt understand why he says shit like โBitcoin is stored energyโ but bitcoiners seem to like that crap ๐คทโโ๏ธ
Energy cannot be created or destroyed, it can only be changed from one form to another. Albert Einstein
Why do you think he doesn't understand what energy is? Can you elaborate please?
Bro wtf is happening to Nostr - this thread is SOOOO spammy and ReplyBotted. Sad to see it. People aren't gonna stand for this shit for long
Bro wtf is happening to #Nostr - this thread is SOOOO spammy and ReplyBotted. Sad to see it. People aren't gonna stand for this shit for long. #asknostr nostr:nevent1qqswskersv6yzw2fr3mnx8gh4swau4fr43zqc5w02ct6mwvpd2fy2hqpz4mhxue69uhhyetvv9ujuerpd46hxtnfduhsyg8zenmu7gzq8ulj5jj4kv50ph3muwz43f747vmr9ld2alrjdswgavpsgqqqqqqssy2f03
The ๐ค Ethereum Foundation sold 300 $ETH (~$760,000) at an average ๐ price of $2,543 hour ๐ ago https://image.nostr.build/0318de26f1588217fcccc8d861e90c63c0742060212245c7279d97cb02e517ab.jpg ๐ค
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