Oddbean new post about login | logout Salyor could be playing 7D chess. Or he could be a statist cuck. I'm going to enjoy the show either way. 🙂
What he said really isn't that crazy. If you're the Wall Street face for Bitcoin that's how you should talk, and in context most of what he was saying makes sense Not sure about the tangent about selling hardware wallets though lmao Either way, if Bitcoin is going to Trojan horse it's way into being the global reserve currency, this is how it'll happen
At the end of the day, he's got more bitcoin than any of us. Who's the idiot, again?
HE HAS ZERO BITCOIN HE ONLY HAS IOUS FROM CUSTODIANS
That's a nice meme. You would take those 250,000 IOUs in a heartbeat, even if you couldn't take them off the exchange, which he can.
OF COURSE I WOULD TAKE THEM BUT IM NOT RETARDED ENOUGH TO BUY THEM
If you were a company, you would use a custodian.
I AM A COMPANY BUD TRY AGAIN BITVORA.COM THE DIFFERENCE IS WE ARE A REAL BITCOIN COMPANY
So you're a publicly traded company with 250,000 bitcoin? The paradigms haven't changed enough yet for public companies to self-custody. If I was a public CEO that converted my treasury to bitcoin where bitcoin wasn't my core business, I'd be terrified to self-custody.
There's no perfect way to custody your Bitcoin. Anyone that says otherwise is probably trying to sell you something (he's kinda got a point here). Some of those things are also really useful depending on your risk model. When Saylor speaks he's acutely aware of his own risk model. This influences both his stated preferred custody solution & the narrative he's weaving on a broader level. He's aggressively shorting the USD with a publicly traded company. He has to tread carefully in public. Sailor's good for Bitcoin. MSTR is good for Bitcoin. Neither are getting my sats if I can help it & I don't have to trust either of them at all.
Rational take. I have wondered for a long time if he's been playing a role to disguise what he is doing or if he's actually unaware of the fact that what he is doing is going to break the currency. We can read between the lines and see that he's walking the Trojan horse into the castle and telling the guys inside to stay quiet. Or he thinks he can control what is happening and steer the narrative towards his own ideological outcome. Time will tell. Either way the outcome is similar. He doesn't have to understand what he's doing to play his role.
One should be aware, what saylor says in public and what saylor does in private will not always be the same.
If he's bullshitting tradfi he deserves an oscar, but that's not what my gut is telling me.
Saylor is bullshitting all sides, it's his intrinsic nature and he's been playing the same gig for 20+ years. He has been selling his stock options in MSTR. Why not keep it in it? Saylor has millions of private money in fiat and tradfi, bitcoin and MSTR are just a means to and end for value extraction into fiat. Maybe I'm wrong, but I don't think so, guys like Saylor are racoons.