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Bender | 2 months ago (raw) | root | parent | reply | flag 
 I’m more on Saylors side here.
I generally find it hard to listen to saif a fair bit anyways
But it felt like 2 stubborn people that refuse to accept the others perspectives.
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stacksatsio | 2 months ago (raw) | root | parent | reply | flag +1 
 What part of Saylor’s argument is more compelling for you?
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Bender | 2 months ago (raw) | root | parent | reply | flag 
 The financial system isn’t going anywhere. The banks will offer bitcoin yield products.
A few years ago I thought CBA was moving that way with their announcement of an exchange. Then I think they got a tap on the shoulder to back up on that.
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stacksatsio | 2 months ago (raw) | root | parent | reply | flag +3 
 I think the banks will offer bitcoin yield products too, but that wasn’t the point of disagreement. 

Saif’s point was that without a BTC printer they will fail because the yield has to come from the fixed supply of 21M. There is no way around that.

You can’t just say “well the banks have the backing of the Government”. That doesn’t actually mean anything because no Government controls the Bitcoin ledger; the banks will be forced into default and no amount of IOUs will be accepted in lieu of UTXOs.

The fiat financial system isn’t going anywhere soon but Bitcoin has very specific rules and they apply for you, me, Saif, Saylor, Jamie Dimon, JPMC, and the US Gov all alike.

Sure some will touch the stove, but they’re going to get burned.
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Sound Money | 2 months ago (raw) | root | parent | reply | flag +1 
 And this is why we bitcoin. We get to laugh at those stupid enough to touch the stove and with a bit of luck, we get to profit from that stupidity too.
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ba908df0 | 2 months ago (raw) | root | parent | reply | flag 
 And this is why we bitcoin. We get to laugh at those stupid enough to touch the stove and with a bit of luck, we get to profit from that stupidity too. nostr.fmt.wiz.biz
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stacksatsio | 2 months ago (raw) | root | parent | reply | flag +1 
 Honestly I don’t think we want this to happen even if all Bitcoin HODLers would become wealthier as a result.

It would be like what Soros did to the Pound crossed with the Treaty of Versailles - talking about National-level financial enslavement of whole peoples by Bitcoin. 

Absolute supervillain stuff.
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bitbybit | 2 months ago (raw) | root | parent | reply | flag 
 The only way I see anyone being able to offer yield on corn is if the company/bank/govt issuing the yield has control of a sustainable energy source and are able to mine the corn for cheaper than the value of the corn.  

That's a very high hurdle rate and I don't think any of the current public miners are achieving that now.  It's possible but very difficult.  A bank in metro New York definitely is not creating that value.  It's going to be some stranded energy source in a desolate area generating electricity for basically free.